Apollo Micro Systems acquired a 100% stake in IDL Explosives for ₹107 crore in an all-cash deal.
The deets: Apollo Micro Systems builds advanced electronic systems for India’s defense, aerospace, and space sectors. IDL Explosives, on the other hand, manufactures industrial and military-grade explosives used in mining, infrastructure, and defense applications.
The why: with this deal, Apollo plans to integrate explosives into its defense product line. It can now develop and offer a broader range of systems used in missiles, heavy artillery, and high-impact weapons.
The move also opens the door to drone-based systems, warheads, and autonomous weapons. It improves Apollo’s chances of landing large-scale, high-budget defense contracts.
By the numbers: IDL Explosives reported ₹623 crore in revenue for FY24. Apollo Micro Systems clocked a ₹32 crore profit and ₹372 crore revenue in FY25. The company expects the global explosives market to grow at 8.8% CAGR, reaching $9.37 billion by FY29.
Apollo’s stock jumped 7% after the deal was announced.
