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Premier Explosives Limited (PREMEXPLN)

₹691.40 +0.12% last close, 16 Oct

📊 NSE: PREMEXPLN 🏢 Chemicals 📢 Latest filing: 08 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Premier Explosives' revenue was ₹103 Cr (-27.8% year on year, +15.0% on the previous quarter), and net profit ₹3.1 Cr (-79.9% year on year); the operating margin was 5.7%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹103	-27.8%	+15.0%
Operating profit	₹5.9	-71.8%	from loss
Net profit	₹3.1	-79.9%	-53.3%
EPS (₹)	0.57	-80.1%	-53.3%
Operating margin	5.7%	—	—

Full quarterly financials → Results calendar →

PREMEXPLN delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 87.61% of the PREMEXPLN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 76.46%. Delivery was unusually high while the price barely moved (+0.12%).

87.61%Delivery, 16 Oct

76.46%Own 20-session average

0.8×Volume vs its average

₹691.40NSE close · +0.12%

Delivery in the last 5 sessions: 84.3% · 87.9% · 86.4% · 78.9% · 87.6%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Premier Explosives: Acquirer Issues Pre-Offer Advertisement & Corrigendum for Open Offer

🟡 NEUTRAL ⭐ 4/10

M&A 📅 08 Oct 2026, 04:32 PM

Premier Cumulative Capital Private Ltd has submitted a pre-offer advertisement and corrigendum to the Detailed Public Statement regarding an open offer to acquire shares of Premier Explosives Limited. The announcement was filed under Regulation 18(7) of SEBI (SAST) Regulations, 2011. Detailed open offer terms, including price and size, are referenced in the statutory advertisement. Investors should monitor the final offer letter for exact acquisition pricing and tendering schedules.

Pre-offer advertisement issued in terms of Regulation 18(7) of SEBI (SAST) Regulations, 2011
Submission made by acquirer Premier Cumulative Capital Private Ltd
Includes corrigendum to the previously issued Detailed Public Statement
Current company promoter holding stands at 41.33%

💡 Track the detailed letter of offer and schedule of activities for the open offer, specifically checking the offer price and acceptance ratio.

Apollo Micro Systems Launches Open Offer at ₹705.65/Share for 26% Stake in Premier Explosives

🔵 WATCH ⭐ 9/10

M&A 📅 02 Oct 2026, 11:49 AM

Premier Explosives announced the newspaper publication of the Independent Directors Committee recommendations regarding an open offer by Apollo Micro Systems. Apollo Micro Systems is offering to acquire up to 1,39,77,911 equity shares, representing 26.00% of Premier Explosives' share capital. The total offer price is ₹705.65 per equity share, consisting of a base price of ₹698.00 plus applicable interest of ₹7.65 per share. At the current market price of ₹682.00, the offer price represents a minor premium of approximately 3.5%.

Open offer to acquire up to 1,39,77,911 fully paid-up equity shares of face value ₹2 each
Acquisition represents 26.00% of the target company's total equity share capital
Offer price set at ₹698.00 per share plus ₹7.65 applicable interest, totaling ₹705.65 per share
Independent Directors Committee recommendations published on October 02, 2026 across major newspapers

💡 Track the tendering schedule and acceptance ratio for the open offer, as well as any strategic disclosures on post-acquisition governance and synergy between Apollo Micro Systems and Premier Explosives.

Premier Explosives Shareholders Approve All 6 AGM Resolutions Including Higher Borrowing Limits

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 01 Oct 2026, 05:59 PM

Premier Explosives Limited announced the voting results and scrutinizer's report from its 46th Annual General Meeting held on September 30, 2026. All six resolutions were approved by shareholders with requisite majorities, including the adoption of FY26 financial statements and declaration of a final dividend. Crucially, shareholders passed special resolutions to increase borrowing limits under Section 180(1)(c) with 96.47% approval and creation of security under Section 180(1)(a) with 98.64% approval. These approvals provide headroom for the company to fund working capital or capital expenditure as it executes its order book.

All 6 resolutions passed with requisite majority at the 46th AGM held on September 30, 2026
Special resolution to increase borrowing limits under Section 180(1)(c) passed with 96.4676% votes in favour
Special resolution for creation of security under Section 180(1)(a) passed with 98.6357% votes in favour
Adoption of financial statements and declaration of final dividend passed with 99.9999% votes in favour

💡 Monitor upcoming quarterly disclosures to see if higher debt is actually availed to fund execution of the order book and capacity initiatives.

