Established in 1960, Permanent Magnet Limited stands as a cornerstone within the Taparia Group, headquartered in Mumbai. Renowned globally, it specializes in manufacturing cast alloy permanent magnets, as well as parts and accessories for electricity and electric vehicle components. The company is a prominent provider of tailored solutions in electrical components and assemblies, leveraging core technologies applicable across various industries including automotive, energy metering, renewable energy, aerospace, defense, and more.
Distinguished by its proficiency across five core product platforms, Permanent Magnet Limited designs and delivers customized solutions, covering magnetic sensing, current sensing, magnetic assemblies, alloys, and ZAMAK die-casting. Drawing upon extensive expertise in metallurgy, mechanical engineering, electrical engineering, and electronics, the company offers comprehensive solutions to its clientele. Additionally, it boasts superior capabilities in component and module design, simulation, prototyping, metallurgical processes, and various manufacturing technologies such as assembly processes, finishing processes, hot chamber die-casting, and plastic molding.
In January 1991, the company initiated a rights issue comprising 0.77 lakh equity shares of Rs. 100 each at par, aggregating Rs. 77.49 lakh on a 1:1 basis, aimed at funding capital expenditures and fulfilling long-term working capital requirements. Permanent Magnet Limited manufactures two primary types of magnets: cast alloy permanent magnets and hard ferrite magnets.
Further, in 2008, the company executed a Scheme of Amalgamation involving Taparia Magnetics Private Limited, Sampada Capital Services Limited, and Suyog Agencies Limited, alongside an Arrangement with the Preference Shareholders of the Company. The implementation in 2009 saw the allotment of shares to the shareholders of the Transferor Companies and Preference Shareholders of the Company as per the specified ratio in the Scheme.
Distinguished by its proficiency across five core product platforms, Permanent Magnet Limited designs and delivers customized solutions, covering magnetic sensing, current sensing, magnetic assemblies, alloys, and ZAMAK die-casting. Drawing upon extensive expertise in metallurgy, mechanical engineering, electrical engineering, and electronics, the company offers comprehensive solutions to its clientele. Additionally, it boasts superior capabilities in component and module design, simulation, prototyping, metallurgical processes, and various manufacturing technologies such as assembly processes, finishing processes, hot chamber die-casting, and plastic molding.
In January 1991, the company initiated a rights issue comprising 0.77 lakh equity shares of Rs. 100 each at par, aggregating Rs. 77.49 lakh on a 1:1 basis, aimed at funding capital expenditures and fulfilling long-term working capital requirements. Permanent Magnet Limited manufactures two primary types of magnets: cast alloy permanent magnets and hard ferrite magnets.
Further, in 2008, the company executed a Scheme of Amalgamation involving Taparia Magnetics Private Limited, Sampada Capital Services Limited, and Suyog Agencies Limited, alongside an Arrangement with the Preference Shareholders of the Company. The implementation in 2009 saw the allotment of shares to the shareholders of the Transferor Companies and Preference Shareholders of the Company as per the specified ratio in the Scheme.
