Apollo Defence Industries Acquires IDL Explosives for INR 107 Cr
The acquisition marks a strategic milestone as Apollo Defence becomes the 100% owner of an Indian-owned explosives company.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Apollo Defence Industries Pvt Ltd, a subsidiary of Apollo Micro Systems Ltd, has taken a major leap in India's defence manufacturing space by acquiring IDL Explosives Ltd in an all-cash deal worth INR 107 crore.
The acquisition marks a strategic milestone as Apollo Defence becomes the 100% owner of the country's first Indian-owned explosives company.
IDL Explosives, a part of the Hinduja Group, has a 64-year legacy in manufacturing a comprehensive range of packaged and bulk explosives for mining and infrastructure sectors. The company reported a turnover of INR 623 crore in FY24, with steady growth from INR 395.38 crore in FY22, and has a net worth of INR 10 crore.
The transaction includes the purchase of 78.65 lakh equity shares at INR 136.04 per share. With this acquisition, Apollo Defence moves closer to its vision of becoming a Tier-I Original Equipment Manufacturer (OEM) for weapon systems. The deal enhances its ability to offer integrated defence solutions by combining expertise in electronics, platforms, and now explosives.
B Karunakar Reddy, Managing Director of Apollo Micro Systems, said: "Apollo Group is proud to announce a significant enhancement to its portfolio through a landmark alignment with India's first explosive company with a distinguished legacy of over 64 years. This acquisition opens up new routes towards vertical integration and full-spectrum capability enablement... Together we are poised to unleash the next chapter in the Spirit of Atmanirbhar Bharat, serving our great nation with innovation, strength & pride."
The global explosives market is forecasted to grow to USD 9.37 billion by 2029 at a CAGR of 8.8%, driven by rising defence spending in countries like India, the US, China, and Russia. Apollo's acquisition of IDL Explosives positions the company at the forefront of this expanding sector, unlocking new growth and innovation opportunities.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Wall Street Journal
an hour ago
- Wall Street Journal
Philippine Peso, Korean Won, Thai Baht More Vulnerable to Further Oil-Price Spikes
0217 GMT — The Philippine peso, Korean won and Thai baht are more vulnerable in Asia to further oil-price spikes, four members of MUFG Bank's Global Markets Research say in a note. They cite the bank's analysis of how oil-price increases could affect Asia's foreign-exchange markets. MUFG Bank's scenario analysis shows an oil-price increase of $10/bbl would reduce Asia's current account positions by 0.2% to 0.9% of GDP. The scenario analysis also shows that Asia's CPI will likely rise by 0.1 to 0.8 percentage point for every $10/bbl increase in oil prices. USD/PHP rises 0.8% to 57.56, USD/KRW adds 0.6% to 1,380.73 and USD/THB is 0.5% higher at 32.95, LSEG data show. ( 0125 GMT — The dollar strengthens against most other G-10 and Asian currencies in the morning session after the U.S. strikes on Iran's nuclear sites over the weekend. 'The USD lifts because the USD is a safe haven and the U.S. is a net energy exporter,' CBA's Global Economic & Markets Research team says in a note. 'How high the USD lifts is now in the hands of political and military leaders in the U.S., Israel and Iran,' the team adds. The ICE USD Index is up 0.4% to 99.06, USD/KRW adds 0.7% to 1,383.73, and AUD/USD falls 0.4% to 0.6427, according to FactSet data. (
Business Upturn
an hour ago
- Business Upturn
Top Stocks in focus on June 23: ONGC, Oil India, NTPC, India Cements, Bharat Electronic, Brigade Enterprises and more
