Business Update11 May 2026, 02:57 pm
Magnus Steel: Empaneled as Tata Motors Supplier, Order Book ₹32.5 Cr
AI Summary
Magnus Steel and Infra Ltd has been empaneled as an approved steel supplier for Tata Motors' upcoming manufacturing facilities in Gujarat and Maharashtra. The company has commenced supplies through Tata Motors' project contractor, M/s. RIECO Industries Limited, and has received purchase orders aggregating ₹32.5 Crores. Orders executed in March-April 2026 totaled approximately 1,200 Metric Tonnes aggregating ₹8.50 Crores. Additional pipeline orders for FY 2026-27 are approximately ₹24 Crores. This engagement marks Magnus Steel's entry into the automotive OEM infrastructure supply chain and diversifies its revenue base.
Key Highlights
- Magnus Steel becomes approved steel supplier for Tata Motors' new plants.
- Current order book from Tata Motors engagement is approximately ₹32.5 Crores.
- Company has already executed orders worth ₹8.50 Crores in March-April 2026.
- This diversifies Magnus Steel's revenue into the automotive infrastructure sector.
- No promoter interest in RIECO Industries or Tata Motors.