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.

Magnus Steel and Infra Limited has announced the receipt of purchase orders worth Rs. 32.50 Crores from M/s. RIECO Industries Limited, Pune, for the supply of steel products to Tata Motors Limited's new manufacturing facilities in Gujarat and Maharashtra. The disclosure was made on 11th May, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has been empanelled as an approved steel supplier for these projects after completing the requisite supplier qualification process, including quality audits and technical evaluations by RIECO Industries Limited.

Order Details at a Glance

The purchase orders pertain to the domestic supply of Hot Rolled Steel Plates (IS 2062 Grade A), HR Sheets, and Structural Steel Channels of various thicknesses ranging from 5mm to 40mm, intended for the construction of industrial sheds and related infrastructure at Tata Motors' automobile manufacturing facilities. The key parameters of the order are summarised below:

Order Book Breakdown

The total estimated order book from this engagement stands at approximately Rs. 32.50 Crores, comprising both executed orders and a pipeline of future releases. The following table provides a breakdown of the order book:

Purchase orders are being released in phases based on construction progress at Tata Motors' project sites in Gujarat and Maharashtra, providing the company with a visible order flow through the financial year.

Revenue and Profitability Impact

Revenue of approximately Rs. 8.50 Crores has already been recognised from orders executed in March–April 2026. The company's total revenue for FY 2025-26 was Rs. 22.58 Crores. The additional pipeline of approximately Rs. 24 Crores, if fully executed, is expected to result in substantial revenue accretion during FY 2026-27. This order also diversifies the company's revenue base into the automobile infrastructure sector, reducing dependence on the agro-products trading segment. Profitability will depend on prevailing steel procurement costs and margin realisation at the time of each delivery.

Vendor Qualification and Operational Readiness

Magnus Steel and Infra Limited was empanelled as an approved vendor after completing the supplier qualification process, which included quality audits and technical evaluations conducted by RIECO Industries Limited. The company has adequate steel procurement arrangements with primary mills and has enhanced its working capital facilities to support the execution of these orders. The promoters, promoter group, and group companies have no direct or indirect interest in RIECO Industries Limited or Tata Motors Limited.

Key Highlights

• Purchase orders are being released in six phases during FY 2026-27 as per construction progress
• Steel products to be supplied include HR Plates, HR Sheets, and Structural Steel Channels (5mm to 40mm)
• Quality compliance required as per IS 2062 and relevant BIS standards with Material Test Certificate for each lot
• Deliveries are to RIECO's Kuruli Plant, Pune and Ankleswar, Gujarat
• The company continues to pursue additional industrial supply opportunities in the infrastructure and manufacturing sectors

The disclosure was signed by Kshipra Bansal, Company Secretary & Compliance Officer of Magnus Steel and Infra Limited, from Pune on 11th May, 2026.