Any current/future new fundraising through debt or equity?

There is no specific mention of any current or planned fundraising through debt or equity in the provided transcript. CAPEX plans for the current year are about Rs. 15-18 crores, mainly for alloys and other projects, with no detailed mention of funding sources. For next year, no CAPEX items are planned as of now, but additional equipment may be added depending on capacity fulfillment. The company is focusing on expanding capabilities rather than directly indicating the need for external fundraising. No explicit statements on raising funds through equity or debt have been provided in the call e

Any current/future capex/capital investment/strategic investment?

Current year CAPEX plan is about Rs. 15 crore to Rs. 18 crore, including Rs. 8 crore towards alloy segment and the balance towards other projects. Additional CAPEX planned over the next years on land and building for new factory setups. No specific CAPEX items planned beyond land and building at present, but equipment additions may happen depending on capacity requirements and project-specific needs. Alloy business has installed two furnaces for vacuum induction process; one more furnace for ribbon manufacturing installation expected within two months. Plans to expand capabilities in alloy pro

Future growth expectations in sales/revenue/volumes?

The company anticipated 20% to 25% sales growth for FY24 but now expects growth to be slightly lower, around 7-7.5%, due to some pushouts of EV orders. Growth in energy meters is showing good traction and may positively impact overall revenue. The EV and automotive segment constitutes about 37% of revenues, with 90% of that from EVs, indicating a strong future market opportunity. The energy meter segment, including smart meters, accounts for about 43% of revenue, with expectations of increased demand linked to government replacement programs, although implementation may take longer. Th

Future growth expectations in earnings/operating earnings/profits/EPS?

The company initially targeted a 20-25% growth for the current year but now expects growth to be slightly lower, around 7-7.5%, due to push outs of orders from the EV segment. Despite some slowdown concerns in the EV market globally, the company remains optimistic about recovery and does not foresee a significant adverse impact on its overall business growth. Growth in the energy meter segment, especially domestic, is showing good traction, potentially contributing positively to future earnings. The company is expanding into higher value-added products like smart meters and modules, whic

Current/ Expected Orderbook/ Pending Orders?

Energy metering order booking has started with listed companies showing order books of Rs. 19,000 to Rs. 20,000 crore. The total replacement program for smart meters by the government might take longer to implement than originally planned. Orders are being executed by companies that have won the tenders, with a slight increase in demand observed. On the EV side, there are some push outs and concerns about slowing growth globally, causing some delays. Multiple projects in different stages of feasibility, price approval, and prototype submission are progressing. The ramp-up of new projects like

Permanent Magnets LtdQ2 FY24Electrical Equipment

Permanent Magnets Ltd Q2 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹1,063.85P/E: 69.3Market Cap: ₹915 CrSector: Electrical Equipment

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

N/A

Order

Yes

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 3

The company anticipated 20% to 25% sales growth for FY24 but now expects growth to be slightly lower, around 7-7.5%, due to some pushouts of EV orders.
Growth in energy meters is showing good traction and may positively impact overall revenue.
The EV and automotive segment constitutes about 37% of revenues, with 90% of that from EVs, indicating a strong future market opportunity.
The energy meter segment, including smart meters, accounts for about 43% of revenue, with expectations of increased demand linked to government replacement programs, although implementation may take longer.
The modules business is expected to grow as projects progress, gradually increasing its revenue share over the next few years.
New projects, including quantum magnetic assemblies, are expected to contribute from FY25 onward.
Overall, the company remains positive about growth despite current market and order delays.

Margin guidance

Category 3

The company initially targeted a 20-25% growth for the current year but now expects growth to be slightly lower, around 7-7.5%, due to push outs of orders from the EV segment.
Despite some slowdown concerns in the EV market globally, the company remains optimistic about recovery and does not foresee a significant adverse impact on its overall business growth.
Growth in the energy meter segment, especially domestic, is showing good traction, potentially contributing positively to future earnings.
The company is expanding into higher value-added products like smart meters and modules, which are expected to increase their revenue proportion and margins over the next few years.
Investments in plant and machinery are increasing costs currently, with benefits anticipated from fiscal year 2025 onwards.
The commissioning of a new subsidiary manufacturing magnetic assemblies is expected to start contributing in the near term.

See what Permanent Magnets Ltd management said on margin guidance — free account, 30 seconds.

Fundraise plans

There is no specific mention of any current or planned fundraising through debt or equity in the provided transcript.
CAPEX plans for the current year are about Rs. 15-18 crores, mainly for alloys and other projects, with no detailed mention of funding sources.
For next year, no CAPEX items are planned as of now, but additional equipment may be added depending on capacity fulfillment.
The company is focusing on expanding capabilities rather than directly indicating the need for external fundraising.
No explicit statements on raising funds through equity or debt have been provided in the call excerpts.

Order book

Yes

Energy metering order booking has started with listed companies showing order books of Rs. 19,000 to Rs. 20,000 crore.
The total replacement program for smart meters by the government might take longer to implement than originally planned.
Orders are being executed by companies that have won the tenders, with a slight increase in demand observed.
On the EV side, there are some push outs and concerns about slowing growth globally, causing some delays.
Multiple projects in different stages of feasibility, price approval, and prototype submission are progressing.
The ramp-up of new projects like module assembly and quantum magnetics is ongoing, but revenue projections depend on execution timelines.
Overall, while push outs may impact short-term growth, the pipeline for FY25 and beyond remains strong with positive outlook.

See what Permanent Magnets Ltd management said on order book — free account, 30 seconds.

Capex plans

Yes

Current year CAPEX plan is about Rs. 15 crore to Rs. 18 crore, including Rs. 8 crore towards alloy segment and the balance towards other projects.
Additional CAPEX planned over the next years on land and building for new factory setups.
No specific CAPEX items planned beyond land and building at present, but equipment additions may happen depending on capacity requirements and project-specific needs.
Alloy business has installed two furnaces for vacuum induction process; one more furnace for ribbon manufacturing installation expected within two months.
Plans to expand capabilities in alloy production targeting nickel, cobalt, molybdenum, super alloys.
JV in neodymium magnets phase currently funded solely by PML, with expected additional investment in coming months.
CAPEX for JV expected to enable ramp-up with main revenue anticipated in 2024-25.

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Permanent Magnets Ltd Q2 FY24 Earnings Call Analysis

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Fundraise plans

Capex plans

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What Permanent Magnets Ltd's management said in earlier quarters

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