Magna Electro Castings News

Magna Electro VP Marketing Resigns After 32 Years

Magna Electro Castings announces resignation of V. Mohanraj, Vice President - Marketing, after 32 years with the company due to personal reasons. His last working day is 24th April, 2026.

Magna Electro Castings Seeks Shareholder Approval for Related Party Appointment

Magna Electro Castings Limited has initiated a postal ballot process seeking shareholder approval for appointing Smt. Nivedita Lakshmi Narayanaswamy as Vice President-Finance with remuneration not exceeding Rs. 75 lakh per annum, effective January 1, 2026. The appointee is a related party being the daughter of Managing Director Sri N. Krishnasamaraj and sister of Executive Director Sri Ajeya Vel Narayanaswamy, with the e-voting period running from November 22 to December 21, 2025.

Magna Electro Castings Reports Mixed Financial Performance and Appoints New VP-Finance

Magna Electro Castings Limited announced its unaudited financial results for the quarter and half year ended September 30, 2025. Revenue from operations reached Rs. 5,233.05 lakhs for the quarter compared to Rs. 4,863.59 lakhs in the same period last year. For the half year, revenue stood at Rs. 10,085.06 lakhs versus Rs. 8,779.83 lakhs previously. Basic earnings per share decreased to Rs. 12.78 for the quarter from Rs. 15.87 in the corresponding quarter last year, while half-yearly EPS declined to Rs. 28.51 from Rs. 31.75. The company also recommended the appointment of Smt. Nivedita Lakshmi Narayanaswamy as Vice President-Finance, effective January 1, 2026, subject to shareholder approval. She brings over 13 years of global finance experience with multinational organizations including Mammoth Brands, AbbVie, and Walgreens Boots Alliance. The Third Moulding Line project was commissioned on June 27, 2025.