Magnus Steel and Infra Limited has generated commission income of ₹1.32 crore for facilitating a transaction valued at ₹60 crore between M/s Shun Shing India Pvt. Ltd. and other parties. The income, recognised upon the issuance of a tax invoice on June 17, 2026, stems from management consulting and transaction facilitation services related to the purchase and sale of assets. This revenue is expected to contribute to the company's financial results for the financial year 2026-27.

Transaction Details

The company provided brokerage and commission services for the underlying deal, which involved assets worth ₹60 crore. The total invoice value of ₹1.32 crore includes the taxable commission amount and applicable goods and service tax (GST). The board confirmed that the counterparty is not a related party under the Companies Act, 2013, or SEBI (LODR) Regulations, 2015.

Financial Breakdown

Operational Impact

While the commission amount is not material relative to the company's total revenue, it signifies a diversification of income streams beyond the core steel and infrastructure business. The payment terms for the transaction were immediate, and the income has been fully recognised in the current financial year. The board of directors validated the disclosure, confirming compliance with all regulatory provisions.

Magnus Steel and Infra Limited has informed the Bombay Stock Exchange regarding the submission of a revised outcome for its board meeting held on May 22, 2026. The meeting was convened to approve the financial results for the first quarter of the fiscal year 2027 under Regulation 33.

The company stated that the revision was required due to an inadvertent error in the initial filing. Specifically, the Limited Review Report (LRR) was uploaded in place of the Auditor's Report when the outcome was first submitted on May 1, 2026. The latest communication rectifies this by attaching the correct Auditor's Report for dissemination.

Financial Status

Magnus Steel and Infra Limited emphasized that the Financial Results approved by the Board remain unchanged. There is no modification in any financial figures or disclosures that were previously submitted to the exchange. The audit covers the standalone annual financial results for the year ended March 31, 2026.

The Independent Auditor's Report, provided by Verma S & Associates, Chartered Accountants, confirms that the financial results present a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards (Ind AS). The auditors expressed an unqualified opinion on the standalone net profit after tax and other comprehensive income.

Auditor's Opinion

The audit was conducted in accordance with the Standards on Auditing specified under the Companies Act, 2013. Verma S & Associates confirmed their independence from the company and stated that they believe the audit evidence obtained is sufficient and appropriate to provide a basis for their opinion. The report also notes that there were no key audit matters to communicate during this period.