Apollo Micro Systems Secures Rs 2.13 Billion Defence Orders

10 Aug 2026 CW Team

The firm was empanelled by the Indian Air Force as a Prime Development Agency for the Indigenous Precision Range Extension Kit under the Make-II category of the Defence Acquisition Procedure 2020. The programme envisages a guidance kit to convert the air force's 500 kilogram (kg) unguided bombs into long range precision glide weapons that can be released from beyond 80 kilometres. The company said empanelment does not amount to a commercial contract.

The company noted revenue from the programme would accrue only after issuance of a Project Sanction Order and a subsequent procurement contract. The latest order follows contracts won in July worth Rs 134.35 crore (Rs 1.3435 billion (bn)) from the DRDO, the Indian Navy, defence PSUs, a state government and private clients. Separately, step down subsidiary IDL Explosives Ltd received work orders amounting to Rs 55.22 crore (Rs 552.2 million (mn)) to be executed over the next two years. These awards form part of a broader expansion across the defence manufacturing value chain.

Last month the company agreed to acquire a 41.33 per cent stake in Premier Explosives for Rs 1,550 crore (Rs 15.5 billion (bn)), covering 2.22 crore equity shares (22.2 million (mn)). The acquisition is intended to expand Apollo Micro Systems' presence in explosives and defence manufacturing under Aatmanirbhar Bharat and Make in India initiatives. Shares were trading at Rs 399, up zero point two per cent, and the stock has gained nearly 45 per cent in 2026 and about 123 per cent over the last 12 months.

Apollo Micro Systems said it has secured fresh orders worth Rs 213.39 crore (Rs 2.1339 billion (bn)) from the Defence Research and Development Organisation, Defence public sector undertakings and private sector companies. The company told an exchange filing that the orders were received in the ordinary course of business and did not provide a detailed contract breakup or execution timelines. The award follows other defence wins the firm has disclosed to investors. Commercial and timing details remain unspecified. The firm was empanelled by the Indian Air Force as a Prime Development Agency for the Indigenous Precision Range Extension Kit under the Make-II category of the Defence Acquisition Procedure 2020. The programme envisages a guidance kit to convert the air force's 500 kilogram (kg) unguided bombs into long range precision glide weapons that can be released from beyond 80 kilometres. The company said empanelment does not amount to a commercial contract. The company noted revenue from the programme would accrue only after issuance of a Project Sanction Order and a subsequent procurement contract. The latest order follows contracts won in July worth Rs 134.35 crore (Rs 1.3435 billion (bn)) from the DRDO, the Indian Navy, defence PSUs, a state government and private clients. Separately, step down subsidiary IDL Explosives Ltd received work orders amounting to Rs 55.22 crore (Rs 552.2 million (mn)) to be executed over the next two years. These awards form part of a broader expansion across the defence manufacturing value chain. Last month the company agreed to acquire a 41.33 per cent stake in Premier Explosives for Rs 1,550 crore (Rs 15.5 billion (bn)), covering 2.22 crore equity shares (22.2 million (mn)). The acquisition is intended to expand Apollo Micro Systems' presence in explosives and defence manufacturing under Aatmanirbhar Bharat and Make in India initiatives. Shares were trading at Rs 399, up zero point two per cent, and the stock has gained nearly 45 per cent in 2026 and about 123 per cent over the last 12 months.

Infrastructure Transport

10 Aug 2026

Fadnavis Urges Completion Of Metro Projects Within Three Years

Maharashtra Chief Minister Devendra Fadnavis has directed officials to ensure that all metro rail projects in the state are completed within three years from the start of construction as the government accelerates expansion of its urban rapid transit network. Chairing the state cabinet’s Infrastructure Committee, he said the expansion in Mumbai, Pune, Nagpur and the Mumbai Metropolitan Region will strengthen safe, fast and environment-friendly public transport and support future urban growth. An official statement said the state currently has 174 km of operational metro corridors, while 291 ..

Infrastructure Urban

10 Aug 2026

Vedanta Aluminium Raises Rs 135 bn Loan After Demerger

Vedanta Aluminium Metal Ltd has raised Rs 135 bn from a syndicate of banks, marking the first significant local currency loan for the business since the Vedanta Group split into separately listed firms. The financing was arranged with Axis Bank Ltd, HDFC Bank Ltd and ICICI Bank Ltd involved, and reflects efforts to establish independently financed entities following a court-approved demerger. Axis Bank signed a loan agreement supplying Rs 55 bn, while HDFC Bank and ICICI Bank will together provide about Rs 80 bn. Lenders are expected to syndicate portions of the facility with Axis Bank launchi..

Infrastructure Transport

10 Aug 2026

Airbus Selects Aerolloy To Supply Titanium Castings

Airbus has selected Aerolloy Technologies, a wholly owned subsidiary of PTC Industries (PTC), to develop, qualify and supply titanium castings for the A320neo, A330neo and A350 aircraft programmes. The agreement establishes the development, qualification and industrialisation pathway for Aerolloy to progress into production supply, subject to the successful completion of Airbus qualification and programme requirements. The selection marks a significant milestone for the Indian manufacturer in the global commercial aerospace supply chain and follows Airbus's evaluation process. Under the agreem..