Premier Explosives Ltd

Premier Explosives Ltd

₹ 1,522 -0.46%
28 Mar - close price
About

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]

Key Points

Product Portfolio
Propellants: Pyrogen igniters, Case-bonded propellants, Freestanding grains, Fuel rich, Grains Gas generators, Strap-on motors for PSLV, etc.
Pyros: Pyro cartridges, Pyro actuators, Smoke/flash generators, etc.
Explosives: Bombs, Warheads ammunition, Mines, HMX / RDX, and their components, etc.
Counter Measures: Chaffs and Flares. [1]
It is the only Qualified Indian company for Countermeasures and the only Indian company which is into export of Fully assembled Rocket motors.[2]

  • Market Cap 1,636 Cr.
  • Current Price 1,522
  • High / Low 1,689 / 385
  • Stock P/E 68.7
  • Book Value 198
  • Dividend Yield 0.11 %
  • ROCE 6.72 %
  • ROE 3.64 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 18.7%

Cons

  • Stock is trading at 7.69 times its book value
  • The company has delivered a poor sales growth of -5.35% over past five years.
  • Company has a low return on equity of 1.92% over last 3 years.

* 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

Sector: Chemicals Industry: Chemicals

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
48.79 35.44 32.81 55.06 50.81 60.45 51.77 60.64 37.30 52.32 61.95 78.42 44.56
52.48 28.36 26.82 48.14 46.36 55.51 45.97 53.43 32.60 44.21 45.29 56.55 39.67
Operating Profit -3.69 7.08 5.99 6.92 4.45 4.94 5.80 7.21 4.70 8.11 16.66 21.87 4.89
OPM % -7.56% 19.98% 18.26% 12.57% 8.76% 8.17% 11.20% 11.89% 12.60% 15.50% 26.89% 27.89% 10.97%
0.13 0.42 0.06 0.40 0.78 0.66 0.45 0.80 0.78 0.13 0.30 0.41 2.88
Interest 2.03 1.85 1.86 1.87 1.79 2.00 2.11 2.07 2.22 2.80 2.88 3.33 2.33
Depreciation 1.28 2.19 2.42 2.41 2.29 2.26 2.37 2.40 2.58 2.47 2.70 2.79 3.06
Profit before tax -6.87 3.46 1.77 3.04 1.15 1.34 1.77 3.54 0.68 2.97 11.38 16.16 2.38
Tax % 24.16% 21.97% 28.25% 15.46% 47.83% 11.94% 29.38% 28.81% 16.18% 21.21% 27.86% 28.16% 29.83%
-5.21 2.70 1.27 2.57 0.61 1.18 1.26 2.51 0.58 2.34 8.21 11.61 1.67
EPS in Rs -4.85 2.51 1.18 2.39 0.57 1.10 1.17 2.33 0.54 2.18 7.64 10.80 1.55
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
108 109 145 149 185 230 266 241 157 153 199 202 237
92 100 128 137 167 201 246 217 161 147 177 176 186
Operating Profit 17 10 17 13 18 29 20 24 -5 7 22 26 52
OPM % 15% 9% 12% 8% 10% 13% 8% 10% -3% 4% 11% 13% 22%
3 2 1 1 -2 1 2 3 1 -8 2 2 4
Interest 1 2 2 2 4 4 5 6 6 7 8 9 11
Depreciation 2 2 2 3 3 3 4 4 5 6 9 10 11
Profit before tax 17 7 13 8 8 23 13 16 -15 -15 7 9 33
Tax % 28% 28% 29% 30% 32% 32% 35% 28% 34% 28% 23% 25%
12 5 9 5 6 15 9 12 -10 -11 6 7 24
EPS in Rs 14.69 6.57 11.02 6.01 6.41 17.45 8.21 10.91 -8.91 -9.99 5.23 6.21 22.17
Dividend Payout % 17% 38% 25% 33% 31% 17% 30% 25% 0% 0% 29% 27%
Compounded Sales Growth
10 Years: 6%
5 Years: -5%
3 Years: 9%
TTM: 13%
Compounded Profit Growth
10 Years: 2%
5 Years: -4%
3 Years: 40%
TTM: 331%
Stock Price CAGR
10 Years: 34%
5 Years: 44%
3 Years: 117%
1 Year: 299%
Return on Equity
10 Years: 4%
5 Years: 1%
3 Years: 2%
Last Year: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 8 8 8 9 9 9 11 11 11 11 11 11 11
Reserves 37 40 48 53 57 115 186 199 186 174 179 184 202
5 13 13 20 23 38 46 28 60 61 80 87 60
28 29 38 31 41 56 64 59 49 48 53 77 170
Total Liabilities 78 90 107 113 130 218 306 296 306 294 323 359 443
33 38 41 41 39 99 100 113 112 180 180 189 200
CWIP 1 1 2 0 2 4 16 35 62 2 4 2 1
Investments 0 5 5 5 5 5 5 5 5 5 5 5 5
43 46 59 67 83 110 185 143 128 107 134 162 237
Total Assets 78 90 107 113 130 218 306 296 306 294 323 359 443

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
10 1 6 -2 10 -6 -21 48 -9 11 0 20
-5 -8 -4 -3 -4 -10 -46 -25 -15 -4 -13 -16
-2 5 -3 5 -3 14 68 -23 23 -7 12 -4
Net Cash Flow 3 -3 -0 0 3 -3 1 -0 -0 -1 -0 -0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 52 58 74 81 84 88 133 98 110 106 129 97
Inventory Days 87 112 92 111 80 100 82 84 192 182 142 335
Days Payable 41 47 41 37 43 44 52 68 86 84 79 66
Cash Conversion Cycle 98 123 125 155 121 145 163 114 216 205 191 365
Working Capital Days 30 51 54 89 70 95 124 89 148 133 144 161
ROCE % 39% 17% 25% 13% 18% 22% 9% 9% -4% 1% 6% 7%

Shareholding Pattern

Numbers in percentages

2 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33%
0.65% 0.65% 0.49% 0.27% 0.28% 0.19% 0.28% 0.27% 0.17% 0.26% 0.45% 0.32%
3.46% 3.46% 3.46% 3.46% 3.46% 3.37% 3.35% 3.36% 3.42% 3.31% 7.61% 9.27%
54.56% 54.56% 54.71% 54.94% 54.93% 55.11% 55.03% 55.04% 55.08% 55.08% 50.61% 49.08%
No. of Shareholders 9,3869,7839,0949,5509,3119,1049,61210,3509,99111,18820,51524,060

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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