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Permanent Magnets Ltd

NSE: PERMAGNET BSE: 504132

₹809.05

(-4.88)%

Thu, 05 Feb 2026, 03:59 pm

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permanent magnets ltd History

1960

  • The Company was incorporated on 26th November at Baroda.
  • The Company's object is to manufacture and deal in all kinds of permanent magnets, ores, metals, alloys and their products.

1961

  • 1,100 shares were allotted without payment in cash and 2,900 shares for cash to Centro Magneti Permanenti.
  • 10,710 shares were allotted to promoters and 10,290 shares to the public in January 1961.

1962

  • Final call of Rs.25 per share was made during the year.

1967

  • 2,500 Bonus equity shares were issued in the proportion 1:10.

1971

  • 16,500 Rights shares were issued at par in proportion 3:5.

1980

  • 10,332 bonus shares were issued in proportion 1:4.

1981

  • The Company issued Rights secured non-convertible debentures for Rs.38.75 lakhs for working capital purposes.

1982

  • The Company's application for expansion of the capacity of hard ferrite plant at Jalgaon was approved by Government.
  • The Company signed technical collaboration agreement with M/s. Sumitomo Special Metals Co. Ltd., Japan for updating of its cast magnet plant.
  • A programme of modernisation of ferrite plant was drawn up.

1983

  • The facility for the manufacture of sector ferrite magnets was successfully set up at the Borivli plant.
  • The programme of modernising ferrite plant was being successfully implemented.

1984

  • Profits were lower due to losses incurred by the Jalgaon plant.
  • 25,830 bonus shares were issued in proportion 1:2.

1985

  • The profitability was affected due to decline in production and sales of cast magnets, poorer sales realisation of ferrite magnets, overall increase in costs of various inputs and substantial decline in production at the Jalgaon plant.
  • Overall exports rose substantially to Rs.1.53 crores mainly due to sluggish demand for cast and ferrite magnets in the local markets.
  • The Company incurred losses mainly due to unremunerative prices for ferrite magnets coupled with rise in production costs.
  • The Company issued to UTI and LIC on private placement basis 15% secured redeemable non-convertible debentures for a total value of Rs.75,00,000.

1986

  • The Company finalised a project for the manufacture of a family planning device - Copper T in collaboration with Leiras Pharmaceuticals, Finland.
  • A new Company by the name 'Famy Care Ltd.' was formed with the Company contributing to 10% of the new Company's capital.

1988

  • The profitability was adversely affected due to lower capacity utilisation at the Jalgaon plant, poor price realisation of hard ferrite rings, decline in exports of ferrite magnets and steep rise in the prices of raw materials.

1989

  • The Company came under the provision of Sick Industrial Companies (Sp. provisions) Act, 1985 due to erosion in the net worth by more than 50%.

1990

  • 77,491 Rights shares were issued at par in proportion 1:1 in February 1991.
  • Additional 19,372 shares were allotted to retain oversubscription.

1992

  • 18,852 shares were allotted on conversion of term loan of financial institution into shares.

1994

  • The Company issued 2,89,809 rights equity shares at a premium of Rs.100 per share and in proportion 3:2.
  • 4,380 shares and 6,450 shares were allotted to IDBI and ICICI respectively on conversion of loans.

2003

  • The Board approved to offer 2469225 equity shares of Rs 10 each at par on right basis to the existing shareholders of the company in the ratio of 1:2.

2011

  • The Registered Office of the Company was shifted to Plot No. 110/1/11 & 110/1/12, Himalaya Industrial Estate, Village Amli, Silvassa - 396230, Dadra and Nagar Haveli (U.T.).

2013

  • The Company shifted its registered office to new premises at Harsh Avenue, 302, 3rd Floor, Opp. Silvassa Police Station, Silvassa Vapi Main Road, Silvassa- 396230, Dadra and Nagar Haveli (U.T.).

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Pocketful Fintech Capital Private Limited (CIN U65999DL2021PTC390548) | The SEBI Registration No. allotted to us is INZ000313732. NSE Member Code: 90326 | BSE Member Code: 6808 | MCX Member Code: 57120 DP | CDSL: 12099800