Press Release on Unaudited (Standalone and Consolidated) Financial Result for the Quarter and Half year ended September 30, 2025
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Permanent Magnets Limited reported weak Q2FY26 results on a consolidated basis. Revenue from operations fell 12% year-on-year to ₹49.13 crore (vs ₹56.10 crore in Q2FY25), while EBITDA plunged 44% to ₹6.01 crore with margins shrinking sharply to 12% from 19% (-682 basis points). Profit after tax dropped 67% to ₹2.37 crore, and EPS fell to ₹2.76 from ₹8.25. For H1FY26, revenue declined 7% to ₹102.68 crore and PAT fell 30% to ₹8.53 crore. Management attributed the weakness to lower exports to the US following tariff-related disruptions and softer demand in the domestic smart energy meter business, partially offset by stronger alloy segment volumes.
The steep YoY decline in profits and margins is likely negative for the stock in the near term, though management noted US offtake is improving and highlighted upcoming catalysts — a new alloy furnace installation in December, relay facility commissioning in Q4, and initial capex underway at the Quantum Magnetics joint venture — which could support a recovery in the coming quarters.