Apollo Micro Systems, through its subsidiary Apollo Defence Industries, is set to buy IDL Explosives Limited for ₹107 crore in a cash deal. This news was announced on May 2, 2025, and the deal should complete in two to three months, pending approvals.
IDL Explosives, currently part of the Hinduja Group, makes industrial-grade explosives mainly for mining and construction. In the last fiscal year (FY24), the company made ₹623 crore, but its earnings have varied a lot over the past three years: ₹623 crore in FY24, ₹781 crore in FY23, and ₹395 crore in FY22.
By acquiring IDL, Apollo wants to add explosives to its defence products. This will allow them to create a wider range of systems for artillery, missiles, and powerful weapons.
In this deal, Apollo will buy 78.65 lakh shares at ₹136.04 each, giving it full ownership of IDL Explosives. The two companies have confirmed that no other parties are involved in this transaction.
IDL Explosives has been around since 2010 and only operates in India. This buy will help Apollo reach into important defence areas while meeting current industrial demands.
Apollo believes that this purchase is essential to becoming a leading manufacturer of weapon systems. It will help them provide complete defence solutions by combining design, electronics, and explosives.
B Karunakar Reddy, the Managing Director of Apollo Micro Systems, called this deal a big step for the company’s defence goals. He emphasized the importance of supporting India’s self-reliance in defence production.
Apollo Micro Systems has gradually expanded its role in India’s defence and aerospace sectors, moving towards becoming a comprehensive supplier of weapon systems. The acquisition of IDL marks a significant shift, allowing them to combine electronics with explosive systems, aligning with India’s recent policy changes promoting self-reliance in defence manufacturing.
Leave a Reply