Apollo Micro Systems Strengthens Defence Portfolio with ₹134 Crore Order Win and Strategic Acquisition
Apollo Micro Systems Ltd has further strengthened its position in India's defence manufacturing sector by securing fresh orders worth ₹134.35 crore from the Defence Research and Development Organisation (DRDO), the Indian Navy, defence public sector undertakings (PSUs), a state government and private sector clients.
In addition, its step-down subsidiary, IDL Explosives Ltd, has received work orders worth ₹55.22 crore, which are expected to be executed over the next two years, enhancing the group's order visibility. The latest order win follows a major strategic move by the company, which recently signed an agreement to acquire a 41.33% stake in Premier Explosives Ltd from the promoter group for ₹1,550 crore through the purchase of 2.22 crore equity shares.
The acquisition, funded through cash consideration, will give Apollo Micro Systems control of Premier Explosives and expand its capabilities across the explosives and defence manufacturing value chain. As per SEBI takeover regulations, the open offer price has been fixed at ₹698 per share.
The company believes this strategic expansion will support its vision of building an integrated, end-to-end indigenous defence manufacturing ecosystem in line with the Aatmanirbhar Bharat and Make in India initiatives, while strengthening its presence in energetic materials, space programmes and advanced defence technologies.