Premier Explosives on Thursday said it has received licence from the Chief Controller of Explosives, Nagpur, for manufacture of solid propellant at its Katepally factory, near Hyderabad.

The licence will enable the company to manufacture solid propellants of larger size at its greenfield project, it further said. Shareholders of Premier Explosives will closely monitor the development.

The company had reported a profit of ₹11.73 crore on revenues of ₹240.93 crore for FY19.