With reference to the above cited subject, Board of Directors at their Meeting held on 04th May, 2026, inter-alia, have considered and approved the following: 1. The Audited Financial ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Southern Magnesium & Chemicals Ltd reported audited financial results for FY ended March 2026. Revenue from operations declined sharply to Rs 335.55 lakhs from Rs 1,243.49 lakhs in FY2025, representing a 73% decline. Profit After Tax dropped to Rs 12.64 lakhs from Rs 319.77 lakhs in the previous year. The company reported negative operating cash flow of Rs 468.65 lakhs compared to positive Rs 473.27 lakhs in FY2025. Borrowings increased from Rs 329.46 lakhs to Rs 466.83 lakhs. The statutory auditor issued an unmodified (clean) opinion. The board also appointed new secretarial auditors (D. Hanumanta Raju & Co.) and internal auditors (K.S. Rao & Co.) for FY 2026-27.
The company experienced a severe revenue contraction and cash flow deterioration. Despite maintaining profitability, the sharp decline in operations and negative operating cash flow may raise concerns about financial stability. The clean audit opinion provides some comfort on financial reporting accuracy.