{"id":105423,"date":"2023-07-19T17:59:00","date_gmt":"2023-07-19T12:29:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=105423"},"modified":"2023-07-19T17:47:35","modified_gmt":"2023-07-19T12:17:35","slug":"defence-stock-hits-10-upper-circuit-after-company-reports-540-increase-in-net-profit-in-q1","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/defence-stock-hits-10-upper-circuit-after-company-reports-540-increase-in-net-profit-in-q1\/","title":{"rendered":"Defence stock hits 10% upper circuit after company reports 540% increase in net profit in Q1"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2118854653\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>A small-cap defence stock vaulted 10 percent by the closing bell on Wednesday and got locked in an upper circuit after it reported stellar results for the first quarter of the financial year 2023-24 (Q1FY24).&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-65089560\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/PREMEXPLN\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Premier Explosives<\/a><\/strong> were locked at \u20b9 889.55 apiece in a 10 percent upper circuit after it reported a 540 percent increase in its consolidated net profit at \u20b9 8.26 crores for the April to June quarter (Q1FY24) against \u20b9 1.29 crores reported in the corresponding quarter\u00a0last year (Q1FY23). The company\u2019s total revenue climbed 19 percent to \u20b9 62.25 crores in Q1FY24 against \u20b9 52.22 crores reported in the same quarter a year ago.\u00a0<\/p><p>The company\u2019s share price rose from \u20b9 339.30 apiece to \u20b9 889.55, delivering multibagger returns of 162 percent in the past year. Therefore, if an investor had invested in the company\u2019s shares a year ago, the value of their holdings would have been \u20b9 2.62 lakhs today!&nbsp;<\/p><p>Premier Explosives primarily manufactures high-energy materials and allied products for the defence, space, mining and infrastructure industries. It also undertakes operation and maintenance (O&amp;M) services of solid propellant plants at the Sriharikota Centre of ISRO and Solid Fuel Complex at Jagdalpur under the umbrella of DRDO.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-197180945\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>With a market capitalization of \u20b9 870 crores, Premier Explosives is a small-cap company. It has a low return on equity of 3.60 percent but an ideal debt-to-equity ratio of 0.43. Its shares were trading at a price-to-earnings ratio (P\/E) of 125.97, which is substantially higher than the industry P\/E of 16.14, indicating that the stock might be overvalued as compared to its peers.&nbsp;<\/p><p>Its shareholding pattern shows that its promoters hold a 55.08 percent stake in it, followed by promoters with 41.33 percent, mutual funds with 3.42 percent and foreign institutions with 0.17 percent.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3128912431\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>A small-cap defence stock vaulted 10 percent by the closing bell on Wednesday and got locked in an upper circuit after it reported stellar results for the first quarter of the financial year 2023-24 (Q1FY24).&nbsp; Shares of Premier Explosives were locked at \u20b9 889.55 apiece in a 10 percent upper circuit after it reported a [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":104612,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[9816,9815,948,936,9909],"class_list":["post-105423","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-premier-explosives-latest-news","tag-premier-explosives-share-price","tag-stock-market","tag-stock-market-news","tag-why-is-premier-explosives-share-going-up"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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