About Permanent Magnets Limited

Permanent Magnets Limited (PML), established in 1960, is a leading manufacturer of advanced electrical components, magnets, and assemblies. With more than six decades of experience, the company has developed core technological expertise in magnetic sensing, current sensing, magnetic assemblies, special alloys, and ZAMAK die-casting. Its products cater to diverse industries including automotive, energy metering, renewable energy, aerospace, defence, and food and beverage.

PML has established itself as a trusted partner to global leaders, often being among the very few or even the sole supplier for specialized components. The company supplies to nearly 50% of the world’s tier-1 automotive manufacturers, serving both conventional internal combustion engine (ICE) vehicles and electric vehicles (EVs). In the energy sector, PML is a reliable supplier to the top three global electricity meter manufacturers.

The company leverages advanced design, simulation, and prototyping capabilities, backed by deep expertise in metallurgy, mechanical and electrical engineering, and electronics. Its subsidiary, Quantum Magnetics, focuses on the rare-earth magnets value chain, with emphasis on neodymium magnets. PML has also forged long-standing global collaborations, including with Centro Magneti Permanenti (Italy), Dowa Mining (Japan), and Sumitomo (Japan), enabling technology upgrades and new product innovations.

Permanent Magnets Limited’s Business Segments

PML operates across five principal product categories:

• Magnetic Sensing

• Current Sensing

• Magnetic Assemblies

• Special Alloys

• Multislide ZAMAK Die-Casting

Revenue is predominantly generated from domestic operations, with exports contributing through its automotive and metering customer base worldwide.

Permanent Magnets Limited’s Key Management

The key management team includes:

• Mr. Sharad Taparia, Managing Director

• Mr. Nirmal Kumar Jain, Independent Director & Chairman

• Ms. Rachana Sawant, Company Secretary

Latest Updates on Permanent Magnets Limited

• Financial Performance: Reported total income of Rs 209.21 crore in FY25, up 2% year-on-year. EBITDA stood at Rs 30.44 crore, while PAT declined to Rs 15.75 crore compared to Rs 20.20 crore in FY24.

• Electric Vehicles Business: Strengthened presence in India by deepening engagement with tier-1 suppliers to leading EV OEMs. Facing global competition from Chinese EV manufacturers, the company diversified its customer base.

• Smart Meters: Expanded portfolio with Latching Relays through a licensing agreement with REL Developments Limited, UK, and initiated capex to commence relay manufacturing in H2FY26.

• Alloys Segment: Achieved AS 9100D:2016 certification for its alloys facility, unlocking opportunities in aerospace, aviation, and defence. Capacity expansion with a new furnace is underway for December 2025 commissioning.

• Subsidiary Focus: Quantum Magnetics’ commercial scale-up slowed due to global supply challenges for rare-earth magnets, reinforcing the importance of a domestic supply chain.

• Certifications: Holds ISO 9001:2015, ISO 14001:2015, OHSMS 45001:2018, IATF 16949:2016, and AS 9100D:2016 certifications, ensuring quality and global compliance.