**BSE Scrip Code: 517320 | ISIN: INE898E01011** Magnus Steel & Infra Limited (formerly **Magnus Retail Limited** and **Savant Infocomm Limited**) is an Indian listed entity that has recently completed a comprehensive structural and operational metamorphosis. Following a change in control in **March 2025**, the company has transitioned from a legacy of IT services and agro-trading into a specialized player in the **iron, steel, and infrastructure sectors**. --- ### **The Strategic Pivot: From IT and Agro to Industrial Metallurgy** The company’s business model has evolved through three distinct phases, culminating in its current industrial focus: * **Phase 1: Legacy IT Services (Pre-2023):** Originally operating as **Savant Infocomm Limited**, the company provided hardware, software, and BPO services. These operations had been largely non-operative since **2002**. * **Phase 2: Agro-Trading Transition (2023–2024):** Rebranded as **Magnus Retail Limited**, the company pivoted to the trading of agricultural products, specifically fresh fruits and vegetables. * **Phase 3: Industrial Steel & Infra (Post-March 2025):** Following a mandatory open offer and change in promoters, the company rebranded to **Magnus Steel & Infra Limited**. It now focuses on the manufacturing, processing, and trading of ferrous and non-ferrous metals. --- ### **Core Operational Verticals & Product Portfolio** The company’s amended **Memorandum of Association (MoA)** provides a broad mandate across the metallurgical and agricultural value chains: #### **1. Iron, Steel & Metallurgical Operations** The primary growth engine of the company involves the processing and trading of high-value industrial metals: * **Manufacturing & Processing:** Capabilities include **heat and cold treatment** of alloy and stainless steel, metal founding, forging, drawing, and rolling/re-rolling. * **Product Range:** Production of steel shaftings, bars, rods, wire, nails, screws, and metal hinges. The company also fabricates products from **scraps, billets, and ingots** using electric furnaces. * **Material Scope:** Covers both **ferrous and non-ferrous metals**, including brass, copper, lead, zinc, and nickel in various forms such as plates, sheets, strips, hoops, and angles. * **Trading & Logistics:** Buying, selling, importing, and exporting **iron ore, coking coal, and ferro-alloys**. #### **2. Agriculture & Food Processing (Legacy/Diversified Segment)** While the focus has shifted to steel, the company retains the capacity to operate in: * **Horticulture & Plantation:** Management of orchards for **grapes, oranges, apples, and mangoes**; engagement in floriculture and sericulture. * **Food Value Chain:** Manufacturing of beverages from agricultural produce and providing specialized **preservation and preparation** services for organic products for global markets. --- ### **Corporate Evolution & Ownership Structure** A significant change in leadership occurred in **March 2025**, aligning the company with the expertise of the new promoter group. | Feature | Details | | :--- | :--- | | **New Promoters** | **Karronn Naresh Bajaj** and **Aditya Naresh Bajaj** | | **Acquisition Stake** | **24,87,843 shares (73.60% of voting capital)** acquired via SPA and Open Offer | | **Registered Office** | Relocated from **Nashik** to **Pune, Maharashtra** (Early 2026) | | **Listing Status** | Listed on **BSE**; currently under **GSM Stage 4** surveillance | | **Subsidiaries** | **None** (No JVs or associate companies) | **Board of Directors:** * **Karronn Naresh Bajaj (MD & CEO):** Over **8 years** of experience in steel trading. * **Aditya Naresh Bajaj (Whole Time Director):** Leading operational execution. * **Naresh Rupchand Bajaj (Non-Executive Director):** Over **45 years** of industrial experience in retail and industrial steel. --- ### **Financial Performance & Capital Strategy** The company has successfully executed a financial turnaround, moving from a period of sustained losses to operational profitability in **FY 2024-25**. #### **Comparative Financial Summary** | Metric (Rs. in Lacs) | FY 2024-25 (Audited) | FY 2023-24 (Audited) | FY 2022-23 (Audited) | | :--- | :--- | :--- | :--- | | **Total Revenue** | **319.00** | **66.54** | **Nil** | | **Net Profit / (Loss)** | **5.67 (Profit)** | **(37.81) (Loss)** | **(29.06) (Loss)** | | **Paid-up Capital** | **338.03** | **338.03** | **338.03** | #### **Capital Raising Initiatives (2025-2026)** To fund its industrial expansion, the company has aggressively sought to strengthen its balance sheet: * **Preferential Issue (Jan 2026):** The Board approved an issue of up to **4,50,00,000 Equity Shares** at **Rs. 10 per share** (at par) to raise **Rs. 45.00 Crore**. * **Utilization of Funds:** **75%** of proceeds are earmarked for **Working Capital** requirements in the steel segment, with the remaining **25% (Rs. 11.25 Crore)** for general corporate purposes. * **Authorized Capital Expansion:** Increased from **Rs. 10 Crore** to **Rs. 50 Crore** in **2025** to facilitate equity growth. --- ### **Valuation Metrics (Open Offer Context)** During the **2024-2025** takeover, the company’s equity was valued using a **Market Approach** due to infrequent trading: * **Fair Value per Share:** **Rs. 6.35** (as of Dec 2024). * **Open Offer Price:** **Rs. 7.00** per share. * **Escrow Security:** **Rs. 62.00 Lacs** was deposited with **Kotak Mahindra Bank**, representing over **100%** of the offer consideration, ensuring liquidity for exiting shareholders. --- ### **Risk Profile & Mitigation Matrix** The company operates in a high-volatility sector and is currently navigating a complex turnaround. | Risk Category | Description | Mitigation/Status | | :--- | :--- | :--- | | **Operational Continuity** | Historical suspension of core activities led to "Going Concern" warnings. | New promoters have provided undertakings to fund all administrative and operational expenses. | | **Capital Execution** | A **Rs. 49.50 Cr Rights Issue** was withdrawn in Oct 2025 due to low subscription. | Replaced by a **Rs. 45.00 Cr Preferential Issue** targeting specific non-promoter investors. | | **Market Volatility** | Exposure to international steel prices and raw material (coking coal) fluctuations. | Lean, trading-centric model with **zero physical inventory** (as of June 2025) to minimize holding risk. | | **Regulatory Compliance** | Subject to **GSM Stage 4** and strict **SEBI (PIT)** regulations. | Appointment of a new **Company Secretary & Compliance Officer** in Dec 2025 to streamline governance. | | **Interest Rate Risk** | Potential impact of rising rates on future borrowings. | Current long-term debt obligations are maintained at **fixed interest rates**. | ### **Future Outlook** Magnus Steel & Infra Limited is positioned as a "lean-start" industrial player. By leveraging the **Bajaj Group’s** 45-year legacy in the steel trade and utilizing the **Rs. 45 Crore** planned capital infusion, the company aims to scale its processing and trading volumes. The relocation to **Pune** places the company in a strategic industrial hub, facilitating better access to the automotive and infrastructure sectors in Western India.