Magnus retail has announced major leadership restructuring following its board meeting held on March 28, 2026. The company's board of directors approved multiple key appointments and a significant designation change, all subject to shareholder approval, pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Board Appointments

The board approved three strategic appointments based on recommendations from the Nomination and Remuneration Committee:

New Leadership Profiles

Chinmay Pradhan, appointed as Managing Director, brings 20 years of experience as a Sales and Business Tech Professional. His expertise spans sales, team management, and managing companies' internal technology and IT governance, risk, and compliance (GRC).

Prakash Salve, the new Additional Executive Director, is a highly skilled financial management professional with a Bachelor of Commerce degree and over five years of experience in financial principles, accounting, and business management.

Krutika Shah, appointed as Additional Non-Executive Independent Director, serves as a Company Secretary with strong knowledge of statutory compliances and corporate laws. She also brings expertise in strategic management and business planning.

Leadership Transition

In a significant organizational change, Karronn Bajaj's designation changed from Managing Director to Additional Non-Executive Director effective March 28, 2026. Bajaj, who has over 8 years of experience in steel trading and manufacturing, has served as director of Bajaj Tabular Products Pvt Ltd since 2015.

Compliance and Governance

All newly appointed directors have confirmed their eligibility and compliance with regulatory requirements. The company verified that none of the appointees are debarred from holding director positions by SEBI or any other regulatory authority, in accordance with the circular dated June 20, 2018, issued by stock exchanges.

Meeting Details

The board meeting commenced at 07:00 P.M. IST and concluded at 07:30 P.M. IST on March 28, 2026. The decisions were made with proper documentation and regulatory compliance, with the company secretary Kshipra Bansal digitally signing the official communication.

These strategic appointments reflect the company's commitment to strengthening its leadership team with experienced professionals across various domains, positioning Magnus Steel and Infra Limited for continued growth and enhanced governance.

Magnus retail has announced its unaudited financial results for the third quarter of FY26, ending December 31, 2025. The company, formerly known as Magnus Retail Limited, reported a net profit of ₹108.40 lakh for the quarter, demonstrating continued profitability despite a decline from the previous year's corresponding quarter.

Board Meeting and Regulatory Compliance

The financial results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on February 14, 2026. The board meeting commenced at 3:00 p.m. and concluded at 3:45 p.m. The results have been subjected to limited review by the statutory auditors and were announced under Regulation 33 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Financial Performance Overview

The company's financial performance for Q3FY26 shows mixed results when compared to the previous year. While maintaining profitability, the company experienced a decline in net profit compared to the same quarter in the previous fiscal year.

Expense Analysis

The company's expense structure for Q3FY26 included various operational costs. Finance costs amounted to ₹5.90 lakh, while legal and professional expenses were ₹0.19 lakh. Other expenses totaled ₹12.83 lakh for the quarter. The company maintained disciplined cost management across various expense categories.

Nine-Month Performance

For the nine-month period ended December 31, 2025, Magnus Steel and Infra Limited achieved a net profit of ₹299.23 lakh with total revenue of ₹1,714.00 lakh. The nine-month basic and diluted earnings per share stood at ₹8.85 each, reflecting the company's overall performance during the period.

Corporate Structure and Key Details

The company maintains a paid-up equity share capital of ₹338.03 lakh with a face value of ₹10.00 per share. Company Secretary Kshipra Bansal signed the regulatory filing, and Chairman & Managing Director Karronn Bajaj approved the results.

The company has indicated that no provision has been made for taxation owing to losses, both carried forward and currently incurred. The financial statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015, as prescribed under Section 133 of the Companies Act, 2013.