NewsEarningsSouthern Magnesium & Chemicals Reports Q1 Loss, Approves Key Management ReappointmentsSouthern Magnesium & Chemicals Reports Q1 Loss, Approves Key Management Reappointments
By ScanX News Team
Southern Magnesium & Chemicals Limited reported a net loss of Rs 9.86 lakhs for Q1 FY2025-26, compared to a profit of Rs 177.80 lakhs in the same quarter last year. Revenue from operations decreased by 73.25% to Rs 21.70 lakhs. The company reappointed Mr. N Ravi Prasad as Managing Director and CEO, and Mr. N Rajender Prasad as Joint Managing Director and CFO, both for three-year terms. The 39th Annual General Meeting is scheduled for September 29, 2025, via video conferencing.
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Southern Magnesium & Chemicals Limited, a Hyderabad-based company specializing in magnesium products, has reported a net loss for the first quarter of the fiscal year and announced key management reappointments.
Financial Performance
The company's unaudited financial results for the quarter ended June 30, 2025, reveal a significant downturn in performance compared to the same period last year:
| Particulars (in Rs. lakhs) | Q1 2025-26 | Q1 2024-25 | Change (%) |
|---|---|---|---|
| Revenue from Operations | 21.70 | 81.12 | -73.25% |
| Net Profit/(Loss) | (9.86) | 177.80 | -105.55% |
The company experienced a substantial decline in revenue from operations, which fell to Rs 21.70 lakhs from Rs 81.12 lakhs year-over-year, representing a 73.25% decrease. This sharp decline in revenue contributed to a net loss of Rs 9.86 lakhs for the quarter, compared to a profit of Rs 177.80 lakhs in the same quarter of the previous year.
Management Reappointments
In a board meeting held on August 7, 2025, Southern Magnesium & Chemicals Limited approved several key management reappointments:
Mr. N Ravi Prasad has been re-appointed as Managing Director and Chief Executive Officer for a three-year term, effective from November 13, 2025. This appointment is subject to shareholder approval at the upcoming Annual General Meeting (AGM).
Mr. N Rajender Prasad has been re-appointed as Joint Managing Director and Chief Financial Officer for a three-year term, starting from August 10, 2025. This reappointment is subject to ratification by shareholders at the ensuing AGM.
Both reappointments were made based on recommendations from the Nomination and Remuneration Committee, with Mr. N Rajender Prasad's reappointment also receiving a recommendation from the Audit Committee.
Annual General Meeting
The company has scheduled its 39th Annual General Meeting for September 29, 2025. The AGM will be conducted through video conferencing or other audio-visual means. The book closure dates for the AGM have been set from September 23 to September 29, 2025 (both days inclusive).
Southern Magnesium & Chemicals Limited operates within a single business segment, focusing on magnesium products. The company's financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) and have undergone a limited review by the statutory auditors, who have issued an unqualified conclusion.
Historical Stock Returns for Southern Magnesium & Chemicals
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -9.99% | -21.04% | -3.16% | -25.84% | -69.29% | +655.86% |
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