Permanent Magnets Ltd

pmlindia.com BSE: 504132
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Permanent Magnets is one of the flagship Companies of Taparia Group, Mumbai and one of the leading manufacturers of Alnico Cast Magnets and Yoke Assemblies, Parts and accessories of electricity meters in the world. PML has started with supplies of Gas meters parts and accessories.

Website BSE
  • Market Cap ₹ 246 Cr.
  • Current Price ₹ 286
  • High / Low ₹ 320 / 81.6
  • Stock P/E 18.0
  • Book Value ₹ 61.7
  • Dividend Yield 0.00 %
  • ROCE 44.3 %
  • ROE 35.3 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 102.52% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 41.01%

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • Promoter holding has decreased over last quarter: -7.16%

Peer comparison

Sector: Consumer Durables Industry: Electronics - Components

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Quarterly Results

Figures in Rs. Crores

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
29.29 23.73 32.27 29.74 35.10 25.18 31.33 27.06 22.99 15.41 31.94 32.11
24.91 20.35 26.84 23.97 26.78 21.19 26.22 21.78 16.81 12.79 25.43 24.85
Operating Profit 4.38 3.38 5.43 5.77 8.32 3.99 5.11 5.28 6.18 2.62 6.51 7.26
OPM % 14.95% 14.24% 16.83% 19.40% 23.70% 15.85% 16.31% 19.51% 26.88% 17.00% 20.38% 22.61%
Other Income 0.26 0.05 0.57 0.06 0.30 0.55 0.29 0.54 1.32 0.35 -0.07 0.17
Interest 0.55 0.23 0.76 0.12 0.41 0.25 0.16 0.11 0.81 -0.02 0.34 0.21
Depreciation 0.34 0.29 0.40 0.50 0.37 0.31 0.37 0.55 1.75 0.68 0.78 0.96
Profit before tax 3.75 2.91 4.84 5.21 7.84 3.98 4.87 5.16 4.94 2.31 5.32 6.26
Tax % 21.33% 31.96% 28.51% 22.65% 31.89% 28.89% 23.61% 25.58% 20.24% 31.17% 32.89% 27.32%
Net Profit 2.94 1.97 3.46 4.03 5.34 2.83 3.72 3.84 3.94 1.58 3.58 4.55
EPS in Rs 3.42 2.29 4.02 4.69 6.21 3.29 4.33 4.47 4.58 1.84 4.16 5.29
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Profit & Loss

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
58 47 62 47 49 55 59 67 72 93 121 107 102
65 45 58 43 45 52 54 64 69 84 98 86 80
Operating Profit -7 2 4 4 3 3 4 4 3 8 23 21 23
OPM % -12% 4% 6% 8% 6% 5% 8% 5% 5% 9% 19% 19% 22%
Other Income 13 4 0 1 -1 1 0 0 1 1 1 3 2
Interest 3 4 3 6 4 3 3 2 2 2 2 1 1
Depreciation 1 1 1 1 1 1 1 1 1 1 2 3 4
Profit before tax 2 0 0 -2 -3 -1 1 1 1 7 21 19 19
Tax % 15% -8% -9% -40% 0% 0% 18% -11% 16% 22% 29% 24%
Net Profit 2 0 0 -2 -3 -1 0 1 1 5 15 14 14
EPS in Rs 2.31 0.30 0.28 -2.63 -2.98 -0.83 0.49 1.08 1.38 6.27 17.21 16.65 15.87
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:9%
5 Years:13%
3 Years:14%
TTM:-14%
Compounded Profit Growth
10 Years:32%
5 Years:103%
3 Years:129%
TTM:-13%
Stock Price CAGR
10 Years:35%
5 Years:82%
3 Years:45%
1 Year:241%
Return on Equity
10 Years:19%
5 Years:34%
3 Years:41%
Last Year:35%

Balance Sheet

Figures in Rs. Crores

Corporate actions
Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
9 9 9 9 9 9 9 9 9 9 9 9 9
Reserves 7 7 7 5 3 2 2 3 4 10 25 39 44
Borrowings 16 22 22 24 23 20 19 18 12 14 8 2 2
27 22 30 19 21 20 21 20 22 27 25 23 22
Total Liabilities 59 60 69 56 55 50 51 50 47 59 67 73 77
4 6 5 5 5 3 3 4 4 5 5 9 8
CWIP 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
55 54 64 51 50 47 48 46 43 55 62 64 68
Total Assets 59 60 69 56 55 50 51 50 47 59 67 73 77

Cash Flows

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
-12 -0 3 2 3 4 4 5 9 1 10 12
11 -0 -0 -1 -1 1 -1 -3 -2 -2 -2 -2
-0 2 -0 -8 -3 -6 -3 -2 -7 1 -7 -9
Net Cash Flow -1 2 3 -7 -1 -1 0 0 0 -0 1 1

Ratios

Figures in Rs. Crores

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % -17% 9% 8% 11% 9% 7% 13% 8% 11% 26% 60% 44%
Debtor Days 30 74 59 63 85 95 104 96 102 114 96 94
Inventory Turnover 1.32 0.96 1.10 0.79 0.98 1.18 1.59 1.97 2.69 4.09 4.28 2.88

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
71.81 71.81 71.81 71.81 71.62 70.04 69.88 70.01 70.02 69.72 67.19 60.03
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
28.18 28.18 28.18 28.18 28.37 29.95 30.11 29.98 29.97 30.27 32.80 39.96

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