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Permanent Magnets Ltd. — Interim / Quarterly Report 2025
Feb 14, 2025
61290_rns_2025-02-14_b67a3862-d809-4f47-a2c9-0cd3ba81e38a.pdf
Interim / Quarterly Report
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PERMANENT MAGNETS LIMITED
B-3, MIDC, Village Mira, Mira Road East, Thane - 401107, Maharashtra, India
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Phone : +91-22-68285454 Facsimile : +91-22-29452128 Email : [email protected] Website : www.pmlindia.com
Date: February 14, 2025
To, Corporate Relation Department The Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001
Scrip Code : 504132
Security ID : PERMAGN
Sub: Integrated Filing (Financial) for the Quarter and Nine months ended December 31, 2024
Meeting Commencement Time 3.15 PM Meeting Conclusion Time 4.20 PM
Dear Sir/Madam,
Pursuant to SEBI Circular no. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024, read with BSE Circular No. 20250102-4 and NSE Circular No. NSE/CML/2025/02 dated January 2, 2025, we are submitting herewith the Integrated Filing (Financial) for the Quarter and Nine months ended December 31, 2024.
The aforesaid information is also being made available on the website of the Company.
Thanking you,
Yours Faithfully,
FOR PERMANENT MAGNETS LIMITED
RACHANA Digitally signed by RACHANA PARESH PARESH SAWANT Date: 2025.02.14 SAWANT 16:42:44 +05'30' RACHANA SAWANT COMPANY SECRETARY
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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
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Permanent Magnets Limited
Regd Office : Harsh Avenue, 302, 3rd Floor, Opp. Silvasa Police Station, Silvassa - 396230, D & NH (UT)
CIN - L27100DN1960PLC000371, Email: [email protected], Phone : +91 22 68285454 Website: www.pmlindia.com
Statement of Unaudited Standalone & Consolidated Financial Results for the Quarter and Nine Months ended 31st December, 2024
(Rs. In Crores)
Standalone
Sr. No. Particulars Quarter Ended on Nine Month Ended Year Ended on
31.12.2024 31.12.2023 30.09.2024 31.12.2024 31.12.2023 31.03.2024 (Audited)
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited)
1 (a) Gross Sales/Income from Operations 49.34 50.53 50.60 154.26 147.88 201.47
(b) Other Income 1.18 1.04 1.48 4.01 2.59 4.40
Total Income 50.52 51.56 52.08 158.27 150.47 205.87
2 Expenditure
(a) Consumption of Raw Material 25.90 29.72 29.88 87.58 81.94 114.09
(b) Purchase of stock-in-trade - - - - - -
(c) Changes in inventories of Finished Goods, work-in- progress and stock- 0.24 0.25 (0.95) (1.18) (2.40) (2.66)
in-trade
(d) Employee cost 3.25 3.00 3.06 9.43 8.57 11.45
(e) Finance Cost 0.98 0.60 0.49 1.96 0.96 2.05
(f) Depreciation & Amortisation Expenses 2.68 1.69 2.02 6.47 4.94 6.87
(g) Other Expenditure 13.23 10.47 12.04 36.50 31.38 43.15
Total Expenditures 46.29 45.74 46.53 140.77 125.40 174.96
3 Profit from Operations before Exceptional and Tax (1-2) 4.23 5.83 5.56 17.50 25.07 30.91
4 Exceptional Items - - - - - -
5 Profit before tax (3+4) 4.23 5.83 5.56 17.50 25.07 30.91
6 Tax expenses 1.16 1.27 1.82 4.97 6.38 8.17
Current Tax 1.27 1.55 1.49 4.72 6.52 8.20
Deferred Tax (0.11) (0.28) 0.34 0.25 (0.13) (0.03)
7 Profit for the period from Continuing Operations ( after tax ) (5-6) 3.07 4.56 3.73 12.53 18.69 22.74
8 Profit/(Loss) from Discontinuing Operation - - - - - -
9 Tax Expenses of Discontinuing Operation - - - - - -
10 Profit/(Loss) from Discontinuing Operations ( after tax ) (8-9) - - - - - -
11 Profit for the period (7+10) 3.07 4.56 3.73 12.53 18.69 22.74
12 Other Comprehensive Income (OCI) - - - - - (0.01)
13 Net Profit ( Including Comprehensive Income )( 11+12) 3.07 4.56 3.73 12.53 18.69 22.73
14 Paid-up Equity Share Capital (Face Value of Rs. 10/- each) 8.60 8.60 8.60 8.60 8.60 8.60
Total Reserves ( excluding revaluation reserve)
15 (i) Earning Per Share (before and after Extra Ordinary Items)
- Basic 3.57 5.30 4.34 14.57 21.73 26.44
- Diluted 3.57 5.30 4.34 14.57 21.73 26.44
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(Rs. In Crores)
| Sr.No. | Particulars | Consolidated | Consolidated | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Quarter Ended on | Nine months ended | Year Ended on | |||||||||||||||
| 31.12.2024 | 31.12.2023 | 30.09.2024 | 31.12.2024 | 31.12.2023 | 31.03.2024 (Audited) | ||||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | |||||||||||||
