The Hindu Business Line : Premier Explosives plans solar, wind power entry

Hyderabad, Nov. 5 Premier Explosives Ltd (PEL), an indigenous technology and component provider to the country’s strategic sectors, is mulling options of entering the renewable energy areas of solar and wind.

The Hyderabad-based private sector company, which is the main supplier of solid propellants to the country’s missiles, has taken a step in that direction by commissioning a 800-kW Wind Energy Generator (WEG) unit at Kozhumankundan village in Palani taluk, Dindigul district of Tamil Nadu.

The company is in talks with firms in the solar energy business. It has near its factory on the outskirts of Hyderabad a couple of hundred acres that can be used for solar power and manufacturing, said Mr A. N. Gupta, Chairman and Managing Director.

Defence Projects

Premier Explosives, which is basically in the explosives and power sector, has established key strengths in making solid propellants for the country’s missile systems. It has already contributed significantly in the development of some of the Agni and the Akash missiles.

Mr Gupta said the Defence sector provides good and growing opportunities to the listed company. It is also executing indigenous projects for the Indian Navy and Air Force in key areas.

He said the Defence procurement policy and the offset policy of the Union Ministry of Defence could open up a large market for Indian companies.

The company’s net sales (including from explosives) for the quarter ended September 30 were Rs 20.41 crore (Rs 13.11 crore) and the net profit was Rs 109.90 lakh (Rs 71.08 lakh), according to the unaudited financial results.

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