Magna Electro Castings gets in-principle approval for merger
Magna Electro Castings Limited announced that its Board of Directors has granted in-principle approval for the proposed merger of Samrajyaa Precision Machining Private Limited with Magna Electro Castings Limited. The company also approved the unaudited financial results for the quarter ended June 30, 2026, reporting a profit after tax of ₹372.55 Lakhs. Additionally, the Board approved the establishment of a new machining division at its Coimbatore facility. The merger is subject to further approvals from independent directors, shareholders, creditors, and regulatory authorities, including the National Company Law Tribunal.
Key Highlights
- Board grants in-principle approval for merger with Samrajyaa Precision Machining.
- Q1 FY27 PAT stands at ₹372.55 Lakhs, revenue from operations ₹5,081.48 Lakhs.
- Approval for setting up a new machining division in Coimbatore.
- Merger requires further regulatory and shareholder approvals.
- Company appointed Registered Valuer and Merchant Bankers for merger.
Price Impact
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