Magnus Steel and Infra Ltd (517320)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Magnus Steel's revenue was ₹7.3 Cr (+274.5% year on year, +2.3% on the previous quarter), and net profit ₹2.4 Cr (+488.1% year on year); the operating margin was 33.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹7.3 | +274.5% | +2.3% |
| Operating profit | ₹2.4 | +402.4% | +58.6% |
| Net profit | ₹2.4 | +488.1% | +58.6% |
| EPS (₹) | 7.13 | — | — |
| Operating margin | 33.0% | — | — |
📢 Recent Corporate Announcements
Magnus Steel and Infra has scheduled a Rights Issue Committee meeting for October 21, 2026, to determine the issue price, entitlement ratio, and record date for its planned Rights Issue. The Rights Issue size is up to ₹40 crore, which is substantial compared to the company's current market cap of approximately ₹21 crore and net worth of ₹3 crore. The company has already received in-principle approval from the stock exchange. The trading window has been closed effective October 15, 2026.
- Rights Issue Committee to meet on October 21, 2026 to finalize issue price and terms
- Proposed Rights Issue amount capped at not exceeding ₹40,00,00,000 (₹40 crore)
- Fully paid-up equity shares with face value of ₹10.00 each to be issued
- In-principle approval has already been received from the Stock Exchange
- Trading window closed from October 15, 2026 until 48 hours post-meeting
Magnus Steel and Infra Ltd has received in-principle approval from BSE Limited on October 07, 2026, for its proposed Rights Issue of fully paid-up equity shares. This follows the company's application submitted to the exchange on July 16, 2026. The approval permits the company to use BSE's name in its Letter of Offer subject to standard disclaimer inclusions. The specific issue size, rights entitlement ratio, and issue price have not been disclosed in this intimation.
- Received BSE in-principle approval dated October 07, 2026
- Approval relates to an application submitted earlier on July 16, 2026
- Company permitted to use BSE name in the Letter of Offer for proposed Rights Issue
- Detailed issue size, pricing, and record date are not disclosed in the document
Magnus Steel and Infra Ltd reported a robust start to FY27, with quarterly revenue reaching ₹7.30 Cr, a 274% increase from ₹1.95 Cr in the same period last year. Net profit jumped nearly six-fold to ₹2.41 Cr, up from ₹0.41 Cr YoY, reflecting the company's successful transition into steel trading. Profitability was further supported by a ₹0.86 Cr credit from inventory changes and the absence of tax provisions due to carried-forward losses. The quarterly EPS rose sharply to ₹7.13 from ₹1.21 in the year-ago quarter.
- Revenue from operations grew 274% YoY to ₹7.30 Cr from ₹1.95 Cr.
- Net profit increased 490% YoY to ₹2.41 Cr compared to ₹0.41 Cr in June 2025.
- Quarterly EPS surged to ₹7.13 from ₹1.21 in the corresponding previous year quarter.
- Total expenses were managed at ₹4.89 Cr, with a significant inventory credit of ₹0.86 Cr aiding margins.
- No tax provision was made for the quarter due to existing carried-forward losses.
Magnus Steel and Infra Ltd reported a robust Q1 FY27 with revenue rising 274% YoY to Rs 7.30 Cr. Net profit saw a massive 488% YoY increase to Rs 2.41 Cr, compared to Rs 0.41 Cr in the same quarter last year. Sequentially, while revenue grew a modest 2.3%, net profit surged 58% from Rs 1.52 Cr in Q4 FY26. The company is currently not paying taxes due to carried-forward losses, which significantly boosted the bottom line.
- Revenue from operations grew 274% YoY to Rs 7.30 Cr from Rs 1.95 Cr.
- Net profit increased 488% YoY to Rs 2.41 Cr, representing nearly 48% of the previous TTM PAT.
- Quarterly EPS stood at Rs 7.13, a significant jump from Rs 1.21 in the year-ago period.
- Total expenses for the quarter were contained at Rs 4.89 Cr against a total income of Rs 7.30 Cr.
- No tax provision was made for the quarter due to carried-forward and current losses.
Magnus Steel and Infra Ltd has postponed its Rights Issue Committee meeting originally scheduled for July 21, 2026. The meeting was intended to finalize the record date, issue price, and entitlement ratio for a rights issue previously approved by the Board on July 15, 2026. The postponement is due to the pending in-principle approval from the Stock Exchange. The company intends to reconvene the meeting within one working day once the regulatory approval is received.
