Permanent Magnets Limited announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, demonstrating strong operational performance and strategic progress. The company filed these results under Regulation 30 with BSE on February 12, 2026.

Consolidated Q3FY26 Performance

The company delivered robust consolidated results for Q3FY26, with revenue from operations reaching ₹57.02 crore, marking a 16% year-on-year growth from ₹49.35 crore in Q3FY25. This growth was driven by scale-up in the Alloys division, recovery in exports after a muted Q2, and improved demand from electricity meter customers.

Nine-Month Consolidated Results

For the nine-month period ended December 31, 2025, the company maintained steady performance with revenue from operations of ₹159.70 crore compared to ₹159.77 crore in the corresponding period of the previous year. The EBITDA margin improved to 17% from 16% in the previous year, reflecting operational efficiency gains.

Strategic Operational Developments

Managing Director Sharad Taparia highlighted significant operational milestones, including the successful installation of a new furnace for the Alloys business in January 2026. The furnace is currently operating in pilot stage through February, with commercial dispatches expected to commence within the current month. This expansion supports the company's growth strategy in the alloys segment.

The Relay facility remains on track for commissioning in Q4FY26, with commercial sales anticipated in the next financial year. Customer engagements are actively progressing across multiple sectors for steady commercial ramp-up.

Joint Venture Progress and Policy Impact

In the joint venture Quantum Magnetics, the initial Phase 1 CAPEX for the rare earth magnet block cutting facility is expected to be commissioned in early Q2FY27, with commercial sales projected to commence in Q3FY27. The company is awaiting the detailed policy framework for the Production Linked Incentive (PLI) scheme for Sintered Rare Earth Permanent Magnets, announced by the Cabinet in November 2025.

Financial Impact of Regulatory Changes

The company's net profit for Q3FY26 and nine-month period was impacted by one-time provisions related to the implementation of new labour codes. These provisions affected both standalone and consolidated results, reflecting increased employee benefits obligations arising from the consolidation of 29 existing labour laws into four new Labour Codes notified by the Government of India.

Margin Improvement and Outlook

The rebound in exports and higher revenue mix from alloys resulted in improved EBITDA margins for the quarter, reaching 18% compared to 13% in Q3FY25. The company's focus for the coming year remains on scaling up commercial operations across key growth pillars including Alloys, Relays, and the Quantum Magnetics joint venture, which are expected to drive growth in the upcoming financial year.

Permanent magnets Limited has successfully completed a share transfer process to a promoter group member, confirming that no objections were received from the public during the prescribed review period. The company communicated this development to the Bombay Stock Exchange on February 10, 2026.

Share Transfer Details

The share transfer involves Mrs. Kamala Anil Taparia, Partner of Shree Orient Corporation, who is part of the company's promoter group. The process was initiated following SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/97 dated July 02, 2025, which pertains to the re-lodgement of physical share transfer requests.

Regulatory Compliance Process

The company had previously published advertisements in newspapers on December 17, 2025, inviting objections from the public as required under the applicable SEBI circular. This public notice period is a mandatory step in the share transfer process to ensure transparency and allow stakeholders to raise any concerns.

Following the completion of the one-month prescribed period, Permanent Magnets Limited confirmed that no objections were received from any party. This clearance allowed the process to proceed to its final stage.

Transfer Completion and Lock-in Period

With no objections received, the company's Registrar and Share Transfer Agent (RTA) has issued the Letter of Confirmation in favour of Mrs. Kamala Anil Taparia. This document formally completes the share transfer process.

As per SEBI guidelines, the transferred shares will remain under a lock-in period of six months from the date of issuance of the Letter of Confirmation. This restriction prevents the immediate trading of these shares and ensures compliance with regulatory requirements for promoter group transactions.

Company Communication

The notification was signed by Rachana Sawant, Company Secretary of Permanent Magnets Limited, and submitted to the Corporate Relation Department of the Bombay Stock Exchange. The company has committed to keeping the exchange updated on any further developments related to this matter.

Permanent Magnets Limited, established in 1960, operates under the CIN L27100DN1960PLC000371 and maintains its registered office in Silvassa, Dadra and Nagar Haveli. The company holds multiple quality and management system certifications including IATF 16949:2016, ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018.