The shares of Explosive stock, specializing in the manufacturing of industrial explosives and detonators, jumped 5 percent upon receiving a work order from BrahMos Aerospace Pvt Limited for Rs. 26.40 Crores.
Price action
With a market capitalization of Rs. 2,293.72 crores on Friday, the shares of Premier Explosives Limited jumped up to 5.15 percent making a high of Rs. 450 per share compared to its previous closing price of Rs. 427.80 per share.
What Happened
Premier Explosives Limited specializing in the manufacturing of industrial explosives and detonators has received a domestic work order from BrahMos Aerospace Private Limited for worth Rs. 26.40 Crores. The order is for supplying Propellant casting and Assembly of Boosters to be delivered over 2 years.
About the Company
Premier Explosives Limited is a leading manufacturer of industrial explosives and detonators, offering a wide range of products including bulk explosives, detonators, accessories, and serving sectors like mining, construction, and defense. The company specializes in providing advanced and reliable blasting solutions for various applications.
Revenue Break up – Q2 & H1FY25
The Revenue is driven by two segments as follows: Bulk explosives have contributed Rs. 15.4 crore lower than last quarter’s Rs. 17.1 crore and Defence & Space services have contributed Rs. 79.2 crore higher than last quarter’s Rs. 65.8 crore.
Orderbook Segment (As of September 2024)
Premier Explosives has a robust order book of Rs. 827 crores and it is divided as follows: 88 percent (Rs. 727 crores) from defence, 9 percent (Rs. 74 crore) from services, and 3 percent (Rs. 24 crores) from explosives.
Financials
The company’s revenue rose by 21.3 percent from Rs. 78.83 crore to Rs. 95.66 crore in Q2FY24-25. Meanwhile, Net profit fell from Rs. 11.65 crore to Rs. 8.42 crore during the same period.
Written by Sridhar J
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