Quarterly Updates14 Jul 2025, 04:57 pm
Permanent Magnets Ltd. Reports Annual Results for FY25, Laid Foundations for Future Growth
AI Summary
Permanent Magnets Ltd. (PML) has reported its annual results for the financial year 2024-25, reflecting a year of consolidation and transition. The company saw a 2% increase in revenue, but profitability margins were affected due to slowdowns in the Electric Vehicles (EV) segment and the Domestic Smart Meters business. The company is laying the groundwork for future growth by diversifying its customer base, deepening engagement with Indian EV OEMs, and broadening its product portfolio. Initiatives in alloys and rare earth magnets are also underway.
Key Highlights
- Revenue increased by 2% in FY25
- Profitability margins affected due to slowdown in EV and Domestic Smart Meters businesses
- Strategic actions taken to strengthen foundation and position for future progress
- Diversifying customer base in EV segment and deepening engagement with Indian OEMs
- Broadening product portfolio in domestic smart meters business
- Investing in new furnace for alloys facility to enhance capacity
- Initiatives in rare earth magnets value chain underway
- AS 9100:2016 certification for alloys facility opens potential opportunities in aerospace, aviation, and defense sectors