Apollo Micro Systems’ step-down subsidiary, IDL Explosives, has secured fresh orders worth Rs 420.9 crore.
According to the company’s BSE filing, the company has been granted a running contract (RC) for the supply of bulk explosives to subsidiaries of Coal India, valued at Rs 419.4 crore. A running contract allows supplies to be made on a recurring basis as per demand during the contract period.
Export order adds to order book
In addition to the domestic order, IDL Explosives has also received an export order worth Rs 1.5 crore for the supply of cartridge explosives.
With this, the total value of orders received stands at Rs 420.9 crore.
“IDL Explosives, a step- down subsidiary of the Company in the ordinary course of its business has been granted a Running Contract (RC) for supply of bulk explosives to Subsidiaries of Coal India amounting to Rs 4193.96 Million and an export order value of Rs 15 Million for supply of cartridge explosives,” Apollo Micro Systems said in the release.
According to the company’s BSE filing, the company has been granted a running contract (RC) for the supply of bulk explosives to subsidiaries of Coal India, valued at Rs 419.4 crore. A running contract allows supplies to be made on a recurring basis as per demand during the contract period.
Export order adds to order book
In addition to the domestic order, IDL Explosives has also received an export order worth Rs 1.5 crore for the supply of cartridge explosives.
With this, the total value of orders received stands at Rs 420.9 crore.
“IDL Explosives, a step- down subsidiary of the Company in the ordinary course of its business has been granted a Running Contract (RC) for supply of bulk explosives to Subsidiaries of Coal India amounting to Rs 4193.96 Million and an export order value of Rs 15 Million for supply of cartridge explosives,” Apollo Micro Systems said in the release.
Apollo Micro Systems Rs 100 crore defence order
Earlier this month, the company had received an orders worth Rs 100.25 crore by a private company for the supply of Unmanned Aerial Systems, which will be delivered to the Ministry of Defence. Orders are scheduled to be executed within four months
Share price of Apollo Micro Systems
The share price of Apollo Micro Systems rose 4.23% in Wednesday’s trade. On a YTD basis, the stock has gained 124.41% so far this year.