Hot Pursuit     06-Jul-23
Premier Explosives jumps on procuring orders worth Rs 86 cr
Premier Explosives surged 5.85% to Rs 465.35 after the company received orders from Ministry of Defence, and Bharat Dynamics, Hyderabad aggregating to Rs 86.51 crore.
The order received from Ministry of Defence, Air HQ (Vayu Bhawan), New Delhi involves supply of 50 mm MTV flares for Rs 76.78 crore.

The subsequent order bagged from Bharat Dynamics, Hyderabad entails supply of booster grains for Rs 9.73 crore.

Both the orders are to be executed within twelve months.

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's net profit zoomed to Rs 2.41 crore in Q4 FY23 as against Rs 0.32 crore in Q4 FY22. However, net sales declined 13.4% YoY to Rs 52.32 crore in Q4 FY23.

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