The company further clarified that neither its promoters nor any members of the promoter group have any interest in the awarding authority. It also confirmed that the transaction does not qualify as a related-party transaction under applicable regulations.

Premier Explosives is engaged in manufacture of high energy materials like bulk explosives, packaged explosives, detonators, detonating fuse, solid propellants, pyrogen igniters, pyro devices, etc., having applications in mining, infrastructure, defence, space, homeland security and such other areas. The company also operates and maintains solid propellant plants of defence and space establishments.

The company's standalone net profit surged 153% to Rs 18.42 crore, while net sales rose 71.6% to Rs 142.15 crore in Q1 FY26 over Q1 FY25.