Magna Electro Castings Seeks Shareholder Approval for Key Executive Appointment

Magna Electro Castings has initiated a postal ballot process to seek shareholder approval for a significant corporate action. The company is proposing to appoint Smt. Nivedita Lakshmi Narayanaswamy as Vice President-Finance, effective January 1, 2026.

Key Details of the Proposed Appointment

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

Voting Process and Timeline

The company has set up an electronic voting (e-voting) process for shareholders to cast their votes on this resolution.

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 Shareholder Eligibility	November 14, 2025

Candidate Profile

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 background includes:

Chartered Global Management Accountant (CGMA)
Executive MBA from Columbia Business School, USA
Master's degree in international management from IE Business School, Spain
Bachelor's degree in business administration from Ethiraj College, University of Madras

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.

Corporate Governance Considerations

The appointment requires shareholder approval as it falls under the purview of related party transactions. The proposed remuneration exceeds the threshold of Rs. 2.50 lakhs per month, necessitating shareholder consent as per Section 188(1) of the Companies Act, 2013.

Financial Impact

The proposed remuneration represents approximately 0.43% of Magna Electro Castings' annual turnover for the Financial Year 2024-25.

Board's Justification

The Board of Directors believes that Smt. Narayanaswamy's appointment will strengthen the company's financial management and strategic decision-making capabilities. They assert that the proposed remuneration is commensurate with her qualifications, experience, and industry standards, and that the transaction is in the ordinary course of business and on an arm's length basis.

Shareholders are encouraged to review the full postal ballot notice and cast their votes through the e-voting system provided by M/s. MUFG Intime India Private Limited. The results of the postal ballot will be announced within two working days from the conclusion of the e-voting period.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.40%	+0.11%	+1.54%	+9.43%	-0.68%	+493.43%

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.