Premier Explosives Schedules 46th AGM for Sep 30, 2026; Issues Annual Report FY26 Web Link

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Sep 2026, 12:47 PM

Premier Explosives Limited has issued a dispatch notice to shareholders regarding the 46th Annual General Meeting (AGM), scheduled for Wednesday, September 30, 2026, at 11:30 a.m. IST via video conferencing. The company has sent web links for the FY 2025-26 Annual Report to members whose email addresses were unregistered as of the cut-off date, August 28, 2026. This is a procedural compliance filing under SEBI LODR Regulation 36(1)(b) and does not contain new financial results or operational developments.

46th Annual General Meeting scheduled for Wednesday, September 30, 2026, at 11:30 a.m. IST via Video Conference
Cut-off date for dispatch of communication to unregistered members was Friday, August 28, 2026
Compliance notice issued pursuant to SEBI LODR Regulation 36(1)(b)

💡 Track the upcoming 46th AGM proceedings on September 30, 2026, and look for management commentary on order book execution and FY27 growth targets.

Premier Explosives Proposes Borrowing Limit Increase up to Rs 1,000 Cr at 46th AGM

🟡 NEUTRAL ⭐ 4/10

FUNDRAISE 📅 03 Sep 2026, 05:53 PM

Premier Explosives Limited has issued the notice for its 46th Annual General Meeting scheduled for September 30, 2026. Key agenda items include seeking shareholder approval via special resolutions to increase the company's borrowing limits under Section 180(1)(c) up to Rs 1,000 crore over and above paid-up capital and free reserves. The company is also seeking authorization to create charges/security on assets up to Rs 1,000 crore under Section 180(1)(a) to support growing working capital, bank guarantee, and letter of credit requirements. Ordinary business includes adoption of FY26 financial statements, dividend approval, and director re-appointment.

46th Annual General Meeting scheduled for Wednesday, September 30, 2026 via Video Conferencing.
Proposed special resolution to hike borrowing limits up to Rs 1,000 Crores over paid-up capital and free reserves.
Proposed creation of charges/mortgages on company assets up to Rs 1,000 Crores under Section 180(1)(a).
Ratification of cost audit remuneration of Rs 1,60,000 per annum for FY 2026-27.

💡 Track voting results after the September 30, 2026 AGM and monitor subsequent quarterly balance sheets for actual debt drawdown and working capital expansion.

SEBI Updates Apollo Micro's 26% Open Offer at Rs 698/share; Tendering Post-CCI Approval with 10% Interest

🔵 WATCH ⭐ 9/10

M&A 📅 21 Aug 2026, 05:51 PM

SEBI has issued directions regarding the open offer by Apollo Micro Systems Limited to acquire up to 1,39,77,911 equity shares (26.00% stake) of Premier Explosives Limited at an offer price of Rs 698 per share. The tendering period is now permitted to commence within 12 working days from receipt of approval from the Competition Commission of India (CCI). Furthermore, SEBI mandated that successful tendering shareholders must be paid within 10 working days of the tendering period's close, along with interest of 10% per annum for the delay payable by the acquirer.

Open offer involves acquisition of up to 1,39,77,911 equity shares representing 26.00% of equity share capital.
Offer price fixed at Rs 698 per share (compared to current market price of Rs 665.5).
Tendering period will start within 12 working days post receipt of CCI approval.
Acquirer Apollo Micro Systems must pay 10% per annum interest to successful public shareholders for the delay.

💡 Track the receipt of CCI approval for Apollo Micro Systems, which will trigger the 12-day window for the opening of the open offer tendering period.

Premier Explosives Targets ₹500–600 Cr Execution in 12–18M on ₹1,393 Cr Order Book

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 20 Aug 2026, 10:32 PM

Premier Explosives hosted its Q1 FY27 earnings call detailing performance and business outlook following a weak quarter where revenue fell 28% YoY to ₹102.6 crore and PAT dropped 80% YoY to ₹3 crore due to supply chain disruptions. The company's total order book stands at ₹1,393 crore (approx. 4.0x TTM revenue), with the defense segment comprising 94% (₹1,309 crore). Management reiterated full-year EBITDA margin guidance of 15%–20% and targeted an annual execution run-rate of ₹500–600 crore over the next 12 to 18 months as supply chain bottlenecks ease.

Total order backlog stands at ₹1,393 crore, with defense orders making up 94% (₹1,309 crore)
Q1 FY27 revenue dropped 28% YoY to ₹102.6 crore with net profit down 80% YoY to ₹3 crore
Management targeting execution run rate of ₹500 crore to ₹600 crore in the next 12 to 18 months
Full-year EBITDA margin guidance maintained at 15% to 20% despite raw material cost pressures in Q1

💡 Track quarterly revenue ramp-up toward the ₹500–600 crore annual run rate and gross margin recovery toward historical 15–20% EBITDA levels in upcoming quarterly results.

