Southern Magnesium & Chemicals

Southern Magnesium & Chemicals Limited, a venture promoted by Dr. N B Prasad and family, is engaged in the business of manufacturing magnesium metal. The company's key objective is to increase its market share by building strong customer relationships, creating a solid base for sustainable growth. Initially set up to produce primary magnesium, it later shifted its focus to downstream products due to the market impact of imports. Its main product offerings currently include magnesium powders, turnings, and regular magnesium metal ingots for various industrial uses. The business model prioritizes maximizing returns on limited resources by focusing on orders with high value addition, even with smaller volumes. For the financial year 2023-24, the company recorded revenue of ₹946.70 Lakhs and a net profit of ₹333.04 Lakhs.;