Re-appointment of Mr. N Ravi Prasad as Managing Director & CEO and Re-appointment of Mr. N Rajender Prasad as Joint Managing Director & CFO
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Awaiting price reaction for this filing.
Southern Magnesium & Chemicals' board, at its meeting on August 7, 2025, approved unaudited results for Q1 FY26 (quarter ended June 30, 2025). Revenue from operations rose sharply to Rs 81.12 lakhs from Rs 29.36 lakhs a year ago, but the company slipped into a loss of Rs 9.86 lakhs (vs a profit of Rs 5.93 lakhs in Q1 FY25), with EPS at Rs (0.33). The board also approved the re-appointment of promoter Mr. N Ravi Prasad as Managing Director & CEO for 3 years from November 13, 2025, and promoter Mr. N Rajender Prasad as Joint Managing Director & CFO for 3 years from August 10, 2025 — both subject to shareholder approval at the 39th AGM on September 29, 2025.
Continuity at the top with promoter-family leadership being renewed signals stability, but the swing to a quarterly loss despite higher revenue may concern shareholders. No immediate price catalyst expected from re-appointments; focus shifts to shareholder vote and AGM.