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Permanent Magnets Ltd (504132)

📊 BSE: 504132 🏢 Other Electrical Equipment 📢 Latest filing: 16 Oct 2026 📝 Analysis written: 13 Nov 2025

Q2 FY27 results

📅 Next results: 24 Oct 2026 (board meeting)

Permanent Magnets Ltd's board meets on 24 Oct 2026 to consider its Q2 FY27 results (July-September 2026).

In its latest reported quarter, Q1 FY27, Permanent Magnets' revenue was ₹63.2 Cr (+18.1% year on year, -5.0% on the previous quarter), and net profit ₹3.8 Cr (-38.4% year on year); the operating margin was 17.3%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹63.2	+18.1%	-5.0%
Operating profit	₹11.0	+2.6%	+15.6%
Net profit	₹3.8	-38.4%	-4.8%
EPS (₹)	4.42	-38.4%	-4.7%
Operating margin	17.3%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Permanent Magnets Board to Meet on October 24, 2026 for Q2 FY27 Results

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 16 Oct 2026, 02:51 PM

Permanent Magnets Ltd has scheduled a Board of Directors meeting on October 24, 2026, to consider and approve unaudited standalone and consolidated financial results for Q2 and H1 FY27 (quarter ended September 30, 2026). The trading window for designated persons remains closed and will reopen on October 27, 2026. In the prior quarter (Q1 FY27 ended June 2026), the company posted revenue of Rs 63.23 Cr and net profit of Rs 3.8 Cr.

Board meeting scheduled on Saturday, October 24, 2026
Meeting agenda: approve unaudited standalone and consolidated Q2 / H1 results for period ended September 30, 2026
Trading window closed until 48 hours post-meeting, reopening on October 27, 2026
Statutory auditor Limited Review Report will be reviewed during the meeting

💡 Track the upcoming Q2 FY27 earnings release on October 24, 2026, focusing on revenue momentum in alloy and relay segments against the previous quarter's Rs 63.23 Cr revenue.

Permanent Magnets Appoints Ayush Kumar Jain as Chief Financial Officer

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 30 Sep 2026, 12:03 PM

Permanent Magnets Limited has approved the appointment of Mr. Ayush Kumar Jain as Chief Financial Officer (CFO) and Key Managerial Personnel effective October 1, 2026. This follows the cessation of former CFO Mr. Sukhmal Jain at the close of business on September 30, 2026, which was previously announced on September 3, 2026. Mr. Ayush Kumar Jain has over 9 years of finance experience and was previously General Manager – Finance at the company. He is also authorized under Regulation 30(5) to determine materiality and disclose events to exchanges.

Appointment of Mr. Ayush Kumar Jain as CFO effective October 1, 2026
Cessation of outgoing CFO Mr. Sukhmal Jain effective September 30, 2026
Incoming CFO has over 9 years of experience and is promoted internally from General Manager – Finance
Board meeting commenced at 11:00 AM and concluded at 11:45 AM on September 30, 2026

💡 Track upcoming quarterly financial results for Q2 FY27 to observe continuity in financial reporting, capital allocation, and working capital discipline under the new CFO.

Permanent Magnets Appoints Ayush Kumar Jain as Chief Financial Officer

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 30 Sep 2026, 11:57 AM

Appointment of Mr. Ayush Kumar Jain as CFO effective October 1, 2026
Cessation of outgoing CFO Mr. Sukhmal Jain effective September 30, 2026
Incoming CFO has over 9 years of experience and is promoted internally from General Manager – Finance
Board meeting commenced at 11:00 AM and concluded at 11:45 AM on September 30, 2026

💡 Track upcoming quarterly financial results for Q2 FY27 to observe continuity in financial reporting, capital allocation, and working capital discipline under the new CFO.

Permanent Magnets: 5,000 Promoter Group Shares Dematerialized Post Lock-in

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 27 Aug 2026, 03:43 PM

Permanent Magnets Limited reported the dematerialization and credit of 5,000 equity shares to Mrs. Kamala Anil Taparia (Partner of Shree Orient Corporation, Promoter Group). This follows the completion of a mandatory 6-month lock-in period on August 06, 2026, pursuant to SEBI's circular on physical share transfer re-lodgement. The Letter of Confirmation was originally issued by the RTA on February 07, 2026.

