Southern Magnesium & Chemicals News

Southern Magnesium Board Meet Set for Feb 5, 2026

Southern Magnesium and Chemicals Limited has scheduled a board meeting on February 5, 2026, to consider Q3FY26 unaudited financial results. Trading window closed from January 1, 2026.

Southern Magnesium clarifies share price movement

Southern Magnesium & Chemicals responds to BSE inquiry, stating all disclosures made timely and price movement due to market factors rather than company-specific events.

Southern Magnesium and Chemicals Reports Mixed Financial Performance and Leadership Change

Southern Magnesium and Chemicals Limited announced its unaudited financial results for the quarter and half-year ended September 30, 2025. The company reported a profit before tax of Rs 14.50 lakhs for the half-year period, compared to Rs 389.04 lakhs in the previous year. Revenue from operations decreased significantly during this period. The company also announced a leadership change, with Mr. N Rajender Prasad's designation being elevated from Joint Managing Director and Chief Financial Officer to Managing Director and Chief Financial Officer, effective November 12, 2025, for the remainder of his tenure until August 9, 2028. The change is subject to member approval. The company operates in the magnesium business segment and maintains its equity share capital at Rs 300 lakhs.

Southern Magnesium Managing Director Resigns Due to Health Issues

Mr. Nuthakki Ravi Prasad resigned from his position as Managing Director and Chief Executive Officer of Southern Magnesium and Chemicals Limited, effective October 23, 2025, citing ongoing health issues. In his resignation letter, Prasad stated that health challenges made it increasingly difficult to perform his duties effectively. The company confirmed there are no other material reasons for his resignation beyond those mentioned. As a result of his resignation, his re-appointment as Managing Director and Chief Executive Officer for a three-year term from November 13, 2025 to November 12, 2028, which was previously approved by shareholders at their Annual General Meeting held on September 29, 2025, has been revoked.

Southern Magnesium and Chemicals Reports Loss, Reappoints Key Executives for Three-Year Terms

Southern Magnesium and Chemicals Limited reported a net loss of ₹9.86 lakhs for Q2 2025, compared to a profit of ₹177.80 lakhs in the same quarter last year. Revenue from operations declined to ₹21.70 lakhs from ₹81.12 lakhs year-over-year. The Board reappointed Mr. N Ravi Prasad as Managing Director and CEO for three years starting November 13, 2025, and Mr. N Rajender Prasad as Joint Managing Director and CFO for three years from August 10, 2025. Both appointments require shareholder approval at the 39th Annual General Meeting scheduled for September 29, 2025, to be held virtually. The company operates in the magnesium business segment and maintains 3 million weighted average equity shares.