1:5 Stock Split, Rs 2.5 Dividend Recommended: Defence Stock Declares 184.55% Rise In Q4 Net Profit

Small cap stock from the defence sector, Premier Explosives Ltd today for the quarter ended March 31, 2024 declared its standalone net profit at Rs 6.63 crore, up 184.55% as against Rs 2.33 crore announced in the similar quarter of last year. Current market price of Premier Explosives Ltd share on BSE is Rs 2543.65 per share with intraday gain of 1.03%. Premier Explosives recommended a dividend of Rs 2.50 per equity share of Rs 10 each for the FY ended March 31, 2024. It also fixed June 21, 2024 as the record date for 1:5 stock split. Premier Explosives shares offered eye-popping returns of 705% return in last 2-years and 71% return in last 3-months. Check key details below:

Premier Explosives Recommends Dividend: As per the regulatory filing of Premier Explosives dated May 30, 2024, "recommended a dividend of Rs.2.50/- (Le., 25%) per equity share of Rs. 10/- each for the financial year ended March 31, 2024, subject to approval of the members at the ensuing 44th Annual General Meeting (AGM) of the Company. The dividend, if approved by the Shareholders, will be paid with 30 days of approval/declaration. The AGM date and book closure / record date for the purpose of payment of dividend will be informed in due course."

Premier Explosives Sets Record Date For 1:5 Stock Split: The regulatory filing of Premier Explosives dated May 30 stated, "the Company has fixed Friday, 21st June, 2024 as the Record Date, to ascertain the name of the shareholders entitled for the sub-division/ split of existing 1 (one) Equity Share of face value of Rs. 10/- each fully paid up into 5 (Five) Equity Shares of Rs. 2/- each fully paid up."

Premier Explosives Q4: The company for the quarter ended March 31, 2024 announced its revenue from operations at Rs 87.24 crore as against Rs 52.45 crore in the corresponding quarter of last year. Total expenses of the company for the March 2024 quarter declared at Rs 76.91 crore from Rs 49.48 crore in the same quarter of last year. Profit before tax of Premier explosive for March 2024 quarter announced at Rs 10.33 crore as against Rs 2.96 crore in the similar quarter of last year.

Premier Explosives Share Performance: The 52-week high price of Premier Explosives shares on BSE is Rs 2,789.00 per share (as on 29/04/2024) and 52-week low price is Rs 412.45 apiece (as on 01/06/2023), respectively. Premier Explosives shares gave return of 71% in last 3-monhts, soared 505% in last 1-year, and gave highly attractive return of 1546% return in last 3-years. In last 5-years, Premier Explosives shares surged 1126% in last 5-years.

Premier Explosives Approved Fundraising: The BSE filing added, "raising of funds through issuance of instruments or security including equity shares or any other eligible securities by way of one or more public and/or private offerings including on a preferential allotment basis and/or a qualified institutions placement and/or rights issue and/or further public offering, in one or more of the tranches for an aggregate amount not exceeding Rs. 400 crores (Rupees Four Hundred Crores) in terms of the SEBI ICDR Regulations and/or any other permissible mode(s), in accordance with the SEBI ICDR Regulations and other applicable regulations, subject to necessary approvals including the approval of the shareholders of the Company and such other regulatory/statutory approvals as may be required."

About: Premier Explosives Limited is a Rs.2600 million company established in 1980. Since inception it has been a research and innovation orieted company by manufacturing explosives and detonators with totally indigenous technology in 1980's and 1990's. In 2013, PEL started commercial-scale manufacture of detonators with Nickel Hydrazine Nitrate (NHN)as primary charge emerging as the world first to do so. Extending its research forte to defence products, in 2003 PEL forayed into development of solid propellants and today it is the only private entity in India manufacturing and supplying solid propellants for prestigious missiles like Akash, Astra, LRSAM, etc, according to BSE filing.

Disclaimer:

The stock highlights the stock split, Q4, dividend, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.