Premier Explosives Uploads Audio Recording of Q1 FY27 Earnings Call

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 14 Aug 2026, 06:11 PM

Premier Explosives has informed the stock exchanges that the audio recording for its Q1 FY27 earnings conference call has been uploaded to the company's website. The conference call to discuss results for the quarter ended June 30, 2026, was held on August 14, 2026, at 12:30 PM IST. This is a routine post-earnings statutory filing under SEBI LODR Regulations 30 and 46 containing no new operational or financial figures in the letter.

Audio recording of Q1 FY27 earnings call uploaded on the company's website.
Earnings conference call was conducted on August 14, 2026, at 12:30 PM (IST).
Pertains to financial results for the first quarter ended June 30, 2026.
Compliance disclosure pursuant to Regulation 30 & 46 of SEBI LODR Regulations.

💡 Track the recorded call on the company website for management commentary on the execution of the INR 1,297.1 Cr defense order book and raw material supply chain updates.

Premier Explosives pays ₹3.12 lakh fine to BSE following rejection of listing regulation waiver

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 14 Aug 2026, 06:09 PM

Premier Explosives Limited has paid listing regulation non-compliance fines totaling ₹3,11,520 (including GST) to BSE on August 13, 2026, following the rejection of its waiver applications on August 12, 2026. The penalties relate to past non-compliance/delayed compliance with Regulation 17(1A) of SEBI Listing Regulations for the quarters ended December 2024 (₹1.06 lakh) and June 2021 (₹2.05 lakh). The corresponding fines to NSE had already been paid earlier. Given the company's TTM revenue of ₹388 crore, the financial impact is negligible.

BSE rejected the company's waiver applications for Regulation 17(1A) compliance fines on August 12, 2026.
Company paid total penalty of ₹3,11,520 (including GST) to BSE on August 13, 2026.
Fine breakdown: ₹1,06,200 for quarter ended December 2024 and ₹2,05,320 for quarter ended June 2021.
Corresponding NSE fines were already discharged previously.

💡 Track ongoing adherence to corporate governance standards and timely appointments/resolutions for board directors.

Rs 1,550 Cr Acquisition by Apollo Micro Systems; Q1 PAT Drops 80% to Rs 3.03 Cr

🔵 WATCH ⭐ 10/10

M&A 📅 13 Aug 2026, 05:48 PM

Premier Explosives (PEL) has announced a major change in control with Apollo Micro Systems acquiring a 41.33% promoter stake for ~Rs 1,550 Cr, followed by an open offer at Rs 698/share. Operationally, Q1 FY27 was weak, with revenue declining 28% YoY to Rs 102.6 Cr and PAT falling 80% to Rs 3.03 Cr due to supply chain disruptions and dispatch delays. Despite the poor quarter, the order book remains robust at Rs 1,393 Cr (3.59x FY26 revenue), with 94% concentrated in the high-margin defense segment.

Apollo Micro Systems to acquire 41.33% promoter stake for ~Rs 1,550 Cr, expected to close by Q3 FY27.
Open offer launched for an additional 26% stake (1.40 Cr shares) at a price of Rs 698 per share.
Order book stands at Rs 1,393 Cr as of August 2026, providing 3.59x revenue visibility relative to FY26.
Q1 FY27 EBITDA margin contracted sharply to 5.7% from 14.7% YoY due to elevated raw material costs.
Defense and Space segment revenue fell 35.5% YoY to Rs 79.3 Cr, while Commercial Explosives grew 21.4% to Rs 23.3 Cr.

💡 Investors should monitor the regulatory approval timeline for the Apollo Micro Systems acquisition and the success of the open offer at Rs 698. Watch for improved execution in upcoming quarters to see if the company can mitigate the supply chain issues that caused the Q1 earnings miss.

Sept 23 set as Record Date for FY26 Dividend and 46th AGM

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 13 Aug 2026, 04:41 PM

Premier Explosives Limited has announced September 23, 2026, as the record date for determining shareholder eligibility for the FY 2025-26 dividend. The company's 46th Annual General Meeting (AGM) is scheduled for September 30, 2026, via video conferencing. This follows a fiscal year (FY26) where the company reported a PAT of ₹45.81 Cr on revenues of ₹388.34 Cr. The announcement is a routine procedural step for the distribution of corporate benefits.