| 1 | (a) Gross Sales/Income from Operations | 49.35 | 50.53 | 56.10 | 159.77 | 147.88 | 201.48 | ||||||||||
| (b) Other Income | 1.06 | 1.06 | 1.29 | 3.71 | 2.64 | 4.45 | |||||||||||
| Total Income | 50.41 | 51.59 | 57.39 | 163.48 | 150.51 | 205.93 | |||||||||||
| 2 | Expenditure | ||||||||||||||||
| (a) Consumption of Raw Material | 25.90 | 29.72 | 30.32 | 88.26 | 81.94 | 114.11 | |||||||||||
| (b) Purchase of stock-in-trade | - | - | - | - | - | - | |||||||||||
| (c) Changes in inventories of Finished Goods, work-in- progress and stock- | 0.20 | 0.25 | (0.67) | (1.51) | (2.40) | (2.67) | |||||||||||
| in-trade | |||||||||||||||||
| (d) Employee cost | 3.46 | 3.17 | 3.28 | 10.05 | 8.80 | 11.85 | |||||||||||
| (e) Finance Cost | 1.03 | 0.81 | 0.55 | 2.12 | 1.16 | 2.28 | |||||||||||
| (f) Depreciation & Amortisation Expenses | 3.17 | 1.94 | 2.50 | 7.90 | 5.19 | 8.26 | |||||||||||
| (g) Other Expenditure | 13.50 | 10.59 | 12.49 | 37.57 | 31.74 | 43.83 | |||||||||||
| Total Expenditures | 47.26 | 46.48 | 48.46 | 144.39 | 126.43 | 177.66 | |||||||||||
| 3 | Profit from Operations before Exceptional and Tax (1-2) | 3.15 | 5.11 | 8.93 | 19.09 | 24.08 | 28.27 | ||||||||||
| 4 | Exceptional Items | - | - | - | - | - | - | ||||||||||
| 5 | Profit before tax (3+4) | 3.15 | 5.11 | 8.93 | 19.09 | 24.08 | 28.27 | ||||||||||
| 6 | Tax expenses | 1.11 | 1.27 | 1.84 | 4.93 | 6.38 | 8.07 | ||||||||||
| Current Tax | 1.23 | 1.55 | 1.53 | 4.72 | 6.52 | 8.21 | |||||||||||
| Deferred Tax | (0.13) | (0.28) | 0.31 | 0.20 | (0.13) | (0.14) | |||||||||||
| 7 | Profit for the period from Continuing Operations ( after tax ) (5-6) | 2.04 | 3.84 | 7.10 | 14.16 | 17.70 | 20.20 | ||||||||||
| 8 | Profit/(Loss) from Discontinuing Operation | - | - | - | - | - | - | ||||||||||
| 9 | Tax Expenses of Discontinuing Operation | - | - | - | - | - | - | ||||||||||
| 10 | Profit/(Loss) from Discontinuing Operations ( after tax ) (8-9) | - | - | - | - | - | - | ||||||||||
| 11 | Profit for the period (7+10) | 2.04 | 3.84 | 7.10 | 14.16 | 17.70 | 20.20 | ||||||||||
| 12 | Other Comprehensive Income (OCI) | - | - | - | - | - | (0.01) | ||||||||||
| 13 | Net Profit ( Including Comprehensive Income )( 11+12) | 2.04 | 3.84 | 7.10 | 14.16 | 17.70 | 20.19 | ||||||||||
| 14 | Paid-up Equity Share Capital (Face Value of Rs. 10/- each) | 8.60 | 8.60 | 8.60 | 8.60 | 8.60 | 8.60 | ||||||||||
| Total Reserves ( excluding revaluation reserve) | |||||||||||||||||
| 15 | (i) Earning Per Share (before and after Extra Ordinary Items) | ||||||||||||||||
| - Basic | 2.38 | 4.47 | 8.25 | 16.47 | 20.58 | 23.48 | |||||||||||
| - Diluted | 2.38 | 4.47 | 8.25 | 16.47 | 20.58 | 23.48 | |||||||||||
| Notes: | |||||||||||||||||
| 1 | The above results for the quarter and nine months ended 31st December, 2024, have been reviewed and recommended by the Audit | Committee, approved by the Board of Directors at their Meeting held on | |||||||||||||||
| 14/02/2025 in Physical meeting. The Statutory Auditors have expressed an unqualified limited reviw 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 | Figures for the quarter ended 31st December 2024 are the balancing figures between unaudited figures in respect of the | nine months ended 31/12/2024 and the published year to date figures | upto the end of the half | ||||||||||||||
| year ended of the relevant financial year i.e. 30/09/2024. | |||||||||||||||||
| 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 results of the Company are available for investors at www.pmlindia.com, and www.bseindia.com. | ||||||||||||||||
| 7 | The figures for the previous period / year have been regrouped wherever necessary to confirm to | the current year's classification. | |||||||||||||||
| For Permannet | Magnets Limited | ||||||||||||||||
| Place : Thane | Sharad Taparia | ||||||||||||||||
| Date:14/02/2025 | Managing Director |
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Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Standalone Financial Results of M/s Permanent Magnets Limited, Pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)
To,
The Board of Directors of
Permanent Magnets Limited
-
We have reviewed the accompanying Statement of Unaudited Standalone Financial Results (“the Statement”) of Permanent Magnets Limited (“the Company”) for the quarter ended 31[st] December 2024 and year to date from 1[st] April 2024 to 31[st] December 2024, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time.
