Premier Explosives said it has received license from Joint Chief Controller of Explosives, Secunderabad, for sight mixed emulsion manufacturing plant at Musthyala Village situated at Godavarikhani, Telangana State.
This new license will enable the company a substantial saving on transportation cost. The company has also received licenses for bulk storage of ammonium nitrate (solid) and ammonium nitrate (melt) at Musthyala Village, Godavarikhani, Telangana.
Premier Explosives is engaged in the business of high-energy materials (commercial explosives and defense explosives).
On a consolidated basis, Premier Explosives 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.
The scrip shed 0.68% to currently trade at Rs 334.70 on the BSE.
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