1:5 Stock Split, Rs 2.5 Dividend: Defence Stock Fixes Record Date, Shares To Get Affordable

Small cap stock from the defence sector, Premier Explosives Ltd fixes June 21, 2024 as the record date for 1:5 stock split/sub-division of shares. Last trading price of Premier Explosives share on BSE is Rs 2525.00 per share as on May 31, 2024. Premier Explosives share offered stunning returns of 70% in last 3-months and zoomed 498% in last 1-year. Earlier on May 30, 2024, Board of Premier Explosives recommended Rs 2.5 per equity share of Rs 10/- each for the financial year ended March 31, 2024. More details below:

Premier Explosives Declares Dividend: According to the exchange filing of the company 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: As per May 30 BSE filing, "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 witnessed a surge of 180.08% in net profit for the quarter ended March 2024 to Rs 6.75 crore as compared to Rs 2.41 crore declared in the corresponding quarter of March 2023. Sales of the company rallied 65.88% to Rs 86.79 crore for the March 2024 quarter from Rs 52.32 crore announced in March 2023. The defence company for the quarter ended March 31, 2024 declared its revenue from operations at Rs 87.24 crore as compared to Rs 52.45 crore in the similar quarter of last year.

Profit before tax of the company for March 2024 quarter announced at Rs 10.33 crore as compared to Rs 2.96 crore in the corresponding 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 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. The market capitalisation of Premier Explosives is Rs 2714.94 crore. Premier Explosives shares have been offering attractive returns to shareholders. Premier Explosives stock gained 77% in last 6-months, offered return of 661% in last 2-years, and surged 1524% in last 3-years.

Premier Explosives Gave Nod To 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."

Premier Explosives Dividend History & Shareholding: Premier Explosives announced 21 dividends since September 3, 2001. In last 1-year, Premier Explosives announced an equity dividend amounting to Rs 1.70 per share. At the current share price of Rs 2525.00, Premier Explosives offers dividend yield of 0.07%. FII/FPI have decreased holdings from 0.32% to 0.27% in March 2024 quarter. Number of FII/FPI investors increased from 6 to 11 in March 2024 quarter. Mutual Funds have increased holdings from 8.65% to 9.29% in Mar 2024 quarter. Institutional Investors have increased holdings from 9.59% to 10.54% in Mar 2024 quarter, according to Trendlyne. FIIs stake stood at 0.3% and DII stake at 10.3%.

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, according to its official site.

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.