- Rights Issue Committee meeting scheduled for July 21, 2026, has been postponed
- The Rights Issue was initially approved by the Board of Directors on July 15, 2026
- Meeting to be rescheduled within 1 working day after receiving In-Principle approval from the Stock Exchange
- Company is currently transitioning from retail to the steel and infrastructure sector with a small net worth of ₹3 Cr
Magnus Steel and Infra Ltd has convened a Rights Issue Committee meeting on July 21, 2026, to finalize the specific terms of its proposed fundraise. The company intends to raise up to Rs 40 crore through the issuance of fully paid-up equity shares of face value Rs 10 each. This meeting will determine the crucial issue price, the rights entitlement ratio, and the record date for eligible shareholders. The trading window for insiders has been closed effective July 16, 2026, in anticipation of these price-sensitive decisions.
- Rights Issue size capped at a maximum of Rs 40,00,00,000 (Rs 40 Crores)
- Committee meeting scheduled for July 21, 2026, to decide the issue price and entitlement ratio
- Equity shares carry a face value of Rs 10.00 per share
- Trading window for designated persons closed from July 16, 2026, until 48 hours post-meeting
- Initial board approval for the issuance was granted on July 15, 2026
Magnus Steel and Infra Ltd has approved a fundraise of up to ₹40.00 crore through a Rights Issue of equity shares. The shares will have a face value of ₹10 each, with the final issue price and entitlement ratio to be decided by a newly formed Rights Issue Committee. The board has also approved the Draft Letter of Offer for filing with the BSE. This capital infusion is intended for eligible shareholders as of a record date to be announced later.
- Aggregate fundraise amount approved up to ₹40.00 Crores via Rights Issue
- Equity shares to be issued at a face value of ₹10.00 each
- Rights Issue Committee formed consisting of 3 members to finalize terms
- Board meeting concluded at 01:45 PM on July 15, 2026, following a 12:30 PM start
Magnus Steel and Infra Ltd has approved a fundraise of up to ₹40 crore through the issuance of equity shares on a rights basis. The board has approved the Draft Letter of Offer to be filed with the BSE and has constituted a Rights Issue Committee to manage the process. The specific issue price, entitlement ratio, and record date will be determined and announced at a later stage. This move follows previous board intimations from July 09 and July 14, 2026.
- Aggregate fundraise amount approved up to ₹40,00,00,000 (₹40 Crores)
- Issuance of equity shares with a face value of ₹10.00 each
- Constitution of a 3-member Rights Issue Committee led by Mr. Karronn Bajaj
- Draft Letter of Offer approved for filing with BSE Limited
- Board meeting concluded within 75 minutes (12:30 PM to 01:45 PM)
Magnus Steel and Infra Ltd has postponed its Board of Directors meeting from July 14, 2026, to July 15, 2026. The meeting's primary agenda is to consider and approve a proposal for fundraising. The company cited the non-availability of certain directors as the reason for the 24-hour delay. The trading window for designated persons has been closed since July 9, 2026, and will remain so until 48 hours after the meeting concludes.
- Board meeting rescheduled from July 14, 2026, to July 15, 2026
- Agenda remains focused on considering a proposal for fundraising
- Trading window for designated persons closed since July 9, 2026
- Trading window to remain closed until 48 hours post-meeting closure
Magnus Steel and Infra Ltd has scheduled a board meeting for July 14, 2026, to deliberate on augmenting financial resources. The company is considering various fundraising routes including preferential allotments, rights issues, QIPs, ADRs, GDRs, and FCCBs. While the specific quantum of capital is not yet disclosed, the move indicates a strategic intent to secure growth capital or improve liquidity. The trading window for insiders has been closed effective July 9, 2026, in anticipation of this material event.
- Board meeting scheduled for July 14, 2026, to approve capital raising initiatives.
- Multiple instruments under consideration including Equity, QIP, Rights Issue, and FCCBs.
- Trading window for designated persons closed from July 9, 2026.
- Trading window to remain closed until 48 hours after the board meeting concludes.
- Fundraising intended to 'augment financial resources' of the company.
Magnus Steel and Infra Ltd has announced a significant leadership transition effective July 8, 2026. Managing Director Chinmay Pradhan, Additional Executive Director Prakash Salve, and Independent Director Aarti Singh have all resigned, citing personal and professional commitments. Mr. Karronn Bajaj, an existing director with 9 years of experience in steel trading and manufacturing, has been appointed as the new Managing Director. The company has also reconstituted its Audit, Nomination and Remuneration, and Stakeholders Relationship committees to ensure regulatory compliance.
