Manufactures permanent magnets, specialised magnetic alloys, and electromagnetic relays, with three operating pillars. The Alloys division supplies magnetic alloys to oil & gas, aerospace and powder-metallurgy customers; a new furnace was installed in January 2026 and commercialised in Q4 FY26, running at 80-90% utilisation. The Relays business targets India's smart electricity-meter replacement programme, with a 5 million-unit annual capacity that is in customer-approval stage ahead of an H2 FY27 commercial ramp. Rare earth magnets are operated through subsidiary Quantum Magnetics, a 50-50 JV with Lorentic Pte, where Phase 2 (block cutting, machining, surface treatment) is under implementation for Q3-Q4 FY27 commissioning, with a stated long-term target of 5,000 tonnes of rare earth capacity by FY30-31. FY26 standalone revenue of ₹226.24 crore grew about 13% year-on-year, with the Alloys division driving an H2 recovery; FY27 revenue growth is guided at 20-30% with EBITDA margin at 15-18%. Materials are the largest cost at 54.1% of revenue, reflecting the input-heavy nature of magnet and alloy manufacturing. Six existing Mumbai plants are being consolidated into a single new Vasai facility. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Alloys, Relays, Rare earth magnets (Quantum Magnetics JV), Other magnet / existing products. Capital-intensive electrical equipment maker with multiple growth projects across alloys, relays and rare earth magnets
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 201 | 205 | 226 |
| EBITDA (ex other income) | 34 | 30 | 35 |
| margin % | 17.1 | 14.8 | 15.4 |
| Owners' profit | 0 | 0 | 15 |
| EPS, as reported (₹) | 23.48 | 18.30 | 17.52 |
| ROE % · ROCE % | 15.6 · 20.5 | 10.9 · 14.4 | 9.4 · 11.1 |
| Debt / equity (x) | 0.10 | 0.08 | 0.45 |
| Cash from operations | 24 | 38 | 18 |
| Capex | (22) | (28) | (21) |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 54 | 56 | 49 | 45 | 54 | 49 | 57 | 67 |
| Profit before tax | 7 | 9 | 3 | 2 | 9 | 4 | 5 | 5 |
| Net profit | 5 | 7 | 2 | 2 | 6 | 2 | 2 | 4 |
| EPS (₹) | 5.86 | 8.25 | 2.38 | 1.82 | 7.17 | 2.76 | 2.62 | 4.99 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WAAREE ENERGIES LIMITED | 75,508 | 19.8 | 5.03 | 12.2 | 25.9 | 29.0 | — | 20.3 |
| APAR INDUSTRIES LTD. | 70,293 | 59.5 | 13.03 | 36.9 | 18.1 | 21.9 | 29.1 | 12.0 |
| PREMIER ENERGIES LIMITED | 44,224 | 26.2 | 10.26 | 18.0 | 35.0 | 25.7 | — | 30.8 |
| EMMVEE PHOTOVOLTAIC PWR L | 23,872 | 17.9 | 6.46 | 13.3 | 29.3 | 31.2 | — | 36.3 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · Permanent Magnets shifts corporate office to Mira Road, Thane | general | low | — | — |
| 3 Sept 2026 · CFO Sukhmal Jain resigns, last working day Sep 30, 2026 | management changes | high | — | — |
| 27 Aug 2026 · Dematerialization of 5,000 promoter group shares after lock-in period ends | ownership changes | low | — | — |
| 27 Aug 2026 · CIN Changed After Object Clause Amendment | compliance | minimal | — | — |
| 18 Aug 2026 · Subsidiary Quantum Magnetics gets ECMS approval for Neodymium magnets | business updates | high | — | — |
| 6 Aug 2026 · Permanent Magnets Q1 FY27 revenue up 19%, net profit falls 14% YoY | compliance | low | — | — |
| 6 Aug 2026 · All 8 resolutions passed at 65th AGM; Rs 2.20 dividend declared | board shareholder meetings | low | — | — |
| 5 Aug 2026 · Permanent Magnets 65th AGM: Dividend of Rs 2.20/share, key resolutions passed | board shareholder meetings | low | — | — |
| 5 Aug 2026 · Permanent Magnets files newspaper ad of Q1 FY27 unaudited results | compliance | minimal | — | — |
| 4 Aug 2026 · PML Q1 FY27 Results: Revenue Up, PAT Down; Bombay HC Winding Up Case Stayed | results | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| MTAR TECHNOLOGIES LIMITED |
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| 120.2 |
| 11.4 |
| 12.4 |
| 28.9 |
| 25.8 |
| DIAMOND POWER INFRA LTD | 19,448 | 98.9 | — | 94.7 | (26.2) | 8.6 | — | 12.3 |
| AVALON TECHNOLOGIES LTD | 15,293 | 114.3 | 21.19 | 76.2 | 15.6 | 20.0 | — | 12.5 |
| GENUS POWER INFRASTRU LTD | 9,830 | 13.7 | 4.43 | 12.1 | 26.7 | 22.7 | 50.8 | 22.1 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 49.1 | 26.2 | 44 of 53 | 17% |
| P/B | 4.7 | 3.6 | 32 of 49 | 35% |
| ROCE | 9.3 | 12.3 | 34 of 56 | 40% |
| ROE | 9.4 | 11.5 | 31 of 53 | 42% |
| Debt / Equity | 0.5 | 0.2 | 33 of 53 | 39% |
| EBITDA margin | 18.1 | 12.6 | 21 of 51 | 60% |
| Revenue growth | 47.0 | 20.7 | 15 of 46 | 69% |
| Profit growth | 154.1 | 37.7 | 9 of 45 | 82% |
| Market cap | 741 | 641 | 26 of 56 | 55% |
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| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
