Permanent Magnets Ltd. — Interim / Quarterly Report 2021

May 28, 2021

PERMANENT MAGNETS LIMITED

B-3, MIDC, Village Mira, Mira Road East, Thane - 401104, Maharashtra, India

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Phone : +91-22-68285454 Facsimile : +91-22-29452128 Email : sales@pmlindia.com Website : www.pmlindia.com

Date : 28[th] May, 2021

To,

Corporate Relation Department The Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

Security Code : 504132 Security ID : PERMAGN

Sub: Audited Standalone Financial Results for the quarter and year ended March 31, 2021

Dear Sir/Madam,

Pursuant to Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, we are enclosing herewith the following:

1. Audited Standalone financial results of the company for the quarter and year ended March 31, 2021.

2. Statutory Auditor’s Report of M/s. Ramanand & Associates, Chartered Accountant on the Standalone Financial Results for the quarter and year ended March 31, 2021.

3. Declaration as required under Regulation 33 (3) (d) of the SEBI (Listing Obligations & Disclosure Requirements) (Amendment) Regulations, 2016 and SEBI circular no. CIR/CFD/CMD/56/2016 dated May 27, 2016.

Kindly take the same on record.

Thanking you,

Yours Faithfully,

FOR PERMANENT MAGNETS LIMITED

RACHANA RANE COMPANY SECRETARY

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RegdOffice: Harsh Avenue, 302, 3[rd] Floor, opp. Silvassa Police Station, SilvassaVapi Main Road, Silvassa- 396 230. Dadra and Nagar Haveli (U.T.) (All correspondence has to be made at our Mira Road address only) CIN-L27100DN1960PLC000371

Permanent Magnets Limited

Regd Office : Harsh Avenue, 302, 3rd Floor, Opp. Silvasa Police Station, Silvassa - 396230, D & NH (UT) CIN - L27100DN1960PLC000371, Email: investors@pmlindia.com, Phone : +91 22 68285454 Website: www.pmlindia.com Statement of audited Financial Results for the Quarter and year ended 31st March, 2021

Sr. Particulars 1 (a) Gross Sales/Income from Operations (b) Other Income Total Income 2 Expenditure (a) Consumption of Raw Material (b) Purchase of stock-in-trade (c) Changes in inventories of Finished Goods, work-in- progress and stock-in-trade (d) Employee cost (e) Finance Cost (f) Depreciation & Amortisation Expenses (g) Other Expenditure Total Expenditures 3 Profit / (Loss) from Operations before Exceptional and Tax (1-2) 4 Exceptional Items 5 Profit before tax (3+4) 6 Tax expenses Current Tax Deferred Tax 7 Profit/(Loss) for the period from Continuing Operations ( after tax ) (5-6) 8 Profit/(Loss) from Discontinuing Operation 9 Tax Expenses of Discontinuing Operation 10 Profit/(Loss) from Discontinuing Operations ( after tax ) (8-9) 11 Profit/(Loss) for the period (7+10) 12 Other Comprehensive Income (OCI) 13 Net Profit/(Loss) ( Including Comprehensive Income )( 11+12) 14 Paid-up Equity Share Capital (Face Value of Rs. 10/- each) Total Reserves ( excluding revaluation reserve) 15 (i) Earning Per Share (before and after Extra Ordinary Items) - Basic - Diluted

(Rs. In lakh) 31.03.2021 (Audited) 31.12.2020 (Unaudited) 31.03.2020 (Audited) 31.03.2021 (Audited) 31.03.2020 (Audited) 3,721.62 3,211.46 2,299.17 11,667.93 10,656.05 43.52 16.73 132.25 88.58 270.24 3,765.15 3,228.19 2,431.42 11,756.51 10,926.29 1,686.92 1,522.50 1,101.98 5,387.94 5,166.77 - - - - - 107.35 (11.28) (52.03) 208.11 (104.85) 174.56 206.23 174.27 744.64 762.82 48.77 21.03 81.33 102.10 132.88 87.06 96.25 175.32 329.29 298.71 867.76 767.51 457.06 2,802.35 2,776.50 2,972.42 2,602.24 1,937.94 9,574.43 9,032.83 792.73 625.95 493.48 2,182.09 1,893.46 792.73 625.95 493.48 2,182.09 1,893.46 150.63 170.48 99.77 568.30 461.49 198.35 161.85 128.55 574.75 485.31 (47.72) 8.62 (28.77) (6.46) (23.81) 642.10 455.47 393.72 1,613.79 1,431.97 ---- - ---- - - - - - - 642.10 455.47 393.72 1,613.79 1,431.97 1.59 - (3.51) 1.59 (3.51) 643.68 455.47 390.21 1,615.38 1,428.46 859.85 859.85 859.85 859.85 859.85 7.49 5.30 4.54 18.79 16.61 7.49 5.30 4.54 18.79 16.61 Year Ended Quarter Ended on

