Rs 1054 crore order book and FIIs & DIIs increase stake: This multibagger explosive manufacturer reports more than 300 per cent growth in PAT!

Shares of the company earned more than 180 per cent in the last six months.

Premier Explosives Limited reported a strong second quarter for FY24, with net sales growth of 29.32 per cent to Rs 78.42 crore, compared to Rs 60.64 crore in the same quarter last year. The operating profit experienced a significant increase of 178.11 per cent. The net profit for the quarter stood at Rs 11.66 crore, which was Rs 2.60 crore in the previous year's same quarter, representing a 348 per cent increase.

The company secured new orders worth Rs. 615 crores in FY2024 so far, taking the total outstanding order book to Rs. 1,054 crores, a growth of 75 per cent YoY. The stock has delivered multibagger returns of more than 750 per cent in the last three years. Additionally, FIIs and DIIs increased their stake in the company in September 2023. Premier Explosives is well-positioned to benefit from the growth of the Indian defence and aerospace industries. The company has a strong order book and is executing on its expansion plans.

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Premier Explosives Limited (PEL) is primarily involved in the manufacturing and sale of high-energy materials. The bulk explosives, packaged explosives and initiating systems manufactured by PEL find application in the mining, infrastructure and construction industries. The company also diversified into the manufacturing of propellants for missiles and rockets and strap-on- motors for satellite launch vehicles.

The stock has shown impressive growth, and investors should keep a close eye on this stock.