What we do Permanent Magnets Ltd manufactures cast alloy permanent magnets, electrical and electric vehicle parts, serving automobile, energy metering, renewable energy, aerospace, and other industries. |
Founded in 1,960 |
Market share Leading global manufacturer in cast alloy permanent magnets with diversified client base and strong presence in smart meters and EV segments. |
Problem solved Solves demand for reliable, custom electrical components and assemblies for automotive, energy metering, and renewable sectors, enhancing efficiency and innovation. |
Top clients or who we serve B2B clients including automobile manufacturers, energy meter producers, renewable energy firms, aerospace, defense, and food & beverage industries. |
Key management Sharad Taparia (Managing Director, BE, MBA Finance), Mukul Taparia (Director, Computer Science and Business Engineering background), Kamal Binani (Independent Director, CA), Girish Desai (Non-Executive Director) |
Our journey and innovations Founded in 1960; expanded technologies in metallurgy, die-casting, alloys, and magnetic sensing; entered smart meter and EV markets with continuous R&D and strategic partnerships. |
Where we operate Primarily operates in India with exports to Americas, Europe, and Asia; growing domestic presence in smart meters and EV sectors. |
Top products or what we offer Products include magnetic sensing components, current sensing modules, magnetic assemblies, alloys, and ZAMAK die-casting parts for various industries. |
Top brands No specific flagship brand names disclosed; known for expertise in permanent magnets, shunt current sensors, magnetic lifters, and alloy ingots. |
Raw materials needed Permanent magnet alloys, copper, brass, zinc-aluminium alloys (ZAMAK), plastics, stainless steel, special copper and nickel alloys. |
Raw materials supplier Suppliers not explicitly mentioned; technical partnerships with firms like Centro Magneti Permanenti (Italy), Dowa Mining (Japan), Sumitomo (Japan). |
Recurring vs cyclical contribution Revenue shows modest growth with some cyclical elements due to EV and smart meter market fluctuations. |
Our industry position Strong positioning as a technology-driven manufacturer with capabilities in metallurgy and assembly; certified quality standards (IATF, AS 9100). |
Financial highlights FY25 consolidated revenue ₹205.05 crore; profit after tax ₹15.75 crore; EBITDA margin around 15%; moderate revenue growth of 2% year-on-year. |
Geographical revenue split Revenue is diversified across Asia (majority), Americas, and Europe with increasing domestic contributions in India. |
Order book - |
Whats driving growth Growth driven by expanding smart meter product portfolio, new relay manufacturing, aerospace alloys certification, and EV market penetration efforts. |
Our future plans Capacity expansion in alloys, launch of relay manufacturing, and scaling quantum magnetics subsidiary; focus on domestic production for rare-earth magnets. |
Our green promise - |
Our people and values Dedicated workforce of over 600 employees including 79 engineers; commitment to quality, innovation, and ethical governance. |
Key challenges ahead Challenges include EV market slowdown, product-mix shifts impacting margins, competition from global suppliers, and supply chain dependencies. |
Interesting facts Established technical collaborations since 1973, including advances in permanent magnet production technologies and aerospace certifications. |
Risks and strategy Risks from market fluctuations and raw material supply mitigated by diversification of portfolio, domestic manufacturing focus, and strategic partnerships. |
