Southern Magnesium & Chemicals Limited , a key player in the magnesium business segment, has announced its unaudited financial results for the quarter and half-year ended September 30, 2025, along with a significant leadership change.

Financial Performance

The company reported a notable decrease in profitability for the half-year period. The profit before tax stood at ₹14.50 lakhs, a substantial drop from ₹389.04 lakhs in the corresponding period of the previous year. This decline was accompanied by a significant reduction in revenue from operations.

Here's a breakdown of the key financial metrics:

The company's total income for the half-year ended September 30, 2025, was ₹210.77 lakhs, compared to ₹1,009.39 lakhs in the same period last year, indicating a significant decrease in overall financial performance.

Leadership Change

In a strategic move, the company announced a change in leadership:

• Mr. N Rajender Prasad's designation has been elevated from Joint Managing Director and Chief Financial Officer to Managing Director and Chief Financial Officer.
• This change is effective from November 12, 2025, and will continue for the remainder of his tenure until August 9, 2028.
• The appointment is subject to approval by the company's members.

Mr. N Rajender Prasad, a promoter director of the company, holds a degree in Chemical Engineering and a Post-Graduation in M.S., bringing over two decades of experience to his new role.

Company Overview

Southern Magnesium & Chemicals Limited operates primarily in the magnesium business segment. The company maintains its equity share capital at ₹300 lakhs, as reported in their latest financial statements.

The board meeting that approved these results and changes was held on November 12, 2025, and the financial results have been subjected to a limited review by the company's statutory auditors.

Southern Magnesium & Chemicals Limited, a key player in the magnesium industry, is set to undergo a significant leadership change as its Managing Director and Chief Executive Officer, Mr. Nuthakki Ravi Prasad, steps down from his position.

Resignation Details

Mr. Prasad submitted his resignation letter on October 22, 2025, citing ongoing health issues that have made it increasingly challenging for him to fulfill his duties effectively. The resignation will take effect from October 23, 2025, marking the end of his tenure at the helm of the company.

Impact on Future Appointments

As a result of this development, the company has announced that Mr. Prasad's re-appointment as Managing Director and Chief Executive Officer, which was previously approved by shareholders, has been revoked. The details of this revoked appointment are as follows:

Company's Statement

In its official communication to the BSE Limited, Southern Magnesium & Chemicals Limited confirmed that there are no material reasons for Mr. Prasad's resignation other than the health issues mentioned in his resignation letter. This transparency aligns with the regulatory requirements set forth by SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Looking Ahead

The departure of Mr. Prasad leaves a significant void in the company's leadership. While the company has not yet announced a successor, this change may prompt a search for a new Managing Director and CEO to guide Southern Magnesium & Chemicals Limited through its next phase of growth and development.

As the company navigates this transition, stakeholders will be watching for announcements regarding interim leadership arrangements and the process for selecting a new permanent CEO.

This development highlights the impact that personal circumstances can have on corporate leadership and the importance of succession planning in ensuring smooth transitions during changes at the top echelons of management.