Permanent Magnets Ltd shares surged 20% to ₹1,037.45 on Monday, October 26, hitting the upper circuit after the company reported its financial results for the September quarter of FY27. The stock rose from its previous close of ₹864.55 to touch a new 52-week high of ₹1,037.45.
The rally followed a strong quarterly performance, with revenue from operations increasing 47.5% year-on-year and consolidated net profit rising more than threefold from the corresponding quarter last year. The company also reported higher revenue and profit compared with the June 2026 quarter.
According to market data, the stock touched an intraday low of ₹972 and a high of ₹1,037.45 on October 26. Its previous session's trading range was ₹833.60 to ₹901. The share price had therefore advanced approximately 42% from the October 23 intraday low to Monday's high.
Permanent Magnets Q2 Results: Revenue Rises to ₹72.46 Crore
Permanent Magnets reported revenue from operations of ₹72.46 crore for the quarter ended September 30, 2026, compared with ₹49.13 crore in the corresponding quarter of the previous financial year. Revenue increased 47.5% year-on-year.
On a sequential basis, revenue rose 14.6% from ₹63.23 crore in the June 2026 quarter.
Consolidated net profit stood at ₹7.51 crore, compared with ₹2.37 crore in Q2 FY26, representing growth of approximately 216.9%. Net profit also increased from ₹3.81 crore in the preceding quarter, a sequential rise of approximately 97.1%.
Consolidated earnings per share (EPS) increased to ₹8.73 from ₹2.76 in the year-ago quarter.
Permanent Magnets Q2 Financial Performance
Financial metric | Q2 FY27 | Q2 FY26 |
|---|---|---|
Revenue from operations | ₹72.46 crore | ₹49.13 crore |
Consolidated net profit | ₹7.51 crore | ₹2.37 crore |
Earnings per share | ₹8.73 | ₹2.76 |
Source: Company financial results. Figures are consolidated unless otherwise specified.
EBITDA Increases 159% to ₹17.81 Crore
The company reported EBITDA of ₹17.81 crore for Q2 FY27, an increase of approximately 159% from the corresponding quarter last year. The EBITDA margin improved to around 25%, according to the company's results commentary.
Managing Director Sharad Taparia attributed the revenue performance to demand from the electric vehicle (EV) segment and a pickup in demand from domestic smart-meter customers.
The company said it expects EV demand to remain at a similar level for the remainder of the financial year, based on its current projections. It also reported improved margins during the quarter, citing product mix and operating leverage.
Alloys Division Sees Higher Revenue; New Furnace Utilisation in Focus
Permanent Magnets said revenue from its Alloys division increased significantly in the first half of FY27 compared with the corresponding period last year. However, the division could not fully utilise its capacity because of initial operational issues at a new furnace.
The company expects utilisation of the new furnace to improve in the second half of FY27.
The development is part of the company's manufacturing operations across magnets, magnetic assemblies, alloys and related engineering components.
Relays Business and Quantum Magnetics Expansion
The company also provided updates on its Relays business and Quantum Magnetics operations.
For the Relays business, Permanent Magnets expects to begin pilot supplies during the second half of FY27, with a material ramp-up anticipated in FY28.
In Quantum Magnetics, the company commissioned Phase 2 capital expenditure in October 2026. The expansion covers block cutting, machining and surface-treatment capabilities. The company said the product approval process was expected to begin shortly.
These updates form part of the company's ongoing capacity and product-development activities.
Permanent Magnets Share Price on October 26
Permanent Magnets shares reached ₹1,037.45 on October 26, compared with the previous close of ₹864.55. The 20% rise took the stock to its upper circuit limit for the session.
The share-price movement followed the company's September-quarter results, which showed year-on-year and sequential growth in revenue and consolidated net profit.
Permanent Magnets Ltd manufactures permanent magnets, magnetic assemblies, current-sensing components and related products for applications across automotive, electrical metering, energy and industrial markets.