Permanent Magnets Ltd Expands Footprint with Land Acquisition in Palghar

Permanent Magnets Ltd has successfully acquired 82.60 gunthas of land in Palghar, Maharashtra, as part of its strategic expansion plan. The newly acquired land will house an integrated manufacturing facility aimed at consolidating operations and boosting production capabilities. The company plans a capital expenditure of ₹20-25 crore for land, building, and machinery to enhance its capacity and technical expertise. This move aligns with Permanent Magnets’ focus on diversifying product categories, including shunts and soft magnetic compounds, while exploring opportunities in smart modules and alloy-making. The facility is expected to play a pivotal role in catering to growing customer demand and driving future growth.

 

Source: Permanent Magnets Ltd Annual Report