Permanent Magnets Limited , a leading player in the engineering and current sensing applications sector, has released its unaudited financial results for the second quarter and half-year ended September 30, 2025. The company's performance shows a mixed picture with some areas of growth and others facing challenges.

Revenue and Profitability

For Q2 FY2026, Permanent Magnets Limited reported standalone revenue from operations of Rs 48.74 crore, compared to Rs 53.16 crore in the previous quarter and Rs 50.60 crore in the same quarter last year. This represents a sequential decline of 8.30% and a year-on-year decrease of 3.70%.

The company's net profit for the quarter stood at Rs 3.73 crore, showing a significant decrease from the previous quarter's Rs 7.28 crore. However, it remained stable compared to the Rs 3.73 crore reported in the same quarter last year.

Half-Year Performance

For the half-year period ended September 30, 2025, Permanent Magnets Limited achieved:

• Consolidated revenue: Rs 102.68 crore
• Consolidated net profit: Rs 8.53 crore
• Standalone revenue: Rs 101.90 crore
• Standalone net profit: Rs 11.17 crore

Financial Position

As of September 30, 2025:

• Consolidated total assets: Rs 208.58 crore (up from Rs 194.16 crore at the end of the previous fiscal year)
• Total equity: Rs 150.85 crore (increased from Rs 144.04 crore)

Earnings Per Share

• Standalone Q2 EPS (basic and diluted): Rs 4.52
• Consolidated half-year EPS: Rs 9.92

Operational Highlights

• Cost of materials consumed (half-year, consolidated): Rs 54.80 crore
• Employee benefits expenses (half-year): Rs 7.49 crore (up from Rs 6.59 crore in the same period last year)
• Inventories: Rs 62.75 crore (increased from Rs 54.15 crore at the end of the previous fiscal year)

Management Commentary

Sharad Taparia, Managing Director of Permanent Magnets Limited, signed off on the financial results. The Board of Directors reviewed and approved the results, which have been subject to limited review by the statutory auditors.

Auditor's Review

Jayesh Sanghrajka & Co. LLP, the statutory auditors, conducted a limited review of the financial results. They reported that nothing has come to their attention that causes them to believe that the financial results do not present a true and fair view in accordance with applicable accounting standards and other recognized accounting practices and policies.

Legal Update

The auditors noted that the Honorable Bombay High Court has given an interim stay order against a winding-up order previously passed against the company. The next hearing is scheduled as per the court's listing.

Subsidiary Operations

Quantum Magnetics Private Limited, a wholly-owned subsidiary, entered into a Joint Venture Agreement with Lorentic Pte Limited and the Holding Company on August 28, 2025. As of September 30, 2025, the entity continues to be consolidated as a subsidiary since effective control is still retained by the Holding Company.

Investors and stakeholders can access detailed financial results on the company's website at www.pmlindia.com and on the BSE website at www.bseindia.com .

Permanent Magnets Limited continues to navigate through market challenges while maintaining its operational focus. The company's ability to sustain profitability despite revenue pressures demonstrates resilience, but the decline in quarterly performance suggests ongoing market headwinds that warrant close monitoring in the coming quarters.

Permanent Magnets Ltd recently held a board meeting to address several key matters, including financial results approval and changes in shareholding classification. The company made significant decisions that could impact its governance structure and shareholder composition.

Financial Results and Dividend Decision

The board of Permanent Magnets Ltd approved the audited financial results for both the quarter and the financial year ended March 31, 2020. In a notable decision, the board chose not to recommend any dividend for the financial year 2019-20. This move suggests a conservative approach to cash management, possibly in response to the financial landscape or the company's internal financial strategies.

Reclassification of Promoter Shareholdings

A major development from the board meeting was the approval to reclassify certain promoter shareholdings. The company has given the green light to reclassify three shareholders from the Promoter category to the Non-Promoter category. This reclassification affects a significant 9.99% of the company's shareholding. The shareholders involved in this reclassification are:

It's important to note that this reclassification is subject to approval from the company's members and clearance from the stock exchange. The move could potentially alter the company's shareholding structure and influence future decision-making processes.

New Board Appointment

In addition to these changes, the board acknowledged a new appointment to its ranks. Girish Desai has been appointed as a Non-Executive, Non-Independent Director. This appointment was previously approved through a circular resolution on June 1, 2020. The addition of Desai to the board may bring new perspectives to the company's governance and strategic direction.

These developments at Permanent Magnets Ltd signify important changes in the company's financial management, ownership structure, and board composition. Shareholders and market observers will likely be keen to see how these changes impact the company's performance and governance in the coming months.