Premier Explosives

₹2480.2 78.1 | 3.3%

WEBSITE BSE:526247 NSE : PREMIER EXPL 18 May, 12:50

Market Cap ₹2667 Cr.

Stock P/E 111.0

P/B 12.5

Current Price ₹2480.2

Book Value ₹ 199.2

Face Value 10

52W High ₹2789

Dividend Yield 0.07%

52W Low ₹ 404.9

Edit Ratio

Premier Explosives Research see more...

Premier Explosive : Riding on Defence capex

Overview Inc. Year: 1980Industry: Chemicals

Premier Explosives Ltd is engaged within the business of high power substances (industrial explosives and defense explosives). The Company's geographical segments consist of India, which incorporates sales and services to clients inside India, and other nations, which incorporates sales and services to customers out of doors India. Its commercial explosives include bulk explosives, packaged explosives, cast booster, emulsion booster, detonators and detonating fuse, which can be utilized in mining and infrastructure sectors. Its defense explosives include solid propellants, tear gasoline grenades, explosive bolts, pyro actuators, smoke markers, pyrogen igniters and pyro devices, amongst others, which are consumed in manufacture of missiles and different defense items. It also operates and maintains solid propellant plants of space establishments and defense. The Company has about six manufacturing centres placed in Madhya Pradesh, Maharashtra, Tamil Nadu and Telangana.

Premier Explosives Share Price

New

Volume

Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

Quarterly Monthly

Show Value Show %

Peer Comparison

Premier Explosives Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	55	51	60	52	61	37	52	62	78	45
Other Income	1	1	1	0	1	1	0	0	0	3
Total Income	56	52	61	52	61	38	52	62	79	47
Total Expenditure	48	46	57	46	53	33	44	45	57	40
Operating Profit	8	5	4	6	8	5	8	17	22	8
Interest	2	2	2	2	2	2	3	3	3	2
Depreciation	2	2	2	2	2	3	2	3	3	3
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	4	1	0	2	4	1	3	11	16	2
Provision for Tax	1	1	0	1	1	0	1	3	5	1
Profit After Tax	3	1	0	1	3	1	2	8	12	2
Adjustments	-0	-0	0	-0	-0	-0	-0	-0	-0	-0
Profit After Adjustments	3	1	0	1	3	1	2	8	12	2
Adjusted Earnings Per Share	2.9	0.6	0.3	1.2	2.4	0.6	2.2	7.7	10.8	1.6

Premier Explosives Profit & Loss

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	185	238	275	253	165	154	199	202	237
Other Income	4	1	2	3	1	1	3	2	3
Total Income	189	239	277	256	166	155	202	204	240
Total Expenditure	171	208	255	230	170	147	178	176	186
Operating Profit	18	31	22	26	-4	7	24	28	55
Interest	4	4	5	6	6	7	7	9	11
Depreciation	3	4	4	4	5	6	10	10	11
Exceptional Income / Expenses	-3	0	0	0	0	-9	0	0	0
Profit Before Tax	8	23	13	16	-15	-15	7	9	32
Provision for Tax	3	7	5	5	-5	-4	2	2	10
Profit After Tax	6	15	8	11	-10	-11	5	7	24
Adjustments	0	0	0	0	0	0	0	-0	0
Profit After Adjustments	6	16	8	11	-10	-11	5	7	24
Adjusted Earnings Per Share	6.4	17.4	7.7	10.6	-9.2	-10.2	4.9	6.4	22.3

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	2%	7%	-6%	0%
Operating Profit CAGR	17%	0%	5%	0%
PAT CAGR	40%	0%	-3%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	495%	156%	64%	36%
ROE Average	4%	0%	0%	4%
ROCE Average	7%	3%	3%	7%

Premier Explosives Balance Sheet

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	65	125	199	210	196	185	189	195
Minority's Interest	0	2	2	1	1	1	1	1
Borrowings	0	6	8	7	4	10	5	2
Other Non-Current Liabilities	7	18	17	18	30	19	20	16
Total Current Liabilities	57	82	104	80	92	88	114	142
Total Liabilities	130	234	329	315	324	303	330	357
Fixed Assets	39	104	105	117	116	184	180	189
Other Non-Current Assets	13	10	23	46	89	18	22	8
Total Current Assets	77	119	201	152	119	101	127	159
Total Assets	130	234	329	315	324	303	330	357

Premier Explosives Cash Flow

#(Fig in Cr.)	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	0	4	1	2	2	2	1	0
Cash Flow from Operating Activities	10	-7	-24	50	-6	10	-2	21
Cash Flow from Investing Activities	-4	-9	-46	-26	-14	-4	-11	-16
Cash Flow from Financing Activities	-3	14	71	-24	20	-7	13	-6
Net Cash Inflow / Outflow	3	-3	1	0	-1	-1	-0	-0
Closing Cash & Cash Equivalent	4	1	2	2	2	1	0	0