Record date for FY 2025-26 dividend fixed for September 23, 2026
46th Annual General Meeting scheduled for September 30, 2026, at 11:30 A.M. IST
Company currently holds a significant order book of ₹1,297.1 Cr, primarily in defense
FY26 revenue stood at ₹388.34 Cr with an operating profit margin of 9.95%

💡 Investors should note the record date of September 23, 2026, to ensure eligibility for the dividend. The upcoming AGM on September 30 will be a key event to monitor management's commentary on the execution timeline of the ₹1,297.1 Cr order book.

₹3.03 Cr PAT: Premier Explosives Q1 Profit Drops 80% YoY as Margins Shrink

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 13 Aug 2026, 04:18 PM

Premier Explosives reported a weak Q1 FY27 with standalone net profit plummeting 80.2% YoY to ₹3.03 Cr. While revenue showed a sequential recovery of 15% to ₹102.56 Cr compared to Q4 FY26, it remains 27.8% lower than the ₹142.15 Cr reported in the same quarter last year. Profitability was severely pressured by raw material costs, which surged to 76.3% of revenue from 49.9% YoY, leading to significant margin compression.

Standalone revenue from operations declined 27.8% YoY to ₹102.56 Cr.
Net profit fell sharply by 80.2% YoY to ₹3.03 Cr from ₹15.32 Cr in Q1 FY26.
Raw material consumption costs rose to ₹78.22 Cr, representing 76.3% of revenue.
An insurance claim of ₹6.10 Cr related to a previous facility accident remains outstanding.
The company set September 23, 2026, as the record date for the FY26 dividend.

💡 Investors should monitor the company's ability to pass on raw material price increases and the execution timeline of its ₹1,297.1 Cr order book to restore margins. Watch for the upcoming AGM on September 30, 2026, for management commentary on supply chain disruptions.

80% PAT Drop: Premier Explosives Q1 FY26 Net Profit Falls to ₹3.03 Cr; Revenue Down 28% YoY

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 13 Aug 2026, 04:00 PM

Premier Explosives reported a weak Q1 FY26 with revenue from operations declining 27.8% YoY to ₹102.56 Cr from ₹142.15 Cr. Net profit saw a sharp contraction of 80.2% YoY, falling to ₹3.03 Cr from ₹15.32 Cr, largely due to a significant increase in raw material costs relative to revenue. The company's insurance claim of ₹6.10 Cr related to a previous facility accident remains outstanding. Despite the quarterly dip, the company holds a substantial order book of ₹1,297.1 Cr, which is approximately 3.3x its TTM revenue.

Revenue from operations decreased 27.8% YoY to ₹102.56 Cr in Q1 FY26.
Net profit plummeted 80.2% YoY to ₹3.03 Cr compared to ₹15.32 Cr in Q1 FY25.
Raw material costs as a percentage of revenue rose sharply to 76.3% from 49.9% YoY.
Insurance claim receivable of ₹6.10 Cr remains pending settlement with the insurer.
Record date for the FY2025-26 dividend is set for September 23, 2026.

💡 Investors should monitor the pace of order book execution and margin recovery in upcoming quarters, as the current results show significant pressure from raw material costs and execution delays.

Premier Explosives Schedules Q1 FY27 Earnings Call for August 14, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 11 Aug 2026, 02:35 PM

Premier Explosives Limited has scheduled its Q1 FY27 earnings conference call for August 14, 2026, at 12:30 PM IST. The call will be led by Managing Director Mr. T.V. Chowdary and CFO Mr. Vijay Kumar BM to discuss the latest financial performance. Investors will likely focus on the execution status of the company's substantial Rs 1,297.1 Cr order book, which represents approximately 3.3x its TTM revenue of Rs 388 Cr. This call follows a period where the company faced supply chain challenges and potential liquidated damages on defense orders.

Earnings conference call scheduled for August 14, 2026, at 12:30 PM IST
Management participants include the Managing Director and Chief Financial Officer
Discussion to center on Q1 FY27 financial results and operational updates
Company is currently executing an order book valued at Rs 1,297.1 Cr
TTM revenue stands at Rs 388 Cr with a current P/E ratio of 76.4

💡 Investors should listen for management commentary regarding raw material availability and the timeline for executing the defense-heavy order book to mitigate liquidated damages.

