Magnum Ventures has scheduled its 46th Annual General Meeting for September 25, 2026. The meeting will be held via video conferencing at 2:00 pm to transact ordinary and special business items.

The Register of Members and Share Transfer Books will remain closed from September 19, 2026, to September 25, 2026 (both days inclusive) for the purpose of the Annual General Meeting. Shareholders holding shares as on the cut-off date of September 18, 2026, are eligible to vote. Remote e-voting will commence on September 22, 2026, at 9:00 am and conclude on September 24, 2026, at 5:00 pm.

Key Resolutions

The notice outlines several special resolutions for shareholder approval:

• Reappointment of Managing Director: Mr. Abhay Jain seeks reappointment as Managing Director for a two-year term commencing August 10, 2027. His monthly remuneration is proposed at ₹1,50,000, subject to a ceiling of 5% of net profits.
• Reappointment of Whole-Time Director: Mr. Shiv Pravesh Chaturvedi is up for reappointment as Whole-Time Director for a similar two-year term starting August 10, 2027. His monthly remuneration remains at ₹1,25,000.
• Independent Director Reappointment: Ms. Shalini Rahul seeks reappointment as an Independent Director for a five-year term from August 10, 2027, to August 9, 2032.
• Cost Auditor Ratification: The Board proposes ratifying the remuneration of M/s V.K. Dube & Co. as Cost Auditors for FY27. The fee is set at ₹1,35,000 plus GST.

Financial Disclosures

The Board did not recommend a dividend on equity shares for the financial year ended March 31, 2026. The Registers of Members and Share Transfer Books will remain closed from September 19, 2026, to September 25, 2026, for the annual closure of books.

What the Numbers Show

The remuneration structure for executive directors links compensation directly to profitability. Both Mr. Jain and Mr. Chaturvedi have their pay capped at 5% of net profits individually, with a combined ceiling of 10% for all executive directors. This structure implies that in years with low or no profits, their remuneration would fall back to fixed amounts prescribed under Schedule V of the Companies Act, aligning management incentives with shareholder returns during profitable periods while ensuring baseline compensation stability.

Voting Instructions

Members can participate in the AGM through video conferencing or cast votes via remote e-voting using the NSDL platform. Institutional shareholders must submit scanned board resolutions authorizing their representatives to vote. The scrutinizer for the voting process is M/s Munish K Sharma & Associates LLP.

Magnum Ventures reported a consolidated net loss of ₹82.77 crore for the quarter ended June 30, 2026, widening significantly from a net profit of ₹53.25 crore in the previous quarter. The company’s revenue from operations fell 4% quarter-on-quarter to ₹1,234.06 crore, reflecting divergent performance across its core business segments.

The Board of Directors approved the unaudited standalone and consolidated financial results on August 14, 2026. Alongside the financials, the Board approved the notice for the upcoming Annual General Meeting and certified security cover for its listed non-convertible debentures.

Segment Performance

The company’s two primary segments—Paper and Hotel—showed contrasting trends in Q1FY27:

• Paper Segment: Revenue rose 14% quarter-on-quarter to ₹1,022.70 crore, up from ₹897.26 crore. Segment result turned positive at ₹37.56 crore, recovering from a loss of ₹49.73 crore in the prior quarter.
• Hotel Segment: Revenue plummeted 46% to ₹214.72 crore from ₹399.68 crore. Consequently, the segment’s contribution to operating profit dropped sharply to ₹14.53 crore from ₹187.72 crore.

Figures in ₹ crore

Capital Raises & Debt Management

Magnum Ventures issued and allotted 18% Listed Secured Non-convertible Debentures (NCDs) worth ₹50 crore on June 16, 2026, to NEO Special Credit Opportunities Fund. As of June 30, 2026, the company had utilized ₹29.36 crore of the proceeds, with no deviation in the use of funds. The funds were allocated for working capital (₹49.20 crore originally, with ₹28.81 crore utilized) and transaction expenses (₹80 lakh originally, with ₹54.77 lakh utilized).

Additionally, the company partially redeemed non-convertible debentures amounting to ₹1.63 crore pursuant to the terms attached to such NCDs on June 30, 2026. Outstanding debt excluding lease liabilities stood at ₹2,745.08 crore as of June 30, 2026.

What the Numbers Show

Despite the revenue decline, total expenses decreased marginally by less than 1% to ₹1,277.35 crore. However, finance costs remained high at ₹92.01 crore, consuming over half of the combined positive segment results (₹52.09 crore). This structural cost pressure highlights the company’s continued reliance on debt funding.

Balance Sheet & Regulatory Updates

Key balance sheet metrics indicate tightening liquidity:

• Debt-Equity Ratio: Increased to 0.40 from 0.34 in the previous quarter.
• Current Ratio: Improved slightly to 2.45 from 2.17.
• Inventory Turnover: Slowed to 1.18 from 1.35, suggesting slower inventory movement.

The statutory auditors, Manish Pandey & Associates, noted that trade receivables stood at ₹575.39 crore, with ₹19.64 crore outstanding for more than six months. Of this, ₹4.60 crore is under litigation. The auditors also highlighted that balances of debtors and creditors remain subject to confirmation.

Regulatory matters continue to evolve: the Securities Appellate Tribunal (SAT) has adjourned the hearing of the company’s appeal against a SEBI penalty order to October 15, 2026. The company had previously deposited the penalty amount of ₹12 lakh in compliance with the SAT's order dated July 13, 2023. Additionally, Magnum Ventures received observation letters from BSE and NSE regarding a proposed scheme of arrangement with its wholly-owned subsidiary, Magnum Paperz Limited.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE387I01016/0d9c81d7-07d0-46b8-aebd-2db09d23ae24.pdf