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The order received is worth $2.44 million (approx. Rs 19.40 crore).
The scope of the order involves supply of rocket motors including production line building and procurement of critical raw material.
Premier Explosives is engaged in manufacture of high energy materials like bulk explosives, packaged explosives, detonators, detonating fuse, solid propellants, pyrogen igniters, pyro devices, etc., having applications in mining, infrastructure, defence, space, homeland security and such other areas.
On a consolidated basis, the company reported a 0.8% rise in net profit to Rs 1.29 crore on a 57.8% jump in net sales to Rs 51.77 crore in Q1 FY23 over Q1 FY22.
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