A process is provided for the preparation of dibasic propellant charge powder by a solvent-free process, in which a continuous flow of raw powder mixture moist with water is kneaded at an elevated temperature in a set of shearing rollers, to which the raw powder mixture is continuously supplied and at one end of which the gelatinized mass is continuously removed and immediately continuously granulated. The resulting granulate is continuously delivered to an extruder by means of which it is moulded into powder strands which are worked up into the finished powder by cutting and an end treatment. The process requires only small quantities of powder within the kneading equipment and thus provides a safe and efficient continuous manufacturing facility.