1:5 Split, Rs 2.5 Dividend: Multibagger Defence Stock Set To Be Cheaper; Shares Rally 13.47%

Small cap stock operating in defence sector, Premier Explosives Ltd shares gained 13.47% intraday today on BSE after hitting consecutive back-to-back lower circuits on June 4 and June 5, 2024. Current market price of Premier Explosives share on BSE is Rs 2609.00 per share. Premier Explosives shares offered highly attractive returns of 484% in last 1-year only and 64% year-to-date. The company approved 1:5 stock split recently to make the stock affordable and attractive and fixed June 21, 2024 as the record date. Its Board also recommended an interim dividend of Rs 2.4 per equity share of Rs 10/- each for the FY ended March 31, 2024. Check key details below:

Premier Explosives Share Performance: 52-week high price of Premier Explosives shares is quoting Rs 2,789.00 per share (as on 29/04/2024) and 52-week low price is Rs 420.00 apiece (as on 16/06/2023), respectively. The market capitalisation of Premier Explosives on BSE stood at Rs 2803.43 crore. Premier Explosives shares gave eye-catching returns of 76% in last 3-months, soared 730% in last 2-years, and jumped 1701% in last 3-years.

Premier Explosives Recommended Dividend: The company on May 30 declared a dividend of Rs 2.50/- per equity share of Rs 10/- each for the FY year ended March 31, 2024. It will subject to approval of members at the ensuing 44th Annual General Meeting (AGM) of the Company. The AGM date and book closure / record date for the purpose of payment of dividend will be informed in due course."

Premier Explosives Approved 1:5 Stock Split, Sets Record Date: The company on May 30 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: It registered a stunning growth of 180.08% in net profit for the quarter ended March 2024 to Rs 6.75 crore as against Rs 2.41 crore announced in the similar quarter of March 2023. Sales of the company jumped 65.88% to Rs 86.79 crore for the March 2024 quarter as against Rs 52.32 crore announced in corresponding quarter of last year. The defence 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 same quarter of last year. Profit before tax of Premier Explosive for March 2024 quarter declared at Rs 10.33 crore as against Rs 2.96 crore in the similar quarter of last year. Total expenses of Premier Explosives for the March 2024 quarter announced at Rs 76.91 crore from Rs 49.48 crore in the same quarter of last year.

Premier Explosives Gave Approval To Fundraising: The BSE filing stated, "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."

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.