Premier Explosives Ltd

NSE: PREMEXPLN BSE: 526247

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]

₹530

52W: ₹378 — ₹684

PE 60.8 · Book ₹51.3 · +933% vs book

Market Cap₹2,849 Cr

Stock P/E60.8Price to Earnings

ROCE16.9%Return on Capital

ROE12.2%Return on Equity

Div. Yield0.1%Face Value ₹2

Strengths

+Company has reduced debt.
+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.

Weaknesses

−Stock is trading at 10.0 times its book value
−Company has a low return on equity of 10.1% over last 3 years.
−Earnings include an other income of Rs.24.7 Cr.

Shareholding Pattern

Promoters41.33%

FIIs1.18%

DIIs9.17%

Public48.33%

Category	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	41.33%	41.33%	41.33%	41.33%	41.33%	41.33%	41.33%	41.33%
FIIs	0.62%	0.36%▼0.3	0.39%▲0.0	0.73%▲0.3	0.72%▼0.0	1.06%▲0.3	0.91%▼0.2	1.18%▲0.3
DIIs	9.43%	8.37%▼1.1	8.2%▼0.2	8.03%▼0.2	7.66%▼0.4	9.06%▲1.4	9.23%▲0.2	9.17%▼0.1
Public	48.6%	49.93%▲1.3	50.08%▲0.1	49.91%▼0.2	50.3%▲0.4	48.55%▼1.8	48.54%▼0.0	48.33%▼0.2

Financial Statements

Metric	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	78.42	44.56	86.79	82.86	94.6	165.92	74.08	142.15	75.58	81.41
Expenses	56.55	39.67	71.7	67.35	77.96	150.47	64.52	121.27	68.98	69.76
Operating Profit	21.87	4.89	15.09	15.51	16.64	15.45	9.56	20.88	6.6	11.65
OPM %	27.89%	10.97%	17.39%	18.72%	17.59%	9.31%	12.9%	14.69%	8.73%	14.31%
Net Profit	11.61	1.67	6.63	7.28	8.39	9.19	3.7	15.32	17.87	6.04
EPS ₹	2.16	0.31	1.23	1.35	1.56	1.71	0.69	2.85	3.32	1.12

AI Insights

Revenue Trend

TTM revenue at ₹373Cr, down 10.6% YoY. OPM at 13%.

Debt Position

Borrowings at ₹32Cr. Debt-to-equity ratio: 0.12x. Healthy balance sheet.

Capex Cycle

CWIP at ₹8Cr (4% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 9.17% (+5.86pp change). FIIs: 1.18% (+0.92pp change). Promoters hold 41.33%.

Margin & Efficiency

ROCE declining from 24% (Mar 2014) to 17% (Mar 2025). Working capital days: -31.

Valuation

PE 60.8x with 16.9% ROCE. Price is 933% above book value of ₹51.3. Dividend yield: 0.1%.