By Aman Shukla Published on June 23, 2025, 08:27 IST Indian benchmark indices ended Friday, June 21, on a strong note, snapping their recent losing streak. The BSE Sensex rose 1,046 points (1.29%) to close at 82,408, while the NSE Nifty50 added 319 points (1.29%) to settle at 25,112. As the markets open on Monday, June 23, several corporate announcements and regulatory updates are expected to influence trading activity. Here's a quick look at the key stocks likely to remain in focus: Accenture : Reported better-than-expected Q3 revenue and projected 6–7% revenue growth for FY25, along with a 10 basis points margin expansion. HDFC Bank / ICICI Bank / Axis Bank : Removed from the Odisha government's list of empanelled banks. ONGC / Oil India / OMCs / Paint Companies : Crude oil prices climbed over 2% following U.S. airstrikes in Iran. Brent crude moved above $78 per barrel. NTPC : Announced commercial operation of the final 52 MW unit of its 245 MW Nokh Solar PV Project in Rajasthan. Small Finance Banks : The RBI has revised the priority sector lending norm, reducing the required net credit exposure from 75% to 60%. Granules India : Received a Form 483 with one observation from the US FDA for its Sangareddy API Unit-I. Godrej Properties : Sold over ₹2,000 crore worth of inventory at the launch of its Godrej MSR City project in Bengaluru. Bharat Electronics Ltd (BEL) : Secured orders worth ₹585 crore since June 5, 2025. India Cements : To sell its entire stake in ICML to Mirai Sensing for ₹98 crore. Brigade Enterprises : Launched Morgan Heights in Chennai, with an estimated development potential of ₹2,100 crore. Waaree Renewable Technologies : Revised the order value of its 2012.47 MWp solar project upward by ₹246.92 crore. Bajel Projects : Received an order valued at over ₹400 crore for an ultra mega power transmission project. NLC India : Received a Letter of Award from TN Green Energy for three battery energy storage systems (250 MW/500 MWh) on a BOO basis. Zen Technologies : To acquire a majority stake in TISA Aerospace for ₹6.56 crore. Lloyds Metals : Commissioned a 4 MTPA pellet plant and an 85 km slurry pipeline. EMS Ltd. : Declared as the lowest bidder for a ₹104 crore project from UP Jal Nigam (Urban). Interarch Building Products : Secured an ₹80 crore order from Ather Energy. Emcure Pharmaceuticals : To acquire the remaining stake in its subsidiary, Zuventus Healthcare. Yes Bank : Received ₹201 crore as a one-time settlement from a non-performing asset. Embassy Developments : Signed a joint development agreement for a 17.9-acre land parcel in Bengaluru with an estimated gross development value of ₹1,600 crore. LT Foods : The U.S. has imposed a 340.7% duty on organic soybean meal exports by its subsidiary. Unichem Laboratories : Received three observations from the US FDA for its Roha API facility. Metropolis Healthcare / Dr. Lal PathLabs: Amazon India introduced an at-home diagnostics service through its mobile app. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Upturn
an hour ago
- Business Upturn
Accenture guidance lift reinforces CLSA's bullish view on Indian IT; Infosys, Tech Mahindra, Persistent top picks
By News Desk Published on June 23, 2025, 08:31 IST CLSA has reiterated its positive outlook on Indian IT services, following Accenture's decision to raise its FY25 organic growth guidance to 3–4%, citing strong traction in Gen AI, cloud, and digital transformation services. The brokerage noted that Accenture's market share gains are being driven by the integration of Gen AI across its offerings, with cognitive solutions being actively developed for multiple global clients. This momentum, according to CLSA, has strengthened the booking pipeline and supports the upgraded guidance. CLSA also pointed out that BFSI growth remains resilient, a trend which mirrors the performance of Indian IT companies in the sector. Given these developments, the brokerage has reaffirmed its overweight (OW) stance on the Indian IT portfolio, excluding LTIMindtree. Among the top picks in the sector, CLSA has listed Infosys, Tech Mahindra, and Persistent Systems, viewing them as best positioned to benefit from the ongoing digital shift and AI-led enterprise transformation. Disclaimer: The views expressed in this article are those of the brokerage firm and do not represent the views of this publication. Investors are advised to consult certified financial advisors before making any investment decisions. Ahmedabad Plane Crash News desk at
