Premier Explosives Ltd
Premier Explosives Limited is engaged in the manufacturing of industrial explosives and detonators. It also undertakes operation and maintenance (O&M) services of solid
propellant plants at the Sriharikota Centre of ISRO and Solid Fuel Complex at Jagdalpur
under the umbrella of DRDO. [1]
- Market Cap ₹ 3,362 Cr.
- Current Price ₹ 625
- High / Low ₹ 909 / 309
- Stock P/E 118
- Book Value ₹ 45.7
- Dividend Yield 0.08 %
- ROCE 16.9 %
- ROE 12.2 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is expected to give good quarter
- Company has delivered good profit growth of 37.6% CAGR over last 5 years
- Debtor days have improved from 76.0 to 33.3 days.
Cons
- Stock is trading at 13.5 times its book value
- Company has a low return on equity of 10.1% over last 3 years.
- Company's cost of borrowing seems high
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
145 | 149 | 185 | 230 | 266 | 241 | 157 | 153 | 199 | 202 | 272 | 417 | |
128 | 137 | 167 | 201 | 246 | 217 | 161 | 147 | 177 | 176 | 213 | 359 | |
Operating Profit | 17 | 13 | 18 | 29 | 20 | 24 | -5 | 7 | 22 | 26 | 58 | 58 |
OPM % | 12% | 8% | 10% | 13% | 8% | 10% | -3% | 4% | 11% | 13% | 22% | 14% |
1 | 1 | -2 | 1 | 2 | 3 | 1 | -8 | 2 | 2 | 4 | 2 | |
Interest | 2 | 2 | 4 | 4 | 5 | 6 | 6 | 7 | 8 | 9 | 11 | 11 |
Depreciation | 2 | 3 | 3 | 3 | 4 | 4 | 5 | 6 | 9 | 10 | 12 | 11 |
Profit before tax | 13 | 8 | 8 | 23 | 13 | 16 | -15 | -15 | 7 | 9 | 40 | 38 |
Tax % | 29% | 30% | 32% | 32% | 35% | 28% | -34% | -28% | 23% | 25% | 30% | 24% |
9 | 5 | 6 | 15 | 9 | 12 | -10 | -11 | 6 | 7 | 28 | 29 | |
EPS in Rs | 2.20 | 1.20 | 1.28 | 3.49 | 1.64 | 2.18 | -1.78 | -2.00 | 1.04 | 1.24 | 5.23 | 5.31 |
Dividend Payout % | 25% | 33% | 31% | 17% | 30% | 25% | 0% | 0% | 29% | 27% | 10% | 9% |
Compounded Sales Growth | |
---|---|
10 Years: | 11% |
5 Years: | 22% |
3 Years: | 28% |
TTM: | 54% |
Compounded Profit Growth | |
---|---|
10 Years: | 18% |
5 Years: | 38% |
3 Years: | 72% |
TTM: | 2% |
Stock Price CAGR | |
---|---|
10 Years: | 29% |
5 Years: | 111% |
3 Years: | 113% |
1 Year: | 3% |
Return on Equity | |
---|---|
10 Years: | 6% |
5 Years: | 7% |
3 Years: | 10% |
Last Year: | 12% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 8 | 9 | 9 | 9 | 11 | 11 | 11 | 11 | 11 | 11 | 11 | 11 |
Reserves | 49 | 53 | 57 | 115 | 188 | 199 | 186 | 174 | 179 | 184 | 210 | 235 |
13 | 20 | 23 | 38 | 46 | 28 | 60 | 61 | 80 | 87 | 66 | 45 | |
37 | 31 | 41 | 56 | 62 | 59 | 49 | 48 | 53 | 77 | 159 | 240 | |
Total Liabilities | 107 | 113 | 130 | 218 | 306 | 296 | 306 | 294 | 323 | 359 | 445 | 531 |
41 | 41 | 39 | 99 | 100 | 113 | 112 | 180 | 180 | 189 | 198 | 198 | |
CWIP | 2 | 0 | 2 | 4 | 16 | 35 | 62 | 2 | 4 | 2 | 3 | 3 |
Investments | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 5 |
59 | 67 | 83 | 110 | 185 | 143 | 128 | 107 | 134 | 162 | 238 | 325 | |
Total Assets | 107 | 113 | 130 | 218 | 306 | 296 | 306 | 294 | 323 | 359 | 445 | 531 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
6 | -2 | 10 | -6 | -21 | 48 | -9 | 11 | 0 | 20 | 79 | 119 | |
-4 | -3 | -4 | -10 | -46 | -25 | -15 | -4 | -13 | -16 | -25 | -11 | |
-3 | 5 | -3 | 14 | 68 | -23 | 23 | -7 | 12 | -4 | -34 | -35 | |
Net Cash Flow | -0 | 0 | 3 | -3 | 1 | -0 | -0 | -1 | -0 | -0 | 20 | 73 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 74 | 81 | 84 | 88 | 133 | 98 | 110 | 106 | 129 | 97 | 98 | 33 |
Inventory Days | 92 | 111 | 80 | 100 | 82 | 84 | 192 | 182 | 142 | 335 | 290 | 235 |
Days Payable | 41 | 37 | 43 | 44 | 52 | 68 | 86 | 84 | 79 | 66 | 51 | 178 |
Cash Conversion Cycle | 125 | 155 | 121 | 145 | 163 | 114 | 216 | 205 | 191 | 365 | 336 | 90 |
Working Capital Days | 54 | 89 | 70 | 95 | 124 | 89 | 148 | 133 | 144 | 161 | 94 | 2 |
ROCE % | 24% | 13% | 18% | 22% | 9% | 9% | -4% | 1% | 6% | 7% | 18% | 17% |
Documents
Announcements
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Intimation
