The markets closed off positively on Wednesday, with the Nifty closing up 0.32% at Rs. 19,632.55. Sensex increased 0.23% at Rs. 65,995.81. The stock listed below has given multi-bagger returns within one month. The stock price is supported by strong and increasing volume which has crossed the previous day and one week’s average.
Premier Explosives Limited
The company belongs to a small-cap, with a market capitalisation of Rs. 1,113 Cr. On Wednesday company shares hits a 5% upper circuit at Rs. 1,035.85. Within one month, the stock has delivered 110% returns to the investors ( meaning an investment of 1L made a month ago would be now worth 2.10L).
As per the company exchange filling, total revenue grew by 19.66% YoY basis from Rs. 51.77 Cr in Q1 FY23 to Rs. 61.95 Cr in Q1 FY24 and an 18% increase in QoQ basis from Rs. 52.32 Cr in Q4 FY23 to Rs. 61.95 Cr in Q1 FY24.
Net profit rose by 551% YoY basis from Rs. 1.26 Cr in Q1 FY23 to Rs. 8.21 Cr in Q1 FY24 and 252% increase in QoQ basis from Rs. 2.33 Cr in Q4 FY23 to Rs. 8.21 Cr in Q1 FY24. EPS of the company Rs. 6.4 as of March 2023.
The company’s order book was Rs. 1,107.9 Cr as of June 2023. Order book breaks up -82% from the defence, 11% from the services and 7% from the explosives.
Promoters own 41.33%, FIIs hold 0.26%, DIIs hold 3.31%, and Retail & Others hold a 55.10% stake in this company as of June 2023. Most prominent investors include Dilipkumar lakhi-9.86%, HDFC Group-3.3% and Atim Kabra-1.89%.
A prominent producer of solid propellants for India’s main missile systems, including Akash, Astra, and LRSAM, is Premier Explosives Ltd. The company was the first in India to manufacture explosives and detonating fuses using local technology and the first in the world to commercially create safer and greener NHN detonators.
Written by Sheshadri N
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