Apollo Micro Systems Secures Rs 2.13 Billion Defence Orders

The firm was empanelled by the Indian Air Force as a Prime Development Agency for the Indigenous Precision Range Extension Kit under the Make-II category of the Defence Acquisition Procedure 2020. The programme envisages a guidance kit to convert the air force's 500 kilogram (kg) unguided bombs into long range precision glide weapons that can be released from beyond 80 kilometres. The company said empanelment does not amount to a commercial contract.

The company noted revenue from the programme would accrue only after issuance of a Project Sanction Order and a subsequent procurement contract. The latest order follows contracts won in July worth Rs 134.35 crore (Rs 1.3435 billion (bn)) from the DRDO, the Indian Navy, defence PSUs, a state government and private clients. Separately, step down subsidiary IDL Explosives Ltd received work orders amounting to Rs 55.22 crore (Rs 552.2 million (mn)) to be executed over the next two years. These awards form part of a broader expansion across the defence manufacturing value chain.

Last month the company agreed to acquire a 41.33 per cent stake in Premier Explosives for Rs 1,550 crore (Rs 15.5 billion (bn)), covering 2.22 crore equity shares (22.2 million (mn)). The acquisition is intended to expand Apollo Micro Systems' presence in explosives and defence manufacturing under Aatmanirbhar Bharat and Make in India initiatives. Shares were trading at Rs 399, up zero point two per cent, and the stock has gained nearly 45 per cent in 2026 and about 123 per cent over the last 12 months.