PREMEXPLN - Premier Explosives Ltd. Share Price

Chemicals & Petrochemicals

₹410.75-5.45(-1.31%)

Market Closed as of May 2, 2025, 15:30 IST

What does Premier Explosives Ltd. do?

Explosives•Chemicals•Small Cap

Premier Explosives Limited manufactures and sells high energy materials and allied products in India and internationally. The company offers bulk and packaged explosives, detonators, detonating fuses, solid propellants, pyrogen igniters and initiators, pyro devices, blazer plates, war heads, ammunition, cast and emulsion boosters, chaffs, IR flares, fully assembled rocket motors, high explosive charges, explosive bolts, pyro actuators, smoke markers, and cable cutters. It also operates and maintains solid propellant plants for defense and space establishments. Its products are used in the mining, infrastructure, defense, space, homeland security, and other areas. The company markets its products through consignment agents, dealers, and handling agents. Premier Explosives Limited was incorporated in 1980 and is based in Secunderabad, India.

Industry Group:Chemicals & Petrochemicals

Employees:841

Website:www.pelgel.com

Summary of Latest Earnings Report from Premier Explosives

Summary of Premier Explosives's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Earnings Outlook

Last updated: Feb 25

The management of Premier Explosives Limited provided a positive outlook, emphasizing strong growth driven by defense and space sectors. Key highlights include:

Record Performance: Q3 FY25 revenue surged 272% YoY to Rs.165.9 crore, driven by defense orders. Net profit rose to Rs.9.2 crore (vs. Rs.1.7 crore YoY).
Order Book: Outstanding orders at Rs.739 crore (2.7x FY24 revenue), with defense contributing Rs.575 crore. Expect larger orders from MoD, Indian defense firms, and international clients.
Strategic Moves: Signed an MoU with Global Munition Limited for defense munition production. Capex of Rs.864 crore planned in Odisha for a defense explosives plant over three phases.
Growth Drivers: Focus on countermeasures, rocket motors, mines, and ammunition under the Atmanirbhar Bharat initiative. Received orders for Brahmos rocket motors (Rs.26.5 crore) and export rocket development (Rs.20 crore), with bulk production expected in FY26.
Margins & Cash Flow: EBITDA margins guided at 15"“20%, though Q3 margins dipped to 9.3% due to provisions for delays from a plant accident. Healthy cash profit of Rs.12.1 crore in Q3.
Expansion: RDX/HMX plant expansion (targeting Rs.100"“150 crore revenue in FY26) and capacity enhancement for raw materials.
Outlook: FY25 revenue expected at Rs.400"“500 crore, rising to Rs.500"“550 crore in FY26. Emphasis on domestic defense demand and export opportunities in ammunition, mines, and rocket systems.
Management remains confident in leveraging government policies and niche capabilities in energetic materials to sustain growth.

Q&A Session

Last updated: Feb 25

Question: What is the revenue growth target for FY '25 and the next year, and are we on track?
Answer: The target for FY '25 remains INR 400"“500 crores, with no upward revision. Next year's growth is expected to reach INR 500"“550 crores, driven by a strong order book and execution momentum.

Question: Why were Q3 margins lower (~9.3%) compared to the guided range of 15"“20%?
Answer: Margins dipped due to provisions for potential liquidated damages (LD) linked to delayed deliveries caused by a production accident. The company is seeking LD waiver under force majeure, hoping to reverse provisions if approved.

Question: What is the status of the chaffs and flares order execution, and when will it be completed?
Answer: Half the order (INR 480 crores) was delayed due to an accident. The remaining INR 200 crores is expected to be executed by December 2025, shifting from the earlier July 2025 target.

Question: How will the INR 864-crore Odisha plant capex be funded?
Answer: The capex will be funded via internal accruals and a QIP. The investment is spread over three phases, with land acquisition starting in Q1 FY26.

Question: What is the revenue potential of the RDX/HMX plant expansion?
Answer: The expanded RDX/HMX plant, operational by mid-2025, is projected to generate INR 100"“150 crores annually, catering to domestic and international demand for raw materials.

Question: What are the growth drivers for FY26 revenue?
Answer: Key drivers include export orders, chaffs/flares execution, mine production, and new rocket motor orders. Bulk explosives for Coal India may also contribute post-RFP finalization.

