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Permanent Magnets Limited has called its 64th AGM on August 7, 2025 at 2:30 PM via video conferencing. Shareholders will consider adopting the audited financial statements for FY ending March 31, 2025 and approve a dividend of ₹2 per share (20% on face value of ₹10). The notice seeks approval to revise Managing Director Sharad Taparia's remuneration to ₹15 lakh per month (in a scale of ₹15–25 lakh) effective April 1, 2025, and to re-appoint him as MD for another 5-year term from April 1, 2026 to March 31, 2031. The company also proposes increasing its authorised share capital from ₹10 crore to ₹20 crore of equity shares (taking total authorised capital to ₹26 crore including preference shares), and appointing Dash Dwivedi & Associates LLP as Secretarial Auditors for FY 2025-26 to FY 2029-30. FY 2024-25 revenue was ₹199.54 crore against ₹201.47 crore in the previous year.
Shareholders get a steady ₹2 dividend and continued leadership under Sharad Taparia, though his remuneration is being raised. The doubling of authorised equity capital signals room for a future fund raise or stock split, which could dilute holdings if new shares are issued. Re-appointment of the MD provides continuity, while the new secretarial auditor is a routine governance change.