- Business
- Permanent Magnets Limited manufactures Alnico cast magnets, yoke assemblies, and precision electrical components for current sensing and magnetic applications; offers magnetic assemblies including separators, lifters, filters, holding devices, sweepers, and pot magnets; produces shunts, shunt assemblies, brass terminals, and automotive shunts for energy meters, electric vehicles, and inverters; provides magnetic cores and shields using high permeability nickel-iron alloys and Mu-Metal; and supplies current transformers, residual current circuit breakers, core balance current transformers, amorphous cut cores, nano crystalline cores, and soft magnetic cobalt iron alloys. The company serves industries such as EV/HEV, renewable energy, aerospace, defense, medical, energy meters, food, pharmaceutical/chemical, cement/steel, paper/textiles, automotive, telecommunications, and power generation with operations focused on India and worldwide exports. Founded in 1960 and headquartered in Thane, India, as a flagship of the Taparia Group with facilities in Silvassa, Dadra and Nagar Haveli, it recently formed a strategic joint venture through subsidiary QM Power Magnetics Private Limited with Lorentic in 2025 to expand neodymium magnets production, enhance R&D, and access international markets.