2025-05-05 12:01:33 pm | Source: PR Agency
Apollo Micro Systems subsidiary Apollo Defence Industries Private Limited (ADIPL) acquires 100% equity shareholding of IDL Explosives Limited for Rs 107 crs
* IDL specializes in bulk explosives for mining & infrastructure, with Rs 623 Cr FY24 turnover.
* Deal enhances Apollo's defence explosives manufacturing for artillery, missiles & high-impact domains.
* IDL's net worth is Rs 10 Cr (FY24) while the 3-year turnover stood at Rs 62,264 LK (2024), Rs 78,163 Lk (2023), Rs 39,538 Lk (2022).
* Transaction expected to close in 2-3 months, no related party involvement.
* IDL incorporated in 2010, operates domestically in India.
B Karunakar Reddy, Managing Director, Apollo Micro Systems highlights that, "Apollo Group is proud to announce a significant enhancement to its portfolio through a landmark alignment with India's first explosive company - a pioneering, Indian-owned enterprise with a distinguished legacy of over 64 years. This esteemed organization, a proud member of the globally renowned Hinduja Group, brings unparalleled expertise and heritage to the partnership. The strategic move underscores Apollo's unwavering commitment to advancing indigenous capabilities in the defense and explosives sectors. Together we are poised to unleash the next chapter in the Spirit of Atmanirbhar Bharat, serving our great nation with innovation, strength & pride."
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