1:10 Stock Split: Defence Stock That Gained 120% YTD, Makes Big Q1 Update; Earns Profit Of Rs 7.28 Crore

Premier Explosives, a defence company, has announced its Q1 result for FY24. Overall, the earnings was a mixed bag. The company recently turned ex-split in the ratio of 1:10. While it has emerged among multi-baggers of 2024 in the smallcap basket. YTD, the stock has zoomed by nearly 120%.

Premier Explosives Share Price:

After market hours of July 18th, the stock price ended at Rs 677.40 apiece, down by 4.2% with a market cap of Rs 3,641.78 crore.

The stock's 52-week high and low is at Rs 909.35 apiece and Rs 153.82 apiece respectively. YTD, the stock advanced by 119.3% on BSE. In six months, the stock zoomed by 119%. In a year, the stock rallied by 323%.

Premier Explosives Q1 Results:

In Q1FY25, the company reported a standalone net profit of Rs 7.27 crore, lower compared to PAT of Rs 8.21 crore in Q1FY24. But the latest net profit was up from the March 2024 quarter where PAT was at Rs 6.63 crore.

Meanwhile, revenue from operations stood at Rs 82.85 crore in Q1FY25, up from Rs 61.95 crore in the same quarter a year ago. While revenue was down from Rs 86.79 crore revenue seen in Q4FY24.

Premier Explosives Stock Split:

The stock turned ex-split for sub-division in the ratio of 5:1. Meaning, 1 existing equity share of Premier Explosives with a face value of Rs 10 each, subdivided into 5 smaller equity shares with a face value of Rs 2 each. The record date to determine eligible shareholders for the stock split is fixed on June 21.

PEL has the widest range of products and technologies in the manufacture of Explosives & Accessories. These include Emulsion and Slurry explosives, LD cartridge explosives, Bulk Explosives, Small-dia non-permitted explosives, Permitted explosives, Cast Boosters, Pillow-packs for secondary blasting; Detonating Fuse of various core-loads, Plain detonators, Instantaneous Electric Detonators, Electric Delay Detonators, Permitted Detonators, Cord Relays and Amardet NoN-Electric Shock-tube Detonators.

PEL's R &D facility is recognized by the Department of Scientific and Industrial Research (DSIR), Government of India, as an established research centre. It is also recognized as a research base for PhD work by the Gulbara University, Gulbarga, Karnataka. PEL's laboratory is accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL). PEL also has a collaboration with IIT, Madras for research and development in high-energy materials.