1. Apollo Micro Systems acquisition - Apollo Micro Systems signed a July-2026 SPA to buy 41.33% of Premier Explosives at ₹697.52/share, with a 26% open offer at ₹698/share and closing expected by December 2026. Apollo's Navy relationships and defence-electronics capability open naval-side orders (sea mines, submarine-related) and integrated electronics-plus-energetics systems.
2. Chaffs and flares execution - The ₹430 crore October-2025 Ministry of Defence order must be delivered within twelve months, with \~two-thirds expected by end-FY27. Execution was only ₹21 crore in Q1 FY27, so the remaining \~₹400 crore lands across the next three quarters - against FY26 total revenue of ₹388 crore.
3. Export order book - Export orders stand at \~₹450 crore, including a ₹350 crore April-2026 order and a ₹33.7 crore rocket-motor order, with licenses in process and dispatches expected from Q4 FY27. Management targets ₹200 crore of export revenue in FY27 versus \~₹78 crore in FY26.
4. RDX/HMX capacity expansion - The Katepally plant expansion takes capacity from 100 to 600 tonnes, with water trials expected in September 2026 and production to follow. Management expects ₹150-200 crore of FY27 turnover from this expansion, against FY26 revenue of ₹388 crore.
5. Order book and revenue guidance - The order book is ₹1,393 crore as of August 2026, 94% defence, with management retaining FY27 revenue guidance of \~₹600 crore. That implies roughly 55% growth over FY26's ₹388 crore, with EBITDA margin guided at 15-20%.
6. Katepally mixing plant and rocket integration - A 2.5-tonne planetary mixer is installed, with the plant expected ready by end-September 2026, followed by dummy trials. This restores large rocket motor capacity for ISRO and DRDO strategic systems after the April-2025 fire, with production expected from November 2026.
7. Mines and ammunition approvals - An alternate raw material for land mines and loitering munition payloads is with DRDO for approval, with clearance expected in about six months. Clearance opens Adrushy and Ulka mines, in high demand from the Indian Army, plus medium-caliber ammunition - all previously slowed by raw material non-availability.
8. Export order flow - Export orders include ₹73 crore and ₹17.7 crore rocket motor orders, plus a ₹16.4 crore commercial explosives order, all deliverable within 12-18 months. Export licenses are being received and material is moving out of factories, with management targeting ₹200-300 crore of FY27 export revenue.
9. NIBE joint venture - Global Premier Limited, a 49% JV with NIBE's Global Munition Limited, was incorporated in March 2025 to make rocket warheads, with the aim of supplying full rockets. TOTs from DRDO are in process, with production expected in 1.5-2 years.
10. Bulk explosives stabilisation - The Singareni Collieries contract has \~₹25-30 crore of balance execution in FY27, with FY27 revenue expected close to last year's \~₹80 crore. A new Coal India tender is expected in July 2027, which would restart two idle plants.