Shares of this defense firm have shot up 11% this week
Premier Explosives's shares shot up 11% this week after the Telangana Pollution Control Board allowed its Katepally factory to reopen.
The plant had been closed since April 29, 2025, following a deadly explosion in the solid propellant mixing building that sadly took three lives and injured six others.
The financial impact of the shutdown
The explosion only damaged a small part of the production line, so most operations weren't hit too hard.
While large-diameter rocket motor work paused at Katepally, tactical missile production at another plant kept going.
Still, Premier expects to lose ₹25-30 crore in revenue over two years from the shutdown.
Premier's stellar quarterly results
Despite the setback, Premier posted a huge 110% YoY jump in net profit to ₹15.35 crore for Q1 FY26 and saw sales climb by over 70%.
The company says it'll meet all safety rules before fully restarting at Katepally—ensuring compliance with all conditions mentioned in the TGPCB's order.