Premier Explosives Ltd

Prem. Explosives Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Premier Explosives Ltd

₹ 480 -1.95%
11 Mar 4:01 p.m.
pelgel.com BSE: 526247 NSE: PREMEXPLN
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

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]

Website BSE NSE
  • Market Cap ₹ 2,583 Cr.
  • Current Price ₹ 480
  • High / Low ₹ 684 / 309
  • Stock P/E 55.0
  • Book Value ₹ 51.3
  • Dividend Yield 0.10 %
  • ROCE 17.0 %
  • ROE 12.3 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 37.1% CAGR over last 5 years
  • Debtor days have improved from 76.0 to 33.3 days.

Cons

  • Stock is trading at 9.51 times its book value
  • Company has a low return on equity of 10.2% over last 3 years.
  • Earnings include an other income of Rs.24.7 Cr.

* 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

Commodities Chemicals Chemicals & Petrochemicals Explosives

Part of BSE Allcap BSE Commodities

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
37.30 52.32 61.95 78.42 44.56 86.79 82.86 94.60 165.92 74.08 142.15 75.58 81.41
32.61 44.11 45.29 56.55 39.68 71.70 67.36 77.97 150.47 64.52 121.28 69.09 69.76
Operating Profit 4.69 8.21 16.66 21.87 4.88 15.09 15.50 16.63 15.45 9.56 20.87 6.49 11.65
OPM % 12.57% 15.69% 26.89% 27.89% 10.95% 17.39% 18.71% 17.58% 9.31% 12.90% 14.68% 8.59% 14.31%
0.78 0.14 0.30 0.41 2.88 0.56 1.17 1.06 0.22 0.51 1.89 21.87 0.43
Interest 2.14 2.73 2.81 3.26 2.26 2.18 3.18 2.54 3.99 1.11 1.02 0.73 0.91
Depreciation 2.58 2.47 2.70 2.79 3.06 2.97 2.81 2.87 2.87 2.93 2.92 2.93 3.02
Profit before tax 0.75 3.15 11.45 16.23 2.44 10.50 10.68 12.28 8.81 6.03 18.82 24.70 8.15
Tax % 14.67% 22.54% 27.86% 28.16% 29.51% 35.43% 31.46% 31.35% -4.88% 37.81% 18.44% 27.94% 25.28%
0.64 2.43 8.26 11.66 1.72 6.78 7.33 8.43 9.23 3.75 15.36 17.80 6.09
EPS in Rs 0.12 0.45 1.53 2.17 0.32 1.25 1.36 1.57 1.71 0.70 2.86 3.31 1.13
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
185 238 275 253 165 152 199 202 272 417 373
167 208 255 230 170 146 178 176 213 359 325
Operating Profit 18 30 20 23 -5 7 21 26 58 58 49
OPM % 10% 12% 7% 9% -3% 4% 11% 13% 22% 14% 13%
-2 1 2 3 1 -8 3 2 4 2 25
Interest 4 4 5 6 6 7 7 9 10 11 4
Depreciation 3 4 4 4 5 6 10 10 12 11 12
Profit before tax 8 23 13 16 -15 -15 7 9 41 38 58
Tax % 32% 31% 37% 29% -33% -28% 25% 25% 30% 24%
6 16 8 11 -10 -11 5 7 28 29 43
EPS in Rs 1.28 3.55 1.53 2.11 -1.85 -2.03 0.99 1.28 5.27 5.34 8.00
Dividend Payout % 31% 17% 33% 26% 0% 0% 30% 26% 9% 2%
Compounded Sales Growth
10 Years: %
5 Years: 20%
3 Years: 28%
TTM: -13%
Compounded Profit Growth
10 Years: %
5 Years: 37%
3 Years: 83%
TTM: 48%
Stock Price CAGR
10 Years: 22%
5 Years: 73%
3 Years: 85%
1 Year: 50%
Return on Equity
10 Years: 6%
5 Years: 7%
3 Years: 10%
Last Year: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Sep 2025
Equity Capital 9 9 11 11 11 11 11 11 11 11 11
Reserves 57 116 188 199 186 174 179 184 209 235 265
23 38 46 28 58 58 78 83 61 41 28
41 56 64 61 53 51 54 78 160 242 195
Total Liabilities 130 220 309 299 307 294 322 356 442 528 499
39 104 105 117 116 184 180 189 200 200 188
CWIP 2 4 16 35 62 2 4 2 3 3 8
Investments 5 0 0 0 0 0 0 0 0 0 0
83 112 188 147 130 108 138 165 238 326 302
Total Assets 130 220 309 299 307 294 322 356 442 528 499

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
10 -7 -24 50 -6 10 -2 21 79 118
-4 -9 -46 -26 -14 -4 -11 -16 -25 -11
-3 14 71 -24 20 -7 13 -6 -34 -34
Net Cash Flow 3 -3 1 0 -0 -1 -0 -0 20 73

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 84 86 130 94 106 103 131 97 98 33
Inventory Days 80 102 84 84 180 182 142 335 290 235
Days Payable 43 38 48 64 81 84 79 66 51 178
Cash Conversion Cycle 121 150 166 114 205 202 193 365 336 90
Working Capital Days 27 49 77 61 25 17 16 18 29 -27
ROCE % 22% 9% 9% -4% 0% 5% 7% 18% 17%

Insights

In beta
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Bulk Explosives Production
Tonnes ・Standalone data

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Detonators Production
Million Pieces ・Standalone data
Order Book
INR Million ・Standalone data
Installed Capacity - Bulk Explosives
Tonnes ・Standalone data
Installed Capacity - Detonators
Million Pieces ・Standalone data
R&D Expenditure (Percentage of Turnover)
% ・Standalone data

Shareholding Pattern

Numbers in percentages

2 Recently
Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33%
0.17% 0.26% 0.45% 0.32% 0.27% 0.62% 0.36% 0.39% 0.73% 0.72% 1.06% 0.91%
3.42% 3.31% 7.61% 9.27% 10.27% 9.43% 8.37% 8.20% 8.03% 7.66% 9.06% 9.23%
55.08% 55.08% 50.61% 49.08% 48.11% 48.60% 49.93% 50.08% 49.91% 50.30% 48.55% 48.54%
No. of Shareholders 9,99111,18820,51524,06024,93363,79480,39883,70883,95196,99596,04595,404

* 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.

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