Permanent Magnets Ltd

Approval details

• QMPL, a wholly owned subsidiary, received ECMS approval to manufacture Neodymium Magnets (NdFeB).
• Approval supports domestic Rare Earth magnet ecosystem and aligns with company strategic objectives.

Meeting Details

• Board meeting scheduled for August 04, 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve unaudited standalone and consolidated financial results for quarter ended June 30, 2026.
• Include Limited Review Report thereon.

Other Notes

• Trading Window closed until 48 hours after Board Meeting, up to August 6, 2026; reopens August 7, 2026.

AGM and Annual Report access

• 65th AGM on 5 August 2026 at 2:30 PM IST via video conferencing/other AV means.
• Annual Report for FY2025-26 available on the company site; direct PDF link provided.
• Cut-off date for voting entitlement: 28 July 2026.
• Members urged to register/update emails and dematerialize holdings per SEBI guidelines.
• Letters to members without registered emails dispatched; copy enclosed.

Financial performance

• Standalone revenue from operations rose 13% to 225.46 Cr in FY26.
• Standalone EBITDA margin rose to 17% from 14%.
• Standalone PAT grew 36% to 20.69 Cr; one-time labour code provision noted.
• Consolidated total income at 232.30 Cr; PAT at 15.07 Cr; consolidated EPS 17.52.
• Standalone EPS rose to 24.06 per share year-on-year.
• ROCE stood at 16%; ROE at 13.31% for FY26.
• Equity: 165 Cr; debt-to-equity 0.23; working capital days 132.
• Cash flows: operating 31.40 Cr; investing -27.75 Cr; financing 2.91 Cr; closing cash 11.79 Cr.

Growth drivers & operations

• Alloys: new furnace installed Jan FY26; commercial production in Q4 FY26; AS9100D cert; scale-up in FY27.
• Relays: ramp-up delayed; commercial production expected H2 FY27; REL Developments license expands metering market ~5x value.
• Quantum Magnetics: Phase 2 capabilities planned; India localisation; integrated capacity target 5,000 tonnes by FY31.
• Energy metering: domestic demand recovered; CT and latching-relay opportunities expanding.
• Smart-meter rollout: 224M smart meters sanctioned, 151M awarded, 65M installed; target 250M by 2028; USD 30B capex.
• Land acquired for consolidating manufacturing; focus on Alloys, Relays, Quantum Magnetics in FY27.

Capital structure & liquidity

• Standalone long-term borrowings 19.03 Cr; current borrowings 3.47 Cr; total borrowings ~22.50 Cr; secured by MD relatives’ guarantees.
• Consolidated borrowings: long-term 66.84 Cr; current 3.47 Cr; total ~70.31 Cr; secured by mortgages/guarantees.
• Debt-to-equity: standalone 0.23; consolidated 0.56.
• Borrowing limits proposed: up to 300 Cr; mortgage/charge on assets to secure borrowings.
• Equity capital unchanged at 8.60 Cr; authorized capital 26 Cr.
• Final dividend proposal: 2.20 per share; record date 28 Jul 2026; payout within 30 days post AGM.

Dividend & capital allocation

• Final dividend of 2.20 per equity share; 22% on face value; subject to AGM approval.
• Dividend is taxable to shareholders; TDS deduction applies under Finance Act 2020.
• CSR spend for FY26 amounted to 0.61 Cr; two percent of average net profit as obligation.
• Unclaimed dividends subject to IEPF transfer after seven years; records updated for dividend payments.

Governance & risk

• Board of six; Independent Directors include Nirmal Jain and Kamal Binani; Sunaina Taparia is a non-exec director.
• Five board meetings held; one independent directors’ meeting (Feb 9, 2026).
• Audit Committee and other boards operate per SEBI LODR; internal controls robust with no material weakness.
• Related party transactions disclosed; all arm’s length; policy available on pmlindia.com.
• Winding-up case from 2015: interim stay; 0.19 Cr deposited; next hearing listed.
• CEO/CFO certification affirming completeness and control environment; compliance with Code of Conduct.

Audit & controls

• Independent Auditor’s Report (standalone): no qualifications; going-concern noted due to winding-up matter.
• Internal Financial Controls: adequate and operating effectively; new internal auditor appointed for FY27.
• Secretarial audit: Dash Dwivedi & Associates LLP; reports annexed; no material misstatements noted.
• CARO 2020 statements confirm adherence to applicable statutory requirements.

CSR & ESG

• CSR expenditure: 0.61 Cr; projects include education, healthcare, rural development, and shelters.
• CSR Committee: Nirmal Jain (Chairman), Sharad Taparia, Mukul Taparia; one meeting held in FY26.
• CSR policy published on company website; impact assessments and annual CSR report filed as Annexure E.

Strategic outlook & roadmap

• FY27 focus on scaling Alloys, Relays, and Quantum Magnetics; improved order visibility expected.
• Quantum Magnetics roadmap: localising NdFeB magnets in India with phased investments.
• Goal to reach 5,000 tonnes integrated magnet capacity by FY31; diversified applications across auto, wind, and electronics.
• Continued capex for capacity expansion; consolidation of manufacturing to improve efficiency.

AGM Details

• 65th AGM scheduled for 5 August 2026 at 2:30 PM IST via Video Conferencing/OAVM.
• Notice uploaded on company website in AGM Notices section.

Key dates and actions

• AGM date/time: Aug 5, 2026 at 2:30 PM via VC/OAVM.
• Book closure: July 29, 2026 to August 5, 2026 (inclusive).
• Record date for dividend entitlement and voting: July 28, 2026.
• E-voting window: Aug 1, 2026 10:00 AM to Aug 4, 2026 5:00 PM.
• Dividend, if approved, will be paid within the prescribed time after AGM.
• Security: equity shares.

Dematerialisation processing and listing status

• Dematerialisation requests processed; securities confirmed to depositories as accepted/rejected.
• Securities dematerialised have been listed on the stock exchanges where the earlier securities are listed.
• Depository name substituted as registered owner within 15 days; physical certificates mutilated and cancelled after verification.