5,000 equity shares dematerialized and credited to promoter group member Mrs. Kamala Anil Taparia
Mandatory 6-month lock-in period successfully completed on August 06, 2026
Letter of Confirmation was originally issued by the RTA on February 07, 2026
Action executed in compliance with SEBI Circular dated July 02, 2025

💡 No action required; this is a routine procedural update regarding physical-to-demat share conversion within the promoter group.

Permanent Magnets Updates Corporate Identification Number Following MOA Amendment

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 27 Aug 2026, 12:41 PM

Permanent Magnets Limited has announced a change in its Corporate Identification Number (CIN) from L27100DN1960PLC000371 to L27103DN1960PLC000371. This follows an amendment to the Object Clause of its Memorandum of Association (MOA) approved by shareholders at the 65th AGM on August 5, 2026, and subsequently approved by the Ministry of Corporate Affairs (MCA). The change stems from an updated National Industrial Classification (NIC) Code and is purely administrative with no operational or financial impact.

Old CIN: L27100DN1960PLC000371 updated to New CIN: L27103DN1960PLC000371
Shareholder approval for the MOA Object Clause amendment was obtained on August 5, 2026 (65th AGM)
NIC Code and CIN updated in the records of the Ministry of Corporate Affairs (MCA)

💡 This is a routine administrative update; investors do not need to take any action. Continue tracking operational execution in core alloy and component expansions.

Subsidiary QMPL Gets MeitY Approval Under ECMS For Neodymium Rare Earth Magnets

🟢 POSITIVE ⭐ 7/10

REGULATORY 📅 18 Aug 2026, 08:32 PM

Permanent Magnets Limited's wholly owned subsidiary, Quantum Magnetics Private Limited (QMPL), has received approval under the Government of India's Electronics Component Manufacturing Scheme (ECMS). The approval is for the domestic manufacturing of Neodymium Magnets (NdFeB / Rare Earth Elements) administered by the Ministry of Electronics and Information Technology (MeitY). While specific capex outlays and financial subsidy details were not disclosed, this clearance enables PML to advance its domestic rare earth magnet supply chain.

Wholly owned subsidiary Quantum Magnetics Private Limited (QMPL) received approval under ECMS.
Approval granted for manufacturing Neodymium Magnets (Rare Earth Elements / NdFeB).
Supported by the Ministry of Electronics and Information Technology (MeitY), Government of India.
Aimed at establishing a domestic manufacturing ecosystem for rare earth permanent magnets.

💡 Track subsequent disclosures for details on capex outlay, production capacity, government incentive quantum, and commercial operation target dates.

19% Revenue Growth in Q1 FY27; PAT Declines 14% YoY on Margin Compression

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 06 Aug 2026, 02:32 PM

Permanent Magnets reported a 19% YoY increase in revenue to ₹63.23 Cr for Q1 FY27, supported by the commissioning of new alloy capacity. However, Profit After Tax (PAT) declined 14% YoY to ₹6.25 Cr, impacted by a 211 bps contraction in EBITDA margins to 19%. The bottom line was further pressured by a 96% surge in finance costs and a 44% increase in depreciation following recent capital expenditures. While the top line shows momentum, the company is currently navigating higher fixed costs associated with its expansion phase.

Revenue from operations increased 19% YoY to ₹63.23 Cr from ₹53.16 Cr.
EBITDA margins contracted to 19% from 21% in the same quarter last year.
Finance costs surged 96% YoY to ₹1.12 Cr, reflecting increased borrowing or interest impact.
Depreciation and Amortisation rose 44% YoY to ₹3.11 Cr due to new capacity commissioning.
Phase 2 CAPEX for Quantum Magnetics is on track for commissioning in Q3 FY27.

💡 Investors should monitor the commercialization of the Relays project in H2 FY27 and the margin trajectory as the new Alloy capacity scales up. The key focus will be whether volume growth can outpace the rising depreciation and interest costs in upcoming quarters.

Q1 FY27 Results: Standalone Revenue up 19% YoY; Consolidated PAT drops 38% to ₹3.80 Cr

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 04 Aug 2026, 04:44 PM

Permanent Magnets reported a mixed Q1 FY27, with standalone revenue growing 18.9% YoY to ₹63.23 Cr. However, consolidated net profit declined significantly by 38.4% YoY to ₹3.80 Cr, primarily due to losses in its subsidiary, Quantum Magnetics, and a sharp rise in consolidated finance costs to ₹2.37 Cr (up from ₹0.62 Cr YoY). While standalone performance showed resilience with a 21% sequential PAT growth over Q4 FY26, the consolidated EPS fell to ₹4.02 from ₹7.17 in the year-ago period.