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STATEMENT OF ASSETS AND LIABILITIES
As at As at
Particulars
31.03.2021 31.03.2020
ASSET
(1) Non Current Assets
(a) Property, Plant and Equipment 512.80 503.03
(b) Capital Work-in-progress
(c) Investment Property
(d) Goodwill
(b) Other Intangible assets 20.31 10.40
(c) Right-of-use Assets 273.21 416.22
-
(d) Financial Assets
(i) Loans 77.64 66.28
(e) Deferred Tax Assets (Net) 156.59 150.13
(f) Other Non-Current Assets 95.78 57.03
1,136.33 1,203.08
(2) Current Assets
(a) Inventories 2,100.54 1,924.77
(b) Financial Assets
(i) Trade Receivables 3,286.97 2,729.69
(ii) Cash and Cash Equivalents 343.17 198.23
(iii) Bank Balances 1,934.36 615.75
(iv) Loans 79.31 56.78
(c) Other Current Assets 518.52 582.64
8,262.86 6,107.86
Total Assets 9,399.19 7,310.94
EQUITY AND LIABILITIES
(1) Equity
(a) Equity Share Capital 859.85 859.85
(b) Other Equity 5,542.85 3,927.47
6,402.70 4,787.32
Liabilities
(2) Non Current Liabilities
(a) Financial Liabilities
(i) Borrowings 180.75 185.24
(ii) Other Financial Liabilities 187.40 304.02
(b) Provisions 76.24 83.94
444.40 573.20
(3) Current Liabilities
(a) Financial Liabilities
(i) Borrowings - 10.74
(ii) Trade Payables (Current) 2,215.34 1,498.31
(iii) Other Financial Liabilities 236.41 317.85
(b) Other Current Liabilities 46.43 84.82
(c) Provisions 4.04 1.78
(d) Current Tax Liabilities 49.87 36.94
2,552.09 1,950.42
Total Equity and Liabilities 9,399.19 7,310.94
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STATEMENT OF CASHFLOW
Particulars 31.03.2021 31.03.2020
INR INR
CASH FLOW FROM OPERATING ACTIVITIES
Profit before tax and extraordinary items (PAT) 2,183.67 1,889.95
Adjustment for :
Depreciation & Amortization
Depreciation for PPE 186.28 154.99
Depreciation for Leased assets 143.01 143.72
Impairement - 2.55
Loss/(Profit) on Sale of Assets (0.45) (1.38)
Finance Charges 45.61 69.71
Financial Charges under lease agreement 56.49 63.17
-
Interest income on security deposit (11.37)
Misc balance w/off (0.35) 1.60
Lease liability on transition of lease as per IND AS 116 (Profit/(loss) on - 13.49
lease modification & Others)
Short /Excess provision of earlier years (13.69) (0.52)
Unrealised Foreign Exchange Gain (7.64) (103.38)
Operating Profit before working Capital Changes 2,581.58 2,233.92
Adjustment for:
Inventories (175.76) (170.02)
Trade Receivables (543.29) 553.59
Other Assets (1,315.77) (887.84)
Trade Payables 716.86 (462.17)
Other Liabilities (59.76) 367.04
1,203.85 1,634.51
Direct Taxes Paid 511.19 484.79
Net cash flow from Operating Activities 692.66 1,149.72
CASH FLOW FROM INVESTMENT ACTIVITIES
Sale of/ (Additions to) Fixed Assets (205.51) (153.99)
Sale of/ (Additions to) investments (net)
Net cash used in investing activities (205.51) (153.99)
CASH FLOW FROM FINANCING ACTIVITIES
Proceeds from Long Term Borrowings (Net) (4.49) (38.89)
Proceeds from Short Term Borrowings (Net) (16.56) (572.81)
Finance Charges paid (Net) (45.61) (132.88)
Payment of Lease liabilities (275.54) (133.50)
Net cash from Financing Activities (342.20) (878.08)
NET INCREASE IN CASH AND CASH EQUIVALENTS 144.94 117.65
Opening Cash and Cash Equivalents 198.23 80.58
Closing Cash and Cash Equivalents 343.17 198.23
Notes :
1. The above statement has been prepared in indirect method as described in Ind AS -7 issued by ICAI.
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Notes:

• 1 The above results for the quarter and year ended 31 March, 2021, have been reviewed and recommended by the Audit Committee, approved by the Board of Directors at their Meeting held on 28/05/2021. The Statutory Auditors have expressed an unqualified audit opinion.

• 2 This statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rule ,2015 (Ind AS) prescribed under Section 133 of Companies Act ,2013, read with rule 3 of the Companies (Indian Accounting Standards) Rules,2015 and Companies (Indian Accounting Standards) Rule ,2016.

• 3 As the Company operates mainly in one Business Segment i.e Engineering and Current Sensing applications hence are considered to be a single primary business segment, therefore the disclosure requirement of IND AS 108, Operating Segment is not applicable.

• 4 The figures for the current quarter ended March 31, 2021 and quater ended March 31,2020 are the balancing figures between audited figures in respect of full financial year ended March 31, 2021 and March 31,2020 respectively and published year to date figures upto to third quarter ended December 31,2020 and December 31,2019, respectively, which were subjected to Limited Review.

• 5 Honourable Bombay High Court has given interim stay order against the winding up order passed against the Company dated 15/04/2015. Next hearing in this matter shall come up as per listing of the court. Company has deposited Rs. 19,05,179/- Lac with interest as per direction of honourable Bombay High Court.

• 6 The Board of Directors recommend a final dividend of Re. 1/- per share (10%) on equity shares of Rs. 10/- each, for the financial year 2020-2021. Payment of final dividend is subject to approval of the shareholders.

• 7 COVID-19 pandemic had impacted the operations of the Company for the quarter ended June 30 , 2020, however, demand for the products continued and capacity utilization increased substantially during the quarter ended March 31 , 2021. The Company will continue to evaluate the pandemic related uncertainity on business and economic condition and update its assessment.

• 8 The figures for the previous period / year have been regrouped wherever necessary to confirm to the current year's classification.

For Permanent Magnets Limited Place : Thane Sharad Taparia Date: 28.05.2021 Managing Director

PERMANENT MAGNETS LIMITED

B-3, MIDC, Village Mira, Mira Road East, Thane - 401104, Maharashtra, India

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Phone : +91-22-68285454 Facsimile : +91-22-29452128 Email : sales@pmlindia.com Website : www.pmlindia.com

Declaration

Date : 28[th] May, 2021

To,

Corporate Relation Department The Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001

Sub: Declaration pursuant to Regulation 33(3) (d) of the SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2016 ["LODR"]

Dear Sir/Madam,

In compliance with Regulation 33(3) (d) of LODR as amended by the SEBI Circular No. CIR/CFD/CMD/56/2016 we hereby declare that, Statutory Auditors of the Company M/s. Ramanand & Associates, Chartered Accountants (FRN: 117776W) have issued an Audit Report with unmodified opinion on the Audited (Standalone) Financial Results of the Company for the year ended March 31, 2021.

You are requested to take the same on record & oblige.

Thanking you,

Yours Faithfully,

FOR PERMANENT MAGNETS LIMITED

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SUKHMAL JAIN CHIEF FINANCIAL OFFICER

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Regd Office: Harsh Avenue, 302, 3[rd] Floor, opp. Silvassa Police Station, Silvassa Vapi Main Road, Silvassa- 396 230. Dadra and Nagar Haveli (U.T.) (All correspondence has to be made at our Mira Road address only) CIN-L27100DN1960PLC000371