Premier Explosives sells 41% to Apollo Micro for ₹1,550 cr

Tipsheet Editorial — Thu, 09 Jul 2026 19:49:57 GMT

Apollo Micro Systems takes control at ₹698/share; mandatory open offer for 26% more. Deal hinges on CCI nod.

What’s new

Apollo Micro Systems buys 41.33% stake from promoters at ₹698/share.
Mandatory open offer for up to 26% at same price triggered.
Deal subject to CCI approval, expected closure in 4-5 months.

Why it matters

A full change of control in a defence small-cap with a ₹1,569 cr order book (4x revenue). Apollo's deep pockets and listed defence parent could accelerate growth, but integration execution is the open question.

What we’re watching

CCI approval timeline and any conditions.
Open offer response and eventual public shareholding.
Apollo's integration plans and potential cost or revenue overlaps.

The full read

Apollo Micro Systems is buying 41.33% of Premier Explosives from its promoters at ₹698 per share, a deal worth ₹1,550 crore. This triggers a mandatory open offer for another 26% at the same price, giving public shareholders a chance to exit at a small premium. The price values the company at roughly ₹3,690 crore in market cap. For a company that already holds a record order book worth ₹1,569 crore (four times its latest annual revenue), the arrival of a listed defence parent with deeper pockets could be the push needed to finally execute on its backlog. The deal is subject to CCI approval, expected in 4-5 months. A rare catalyst.

Primary source: BSE · NSE

Premier Explosives guides for 50% revenue growth, but a key plant slips again

Tipsheet Editorial — Sat, 30 May 2026 11:08:14 GMT

Management targets ₹600-700 crore for FY27 on a record order book, but the Kattupalli expansion is now a November production date.

What’s new

FY27 revenue guidance of ₹600-700 crore, up from ₹388 crore in FY26.
Order book at a record ₹1,569 crore, giving 4x revenue visibility over two to three years.
Kattupalli RDX/HMX expansion commissioning pushed to September 2026, production in November.

Why it matters

The 50% growth target is aggressive but backed by a four-year order book. The problem is execution. The Kattupalli expansion, needed to deliver on new contracts, has slipped again. That's the second delay. The gap between the guidance ambition and the plant's timeline is now the core tension.

What we’re watching

Stability of alternative raw materials now accepted by DRDO.
Whether the September 2026 commissioning date for Kattupalli holds.
First-half execution to validate the ₹600-700 cr revenue run-rate.

The full read

Premier Explosives is guiding for ₹600-700 crore in FY27 revenue, a near-50% jump from FY26's ₹388 crore. The target rests on a ₹1,569 crore order book, a record, which gives the company 4x revenue cover. Management said the raw-material shortages that held back last year are fixed after DRDO accepted alternatives. The order book is deep. The problem is the plant. The Kattupalli expansion, meant to add RDX/HMX capacity, has slipped again. Commissioning is now September 2026, production in November. A big target needs the capacity to deliver it. This filing shows both.

Primary source: BSE · NSE

Premier Explosives Ltd. (PREMEXPLN) — Tipsheet

Premier Explosives sells 41% to Apollo Micro for ₹1,550 cr

What’s new

Why it matters

What we’re watching

The full read

Premier Explosives guides for 50% revenue growth, but a key plant slips again

What’s new

Why it matters

What we’re watching

The full read