Permanent Magnets – Business under transformation?

Notes from concall q4fy23 transcript –

1. Sales from automotive segment was 32% & sales from energy meters 45%

2. 35% domestic and 66% exports in automotive.

3. Shivalik bimetal is our supplier, we use their material and we make assemblies which are customised to customer requirements for shunts.

4. Maglab is acquired by another company called CTS.

5. PML has been selected as preferred suppliers to Itron & we getting inquires for other products from them.

6. Smart meter 80% export 20% domestic.

7. We do not have any success from electronic gas meter parts and do not have any visibility.

8. Growth for coming year fy24 we expect about 20% to 25%

9. Hiperm division contribution to sales 50%, shunts 30%.

10. Modules sell was only Rs. 2 cr.

11. Region-wise exports America 29%, Europe 25%, Asia including India 46%, China may be around 10%

Out of 183cr revenue modules are only 2cr which is 1% of revenue. That means the company is not into modules at all and 30% of their sales is from shunts also they are buying shunts from Shivalik. Are they just doing trade of shunts without any value add!

Disclosure –
Invested in small quantity.