Premier Explosives hits the roof after order win

Premier Explosives was locked in an upper circuit of 5% at Rs 413.95 on NSE after the company won a contract with overseas entity for supply of rocket motors.

The order is worth $13.13 million (approx. Rs 100.40 crore) and is expected to be supplied within 18 months.

The scope of the order involves supply of rocket motors including items Sh-522 intended for R-22 aviation guided missiles with Igniter V-287. The R-22 is a light, two-place, single reciprocating-engine helicopter with a semi-rigid two-bladed main rotor and a two-bladed tail rotor.

Premier Explosives is engaged in manufacture of high energy materials like bulk explosives, packaged explosives, detonators, detonating fuse, solid propellants, pyrogen igniters, pyro devices, etc., having applications in mining, infrastructure, defence, space, homeland security and such other areas.

On a consolidated basis, the company reported a net profit of Rs 0.61 crore in Q3 FY22 as compared to a net loss of Rs 5.55 crore in Q3 FY21. Net sales rose 3.6% to Rs 50.62 crore in Q3 FY22 over Q3 FY21.

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