NIBE Secures Rs 2.93 Billion Defence Order From Indian Army

07 Jan 2026 CW Team

NIBE has secured a domestic defence contract worth Rs 2.93 billion from the Indian Army under the Ministry of Defence, marking a significant order win for the company’s defence manufacturing business.

The contract involves the manufacture and supply of ground equipment, accessories, electronic system packages and ammunition for a Universal Rocket Launcher System. The system is designed to integrate multiple rocket types, including long-range variants with strike capabilities of 150 km and 300 km.

Under the agreement, NIBE is required to submit a performance-cum-warranty bank guarantee equivalent to 10 per cent of the total contract value within 30 days of signing. The project will be executed in tranches over a 12-month period, with the contract value inclusive of all applicable taxes and duties.

The company stated that the order was awarded by a domestic entity and does not involve any related-party transactions. It added that neither the promoters nor promoter group entities have any interest in the awarding authority.

NIBE operates across defence manufacturing, electric vehicle systems and software development, with capabilities spanning fabrication, machining and assembly of critical components. Despite the order win, the company reported a consolidated net loss of Rs 84.4 million in Q2FY26, compared with a net profit of Rs 91.2 million in Q2FY25. Revenue for the quarter declined 46.04 per cent year-on-year to Rs 733.7 million.

Following the announcement, shares of NIBE rose 9.21 per cent to close at Rs 1,240.25 on the BSE on 2 January 2026.

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