Magna Electro Castings Shareholders Approve VP-Finance Appointment via Postal Ballot

Magna Electro Castings has successfully concluded its postal ballot process, with shareholders unanimously approving the appointment of Smt. Nivedita Lakshmi Narayanaswamy as Vice President-Finance. The company announced the voting results on December 22, 2025, following the completion of the electronic voting period.

Postal Ballot Results

The voting process concluded with overwhelming shareholder support for the proposed appointment:

Voting Parameter	Details
Total Remote E-votes Received	7,23,006
Net Valid Votes	7,23,006
Votes in Favor	100.00%
Resolution Status	Passed as Ordinary Resolution

Key Details of the Approved Appointment

Aspect	Details
Proposed Position	Vice President-Finance
Candidate	Smt. Nivedita Lakshmi Narayanaswamy
Effective Date	January 1, 2026
Maximum Annual Remuneration	₹75.00 lakhs
Relationship	Daughter of Managing Director Sri N. Krishnasamaraj

Voting Process Timeline

The electronic voting process was conducted in accordance with regulatory requirements:

Event	Date
E-voting Commencement	November 22, 2025, 9:00 AM (IST)
E-voting Conclusion	December 21, 2025, 5:00 PM (IST)
Cut-off Date for Eligibility	November 14, 2025
Total Eligible Shareholders	5,622
Results Declaration	December 22, 2025

Candidate Profile and Qualifications

Smt. Nivedita Lakshmi Narayanaswamy brings over 13 years of global experience in financial planning and analysis, strategic finance, budgeting, and operational excellence across multinational organizations. Her educational credentials include a Chartered Global Management Accountant (CGMA) certification, Executive MBA from Columbia Business School, USA, and Master's degree in international management from IE Business School, Spain.

Her most recent role was Head of Finance – Lume & Mando at Mammoth Brands, New York, where she oversaw FP&A, Supply Chain, and accounting functions for a $400M business unit.

Regulatory Compliance

The appointment required shareholder approval as it constitutes a related party transaction under Section 188(1) of the Companies Act, 2013. The proposed remuneration exceeds the threshold of ₹2.50 lakhs per month, necessitating shareholder consent. Mr. MD Selvaraj, FCS, Managing Partner of M/s. MDS Associates LLP, served as the scrutinizer for the postal ballot process.

The Board of Directors believes that Smt. Narayanaswamy's appointment will strengthen the company's financial management and strategic decision-making capabilities, with the proposed remuneration being commensurate with industry standards and her qualifications.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.52%	+0.02%	-4.08%	-31.71%	-7.84%	+413.15%

Magna Electro Castings Limited , a leading player in the electro castings industry, has announced its unaudited financial results for the quarter and half year ended September 30, 2025, alongside a key executive appointment.

Financial Performance

The company reported a robust growth in revenue for the quarter ended September 30, 2025. Revenue from operations reached Rs. 5,233.05 crore, marking a 14.67% increase from Rs. 4,563.59 crore in the same quarter of the previous year. For the half-year period, revenue stood at Rs. 10,085.06 crore, up 14.87% from Rs. 8,779.83 crore in the corresponding period last year.

Despite the revenue growth, the company experienced a slight decline in profitability. Net profit for the quarter decreased to Rs. 541.00 crore from Rs. 671.61 crore in the same quarter last year. Similarly, for the half-year, net profit stood at Rs. 1,206.55 crore, down from Rs. 1,343.64 crore in the previous year.

The financial results are summarized in the table below:

Particulars (Rs. in Crore)	Q2 FY2026	Q2 FY2025	H1 FY2026	H1 FY2025
Revenue from Operations	5,233.05	4,563.59	10,085.06	8,779.83
Total Income	5,281.05	4,613.58	10,178.39	8,882.55
Net Profit	541.00	671.61	1,206.55	1,343.64
EPS (Basic & Diluted) (Rs)	12.78	15.87	28.51	31.75

Executive Appointment

Magna Electro Castings has recommended the appointment of Smt. Nivedita Lakshmi Narayanaswamy as Vice President - Finance, effective January 1, 2026, subject to shareholder approval. This appointment is expected to bring fresh perspectives to the company's financial strategies.

Smt. Narayanaswamy brings over 13 years of global finance experience with multinational organizations. Her most recent role was as Head of Finance for Lume & Mando at Mammoth Brands, New York, where she oversaw FP&A, Supply Chain, and accounting functions for a $400M business unit.

Her educational background includes:

An Executive MBA from Columbia Business School, USA
A Master's degree in International Management from IE Business School, Spain
A Bachelor's degree in Business Administration from Ethiraj College, University of Madras

Smt. Narayanaswamy's appointment is anticipated to strengthen Magna Electro Castings' financial leadership, leveraging her expertise in financial planning, business partnering, and strategic execution.

Operational Update

The company also noted that its Third Moulding Line project was commissioned on June 27, 2025, which may contribute to future operational capabilities.

As Magna Electro Castings navigates through a period of revenue growth and profitability challenges, the appointment of Smt. Narayanaswamy as VP-Finance signals the company's focus on enhancing its financial strategies and operational excellence in the coming years.