Enter explosives
IDL Explosives is currently the GOCL company of Hinduja Group, a mature industrial-grade explosives manufacturer that mainly serves the mining and infrastructure sectors. The company had a turnover of Rs 62.3 crore in fiscal 24 and a net worth of Rs 100 crore. Its revenue has accounted for significant fluctuations in the past three years – Rs 6264 crore in fiscal 224, Rs 78163 crore in fiscal 2000 and Rs 39538 crore in fiscal 222.
Through this acquisition, Apollo aims to incorporate explosives into its defensive manufacturing pipeline. Now, it will be able to provide a wider combination of systems in the artillery, missile and high impact weapons domains.
Take over completely, no associated links
The purchase of stocks involving 7.865 million shares was Rs 136.04 respectively. Once completed, the Apollo defense will have 100% IDL explosives. The two companies confirmed that no relevant parties involved in the transaction.
IDL Explosives was founded in 2010 and operates exclusively within India. Its main business focuses on bulk explosives, and the acquisition allows Apollo to extend its coverage to critical defense components while leveraging existing industrial needs.
Apollo emphasized in a statement that the acquisition is a key step in becoming a layer I original equipment manufacturer (OEM) for weapons systems. It enhances Apollo's ability to provide integrated defense solutions, namely joint design, electronics, platforms and now explosives.
“The acquisition aims to enhance the company's manufacturing capabilities in the defense explosives sector to support the growing indigenous demand in artillery, missiles and other high-impact defense sectors,” the company said in its regulatory filing.
B Karunakar Reddy, managing director of Apollo Micro Systems, described the deal as a milestone moment for the group's defense ambitions.
“Apollo Group is proud to announce its portfolio by keeping consistency with the landmark of India’s first explosive company, a groundbreaking, Indian-owned enterprise with a remarkable legacy of over 64 years. This esteemed organization is a proud member of the world’s well-known Hindu group, making the rich share of the Hindu group and the statistical scope of the enterprise a strategy and business statistics. The unwavering commitment to advance indigenous capabilities in the defense and explosive sectors.
Apollo Micro Systems has gradually expanded its influence in India's defense and aerospace ecosystem. The group is known primarily for the electronic systems it uses in weapons platforms, and the group has been moving steadily upstream, becoming a full-stack weapon system supplier.
The acquisition of IDL marks the shift to physical and high-impact defense components. By consolidating electronics with explosive systems, Apollo bets on India’s push to become self-reliant in defense production, a driving force gained under the recent policy shift.
