Apollo Defence Industries Pvt Ltd, a key subsidiary of Apollo Micro Systems Ltd, has taken a big step in strengthening India’s defence sector. The company has acquired IDL Explosives Ltd in an all-cash deal worth Rs 107 crore. This move is expected to expand Apollo’s capabilities and bring new energy for India’s push towards self-reliance in defence production.
IDL Explosives Ltd, part of the Hinduja Group, is one of India’s oldest and most trusted names in the explosives industry. With a strong legacy of 64 years, the company has produced both packaged and Bulk explosives used in mining and infrastructure. In FY24, IDL reported a revenue of Rs 623 crore. up from Rs 395.38 crore in FY22. Its current net worth stands at Rs 10 crore. This strong performance and solid reputation make it a valuable addition to Apollo Defence’s portfolio.
Apollo Buys 100% Stake to Become Explosives OEM
Apollo Defence completed the acquisition by purchasing 78.65 lakh shares at Rs 136.04 each. This makes Apollo the full owner of IDL Explosives, marking a significant move toward becoming a Tier-I Original Equipment Manufacturer (OEM) for defence systems. With this deal, Apollo now gains complete control over explosives production, allowing the company to deliver more integrated and advanced defence solutions combining electronics, platforms, and now munitions.
Apollo Micro Systems’ Managing Director B Karunakar Reddy highlighted the acquisition’s importance in line with the national vision of Atmanirbhar Bharat. He called it a landmark achievement that combines decades of experience and positions Apollo Defence as a full-spectrum defence player. He also emphasized how the combined strengths of the two companies would lead to innovation and increased national capability in defence manufacturing.
Explosives Market Set to Grow Globally By 2029
The global explosives market is expected to grow to USD 9.37 billion by 2029, driven by rising defence needs in countries like India, China, the US, and Russia. With this acquisition, Apollo is now better placed to lead in this growing sector. The company plans to tap into new opportunities and expand its footprint in both domestic and global defence markets.
This acquisition not only strengthens Apollo Defence’s position in the defence ecosystem but also signals a new era of innovation, capability, and national pride in India’s defence journey.
