Shares of were locked in the 5% upper circuit in Monday’s trade on 11 May, hitting an intraday high of ₹193 apiece and extending their winning streak to the sixth straight session, defying the broader market selloff.
The continued rally in the small-cap stock came after the company informed investors that it had been empanelled as an approved steel supplier for the upcoming automobile manufacturing projects of in Gujarat and Maharashtra, marking the company’s formal entry into the automotive OEM infrastructure supply chain.
Under the engagement, the company will supply steel products, including HR plates, HR sheets, and channels of various thicknesses ranging from 5 mm to 40 mm, for industrial shed construction at the automobile manufacturing facilities.
The company said it has already commenced supplies through RIECO Industries, the project contractor for the facilities, and has received multiple purchase orders for the supply of steel products to support construction and infrastructure development at the project sites.
The Nashik-based company has already executed orders worth approximately ₹8.50 crore during March and April 2026 and is currently undertaking further deliveries for the ongoing projects.
In addition, Magnus Steel & Infra expects an additional order pipeline of nearly ₹24 crore to be released in multiple phases during FY27, depending on the progress of construction activities, taking the total estimated engagement size to around ₹32.50 crore.
Supplies are currently being executed in line with the phased construction schedule of the manufacturing facilities, according to the company’s press release.
The company said its empanelment followed the successful completion of supplier qualification procedures, including technical evaluations and quality assessments conducted by RIECO Industries.
The order also reflects the company’s ongoing business transformation from its earlier information technology services operations to steel trading and infrastructure supply. It further supports the company’s efforts to diversify beyond the agro-products segment and expand its presence across large-scale industrial and manufacturing projects.
Magnus Steel & Infra Q4 Results FY26
The development comes at a time when the company has reported a strong improvement in its financial performance for FY26. The company posted total revenue of ₹22.58 crore and a net profit of ₹4.51 crore for the financial year, reflecting a sharp improvement in both operations and profitability.
The current engagement linked to Tata Motors’ projects is expected to further strengthen the company’s revenue visibility during FY27.
To support execution of large industrial supply orders, the company has also strengthened its steel procurement network and enhanced its working capital capabilities, while continuing to expand its focus across the infrastructure and manufacturing sectors.
Shares deliver massive returns
The company shares have been steadily rising over the past few years, delivering massive returns to shareholders. In the last six months, the shares have jumped 975% and, in a year, they have rallied 2200%.
Over the last five years, the stock has surged from ₹1.74 apiece to the current trading price of ₹193 apiece, translating into a gain of nearly 11,000%.
In Monday’s session, the stock touched yet another record high of ₹193 apiece.
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