The company informed exchanges on Wednesday that the orders were awarded in the ordinary course of business and span multiple defence and government projects. Separately, its step-down subsidiary IDL Explosives Ltd has secured work orders worth ₹55.22 crore, which will be executed over the next two years.
Despite the announcement, shares of Apollo Micro Systems pared early gains and were trading largely flat at ₹404.85 on the NSE as of 2:32 pm.
Expansion gathers pace
The latest order win comes just days after Apollo Micro Systems announced one of its biggest strategic moves to date. Last week, the company signed a Premier Explosives Ltd to acquire a 41.33% stake in Premier Explosives Ltd
from the promoter group for ₹1,550 crore.
The acquisition, involving the purchase of 2.22 crore equity shares, will give Apollo Micro Systems control of Premier Explosives and significantly strengthen its presence in the explosives and defence manufacturing value chain.
The company said the transaction aligns with its ambition of building an integrated, end-to-end indigenous defence manufacturing ecosystem under the Aatmanirbhar Bharat and Make in India initiatives. The acquisition will be funded through cash consideration, with the open offer price fixed at ₹698 per share in accordance with SEBI’s takeover regulations.
Also Read: Premier Explosives targets ₹600-700 crore FY27 revenue after Apollo Micro Systems stake acquisition
Commenting on the acquisition, Managing Director Baddam Karunakar Reddy said it would strengthen India’s defence manufacturing capabilities and deepen the company’s expertise in energetic materials and space programmes.
“Together, we are better positioned to safeguard national security interests and support our armed forces with greater scale, resilience and technological self-reliance,” he said.