Question: What is the update on grenades and ammunition orders?
Answer: The company is qualified for 40mm grenade production and awaits RFPs from the Ministry of Defence (MoD). Competitors include MIL and HBL, with orders likely to materialize in FY26 or later.

Question: How much LD provision was booked in Q3?
Answer: INR 25 crores was provisioned in Q3, with cumulative provisions at INR 35 crores. Reversal depends on MoD's approval of force majeure claims post-order completion.

Question: What is the revenue contribution from Akash missile components for potential Philippines orders?
Answer: Premier supplies booster/sustainer grains and initiators, contributing ~10"“15% of missile value. Orders depend on BDL's procurement process, with no exclusivity guaranteed.

Question: What is the outlook for repeat chaffs/flares orders?
Answer: Post-emergency procurement, annual orders may settle at ~1/3 of the initial INR 630-crore volume, reflecting routine replenishment needs.

Question: How does Premier's growth align with India's defence budget expansion?
Answer: Premier focuses on niche energetic materials (5"“15% of missile value), not large platforms. Growth is tied to component demand, not overall defence budget trends.

The Good, Bad and Ugly

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Category	PREMEXPLN	Chemicals
PE	70.35	56.55
PS	5.16	3.51
Growth	79.8 %	5.6 %

Shareholder Name	Holding %
AMARNATH GUPTA	24.37%
KAILASH GUPTA	10.86%
HDFC MUTUAL FUND - HDFC DEFENCE FUND	8.02%
AMARNATH GUPTA HUF	6.11%
EMERALD COMPANY PRIVATE LIMITED	1.39%
AKURDI TRADING COMPANY	1.28%
ATIM KABRA	1.25%
MOUNT INTRA FINANCE PRIVATE LIMITED	1.16%

Balance Sheet for Premier Explosives

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	-104.8%	0.08	20	13	0.36	0.36	0.42
Loans, current	0%	0.04	0.04	0.04	0.04	0.04	0.04
Total current financial assets	26.7%	129	102	134	61	85	75
Inventories	74.7%	153	88	79	80	50	38
Total current assets	30.8%	307	235	231	157	148	124
Property, plant and equipment	-0.5%	190	191	191	182	170	172
Capital work-in-progress	-39.7%	2.26	3.09	1.18	1.81	8.81	3.7
Investment property	0%	0.08	0.08	0.08	0.08	0.08	0.08
Non-current investments	0%	5.21	5.21	5.21	5.21	5.31	5.31
Total non-current financial assets	0%	5.21	5.21	6.26	5.96	8.93	5.31
Total non-current assets	-0.5%	209	210	212	202	202	200
Total assets	16%	516	445	443	359	350	323
Borrowings, non-current	-18.2%	10	12	14	2.29	3.68	5.08
Total non-current financial liabilities	-25%	10	13	14	2.38	3.77	5.17
Provisions, non-current	-	11	0	8.1	7.01	6.25	5.33
Total non-current liabilities	2.9%	37	36	34	18	18	17
Borrowings, current	61.5%	85	53	46	85	101	75
Total current financial liabilities	86.4%	152	82	88	112	132	106
Provisions, current	0%	1.54	1.54	1.34	1.34	1.8	1.8
Current tax liabilities	-99%	1.04	5.05	4.31	0.09	0.09	0.09
Total current liabilities	29.4%	243	188	196	146	140	116
Total liabilities	25.1%	280	224	230	164	158	133
Equity share capital	0%	11	11	11	11	11	11
Total equity	7.3%	236	220	213	195	192	190
Total equity and liabilities	16%	516	445	443	359	350	323

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	-104.7%	0.11	20	13	0.37	0.37	0.5
Total current financial assets	26.7%	129	102	136	63	85	77
Inventories	74.7%	153	88	79	80	50	38
Current tax assets	-	0	0	0	-	0.1	0.1
Total current assets	30.8%	307	235	233	159	149	125
Property, plant and equipment	-0.5%	192	193	191	182	170	172
Capital work-in-progress	-39.7%	2.26	3.09	1.18	1.81	8.81	3.7
Investment property	0%	0.08	0.08	0.08	0.08	0.08	0.08
Total non-current financial assets	-	0.04	0	1.09	1.45	3.63	0.76
Total non-current assets	-0.5%	206	207	207	197	197	195
Total assets	16.3%	514	442	440	356	347	322
Borrowings, non-current	-18.2%	10	12	14	2.29	3.68	5.08
Total non-current financial liabilities	-25%	10	13	14	2.38	3.78	5.17
Provisions, non-current	13.1%	11	9.84	8.1	7.01	6.25	5.33
Total non-current liabilities	5.7%	38	36	34	18	18	17
Borrowings, current	66.7%	81	49	42	81	96	73
Total current financial liabilities	90.9%	148	78	84	108	128	103
Provisions, current	0%	1.54	1.54	1.34	1.34	1.8	1.8
Current tax liabilities	-99%	1.04	5.05	4.31	0.09	0.09	0.09
Total current liabilities	30.1%	239	184	192	142	136	114
Total liabilities	26%	277	220	227	160	155	131
Equity share capital	0%	11	11	11	11	11	11
Non controlling interest	3.1%	1.33	1.32	1.27	1.25	1.22	1.2
Total equity	7.3%	237	221	214	196	193	191
Total equity and liabilities	16.3%	514	442	440	356	347	322

