Apollo Micro Systems’ subsidiary ADIPL acquires IDL Explosives for ₹107 crore, expanding into defence explosives manufacturing to support India’s Atmanirbhar Bharat mission in artillery & missile systems.
Apollo Defence Strengthens Arsenal with Strategic IDL Explosives Takeover
Hyderabad – In a strategic move to bolster India’s defence indigenization, Apollo Micro Systems Limited (through its subsidiary Apollo Defence Industries Pvt Ltd – ADIPL) has acquired 100% of IDL Explosives Limited from Hinduja Group’s GOCL Corporation in an all-cash ₹107 crore deal.
Deal Highlights
✔ Transaction Value: ₹107 crore (78.65 lakh shares at ₹136.04/share)
✔ Expected Completion: Within 2-3 months (pending approvals)
✔ IDL’s FY24 Revenue: ₹623 crore (Net worth: ₹10 crore)
✔ No Related Parties Involved – Clean ownership transfer
Why This Acquisition Matters?
- Vertical Integration: Apollo adds explosives manufacturing to its defence electronics expertise.
- Atmanirbhar Bharat Push: Supports India’s goal of self-reliance in critical defence components.
- Portfolio Expansion: Now covers artillery shells, missiles & high-impact weapons.
- Industrial Synergy: IDL’s mining explosives expertise adaptable to defence applications.
Strategic Vision
B Karunakar Reddy, MD, Apollo Micro Systems:
*”This acquisition aligns with our vision to become a Tier-1 OEM for integrated weapon systems. IDL’s 64-year legacy in explosives will accelerate our Atmanirbhar Bharat mission.”*
IDL Explosives at a Glance
| Metric | Details |
|---|---|
| Established | 2010 |
| Core Business | Bulk explosives for mining/infrastructure |
| FY24 Revenue | ₹623 crore |
| Past Revenue | ₹78 cr (FY23), ₹39.5 cr (FY22) |
Apollo’s Defence Roadmap
- Phase 1: Electronics for weapons systems
- Phase 2: Add explosives (post-IDL acquisition)
- Future Goal: End-to-end missile/artillery platform supplier
Industry Impact
- Reduces import dependence for military-grade explosives
- Strengthens private sector role in defence manufacturing
- Creates synergies between civilian & defence explosives tech
