Board Meeting13 May 2026, 05:21 pm
Permanent Magnets: Recommends ₹2.20 Dividend, Approves Results
AI Summary
Permanent Magnets Ltd's board approved audited financial statements for the year ended March 31, 2026, and recommended a final dividend of ₹2.20 per equity share (22% on face value of ₹10). They also approved the appointment of Krishna S & Associates as Cost Auditor for FY2026-27, subject to shareholder ratification. Additionally, the board approved alterations to the MOA, increased borrowing limits from ₹100 crores to ₹300 crores, and approved increased limits for encumbering company assets, all subject to shareholder approval at the upcoming AGM.
Key Highlights
- Final dividend of ₹2.20 per share (22%) recommended for FY26.
- Audited financial statements for FY26 approved with an unmodified opinion.
- Krishna S & Associates appointed as Cost Auditor for FY27.
- Borrowing limits increased from ₹100 Cr to ₹300 Cr, subject to approval.
- Alteration in object clause of Memorandum of Association (MOA) approved.
Price Impact
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