Cash Flow for Premier Explosives

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	22.1%	11	9.19	7.51
Change in inventories	78.8%	-8.13	-42.04	-0.98
Depreciation	24.7%	12	9.82	9.37
Unrealised forex losses/gains	-9.5%	-0.15	-0.05	-0.18
Adjustments for interest income	-53.3%	0.54	0.7	-0.49
Net Cashflows from Operations	364.7%	80	18	0.88
Income taxes paid (refund)	94.5%	0.84	-1.91	0.68
Net Cashflows From Operating Activities	310.5%	79	20	0.2
Proceeds from sales of PPE	-39.4%	0.01	0.29	0.18
Purchase of property, plant and equipment	69.2%	23	14	14
Interest received	-76.7%	0.47	0.7	1.14
Other inflows (outflows) of cash	-1.5%	-2.4	-2.35	0
Net Cashflows From Investing Activities	-57.3%	-25.07	-15.57	-12.77
Proceeds from borrowings	-537.5%	-36.19	9.5	20
Repayments of borrowings	-977.7%	-14.71	2.79	0
Dividends paid	36.1%	1.83	1.61	0
Other inflows (outflows) of cash	-15.9%	-10.82	-9.2	-7.53
Net Cashflows from Financing Activities	-588.8%	-34.13	-4.1	12
Net change in cash and cash eq.	1875.7%	20	-0.07	-0.48

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	13.6%	10	8.92	7.26
Change in inventories	78.8%	-8.13	-42.04	-0.98
Depreciation	24.7%	12	9.82	9.5
Unrealised forex losses/gains	-9.5%	-0.15	-0.05	-0.18
Adjustments for interest income	-56.7%	0.53	0.7	0.49
Net Cashflows from Operations	338.9%	80	19	-1.44
Income taxes paid (refund)	94.6%	0.84	-1.99	0.72
Net Cashflows From Operating Activities	290%	79	21	-2.15
Proceeds from sales of PPE	-39.4%	0.01	0.29	2.11
Purchase of property, plant and equipment	69.2%	23	14	14
Interest received	-251.4%	0.47	1.35	1.14
Other inflows (outflows) of cash	15.5%	-2.38	-3	0
Net Cashflows From Investing Activities	-57.7%	-25.29	-15.67	-10.85
Proceeds from borrowings	-881.3%	-36.19	-2.79	20
Repayments of borrowings	-78.1%	-14.71	-7.82	0
Dividends paid	36.1%	1.83	1.61	0
Interest paid	-112.5%	0	9	7.35
Other inflows (outflows) of cash	-	-10.53	0	0
Net Cashflows from Financing Activities	-430.3%	-33.84	-5.57	13
Net change in cash and cash eq.	1781.4%	20	-0.13	-0.42

