The defense explosives maker on Friday (9 October) said it received a Rs 82.83 crore order from state-run Singareni Collieries Company in Telangana for supplying SMS/SME explosives and accessories.
As per the order, Premier Explosives will supply of SMS/SME explosives and accessories (cast booster, detonating fuse, cord relay, nonel and CED 2.0M detonator). The order is to be executed within two year from October 2020.Premier Explosives is engaged in the business of high energy materials (commercial explosives and defense explosives).
On a consolidated basis, Premier Explosives reported net loss of Rs 2.42 crore in Q1 June 2020 compared with net profit of Rs 0.68 crore in Q1 June 2019. Consolidated net sales slumped 56.3% to Rs 23.08 crore in Q1 June 2020 over Q1 June 2019.
Shares of Premier Explosives hit an upper circuit of 5% at Rs 118.9 on Friday.
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