Shares of Premier Explosives Limited declined by over 12% on Wednesday following a fire and explosion at the company’s manufacturing unit in Telangana. As of 11:29 AM, the shares were trading 12.11% lower at Rs 410.70.
The incident occurred around 4:55 PM on April 29, 2025, at the propellant mixing building in the Katepally Village facility, located in Motakondur Mandal, Yadadri-Bhongir District. The explosion resulted in the deaths of three workers and injuries to six others, who were immediately transported to a nearby hospital for treatment.
In an official filing, Premier Explosives expressed regret over the loss of lives and stated that emergency response measures were initiated under the direct supervision of the company’s Directors and senior management. The quick action reportedly helped limit the extent of damage to other areas of the facility.
The cause of the explosion is under investigation. The company has assured full cooperation with regulatory and law enforcement authorities to assist in the inquiry.
Premier Explosives also confirmed that the damaged building and machinery are covered under insurance policies, and efforts are underway to evaluate the total financial impact.
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