- Resignation of 3 board members including the Managing Director effective close of business July 8, 2026
- Appointment of Mr. Karronn Bajaj as Managing Director, who holds 7,54,733 shares in the company
- New MD Karronn Bajaj brings 9 years of industry experience in Steel Trading and Manufacturing
- Reconstitution of the Audit Committee, now chaired by Independent Director Ms. Kunal Sorathia
- Board meeting conducted within 75 minutes, from 03:00 PM to 04:15 PM IST
Magnus Steel and Infra Ltd announced a major leadership overhaul on July 8, 2026. Managing Director Chinmay Pradhan, Additional Executive Director Prakash Salve, and Independent Director Aarti Singh have all resigned simultaneously, citing personal and professional commitments. Mr. Karronn Bajaj, a promoter-group member with 9 years of experience in steel trading, has been appointed as the new Managing Director. Consequently, the company has reconstituted its Audit, Nomination & Remuneration, and Stakeholders Relationship committees.
- 3 directors resigned from the board simultaneously on July 8, 2026
- Mr. Karronn Bajaj, holding 7,54,733 shares, appointed as the new Managing Director
- New MD brings over 9 years of experience in the steel trading and manufacturing sector
- Board committees reconstituted including the Audit Committee now chaired by Ms. Kunal Sorathia
- The board meeting concluded within 75 minutes (15:00 to 16:15 IST)
Financial Performance
Revenue Growth by Segment
Not disclosed in available documents. The company reported having no active operations during the period, leading to marginal changes in financials and most ratios being zero.
Geographic Revenue Split
Not disclosed in available documents. The company operates from its registered office in Nashik, Maharashtra.
Profitability Margins
Not disclosed in available documents. While the auditor's report mentions a 'Profit', specific percentage margins are not provided due to the lack of operational activity.
EBITDA Margin
Not disclosed in available documents. Ratios are reported as zero or varying only due to marginal financial changes.
Capital Expenditure
Not disclosed in available documents. The company is currently in a transition phase following a change in management and name.
Credit Rating & Borrowing
Not disclosed in available documents. The company is planning a fund-raising activity via preferential issue/private placement in January 2026.
Operational Drivers
Raw Materials
Not applicable as the company is primarily a trading entity in the Iron & Steel segment with no current manufacturing operations.
Key Suppliers
Not disclosed in available documents. The company identifies 'low cost suppliers' and 'competitive nations' as general market threats.
Capacity Expansion
Current capacity is not disclosed. The company is planning a fund-raising event on January 15, 2026, to potentially finance future business activities or expansion.
Raw Material Costs
Not disclosed in available documents. As a trading company with no current operations, raw material costs are not a primary metric for the reporting period.
Manufacturing Efficiency
Not applicable. The company currently has no employees except for a Company Secretary and reports no active operations.
Strategic Growth
Growth Strategy
The company intends to capitalize on the improvement in the Iron & Steel industry by leveraging new management's technical and finance expertise. A key strategy includes raising funds through a preferential issue or private placement of securities scheduled for January 2026 to provide capital for new business directions.
Products & Services
Trading services related to the Iron & Steel industry.
Brand Portfolio
Magnus Steel and Infra Limited (formerly Magnus Retail Limited).
Market Expansion
The company is transitioning into the steel and infrastructure sector following a change in controlling interest and name change in FY2025.
External Factors
Industry Trends
The Iron & Steel industry is showing improvement. The company is positioning itself to take advantage of significant capital investments and better industrial development expected in coming years.
Competitive Landscape
The industry is characterized by severe competition, technology upgrades, and pricing pressure from low-cost suppliers.
Competitive Moat
The company's moat is currently limited to the 'strong technical, finance and administrative expertise' of the new management team across various corporate sectors.
Macro Economic Sensitivity
Highly sensitive to economic conditions affecting demand/supply and price conditions in domestic and overseas iron and steel markets.
Geopolitical Risks
Competition from 'newly emerging competitive nations' is cited as a threat to the segment's outlook.
Regulatory & Governance
Industry Regulations
Operations are governed by the Companies Act 2013, Securities Contracts (Regulation) Act 1956, and Foreign Exchange Management Act 1999. The company must also adhere to industry-specific standards for the steel sector as they emerge.
Environmental Compliance
The company identifies 'stricter environment laws' as a threat to its operating segment, which may increase future compliance costs.
Taxation Policy Impact
Subject to the Central Goods and Services Tax Act, 2017 and changes in Government tax laws.
Legal Contingencies
INR 0. The company states it does not have any pending litigations that would impact its financial position as of March 31, 2025.
Risk Analysis
Key Uncertainties
The primary uncertainty is the successful deployment of capital from the proposed 2026 fundraise into active operations, given the current lack of business activity.
Third Party Dependencies
High dependency on the new promoter group for funding and strategic direction following the change in control.
Technology Obsolescence Risk
Technology up-gradation is listed as a specific threat to the segment, requiring the company to stay current with industry standards to remain competitive.
Credit & Counterparty Risk
Not disclosed in available documents. The auditor noted no loans or advances were granted to other parties during the year.