Standalone Revenue from operations increased 18.9% YoY to ₹63.23 Cr.
Consolidated PAT declined 38.4% YoY to ₹3.80 Cr, indicating a ₹2.45 Cr drag from the subsidiary.
Consolidated Finance Costs surged by 282% YoY to ₹2.37 Cr from ₹0.62 Cr.
Consolidated EPS dropped to ₹4.02 for the quarter compared to ₹7.17 in Q1 FY26.
Company remains under an interim stay order regarding a 2015 winding-up petition.

💡 Investors should monitor the path to profitability for the Quantum Magnetics subsidiary and the reasons behind the sharp spike in finance costs. The core standalone business remains stable, but consolidated margins are currently under pressure from expansion-related costs or subsidiary underperformance.

Rs 63.23 Cr Revenue: Permanent Magnets Q1 Revenue Grows 18% YoY, but Consolidated PAT Drops 38%

🔴 NEGATIVE ⭐ 6/10

EARNINGS 📅 04 Aug 2026, 04:40 PM

Permanent Magnets reported a mixed Q1 FY2027, with consolidated revenue growing 18.1% YoY to Rs 63.23 Cr. However, consolidated Net Profit fell sharply by 38.4% YoY to Rs 3.80 Cr, primarily due to losses in its subsidiary, Quantum Magnetics, and a spike in finance costs. Standalone PAT stood at Rs 6.25 Cr, implying the subsidiary incurred a loss of approximately Rs 2.45 Cr during the quarter. Finance costs rose significantly to Rs 2.37 Cr from Rs 0.62 Cr in the same quarter last year.

Consolidated Revenue from Operations increased 18.1% YoY to Rs 63.23 Cr from Rs 53.55 Cr.
Consolidated Net Profit declined 38.4% YoY to Rs 3.80 Cr compared to Rs 6.17 Cr in Q1 FY2026.
Finance costs surged by 282% YoY to Rs 2.37 Cr, impacting the bottom line.
Standalone PAT of Rs 6.25 Cr vs Consolidated PAT of Rs 3.80 Cr indicates a Rs 2.45 Cr drag from the subsidiary.
Company remains under an interim stay order from the Bombay High Court regarding a 2015 winding-up matter.

💡 Investors should monitor the path to profitability for the Quantum Magnetics subsidiary and the reasons behind the sharp increase in finance costs, which are eroding operating gains.

Permanent Magnets to consider Q1 FY2027 results on August 4, 2026

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 27 Jul 2026, 12:02 PM

Permanent Magnets Ltd has scheduled a board meeting for August 4, 2026, to approve its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. This follows a fiscal year (FY25) where the company achieved ₹200 Cr in revenue and a net profit of ₹15 Cr. Investors will be monitoring if the company can maintain its 20-30% revenue CAGR target for FY2027. The trading window for designated persons will remain closed until August 6, 2026.

Board meeting scheduled for August 4, 2026, to approve Q1 FY2027 results
Trading window for insiders to reopen on August 7, 2026
Company is targeting a 20-30% revenue CAGR for the FY2027 period
Previous year same quarter (Jun 2025) revenue stood at ₹53.16 Cr
Current TTM revenue is ₹225 Cr with a market capitalization of ₹736 Cr

💡 Watch for the earnings release on August 4 to see if the company meets its 20-30% growth guidance and if margins improve from the TTM level of 17.3%.

Permanent Magnets Ltd to hold 65th AGM on August 5, 2026; Cut-off date July 28

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 14 Jul 2026, 11:14 AM

Permanent Magnets Ltd has announced its 65th Annual General Meeting (AGM) scheduled for August 5, 2026, to be held via video conferencing. The company has released its Annual Report for the Financial Year 2025-26 and provided a digital access link to shareholders. A cut-off date of July 28, 2026, has been established to determine eligibility for electronic voting on AGM resolutions. This filing is a standard regulatory procedure for shareholder communication.

65th Annual General Meeting scheduled for August 5, 2026, at 2:30 p.m. IST
Cut-off date for e-voting eligibility set for July 28, 2026
Annual Report for FY 2025-26 made available via digital web-link
Meeting to be conducted through Video Conferencing/Other Audio-Visual means

💡 Investors should review the FY 2025-26 Annual Report for detailed financial performance and management commentary ahead of the July 28 voting cut-off.

