The explosives included about 10,000 detonators, 75 electronics detonators and 123 bundles of fuse wires of the length about 2595 feet used mainly in blasting, police said.
One person was arrested for illegal possession of the explosives in his house, Superintendent of Police Prateek Mohanty said.
The man was being interrogated to know the source of such explosives and the purpose of storing them.
Police, however, ruled out the possibility of the explosives being stocked for future supply to Maoists.
"We don't think so. But we'll probe the matter from different angles," the SP said.
Acting on a tip-off, a police team raided the house of Kora Sethi in the morning and located the explosives.
Police said Sethi had been arrested at least three times earlier for stocking explosives in his house. He had been doing such illegal business after being released on bail, police said.
"We'll now investigate the sources of the procurement and destination of the supply," police said.
