Permanent Magnets Ltd Share Price – NSE  /  BSE

Consumer Durables, Small Cap

The agency has also upgraded Permanent Magnets’ short-term rating to ‘ACUITE A3’ from 'ACUITE A4+’.

Acuité Ratings said that the rating has been upgraded considering PML’s sustained improvement in the operating performance along with a healthy financial risk profile.

The financial risk profile is healthy marked by healthy net worth, low gearing and comfortable debt protection metrics.

Further, the debt protection metrics of the company are comfortable with Interest coverage ratio (ICR) and Debt service coverage ratio (DSCR) of 35.41 times and 27.68 times as of 31 March 2023.

The rating further continues to factor in the long standing experience of the management and PML’s established track record of operations. The rating however remains constrained due to intensive working capital operations, high reliance on non-fund-based working capital limits.

Mumbai-based Permanent Magnets is engaged in manufacturing of Alnico (Aluminium, Nickel and Cobalt) Magnets & Magnetic assemblies, parts and accessories of Electricity Meters, Gas Meters and Electrical vehicles.

Powered by Capital Market - Live News

Permanent Magnets has received upgrade in credit ratings from Acuite Ratings and Research for banking facilities availed by the company as under:

Long term rating - ACUITE BBB-; Stable
Short term rating - ACUITE A3

Powered by Capital Market - Live News

Antony Waste Handling Cell Ltd, D P Wires Ltd, Sprayking Ltd and I G Petrochemicals Ltd are among the other losers in the BSE's 'B' group today, 14 February 2024.

Permanent Magnets Ltd crashed 16.25% to Rs 1057.95 at 14:32 IST.The stock was the biggest loser in the BSE's 'B' group.On the BSE, 97211 shares were traded on the counter so far as against the average daily volumes of 8458 shares in the past one month.

Antony Waste Handling Cell Ltd tumbled 10.16% to Rs 479.5. The stock was the second biggest loser in 'B' group.On the BSE, 40786 shares were traded on the counter so far as against the average daily volumes of 47457 shares in the past one month.

D P Wires Ltd lost 8.69% to Rs 474.15. The stock was the third biggest loser in 'B' group.On the BSE, 21355 shares were traded on the counter so far as against the average daily volumes of 3901 shares in the past one month.

Sprayking Ltd fell 7.60% to Rs 249.9. The stock was the fourth biggest loser in 'B' group.On the BSE, 50479 shares were traded on the counter so far as against the average daily volumes of 73022 shares in the past one month.

I G Petrochemicals Ltd plummeted 7.13% to Rs 458.1. The stock was the fifth biggest loser in 'B' group.On the BSE, 7686 shares were traded on the counter so far as against the average daily volumes of 4217 shares in the past one month.

Powered by Capital Market - Live News

Net profit of Permanent Magnets declined 49.83% to Rs 4.56 crore in the quarter ended December 2023 as against Rs 9.09 crore during the previous quarter ended December 2022. Sales declined 4.34% to Rs 50.53 crore in the quarter ended December 2023 as against Rs 52.82 crore during the previous quarter ended December 2022.

Powered by Capital Market - Live News