Resignation of Independent Woman Director Dr. Kumuda Raghavan

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 31 Jul 2026, 07:06 PM

Dr. (Mrs.) Kumuda Raghavan has resigned from her position as a Non-Executive Independent Director at Premier Explosives Limited, effective July 31, 2026. The resignation is attributed to personal commitments and health reasons, with the director confirming there are no other material reasons. This is a routine board-level change for the company, which currently has a market capitalization of Rs 3,571 Cr and a substantial order book of Rs 1,297.1 Cr.

Resignation effective from the close of business hours on July 31, 2026
Director confirmed no other material reasons for resignation beyond personal and health commitments
The resigning director holds zero (Nil) directorships in other listed entities
Company maintains a significant order book of Rs 1,297.1 Cr, which is ~3.3x its TTM revenue

💡 Investors should monitor the company's next board meeting announcement for the appointment of a successor to ensure continued compliance with SEBI requirements for an independent woman director.

View All PREMEXPLN Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Defense & Space Services revenue grew 28% YoY in H1FY26 to INR 186.1 Cr. Commercial Explosives revenue declined 3% YoY in H1FY26 to INR 31.6 Cr. Total revenue for H1FY26 grew 22.7% YoY to INR 217.7 Cr.

Geographic Revenue Split

Exports contribute approximately 45-50% of the total top line, with domestic sales accounting for the remaining 50-55%.

Profitability Margins

H1FY26 PAT margin stood at 15.2%, showing a growth of 642 bps YoY. Q2FY26 PAT margin was 23.6%, up 1478 bps YoY. FY25 operating margin compressed to 13.9% from 21.5% in FY24 due to a 68.5% rise in expenses.

EBITDA Margin

H1FY26 EBITDA margin was 12.6%, a decrease of 548 bps YoY from 18.1%. The company targets a consolidated EBITDA margin in the range of 15-20%.

Capital Expenditure

Total assets expanded to INR 530.54 Cr in FY25 from INR 444.65 Cr in FY24, reflecting preparedness to scale up production and execution capacity.

Credit Rating & Borrowing

ICRA notes a comfortable capital structure with a gearing of 0.3 times as of March 31, 2025. Finance costs for H1FY26 were INR 1.88 Cr, down from INR 5.86 Cr in H1FY25.

⚙️ Operational Drivers

Raw Materials

Chemicals and components for explosives and defense products represent approximately 60.1% of total revenue (INR 130.96 Cr in H1FY26).

Import Sources

Raw materials and components are sourced globally, with specific challenges noted in Southeast Asia and Europe due to geopolitical tensions.

Key Suppliers

Not specifically disclosed in available documents, though marquee clients include Singareni Collieries Company Limited (SCCL), Bharat Dynamics Limited (BDL), and ISRO.

Capacity Expansion

The company is expanding its preparedness to scale up production and execution capacity in line with its long-term growth strategy, though specific MTPA figures are not disclosed.

Raw Material Costs

Cost of raw materials for H1FY26 was INR 130.96 Cr, representing 60.1% of revenue. FY25 expenses rose 68.5% YoY, compressing margins.

Manufacturing Efficiency

Capacity utilization metrics are not disclosed, but the company reported a 20% YoY revenue degrowth in Q2FY26 due to delayed order execution.

📈 Strategic Growth

Expected Growth Rate

20-44%

Growth Strategy

Growth will be achieved by executing the INR 1,297.1 Cr order book (90% defense), expanding into new propulsion systems for Guided Artillery rockets and SAM, and leveraging the JV 'Global Premier Limited' with NIBE Group to manufacture defense and aerospace products.

Products & Services

Missile propellants, ignition systems, countermeasures (chaffs and flares), booster rockets, warheads for Loitering Munition/UAVs, and PSOM XL motors for PSLV.

Brand Portfolio

Premier Explosives Limited (PEL).

New Products/Services

Development orders for propulsion systems for Guided Artillery rockets and SAM; production orders for booster rockets and warheads for Loitering Munition/UAVs.

Market Expansion

Targeting increased export orders from Southeast Asia and Europe to play a major part in future revenues.

Market Share & Ranking

Not disclosed, but noted as the only qualified Indian company for countermeasures.

Strategic Alliances

Joint Venture 'Global Premier Limited' with Global Munition Limited (NIBE Group) to manufacture defense and aerospace products.

🌍 External Factors

Industry Trends

The industry is shifting toward indigenous defense products (Atmanirbhar Bharat), presenting large growth opportunities for approved suppliers like PEL.

Competitive Landscape

Highly competitive and fragmented in commercial explosives; few private players in the specialized defense explosives segment.

Competitive Moat

Moat is sustained by technological expertise in defense explosives and being the only qualified Indian company for countermeasures, creating high entry barriers.