Premier Explosives bags ₹429.6 crore order from Ministry of Defence; shares rise nearly 6%

Shares of Premier Explosives Ltd rose nearly 6% to ₹640.10 on Tuesday after the company said it received orders worth ₹429.56 crore from India’s Ministry of Defence for the supply of chaffs and flares to the Indian Air Force.The Secunderabad-based company said the orders, which include goods and services tax (GST), are to be executed within 12 months.

The contract, awarded by the Ministry of Defence on behalf of the IAF, involves the supply of chaffs and flares-countermeasure systems used by military aircraft to divert radar-guided and heat-seeking missiles.

Premier Explosives said the contract was awarded by a domestic entity and is not a related-party transaction. The company added that no promoter or group company has any interest in the entity awarding the order.Founded in 1980, Premier Explosives is one of India’s key manufacturers of solid propellants, pyrotechnics, and high-energy materials used in defence, space, and mining. It supplies critical components to the Indian armed forces, the Defence Research and Development Organisation (DRDO), and the Indian Space Research Organisation (ISRO).

The latest contract strengthens the company’s order book amid India’s drive toward defence self-reliance under the “Atmanirbhar Bharat” initiative. Premier has been expanding its defence production capabilities, focusing on ammunition, missile systems, and other high-value segments.