Premier Explosives Ratios

#	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	6.38	17.35	7.66	10.56	-9.23	-10.15	4.93	6.42
CEPS(Rs)	10.1	21.61	11.27	14.66	-4.42	-4.36	13.7	15.61
DPS(Rs)	2	3	2.5	2.7	0	0	1.5	1.7
Book NAV/Share(Rs)	73.86	141.13	185.64	195.03	182.67	171.85	176.23	181.1
Core EBITDA Margin(%)	6.94	11.47	7.08	9.21	-3.18	4.11	10.51	12.83
EBIT Margin(%)	5.97	10.32	6.47	8.48	-5.49	-5.27	7.15	9.03
Pre Tax Margin(%)	4.07	8.62	4.53	6.25	-9.13	-9.86	3.51	4.62
PAT Margin (%)	2.77	5.89	2.87	4.45	-6.09	-7.13	2.62	3.45
Cash Profit Margin (%)	4.41	7.3	4.28	6.23	-2.89	-3.05	7.4	8.31
ROA(%)	4.34	8.51	2.86	3.5	-3.14	-3.49	1.65	2.03
ROE(%)	8.59	16.23	5	5.54	-4.94	-5.75	2.79	3.63
ROCE(%)	13.7	21.5	8.87	8.89	-3.68	-3.26	5.58	6.7
Receivable days	76.24	68.52	100.2	117.52	125.21	111.15	107.55	113.11
Inventory Days	40.17	39.91	47.18	51.49	84.23	93.53	68.21	106.09
Payable days	42.75	36.31	38.81	58.73	95.95	88.77	71.46	77.62
PER(x)	59.63	20.17	43.73	23.2	0	0	62.95	62.79
Price/Book(x)	5.15	2.48	1.8	1.26	0.34	0.91	1.76	2.23
Dividend Yield(%)	0.53	0.86	0.75	1.1	0	0	0.48	0.42
EV/Net Sales(x)	1.91	1.44	1.33	1.03	0.66	1.44	2.04	2.52
EV/Core EBITDA(x)	19.49	11.15	16.49	10.06	-28.9	30.39	17.12	18.14
Net Sales Growth(%)	0	28.77	15.28	-7.85	-34.98	-6.62	29.61	1.46
EBIT Growth(%)	0	123.64	-32.99	18.34	-142.11	10.41	275.92	28.07
PAT Growth(%)	0	174.8	-47.85	39.84	-188.95	-9.31	147.66	33.38
EPS Growth(%)	0	172.02	-55.85	37.85	-187.44	-9.94	148.55	30.32
Debt/Equity(x)	0.35	0.31	0.23	0.13	0.29	0.31	0.41	0.43
Current Ratio(x)	1.36	1.45	1.93	1.9	1.3	1.15	1.12	1.12
Quick Ratio(x)	0.97	1.02	1.57	1.48	0.84	0.73	0.79	0.56
Interest Cover(x)	3.15	6.05	3.33	3.8	-1.51	-1.15	1.96	2.05
Total Debt/Mcap(x)	0.07	0.12	0.13	0.1	0.86	0.34	0.23	0.19

Premier Explosives Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	41.33	41.33	41.33	41.33	41.33	41.33	41.33	41.33	41.33	41.33
FII	0.27	0.28	0.19	0.28	0.27	0.17	0.26	0.45	0.32	0.27
DII	3.46	3.46	3.37	3.35	3.36	3.42	3.31	7.61	9.27	10.27
Public	54.94	54.93	55.11	55.03	55.04	55.08	55.1	50.6	49.07	48.12
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	0.44	0.44	0.44	0.44	0.44	0.44	0.44	0.44	0.44	0.44
FII	0	0	0	0	0	0	0	0	0	0
DII	0.04	0.04	0.04	0.04	0.04	0.04	0.04	0.08	0.1	0.11
Public	0.59	0.59	0.59	0.59	0.59	0.59	0.59	0.54	0.53	0.52
Others	0	0	0	0	0	0	0	0	0	0
Total	1.08	1.08	1.08	1.08	1.08	1.08	1.08	1.08	1.08	1.08

Pros

Company has reduced debt.
Company is almost debt free.

Cons

Promoter holding is low: 41.33%.
Company has a low return on equity of 0% over the last 3 years.
Debtor days have increased from 71.46 to 77.62days.
Stock is trading at 12.5 times its book value.
The company has delivered a poor profit growth of -2% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.