3 Jun - Telangana PCB revoked factory closure on June 2, 2025, after Rs.6.75 lakh compensation; production to resume.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
28 May - Annual Secretarial Compliance Report for FY 2025; minor fine for delayed director approval under appeal.
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 28 May
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
23 May - Audio recording of Q4 FY25 earnings call uploaded on Premier Explosives website.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
23 May - Newspaper publication of the Audited Financial Results (Standalone & Consolidated) for the quarter and year ended March 31, 2025
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Concalls
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT
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Jul 2024Transcript PPT REC
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Jun 2024Transcript PPT
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Jan 2024Transcript PPT
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Jan 2024TranscriptNotesPPT
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Nov 2023Transcript PPT
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Jul 2023Transcript PPT
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Jul 2023TranscriptNotesPPT
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May 2023Transcript PPT
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Oct 2022Transcript PPT
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Nov 2021Transcript PPT
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Oct 2020Transcript PPT
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Sep 2020Transcript PPT
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Jul 2020Transcript PPT
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Nov 2019Transcript PPT
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May 2019Transcript PPT
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Jan 2019Transcript PPT
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Nov 2018Transcript PPT
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Aug 2018Transcript PPT
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May 2018Transcript PPT
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Feb 2018Transcript PPT
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Dec 2017Transcript PPT
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Sep 2017Transcript PPT
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Jun 2017Transcript PPT
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Apr 2017TranscriptNotesPPT
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Feb 2017TranscriptPPT
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Nov 2016TranscriptPPT
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Aug 2016Transcript PPT
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May 2016TranscriptPPT
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Mar 2016TranscriptPPT
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Feb 2016Transcript PPT
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Nov 2015Transcript PPT
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Aug 2015TranscriptPPT
Business Segments
1) Defence & Space (84% in 9M FY25 vs 63% in FY22): [1] [2] The company manufactures Solid Propellants, Fully assembled Rocket Motors, High Explosive Charges, Chaffs and Flares, Pyro initiators, etc for the Defence & Space segment. Its key clients include Bharat Electronics, ASL, ISRO, Bharat Dynamics Ltd, etc. [3] It also undertakes operation and maintenance (O&M) services of solid propellant plants at the Sriharikota Centre of ISRO and Solid Fuel Complex at Jagdalpur under the umbrella of DRDO. It is India's first private manufacturer and Supplier of Solid Propellants and the only domestic manufacturer and supplier to the Indian Defence segment. [4]