Income Statement for Premier Explosives

Standalone figures (in Rs. Crores) / View Consolidated Data

AnnualQuarterly

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	34.8%	272	202	199	152	157	241
Other Income	162.9%	4.05	2.16	1.9	0.87	1.4	2.59
Total Income	35.5%	276	204	201	153	158	244
Cost of Materials	-6.5%	101	108	94	70	91	130
Purchases of stock-in-trade	-78.6%	2.28	6.97	1.66	3.23	2.67	4.01
Employee Expense	12%	57	51	46	47	49	47
Finance costs	22.1%	11	9.19	7.51	7.35	5.77	5.52
Depreciation and Amortization	24.7%	12	9.82	9.37	5.97	4.97	4.19
Other expenses	18.9%	45	38	33	24	32	31
Total Expenses	21.1%	236	195	194	159	172	227
Profit Before exceptional items and Tax	389.9%	40	8.96	7.3	-5.81	-14.51	16
Exceptional items before tax	-	0	0	0	-9.08	0	0
Total profit before tax	389.9%	40	8.96	7.3	-14.89	-14.51	16
Current tax	1757.6%	6.47	0.67	-0.26	-0.32	0	4.03
Deferred tax	676.7%	5.66	1.6	1.94	-3.83	-4.93	0.56
Total tax	766.1%	12	2.27	1.68	-4.15	-4.93	4.59
Total profit (loss) for period	375.4%	28	6.68	5.62	-10.74	-9.58	12
Other comp. income net of taxes	-98.1%	-1.08	-0.05	-0.6	-0.71	0.18	-0.81
Total Comprehensive Income	361.8%	27	6.63	5.02	-11.46	-9.41	11
Earnings Per Share, Basic	1633.6%	5.23	1.244	1.046	-1.998	-1.782	2.2
Earnings Per Share, Diluted	1633.6%	5.23	1.244	1.046	-1.998	-1.782	2.2

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	75.5%	166	95	83	87	45	78
Other Income	-1400%	0.22	1.06	1.17	0.46	2.88	0.41
Total Income	73.7%	166	96	84	87	47	79
Cost of Materials	65.1%	105	64	30	32	19	21
Purchases of stock-in-trade	64.4%	0.69	0.13	0.22	0.62	0.56	0.64
Employee Expense	0%	15	15	15	15	14	15
Finance costs	90.1%	4.06	2.61	3.25	2.25	2.33	3.33
Depreciation and Amortization	0%	2.87	2.87	2.81	2.97	3.06	2.79
Other expenses	27.3%	15	12	18	14	12	12
Total Expenses	90.2%	157	83	73	77	45	63
Profit Before exceptional items and Tax	-29.6%	8.74	12	11	10	2.38	16
Total profit before tax	-29.6%	8.74	12	11	10	2.38	16
Current tax	-54.1%	1.5	2.09	1.81	1.87	0.38	2.48
Deferred tax	-497.3%	-1.94	1.74	1.53	1.83	0.33	2.07
Total tax	-150.9%	-0.44	3.83	3.34	3.7	0.71	4.55
Total profit (loss) for period	10.8%	9.19	8.39	7.28	6.63	1.67	12
Other comp. income net of taxes	0%	-0.2	-0.2	-0.2	-0.55	-0.17	-0.18
Total Comprehensive Income	11.1%	8.99	8.19	7.08	6.08	1.5	11
Earnings Per Share, Basic	26.8%	1.71	1.56	1.35	1.232	0.312	2.158
Earnings Per Share, Diluted	26.8%	1.71	1.56	1.35	1.232	0.312	2.158

Consolidated figures (in Rs. Crores) / View Standalone Data

AnnualQuarterly

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	34.8%	272	202	199	152	165	253
Other Income	169.2%	4.15	2.17	2.82	0.93	1.46	2.65
Total Income	35.5%	276	204	202	153	166	256
Cost of Materials	-6.5%	101	108	94	70	96	138
Purchases of stock-in-trade	-78.6%	2.28	6.97	1.66	3.23	2.67	4.01
Employee Expense	12%	57	51	46	48	50	48
Finance costs	13.6%	10	8.92	7.26	7.05	5.75	5.58
Depreciation and Amortization	24.7%	12	9.82	9.5	6.27	5.27	4.49
Other expenses	18.9%	45	38	34	25	35	35
Total Expenses	20.6%	235	195	195	159	181	240
Profit Before exceptional items and Tax	379.6%	41	9.34	6.99	-6.07	-15.01	16
Exceptional items before tax	2%	0	-0.02	0	-9.08	0	0
Total profit before tax	380.8%	41	9.32	6.99	-15.15	-15.01	16
Current tax	1809.4%	6.47	0.68	-0.26	-0.32	0.01	4.03
Deferred tax	606%	5.73	1.67	2.03	-3.87	-5	0.51
Total tax	708.8%	12	2.36	1.77	-4.19	-4.99	4.54
Total profit (loss) for period	352.3%	28	6.97	5.22	-10.96	-10.03	11
Other comp. income net of taxes	-98.1%	-1.08	-0.05	-0.6	-0.71	0.14	-0.81
Total Comprehensive Income	339.2%	27	6.92	4.62	-11.67	-9.88	10
Earnings Per Share, Basic	1404.9%	5.274	1.284	0.986	-2.038	-1.864	2.114
Earnings Per Share, Diluted	1404.9%	5.274	1.284	0.986	-2.038	-1.864	2.114

