This is the second order in two days. On December 31, the company secured an order worth about Rs 420 crore, including a large contract from a subsidiary of Maharatna PSU Coal India.
In an exchange filing earlier in the day, Apollo Micro Systems said its step-down subsidiary, IDL Explosives Limited, has secured a running contract for the supply of bulk explosives to subsidiaries of Coal India Limited. The value of this contract stands at Rs 419.39 crore. In addition, IDL Explosives has also received an export order worth Rs 1.5 crore for the supply of cartridge explosives.
The company said the cumulative value of the orders received by IDL Explosives amounts to Rs 420.89 crore. The orders have been awarded in the ordinary course of business and further expand the company’s footprint in the explosives and defence-related segments.
The latest order wins comes close on the heels of another significant announcement made by the company last week. On December 26, Apollo Micro Systems disclosed that it had bagged an order worth Rs 100.25 crore from a private company for the supply of Unmanned Aerial Systems, with the end user being the Ministry of Defence.
Earlier this month, the company announced a strategic greenfield expansion in Telangana aimed at scaling up its defence manufacturing capabilities. The expansion, to be undertaken along with its subsidiaries, is expected to strengthen the company’s position in India’s defence manufacturing ecosystem.
The project involves setting up new manufacturing facilities for the production and filling of missile warheads, rocket motors, and small-, medium- and large-calibre artillery systems and ammunition. The facilities will also support the development of complete ammunition systems for artillery, rockets and other armaments.The expansion is among the largest undertaken by the company to date and is intended to enhance its ability to meet rising demand from domestic as well as international markets, as India steps up efforts to build a stronger indigenous defence manufacturing base.
The stock has been a strong performer in 2025 amid a broad-based rally in defence-related names. Apollo Micro Systems, a small-cap defence player, has delivered multibagger returns, with its shares rising 125% in 2025 and 2,100% in 5 years.
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