Magna Electro Castings Limited has announced the resignation of a key senior management personnel, marking the end of a significant tenure in the company's leadership structure.

Senior Management Transition

Sri. V. Mohanraj, Vice President - Marketing and Senior Management Personnel, has tendered his resignation from Magna Electro Castings Limited due to personal reasons. The resignation follows regulatory disclosure requirements under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Leadership Continuity

Following Mohanraj's departure, the Marketing Department will continue to operate under established leadership. Sri. Ajeya Vel Narayanasmamy, Executive Director - Marketing, will continue to head the Marketing Department, ensuring operational continuity and strategic direction.

Resignation Letter Highlights

In his resignation letter dated 6th February, 2026, Mohanraj reflected on his extensive career with the organization. He expressed gratitude for his 32-year journey with Magna Electro Castings Limited, acknowledging the management's support and collaboration with team members across all levels. The departing executive committed to ensuring a smooth transition and extending full support during the handover period.

Regulatory Compliance

The company has fulfilled its disclosure obligations under Regulation 30 read with Para A (7C) of Part A of Schedule III of the SEBI Listing Regulations. The announcement was made through proper channels to BSE Limited, ensuring transparency and regulatory compliance for all stakeholders.

The transition represents a significant change in the company's senior management structure, concluding more than three decades of service from a key marketing leadership position.

Magna Electro Castings Limited announced its unaudited financial results for the quarter and nine months ended 31st December 2025, alongside strategic business decisions including solar power investments and facility expansion. The Board of Directors approved these developments during their meeting held on 10th February 2026.

Financial Performance Overview

The company's financial performance for the quarter ended 31st December 2025 demonstrated steady operational results across key metrics.

Nine-Month Performance Analysis

For the nine months ended 31st December 2025, the company achieved revenue from operations of Rs. 14,882.64 lakhs compared to Rs. 13,093.87 lakhs in the corresponding previous period, representing a growth of 13.66%. Net profit for the nine-month period stood at Rs. 1,581.78 lakhs against Rs. 1,830.01 lakhs in the previous year.

Strategic Solar Power Investment

The Board approved an equity investment in First Energy TN1 Private Limited (FETPL) for procurement of additional 1.1 MW solar power under Group Captive Scheme as required under the Electricity Act, 2003. The investment details include:

The company already holds 14,40,000 equity shares representing 6.25% of FETPL's share capital in relation to the existing solar captive power plant at Sivaganga District. This additional investment aims to comply with the minimum shareholding requirement of 26% by captive users under the Electricity Act, 2003.

New Campus Development

Magna Electro Castings announced the establishment of a new South Campus at SF No. 49, Mullupadi, Kinathukkadavu, Pollachi, Coimbatore – 642109 on company-owned land situated near its existing factory premises. The new campus is designed exclusively for ancillary and allied operational activities supporting the company's existing manufacturing operations, without adding to the manufacturing capacity.

Financial Position and Capital Structure

The company maintains a stable capital structure with paid-up equity share capital of Rs. 423.21 lakhs, consisting of shares with a face value of Rs. 10 each. Reserves and surplus stood at Rs. 13,849.75 lakhs as of 31st December 2025, compared to Rs. 12,033.06 lakhs in the previous year, indicating strengthened financial reserves.