-
This Statement, which is the responsibility of the Company’s Management and is subject to approval by the Company’s Board of Directors at their meeting to be held on February 14, 2025. This statement has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 (“Ind As 34”) “Interim Financial Reporting”, prescribed under Section 133 of the Companies Act, 2013 (“the Act”), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulations 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time. Our responsibility is to express a conclusion on the Statement based on our review.
-
We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”, issued by the Institute of Chartered Accountants of India. This standard required that we plan and perform the review to obtain moderate assurance as to whether the statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with the Standards on Auditing and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
-
Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, the SEBI Circulars, and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended),
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including the manner in which it is to be disclosed, or that it contains any material misstatement.
- We draw attention to Note no. 5 of statement which states that Honorable Bombay High Court had given interim stay order against winding up order and hearing in this matter shall come up as per listing of the court.
Our report is not modified in respect of above matters.
For Jayesh Sanghrajka & Co. LLP
Chartered Accountants
ICAI Firm Regd. No. 104184W/W100075
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Hemant Kumar Agrawal Designated Partner M. No. 403143 UDIN – 25403143BMLIGQ3112
Place: Mumbai Date: 14[th] February, 2025
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Independent Auditor’s Review Report on the Quarterly and Year to Date Unaudited Consolidated Financial Results of Permanent Magnets Limited, Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)
To,
The Board of Directors of Permanent Magnets Limited
-
We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results (“the Statement”) of Permanent Magnets Limited (“the Holding Company”) and its subsidiary (the Holding Company and its subsidiary together referred to as “the Group"), for the quarter ended 31[st] December 2024 and year to date from 1[st] April 2024 to 31[st] December 2024, being submitted by the Holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015 (as amended) including relevant circulars issued by the SEBI from time to time.
-
This Statement, which is the responsibility of the Holding Company’s Management and approved by the Holding Company’s Board of Directors at their meeting to be held on February 14, 2025. This statement has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 ("Ind AS 34") “Interim Financial Reporting”, prescribed under Section 133 of the Companies Act, 2013 (“the Act”), and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of Regulations 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), including relevant circulars issued by the SEBI from time to time. Our responsibility is to express a conclusion on the Statement based on our review.
-
We conducted our review of the Consolidated Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the statement is free of material misstatement. A review of Interim Financial Information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently, does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
-
We also performed procedures in accordance with the SEBI Circular CIR/CFD/CMD1/44/2019 dated March 29, 2019 issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), to the extent applicable.
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- Apart from the parent company, the consolidated unaudited financial results include the following subsidiary:
| Name of Entity | Relationship |
|---|---|
| Quantum Magnetics Private Limited | Wholly Owned Subsidiary |
-
Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with recognition and measurement principles laid down in Ind AS 34, prescribed under Section 133 of the Act, as amended, read with relevant rules issued there under and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 {as amended), including the manner in which it is to be disclosed, or that it contains any material misstatement.
-
We draw attention to Note no. 5 of statement which states that Honorable Bombay High Court had given interim stay order against winding up order and hearing in this matter shall come up as per listing of the court.
Our report is not modified in respect of above matters.
For Jayesh Sanghrajka & Co. LLP , Chartered Accountants ICAI Firm Regd. No: 104184W/W100075 Hemant Kumar Agrawal Designated Partner Membership No. 403143 UDIN: 25403143BMLIGP2649 Place: Mumbai Date: 14[th] February, 2025
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PERMANENT MAGNETS LIMITED
B-3, MIDC, Village Mira, Mira Road East, Thane - 401107, Maharashtra, India
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Phone : +91-22-68285454 Facsimile : +91-22-29452128 Email : [email protected] Website : www.pmlindia.com
B. Statement on Deviation or Variation for Proceeds of Public Issue, Rights Issue, Preferential Issue. Qualified Institutions Placement etc. - Not Applicable for the Quarter ended December 31, 2024
C. Format for disclosing outstanding default on loans and debt securities - No default during the Quarter ended December 31, 2024.
D. Format for disclosure of Related Party Transaction (applicable only for half-yearly filings i.e 2[nd] and 4[th ] quarter) - Not Applicable for the Quarter ended December 31, 2024.
E. Statement on Impact of Audit Qualifications (For Audit Report with modified opinion) submitted along-with Annual Audited Financial Results (Standalone and Consolidated separately) (applicable only for Annual Filing i.e., 4[th] quarter) - Not Applicable for the Quarter ended December 31, 2024.
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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