Permanent Magnets Limited Receives Credit Rating Upgrade from Acuité Ratings

2 min read Updated on 25 Feb 2026, 09:06 AM

Reviewed by

Jubin VScanX News Team

Overview

Permanent Magnets Limited received a credit rating upgrade from Acuité Ratings & Research Limited for banking facilities worth ₹34.48 crore. Long-term facilities of ₹16.86 crore were upgraded to ACUITE BBB Stable from ACUITE BBB-, while short-term facilities of ₹17.62 crore were upgraded to ACUITE A3+ from ACUITE A3. The facilities are distributed across Central Bank of India and State Bank of India.

*this image is generated using AI for illustrative purposes only.

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.

Historical Stock Returns for Permanent Magnets

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-1.04%	-0.72%	+5.28%	-20.10%	+7.99%	+422.65%

Permanent Magnets

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Permanent Magnets Limited Announces Gift of 600 Equity Shares to Promoter Group Member

1 min read Updated on 24 Feb 2026, 03:15 PM

Reviewed by

Radhika SScanX News Team

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Overview

Permanent Magnets Limited has informed BSE about the gift of 600 equity shares from Managing Director Mr. Sharad Taparia to Mrs. Shreya Rishi Taparia on February 20, 2026. Mrs. Shreya Rishi Taparia, who is an immediate relative of promoter group member Mr. Rishi Taparia, will be classified under the Promoter Group category as per SEBI regulations. The company filed this intimation under Regulation 31A(6) to ensure compliance with disclosure requirements.

*this image is generated using AI for illustrative purposes only.

Permanent magnets Limited has notified BSE Limited about a share gift transaction involving its promoter group members. The company filed the intimation under Regulation 31A(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 on February 24, 2026.

Share Gift Transaction Details

The transaction involves the gift of equity shares from the company's Managing Director to a promoter group member. The details of this share transfer are presented below:

Parameter:	Details
Gifted Shares:	600 equity shares
Donor:	Mr. Sharad Taparia (Managing Director and Promoter)
Recipient:	Mrs. Shreya Rishi Taparia
Transaction Date:	February 20, 2026
Method:	Gift Deed

Regulatory Compliance and Classification

Mrs. Shreya Rishi Taparia is identified as an immediate relative of Mr. Rishi Taparia, who forms part of the company's Promoter Group. This family relationship is significant for regulatory classification purposes.

Under Regulation 31A(6)(a) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specific requirements apply when shares are received by way of gift from a promoter. The regulation mandates that upon receipt of shares through such gifts, the recipient must be classified under the Promoter & Promoter Group category.

Impact on Shareholding Pattern

Following this transaction, Mrs. Shreya Rishi Taparia will be reflected under the Promoter Group category in the company's shareholding pattern. This classification change ensures compliance with SEBI's disclosure requirements and maintains transparency in the company's ownership structure.

The company has formally communicated this information to BSE Limited for record-keeping purposes, fulfilling its obligation to disclose material changes in promoter group holdings. Company Secretary Rachana Sawant signed the intimation letter on behalf of Permanent Magnets Limited.

Historical Stock Returns for Permanent Magnets