₹225 Cr Revenue in FY26; PML Reports 17% EBITDA Margin and Alloys Scale-up

🟢 POSITIVE ⭐ 6/10

ROUTINE 📅 13 Jul 2026, 04:31 PM

Permanent Magnets Ltd (PML) reported a 13% YoY growth in standalone revenue to ₹225 crores for FY26, marking a recovery after a flat FY25. Profitability improved significantly with EBITDA margins rising to 17% from 14%, driven by a better product mix and the commercialization of a new Alloys furnace in Q4 FY26. While the high-value Latching Relays project is delayed to H2 FY27 due to extended customer testing, the company is progressing on its long-term goal of 5,000 tonnes of rare earth magnet capacity by FY31.

Standalone Revenue grew 13% YoY to ₹225 crores in FY26, led by a strong second-half recovery.
EBITDA margins expanded to 17% from 14% in the previous year due to favorable product mix.
Standalone Net Profit increased by 36% YoY, even after absorbing one-time labor code provisions.
Latching Relays commercialization timeline pushed back to H2 FY27 from original estimates.
Quantum Magnetics subsidiary targeting 5,000 tonnes of integrated magnet capacity by FY31.

💡 Watch for the commercial ramp-up of Latching Relays in H2 FY27 and the execution of the rare earth magnet value chain under the Quantum Magnetics subsidiary.

Permanent Magnets Ltd to Hold 65th AGM on August 05, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 13 Jul 2026, 03:19 PM

Permanent Magnets Ltd has scheduled its 65th Annual General Meeting (AGM) for August 05, 2026. The meeting will be conducted virtually via Video Conferencing or Other Audio-Visual Means starting at 2:30 p.m. IST. This is a standard regulatory filing in compliance with SEBI (LODR) Regulations, 2015. The detailed notice containing specific resolutions has been made available on the company's website.

65th Annual General Meeting scheduled for August 05, 2026
Meeting to be held at 2:30 p.m. (IST)
Conducted via Video Conferencing/Other Audio-Visual Means
Notice issued pursuant to Regulation 30 of SEBI (LODR) Regulations

💡 Investors should review the detailed AGM notice on the company's website for specific voting items, including dividend approvals or director re-appointments.

Permanent Magnets Ltd sets July 28, 2026 as Record Date for FY26 Dividend

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 13 Jul 2026, 02:21 PM

Permanent Magnets Ltd has announced its 65th Annual General Meeting (AGM) for August 05, 2026. The company has fixed July 28, 2026, as the Record Date to determine shareholder eligibility for the FY 2025-26 dividend and voting rights. The Register of Members and Share Transfer Books will be closed from July 29 to August 05, 2026. Remote e-voting is scheduled to take place between August 01 and August 04, 2026.

65th Annual General Meeting scheduled for August 05, 2026, at 2:30 p.m. via video conference.
Record Date for FY 2025-26 dividend entitlement fixed as July 28, 2026.
Book closure period set from July 29, 2026, to August 05, 2026 (both days inclusive).
Remote e-voting facility opens on August 01, 2026 (10:00 a.m.) and closes on August 04, 2026 (5:00 p.m.).

💡 Investors seeking the FY 2025-26 dividend must hold shares by the Record Date of July 28, 2026. Watch for the AGM outcome to confirm the dividend payout amount and timeline.

View All 504132 Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company reported a 41.44% YoY revenue growth in FY2023 to INR 183.53 Cr, followed by a 9.77% growth to INR 201.47 Cr in FY2024. Segment-wise revenue mix as of Q2 FY2026 shows Energy Meters at 37% (down from 45%), Automotive at 22% (down from 30%), Current Transformers (CT) at 10%, Magnetic Assemblies at 9%, and Alloys at 7%.

Geographic Revenue Split

PML maintains a global presence across India, the USA, Europe, and Brazil. While specific percentage splits per region are not disclosed, the company notes that its largest customer for the energy meter segment is based in the USA, making it sensitive to US trade policies.

Profitability Margins

Net profit margins (PAT) stood at 16.21% in FY2023 (INR 29.75 Cr) but declined to 11.29% in FY2024. For H1 FY2025, the operating margin was 14.53%. The decline is primarily attributed to a change in the sales product mix and lower demand in the high-margin EV segment.

