Apollo Micro Systems has secured new orders worth Rs 134.35 crore from the Defence Research and Development Organisation (DRDO), the Indian Navy, defence public sector undertakings (PSUs), state government departments and private sector companies.
Apollo Micro Systems said in regulatory filing that these orders were awarded in the ordinary course of its business.
Apollo Micro Systems’s Step-down subsidiary also secures contracts
Apollo Micro Systems’s step-down subsidiary, IDL Explosives, has won additional orders worth Rs 55.22 crore. The contracts will be executed over a period of two years.
With these fresh wins, the combined value of orders secured by Apollo Micro Systems and its step-down subsidiary stands at Rs 189.56 crore.
About Apollo Micro System
Apollo Micro Systems, a 41-years-old pioneer in defence technology, specializes in the design, development, and manufacture of advanced electronic, electro-mechanical, and engineering systems.
The company claims to equipped with multi-domain, multidisciplinary capabilities and robust infrastructure to build cutting-edge defence technologies and produce them at scale for national strategic needs.
Earlier this month, Apollo Micro Systems announced the acquisition of a 41.33% promoter stake in Premier Explosives for Rs 1,550 crore in an all-cash deal, marking one of the biggest consolidation moves in India’s private defence sector.
Through the acquisition, Apollo aimed to combine its expertise in defence electronics with Premier Explosives’ capabilities in high-energy materials, rocket motors and munitions, strengthening its presence across the defence and space manufacturing value chain while creating a vertically integrated indigenous defence company.
Apollo Micro Systems share price
The share price of Apollo Micro Systems have gained 71.79% in past three month. On year-to-date (YTD) basis, Apollo Micro Systems gained 46.72%.