24-Oct-2026 22:50:14
PERMANENT MAGNETS Q2 CONCALL : FY27 REVENUE GROWTH GUIDANCE AT 20–30%, EBITDA MARGIN TARGET AT 20–25% & ALLOYS REVENUE EXPECTED AT ₹40–50 CR
• MANAGEMENT EXPECTS FY27 REVENUE GROWTH OF 20–30%, SUPPORTED BY STRONG EV DEMAND & EXPORT ORDERS • FY27 EBITDA MARGIN GUIDANCE MAINTAINED AT 20–25% VS APPROXIMATELY 25% IN Q2 • AUTOMOTIVE REVENUE UP 129% YOY TO ₹24 CR, SUPPORTED BY STRONG EXPORT EV DEMAND • MANAGEMENT EXPECTS EV DEMAND TO REMAIN NEAR Q2 LEVELS THROUGH H2 FY27 • FY28 EV DEMAND COULD REMAIN SIMILAR, BUT FIRM CUSTOMER FORECASTS ARE NOT YET AVAILABLE • ALLOYS BUSINESS REVENUE TARGETED AT ₹40–50 CR IN FY27, WITH IMPROVED CAPACITY UTILIZATION EXPECTED IN H2 • ALLOYS FY28 REVENUE COULD REACH ₹70–80 CR, SUBJECT TO SUCCESSFUL CAPACITY RAMP-UP • ALLOYS BUSINESS EXPECTED TO REACH EBITDA BREAKEVEN OR MARGINALLY POSITIVE LEVELS IN FY27 • RELAY PILOT SUPPLIES EXPECTED IN H2 FY27, WITH COMMERCIALIZATION TARGETED FOR FY28 • RELAY BUSINESS HAS POTENTIAL GROSS MARGINS OF 15–30%, SUBJECT TO CUSTOMER APPROVALS & COMMERCIAL EXECUTION • QUANTUM MAGNETICS PHASE 2 COMMISSIONED IN OCTOBER 2026, WITH COMMERCIAL RAMP-UP EXPECTED IN FY28 SUBJECT TO APPROVALS • QUANTUM MAGNETICS FY28 REVENUE POTENTIAL INDICATED AT ₹10–40 CR, BUT MANAGEMENT HAS NOT PROVIDED FIRM GUIDANCE • QUANTUM PHASE 2 INSTALLED CAPACITY HAS INDICATIVE ANNUAL REVENUE POTENTIAL OF ₹40–60 CR, DEPENDING ON PRODUCT MIX • ECMS APPROVAL RECEIVED FOR INCENTIVES EQUIVALENT TO 25% OF ELIGIBLE CAPEX, SUBJECT TO SCHEME CONDITIONS; PLANT CONSOLIDATION COULD SAVE ₹5 CR ANNUALLY OVER TIME • EV DEMAND SUSTAINABILITY, ALLOYS UTILIZATION, RELAY APPROVAL DELAYS, QUANTUM COMMERCIALIZATION & CHINA IMPORT DEPENDENCE REMAIN KEY RISKS
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