Premier Explosives Ltd

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

Premier Explosives Ltd

₹ 320 -2.29%
12 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 ₹ 1,719 Cr.
  • Current Price ₹ 320
  • High / Low ₹ 909 / 263
  • Stock P/E 54.2
  • Book Value ₹ 43.8
  • Dividend Yield 0.15 %
  • ROCE 18.2 %
  • ROE 13.7 %
  • Face Value ₹ 2.00
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Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 20.3% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 22.1%
  • Company's working capital requirements have reduced from 136 days to 94.5 days

Cons

  • Stock is trading at 7.31 times its book value
  • Company has a low return on equity of 6.85% 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024
50.81 60.45 51.77 60.64 37.30 52.32 61.95 78.42 44.56 86.79 82.86 94.60 165.92
46.41 56.66 45.98 53.44 32.61 44.11 45.29 56.55 39.68 71.70 67.36 77.97 150.47
Operating Profit 4.40 3.79 5.79 7.20 4.69 8.21 16.66 21.87 4.88 15.09 15.50 16.63 15.45
OPM % 8.66% 6.27% 11.18% 11.87% 12.57% 15.69% 26.89% 27.89% 10.95% 17.39% 18.71% 17.58% 9.31%
0.78 0.71 0.45 0.80 0.78 0.14 0.30 0.41 2.88 0.56 1.17 1.06 0.22
Interest 1.72 1.94 2.06 1.98 2.14 2.73 2.81 3.26 2.26 2.18 3.18 2.54 3.99
Depreciation 2.31 2.27 2.37 2.40 2.58 2.47 2.70 2.79 3.06 2.97 2.81 2.87 2.87
Profit before tax 1.15 0.29 1.81 3.62 0.75 3.15 11.45 16.23 2.44 10.50 10.68 12.28 8.81
Tax % 46.96% 62.07% 28.73% 28.18% 14.67% 22.54% 27.86% 28.16% 29.51% 35.43% 31.46% 31.35% -4.88%
0.61 0.11 1.30 2.60 0.64 2.43 8.26 11.66 1.72 6.78 7.33 8.43 9.23
EPS in Rs 0.11 0.06 0.24 0.48 0.12 0.45 1.53 2.17 0.32 1.25 1.36 1.57 1.71
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 TTM
185 238 275 253 165 154 199 202 272 430
167 208 255 230 170 147 178 176 213 368
Operating Profit 18 30 20 23 -5 6 21 26 58 63
OPM % 10% 12% 7% 9% -3% 4% 11% 13% 22% 15%
-2 1 2 3 1 -8 3 2 4 3
Interest 4 4 5 6 6 7 7 9 10 12
Depreciation 3 4 4 4 5 6 10 10 12 12
Profit before tax 8 23 13 16 -15 -15 7 9 41 42
Tax % 32% 31% 37% 29% -33% -28% 25% 25% 30%
6 16 8 11 -10 -11 5 7 28 32
EPS in Rs 1.28 3.55 1.53 2.11 -1.85 -2.03 0.99 1.28 5.27 5.89
Dividend Payout % 31% 17% 33% 26% 0% 0% 30% 26% 9%
Compounded Sales Growth
10 Years: %
5 Years: 1%
3 Years: 21%
TTM: 81%
Compounded Profit Growth
10 Years: %
5 Years: 20%
3 Years: 157%
TTM: 32%
Stock Price CAGR
10 Years: 21%
5 Years: 80%
3 Years: 72%
1 Year: 17%
Return on Equity
10 Years: %
5 Years: 3%
3 Years: 7%
Last Year: 14%

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 Sep 2024
Equity Capital 9 9 11 11 11 11 11 11 11 11
Reserves 57 116 188 199 186 174 179 184 209 225
23 38 46 28 58 58 78 83 61 91
41 56 64 61 53 51 54 78 160 187
Total Liabilities 130 220 309 299 307 294 322 356 442 514
39 104 105 117 116 184 180 189 200 199
CWIP 2 4 16 35 62 2 4 2 3 2
Investments 5 0 0 0 0 0 0 0 0 0
83 112 188 147 130 108 138 165 238 313
Total Assets 130 220 309 299 307 294 322 356 442 514

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
10 -7 -24 50 -6 10 -2 21 79
-4 -9 -46 -26 -14 -4 -11 -16 -25
-3 14 71 -24 20 -7 13 -6 -34
Net Cash Flow 3 -3 1 0 -0 -1 -0 -0 20

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
Debtor Days 84 86 130 94 106 109 131 97 98
Inventory Days 80 102 84 84 180 182 142 335 290
Days Payable 43 38 48 64 81 84 79 66 51
Cash Conversion Cycle 121 150 166 114 205 207 193 365 336
Working Capital Days 70 97 125 87 139 131 150 164 94
ROCE % 22% 9% 9% -4% 0% 5% 7% 18%

Shareholding Pattern

Numbers in percentages

2 Recently
Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024
41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33% 41.33%
0.28% 0.19% 0.28% 0.27% 0.17% 0.26% 0.45% 0.32% 0.27% 0.62% 0.36% 0.39%
3.46% 3.37% 3.35% 3.36% 3.42% 3.31% 7.61% 9.27% 10.27% 9.43% 8.37% 8.20%
54.93% 55.11% 55.03% 55.04% 55.08% 55.08% 50.61% 49.08% 48.11% 48.60% 49.93% 50.08%
No. of Shareholders 9,3119,1049,61210,3509,99111,18820,51524,06024,93363,79480,39883,708

* 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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