Promoted by the Piramals of Morarjee Goculdas, Delta Manufacturing Limited (Formerly known as Delta Magnets Limited) was established on September 23, 1982 with technology provided by Tokyo Kikai Sangyo (TKS) Company, Japan, to provide magnets to OEMs. The Company's manufacturing plant is in Nashik , Northeast of Mumbai, India which is the nearest sea as well as airport. The principal business of the Company is manufacturing of hard ferrite magnets, soft ferrite magnets, textile woven labels, fabric printed labels and elastic / woven tape.
Apart from this, the Company manufactures ring magnets for Loudspeakers, arc magnets for automobiles, flat rectangular shaped magnets for various other applications and Isotropic rings for DC motor, dynamo etc. The Company started commercial production in 1986. During the period 1998-99, it commissioned a new plant, having doubled the capacity from 1800 TPA to 3600 TPA.
The Company acquired 100% stake of MMG India Private Limited and MMG Magdev Limited, U.K. effective on June 30, 2010, making them the wholly owned subsidiary of the Company in FY 2009-10.,
Pilamec Ltd., UK was made step down subsidiary of the Company in 2017. The Company had issued and allotted 4,380,106 Equity Shares of the face value of Rs 10/- each through the Scheme of Amalgamation between the Company, Arrow Textiles Limited (ATL) and MMG India Private Limited (MMG) in December, 2019 and as a result of this, MMG India Private Limited has ceased to be subsidiary of the Company pursuant to the Scheme in 2019-20.