Premier Explosives soars as Telangana PCB lifts closure order on Katepally unit

Premier Explosives jumped 9.30% to Rs 597.40 after the Telangana Pollution Control Board (TGPCB) revoked the closure order on its factory located at Katepally Village in Yadadri-Bhuvanagiri district.

The plant had been shut since 29 April 2025, when a powerful explosion in the rocket propellant mixing unit killed three workers and injured three others. In a communication received by the company, TGPCB has cleared the way for production activities to resume, subject to compliance with the conditions specified in its order.

Premier Explosives said it will ensure full adherence to the stipulated requirements laid down by the regulator. The development comes as a relief for the company, with the Katepally facility being a critical hub for its defence and aerospace manufacturing.

The unit produces solid propellants, rocket motors and missiles, HMX/RDX, ammunition, mines, warheads, bombs, and flares, and supplies to key defence programmes including those of the DRDO.

Separately, Premier Explosives said that India Ratings and Research has assigned credit ratings to its bank loan facilities worth Rs 327 crore. According to the rating agency, the company?s long-term bank loan facilities have been rated IND A-/Stable, while short-term facilities have been assigned IND A2+. The outlook is stable.

Premier Explosives is engaged in manufacture of high energy materials like bulk explosives, packaged explosives, detonators, detonating fuse, solid propellants, pyrogen igniters, pyro devices, etc., having applications in mining, infrastructure, defence, space, homeland security and such other areas. The company also operates and maintains solid propellant plants of defence and space establishments.

The company's standalone net profit surged 153% to Rs 18.42 crore, while net sales rose 71.6% to Rs 142.15 crore in Q1 FY26 over Q1 FY25.

Powered by Capital Market - Live News