Stock Split News: Defence stock Premier Explosives Ltd (NSE: PREMEXLPN) hit upper circuit on Tuesday, June 18. The share witnessed a 9.90% upside rally and closed at Rs 3,878.80 on June 18. On 19 June, the share further rallied 7.91% more and closed at Rs 4,175 while it reach a record high of Rs 4,177 during the trading session.
The shares of Premier Explosives are going to trade ex-split this week. Company has declared 1:5 Stock Split and the record date is set on June 21.
Premier Explosives Shares have given more than 148% returns to investors so far this year and in the last 1 year it has offered a huge return of 769.39%. Know more details below.
Premier Explosives Stock Split Details
The board of directors of the company have already announced a stock split of 1:5, in a meeting held on May 30. This means shareholders will get 5 shares with a face value of Rs 2 each for the existing 1 share with face value Rs 10. The record date for ex-split is set as June 21.
Also Read: Railway PSU Received Big Order Worth Rs 81 Crore, Share Price Skyrocketed
Premier Explosives Q4 Results
Premier Explosives Ltd (NSE: PREMEXLPN) has released its March Quarter Results for the FY24. The company has posted a strong profit in the Q4. Net profit of the company increased to Rs 6.75 crore with a gain of 180% from the corresponding quarter of last year in 2023.
The total income of the company has increased to Rs 86.79 crore with a 65.88% on YoY basis. Similarly operating income surged 110.74% to Rs 12.12 crore on YoY basis while it has increased 566% from the previous quarter.
Future Outlook
Premier Explosives future outlook seems promising. The company is consistently showing amazing financial performance in every quarter due to which investors are showing interest in the stock. The net profit growth and sales growth is increasing consistently.
In the last quarter the company’s sales growth surpassed to Rs 86.79 crore with a 65.88% gain on YoY basis. Similarly the net profit growth is 39.21% in the last 3 years. However, investors should note that promoters holding of the company is only 41.33% which is not good. So investors should closely monitor its quarterly and annual financial performance for the anticipation of future growth.
Premier Explosives Giving Rs 2.25 Dividend
Along with Q4 results, the company also has declared Rs 2.25 dividend for shareholders which will be paid after the annual general meeting (AGM). However, the company has not fixed the AGM date yet.
Premier Explosives Share Price
Premier Explosives Share price closed at Rs 4,175 with a 7.91% gain. During the trading session, it reached an all-time high of Rs 4,177. The share has a 52-week low of Rs 426, which means it has given more than 9X returns Within one year. It is expected that the share price of Premier Explosives will increase further before the stock split on June 21.
Disclaimer: Dear readers, we’d like to inform you that we are not authorized by SEBI (Securities and Exchange Board of India). The information provided in this article is for educational purposes only and we do not recommend buying or selling any stocks. This information provided are only for reference purpose so we are not responsible in case investors incur any loss based on the information. We are here to provide timely updates about the stock market and financial products to help you make better investment choices. Always conduct your own research before making any investment decision or consult a financial advisor.