Permanent Magnets Limited Receives Government Approval Under Electronics Components Manufacturing Scheme for Relays

Permanent Magnets Limited has secured a significant regulatory approval that strengthens its position in the electronics manufacturing sector. The company announced through a regulatory filing that it has received approval under the Electronics Components Manufacturing Scheme (ECMS) from the Government of India for its electro-mechanicals segment, specifically focusing on relays manufacturing.

Government Scheme Approval Details

The approval was granted under the Electronics Components Manufacturing Scheme, a government initiative aimed at boosting domestic electronics manufacturing capabilities. The scheme approval covers the company's electro-mechanicals segment with a specific focus on relays production.

Parameter:	Details
Scheme:	Electronics Components Manufacturing Scheme (ECMS)
Approving Authority:	Government of India
Ministry:	Ministry of Electronics and Information Technology (MeitY)
Segment Covered:	Electro-mechanicals
Product Focus:	Relays
Announcement Date:	March 30, 2026

Strategic Significance

The company has characterized this approval as a significant development that aligns with its growth strategy. The ECMS approval is expected to enhance the company's domestic electronics manufacturing capabilities, particularly in the relays segment of the electro-mechanicals business.

Regulatory Compliance

Permanent Magnets Limited made this announcement in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company formally communicated this development to the Bombay Stock Exchange Limited through an official filing.

Government Support Acknowledgment

The company has acknowledged the support received from both the Government of India and the Ministry of Electronics and Information Technology (MeitY) in securing this approval. This recognition highlights the collaborative approach between the private sector and government initiatives in strengthening India's electronics manufacturing ecosystem.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-4.11%	-5.99%	-17.48%	-38.53%	-6.63%	+225.19%

Permanent magnets Limited has announced a credit rating upgrade from Acuité Ratings & Research Limited for its banking facilities. The company informed the Bombay Stock Exchange about this development on February 24, 2026, pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Credit Rating Enhancement Details

The rating agency has upgraded both long-term and short-term banking facilities of the company. The total outstanding quantum of banking facilities stands at ₹34.48 crore, distributed across different facility types.

Facilities	Amount (₹ Cr)	Revised Rating	Previous Rating
Long Term Bank Facilities	16.86	ACUITE BBB Stable (Upgraded)	ACUITE BBB-
Short Term Bank Facilities	17.62	ACUITE A3+ (Upgraded)	ACUITE A3
Total Outstanding Quantum	34.48	-	-

Banking Facility Breakdown

The company's banking facilities are distributed across multiple lenders including Central Bank of India and State Bank of India. The facilities encompass various types of credit arrangements to support the company's operational and financial requirements.

Lender	Facility Type	Scale	Amount (₹ Cr)	Rating Assigned
Central Bank of India	Cash Credit	Long-term	4.68	ACUITE BBB Stable
Central Bank of India	Letter of Credit	Short-term	11.40	ACUITE A3+
State Bank of India	Cash Credit	Long-term	3.82	ACUITE BBB Stable
State Bank of India	Letter of Credit	Short-term	4.00	ACUITE A3+
State Bank of India	Term Loan	Long-term	3.34	ACUITE BBB Stable
State Bank of India	Term Loan	Long-term	3.31	ACUITE BBB Stable
State Bank of India	Term Loan	Long-term	1.71	ACUITE BBB Stable
Not Applicable	Proposed Short Term Bank Facility	Short-term	2.22	ACUITE A3+

Rating Validity and Compliance

The rating letter issued on February 20, 2026, will expire on February 03, 2027. Acuité Ratings reserves the right to revise the ratings at any time based on new information or circumstances that may impact the rating. The company is required to furnish a 'No Default Statement' on the first working day of every month as per SEBI regulations and rating agreement terms.

Company Profile

Permanent Magnets Limited, established in 1960, operates from its registered office in Silvassa, Dadra and Nagar Haveli. The company holds multiple certifications including IATF 16949:2016, ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018, demonstrating its commitment to quality management systems and environmental standards.