Explosives and Accessories manufacturer Premier Explosives on Tuesday announced that it has received an order worth Rs 552.3 crore from the Ministry of Defence, it said in a regulatory filing. The company said that it bagged the order for supply of chaffs and flares to the defence ministry. The order is to be executed within twelve months from the date of the contract.
Premier Explosives added that the Ministry of Defence has placed one order for the supply of chaffs worth Rs 292.11 crore (including GST) and the other order worth Rs 260.15 crore (including GST) for the supply of flares.
Earlier last week, it had received an order for the supply of 50 MM MTV flares from the defence ministry worth Rs 76.78 crore and for supply of booster grains from Bharat Dynamics Ltd for Rs 9.73 crore. This order is also expected to be completed within 12 months. Established in 1980, Premier Explosives Limited is a ominent player in manufacturing solid propellants for India’s prestigious missile programmes like Akash, Astra, and LRSAM, as per its website. Further, in another filing, Premier Explosives said that it will announce its financial results for the quarter ended June 2023 on 19 July 2023.