Pursuant to Regulation 34(1)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the Annual Report of the Company for the financial year 2024 - 25.
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Permanent Magnets Limited submitted its Annual Report for FY 2024-25 to BSE. The company reported a marginal 2% revenue growth to ₹209 Crores, with EBITDA margin compressing to 15% from 17% in FY24. Profit After Tax declined 22% year-on-year, impacted by slower growth in EV and domestic smart meter verticals, higher depreciation from capacity investments, and increased developmental expenses. The company highlighted strategic initiatives including entry into latching relays (5x higher value than existing components), a new furnace for alloys business, and its subsidiary Quantum Magnetics' plans for rare earth magnet manufacturing. ROCE stood at 16% (down from 21%) and the company remains virtually debt-free with a debt-to-equity ratio of 0.08.
Despite stable top-line growth, shrinking margins and falling profits signal near-term pressure on profitability. However, the company's strong balance sheet and new product expansion (relays, alloys, rare earth magnets) lay the groundwork for a potential growth rebound in FY26 and beyond, making this a consolidation year rather than a structural concern.