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	75.5%	166	95	83	87	45	78
Other Income	-1400%	0.22	1.06	1.17	0.56	2.88	0.41
Total Income	73.7%	166	96	84	87	47	79
Cost of Materials	65.1%	105	64	30	32	19	21
Purchases of stock-in-trade	64.4%	0.69	0.13	0.22	0.62	0.56	0.64
Employee Expense	0%	15	15	15	15	14	15
Finance costs	94.2%	3.99	2.54	3.18	2.18	2.26	3.26
Depreciation and Amortization	0%	2.87	2.87	2.81	2.97	3.06	2.79
Other expenses	27.3%	15	12	18	14	12	12
Total Expenses	90.2%	157	83	73	77	45	63
Profit Before exceptional items and Tax	-29%	8.81	12	11	10	2.44	16
Total profit before tax	-29%	8.81	12	11	10	2.44	16
Current tax	-54.1%	1.5	2.09	1.81	1.87	0.38	2.48
Deferred tax	-485.5%	-1.93	1.76	1.55	1.85	0.34	2.09
Total tax	-150.2%	-0.43	3.85	3.36	3.72	0.72	4.57
Total profit (loss) for period	10.8%	9.23	8.43	7.33	6.78	1.72	12
Other comp. income net of taxes	0%	-0.2	-0.2	-0.2	-0.55	-0.17	-0.18
Total Comprehensive Income	11.2%	9.04	8.23	7.13	6.23	1.55	11
Earnings Per Share, Basic	24.6%	1.71	1.57	1.36	1.256	0.316	2.166
Earnings Per Share, Diluted	24.6%	1.71	1.57	1.36	1.256	0.316	2.166

Investor Care
Dividend Yield	0.25%
Dividend/Share (TTM)	0.84
Shares Dilution (1Y)	0.00%
Diluted EPS (TTM)	5.9

Financial Health
Current Ratio	1.29
Debt/Equity	0.39
Debt/Cashflow	1.28

Valuation
Market Cap	2.21 kCr
Price/Earnings (Trailing)	69.51
Price/Sales (Trailing)	5.1
EV/EBITDA	33.63
Price/Free Cashflow	41.07
MarketCap/EBT	52.24

Fundamentals
Revenue (TTM)	433.17 Cr
Rev. Growth (Yr)	250.23%
Rev. Growth (Qtr)	73.68%
Earnings (TTM)	31.77 Cr
Earnings Growth (Yr)	437.74%
Earnings Growth (Qtr)	9.56%

Profitability
Operating Margin	9.76%
EBT Margin	9.76%
Return on Equity	13.41%
Return on Assets	6.19%
Free Cashflow Yield	2.43%

PREMEXPLN - Premier Explosives Ltd. Share Price

What does Premier Explosives Ltd. do?

Summary of Latest Earnings Report from Premier Explosives

Sector Comparison: PREMEXPLN vs Chemicals & Petrochemicals

Comparative Metrics

Performance Comparison

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

Balance Sheet for Premier Explosives

Cash Flow for Premier Explosives

Income Statement for Premier Explosives

Investor Care

Financial Health

Valuation

Fundamentals

Profitability

Is Premier Explosives Better than it's peers?

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
HAL	Hindustan AeronauticsAerospace & Defense	3 LCr	34.52 kCr	+6.08%	+13.80%	34.55	8.7	+14.42%	+41.55%
SOLARINDS	Solar Industries IndiaExplosives	1.18 LCr	7.08 kCr	+16.62%	+47.06%	99.74	16.7	+10.13%	+38.85%
BDL	Bharat DynamicsAerospace & Defense	54.39 kCr	2.76 kCr	+15.03%	+50.85%	96.16	19.7	+5.24%	+18.66%
ASTRAMICRO	Astra Microwave ProductsAerospace & Defense	7.86 kCr	1.01 kCr	+21.34%	+20.17%	58.45	7.81	+22.26%	+67.64%
AVANTEL	AvantelAerospace & Defense	2.82 kCr	243.39 Cr	-0.47%	-	45.04	11.57	+3.05%	+24.78%