EBITDA Margin

EBITDA margins were 24.98% in FY2023, which compressed to 18.70% in FY2024 and further to approximately 12% in recent quarters. Management expects a recovery to a sustainable range of 16% to 18% as the product mix stabilizes with higher alloy and relay contributions.

Capital Expenditure

PML is undertaking a major CAPEX of INR 25-30 Cr to shift its entire plant and machinery to a new site, expected to be completed by FY2027. Additionally, the company is expanding its alloy capacity to 750 tons annually to support growth in the aerospace and oil & gas sectors.

Credit Rating & Borrowing

The company's credit rating was upgraded in April 2024 to 'ACUITE BBB- | Stable' for long-term and 'ACUITE A3' for short-term facilities totaling INR 34.48 Cr. The upgrade reflects a healthy financial risk profile with a low gearing of 0.05 times as of March 31, 2023.

⚙️ Operational Drivers

Raw Materials

Key raw materials include Alnico (Aluminum, Nickel, and Cobalt) and virgin alloys. The company also utilizes recycled materials for specific alloy production depending on customer requirements and margin targets.

Import Sources

Not specifically disclosed, though the company mentions exposure to foreign exchange fluctuations, suggesting significant international sourcing for specialized magnet components.

Key Suppliers

Not disclosed in available documents; however, the company maintains long-term associations with suppliers spanning over two to three decades.

Capacity Expansion

Current alloy capacity is being scaled to 750 tons per year post-furnace installation. The company is also expanding into block cutting and magnetic assembly through its Quantum Magnetics division.

Raw Material Costs

Raw material costs are a significant driver of margins; volatility in Alnico component prices (Nickel/Cobalt) directly impacts the EBITDA. The company uses a natural hedge to mitigate some forex-related cost risks.

Manufacturing Efficiency

The company reported a high Return on Capital Employed (ROCE) of 41.70% in FY2023, up from 35.95% in FY2022, indicating high capital efficiency despite recent margin compression.

📈 Strategic Growth

Expected Growth Rate

20-30%

Growth Strategy

Growth will be driven by a 20-30% revenue CAGR target for FY2027 through the scale-up of the alloy and relay businesses, forward integration into modules and components, and the relaxation of import restrictions for the Quantum Magnetics assembly business.

Products & Services

Alnico Magnets, Magnetic Assemblies, parts for Electricity and Gas Meters, EV components, Alloy castings, Relays, and Current Transformers (CT).

Brand Portfolio

Permanent Magnets Limited (PML), Quantum Magnetics.

New Products/Services

New product launches include alloy castings, modules, and forward-integrated components, which are expected to seize growth momentum over the medium term.

Market Expansion

PML is targeting the aerospace, defense, and oil & gas sectors with its new alloy capacity. It is also expanding its footprint in the EV and smart meter markets globally.

Market Share & Ranking

Not disclosed; however, PML is the flagship company of the Taparia Group and has been operational since 1960.

Strategic Alliances

The company operates Quantum Magnetics as a specialized division for magnetic assemblies and block cutting.

🌍 External Factors

Industry Trends

The industry is shifting toward smart meters and EV components. While EV demand was subdued in FY2025, the long-term trend remains positive, and PML is positioning itself through forward integration into assemblies.

Competitive Landscape

The market is highly competitive and fragmented, featuring both large organized players and smaller unorganized manufacturers.

Competitive Moat

PML's moat is built on 60+ years of technical expertise in magnetics and long-term (20-30 year) relationships with global OEMs, which are difficult for new entrants to replicate.

Macro Economic Sensitivity

Highly sensitive to global EV demand and international trade policies, particularly US import tariffs which affect the meter business.

Consumer Behavior

Shift toward green energy and smart infrastructure is driving demand for PML's high-precision magnetic components in meters and EVs.

Geopolitical Risks

US-China trade tensions and resulting US tariffs impact the competitive positioning of PML's products in the American market.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to import/export notifications; for instance, the Quantum Magnetics division's revenue is currently dependent on the official notification of relaxed import restrictions.

Taxation Policy Impact

Not specifically disclosed beyond standard corporate tax compliance.

Legal Contingencies

The company's auditors and management have certified that there are no fraudulent or illegal transactions, and financial statements present a true and fair view.