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Magna Electrocastings Ltd. Company History and Annual Growth Details

The company was incorporated as a public limited company on 22nd August 1990 under the name and style of Magna Electronics Limited. Subsequently the name of the company was changed to Magna Electro Castings Limited and a fresh certificate of incorporation was obtained on 23rd December 1992. The company does not have any subsidiaries. The main promoter of the company is Mr. N Krishna Samaraj.

2004

-Magna Electro Castings Ltd has informed that the Company's shares have been delisted from the Madras Stock Exchange w.e.f. January 13, 2004.

2007
-Company has recommended a dividend of 30%.

2008
-Magna Electro Castings Ltd has recommended a dividend of 21% on the equity share capital of the Company.

2009
-Magna Electro Castings Ltd has recommended payment of dividend of Rs 1.50 per share (15%) on the Equity Share Capital.

2010
-Magna Electro Castings Ltd has recommended payment of dividend of Rs. 2 per share (@ 20%) on the Equity Share Capital.

2011
-Magna Electro Castings Ltd has recommended payment of dividend of Rs. 2 per share (@ 20%) on the Equity share Capital

2012
-Magna Electro Castings Ltd has have recommended payment of dividend of Rs. 2/- per share (@20%) on the Equity Share Capital.
-Magna Electro Castings Ltd has informed that Mr. C. R. Swaminathsn has been appointed as a Additional Director in the Board of the Company effective from January 25, 2012

2013
-Magna Electro Castings Ltd has recommended a dividend of 18% (Rupee One and Paise Eighty Only)

-Magna Electro Castings Ltd has established a core assembly shop to improve the dimensional accuracy of castings, installation of New Hunter XL 2024 molding machine,new CAM software and New Intensive Sand Mixer.

2014
-Magna Electro Castings Ltd has recommended payment of dividend Rs. 1.60 per share (@ 16%) on the Equity Share Capital.

- Company's Machineshop division has been awarded second time as a Power User of EDGECAM software for the year 2014.

- Magna Electro Castings Ltd has been awarded with "Best Supplier award for Commitment and Dedication to Excellence" for the year 2014 by FMC Technologies, Measurement.

- Magna Electro Castings Ltd has established a core assembly shop to improve the dimensional accuracy of castings.

- Magna Electro Castings Ltd has Purchased Adaptive Thermal Analysis system

2015

-Magna Electro Castings Ltd certified for ISO 9001 & ISO/ TS16949 certification by Bureau Veritas was schedule for the Recertification audit.

- The Company is pleased to announce the installation of a new state of the art Pressure Blast Equipment to clean the rust and scaling from the inner side of the intricate profile casting, a 1000 kW/1000 Hz Tri Track Inductotherm steel shell furnaces of 3.6 tons capacity,installation of a new Hartford Double Column VMC machine with Nikken Rotary,power packs and 3D PRINTING Technology, Installation of Romer Portable CMM with 3D Scanner and Installation of CATA 2 system for its Furan Nobake continuous Mixer during the year.

2016
-Magna Electro Castings Ltd is recognised with Cash rewards for achieving a new bench mark in the overall Uptime of the Plant during the financial year 2015-16.
-Magna is pleased to announce the installation of a new Twin pallet VMC with 4th axis drive and hydraulic power pack in its captive machine shop.

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