Premier Explosives Ltd reported its standalone numbers for the quarter ended 30th September 2016 post market hours of 2nd November 2016. Revenue for the quarter increased 35.8 per cent year on year to Rs 55 crores. Reported EBITDA surged by 82.8 per cent year on year to Rs 5 crores while EBITDA margins improved by 243 bps year on year to 9.45 per cent led by operating efficiency. Net profit increased by 27 per cent year on year to Rs 2.4 crores primarily due to 20 per cent year on year rise in finance cost and 13 per cent year on year decline in other income.
Earlier in the month of October this year Premier Explosives bagged an order worth Rs 27.79 crores from Bharat Dynamics for supply of booster grains. The order is to be executed before 30th June of 2017.
Premier Explosives Limited (PEL) is considered to be one of the major companies in India manufacturing the entire range of commercial explosives as well as accessories for the civil requirement. Currently the company is only Indian private entity designs, develops and manufactures solid propellants for Indian missiles viz. Akash, Astra, etc.
Premier Explosives Ltd
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Standalone Results Q2FY17: (Rs. in crore)
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Q2FY17
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YoY (%)
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Revenue
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54.92
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35.8
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EDITDA
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5.19
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82.8
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EBITDA Margin (%)
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9.5
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243
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Net Profit (adjusted)
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2.4
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27
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***EBITDA margin change is bps
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Amongst many firsts, the company is the first company in the world to produce safer and greener NHN (Nickel Hydrazine Nitrate) detonators on commercial scale replacing ASA (Lead Azide, Lead Styphnate and Aluminum Powder) detonators. PEL is operating and also maintaining a State-of-Art Chemical manufacturing facility of Indian Space Research Organisation or ISRO at Sriharikota and Solid Fuel Complex of Advanced Systems Laboratory at Jagdalpur.
Premier Explosives share price is currently trading at Rs 387.65, up by 3.80 per cent. The share price made a lifetime high of Rs 402.05 in today’s trading session.
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