Permanent Magnets Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 28 May 2026 | Electrical Equipment | Market Cap: ₹724 Cr
FY 2025-26 expected growth: ~10-15% revenue growth. Revenue Growth:** - Expecting 10% to 15% growth for the current fiscal year (FY26).
From Permanent Magnets Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹864
Market Cap
₹724 Cr
P/E Ratio
54.9
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Compare Permanent Magnets Ltd against every Electrical Equipment company this quarter on revenue, margins and earnings-call signals.
Permanent Magnets Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹67 Cr, net profit ₹4 Cr.
Full financials →📊 Revenue & Sales Performance
- →FY 2025-26 expected growth: ~10-15% revenue growth.
- →FY 2026-27 outlook: 20-30% growth expected, mostly from alloy business expansion and some EV orders.
- →Quantum Magnetics target: INR 3,700 crores revenue by FY 2030 (5,000 tons production capacity).
- →Pilot plant (500 tons) expected revenue: INR 300-350 crores.
- →Alloy business FY 27 revenue potential: INR 40-70 crores, with capacity fully booked or partially booked.
- →Relay business: Commercial larger volume sales anticipated from mid-FY 27; currently in testing phase.
- →EV-related products: Stable demand; some growth expected if pilot projects succeed; standard modules launched with early sales.
- →Overall EBITDA margins expected at 16-18%, reflecting growth and product mix changes.
📈 Profitability & Margins
- →**Revenue Growth:**
- → - Expecting 10% to 15% growth for the current fiscal year (FY26).
- → - Anticipating 20% to 30% growth in FY27, driven mainly by alloy and EV-related orders.
- →**EBITDA Margins:**
- → - Current margins at around 12%-13%.
- → - Expectation to improve to 15%-18% EBITDA margin overall next year (FY27) depending on product mix.
- → - EV and alloy businesses expected to contribute higher margins (15%-40% for EV-related products).
- →**Profitability:**
- → - Margins likely to remain stable around 16%-18% EBITDA with growth in alloy and relay segments.
- → - EBITDA of around INR550 crores targeted by FY30 with a revenue target of INR3,700 crores for the Quantum Magnetics segment.
- →**EPS:**
- → - No specific EPS forecast given, but growth in revenues and margin expansion implies positive EPS trajectory aligned with operational improvements.
🏗️ Capital Expenditure Plans
- →Quantum Magnetics Phase-wise Capex Plan:
- → - Total planned revenue by FY 2030: INR 3,700 crores.
- → - Total investment required: INR 550 crores to INR 750 crores for 5,000 tons production.
- → - Phase 1 (Pilot plant of 500 tons) capex: INR 50 crores to INR 100 crores.
- → - Phase 2: Block cutting facility expected by March (year not specified, likely 2026).
- → - Phase 3: Full-scale manufacturing of blocks in India targeted around 2027.
- →Funding Strategy:
- → - Plans to fund through a mix of debt and equity in the subsidiary.
- →Additional Investment:
- → - Setting up new furnace for alloy production in January-February-March (next fiscal year).
- →Government Incentives:
- → - Anticipating participation in INR 7,300 crore government scheme expected by December/January.
- →Joint Venture:
- → - 50-50 investment split between partner and PML; equity infusion to be shared equally.
💰 Fundraising & Capital Structure
- →For the Quantum Magnetics subsidiary, Permanent Magnets Limited is planning a phased capital expenditure for expanding production capacity up to 5,000 tons by FY 2030, requiring an investment of INR 550 to INR 750 crores.
- →Regarding funding this expansion, the company is still discussing options between debt, equity, or a combination to finance the capex.
- →In earlier phases, such as the pilot plant setup (500 tons capacity), the capex is estimated between INR 50 crores to INR 100 crores.
- →No specific current fundraising announcements were made, but future equity infusion in joint ventures will be split 50-50 between the company and the partner.
- →The company intends to proceed in an aggressive but cautious manner, balancing debt and equity based on evolving needs and execution phases.
📋 Order Book & Pipeline
- →Alloy Business: Partially booked for new 750-ton capacity; visibility from customers with orders generally given 1-2 months in advance. Current demand strong; running at full capacity already. Expected revenue in FY '27: INR40-70 crores, can increase with more customers.
- →Relay Business: Samples submitted to 3-4 companies; in testing and certification phase. Customers doing field tests; commercial volumes expected from mid FY '27 onwards.
- →Quantum Magnetics (Subsidiary): Orders in hand for Phase 1 expansion but unable to supply due to import restrictions (now relaxed). Expected production start around March 2026.
- →Current sensor products: One customer already started using; pilot lots given to others; expected FY '27 sales INR2-5 crores. Engaged with 4-5 customers for alloys including aerospace and defense segments.
- →Overall growth optimistic for FY '27, heavily dependent on alloy order bookings and scaling of relay business.
Key Metrics
Frequently Asked Questions
What were Permanent Magnets Ltd Q2 FY26 results?
FY 2025-26 expected growth: ~10-15% revenue growth. Revenue Growth:** - Expecting 10% to 15% growth for the current fiscal year (FY26).
What is Permanent Magnets Ltd share price analysis?
Permanent Magnets Ltd currently shows a neutral. The stock trades at a P/E of 54.9 with a market cap of ₹724 Cr. Investors should review the full earnings analysis for detailed insights.
Is Permanent Magnets Ltd planning capital expenditure?
Quantum Magnetics Phase-wise Capex Plan: - Total planned revenue by FY 2030: INR 3,700 crores.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.