Shares of Apollo Micro Systems Ltd climbed nearly 3% in Thursday’s trading session, after the company announced that its subsidiary, Apollo Defense Industries, has entered into a new contract with a private company.
According to an exchange filing, Apollo Defense Industries Private Limited has secured a contract worth ₹150 crore in the ordinary course of business.
“This is to inform you that Apollo Defense Industries Private Limited, a subsidiary unit of Apollo Micro Systems Ltd, has entered into an agreement with a private company for execution of a contract worth ₹1,500 million,” the company said in its regulatory disclosure.
Following the announcement, Apollo Micro Systems shares rose as much as 2.95% to ₹279.55 apiece during the session.
Multiple order wins boost momentum
Earlier this week, the company informed stock exchanges that its step-down subsidiary, IDL Explosives Limited, had secured a running contract worth ₹419.39 crore for the supply of bulk explosives to subsidiaries of Coal India Limited. In addition, IDL Explosives also received an export order valued at ₹1.5 crore for the supply of cartridge explosives.
“The cumulative value of orders received amounts to ₹420.89 crore,” the company said in a separate filing.
Last week, on December 26, Apollo Micro Systems also disclosed that it had won a ₹100.25 crore order from a private entity for the supply of Unmanned Aerial Systems (UAS) to the Ministry of Defence.
Order book position
With these latest contracts, Apollo Micro Systems continues to strengthen its order pipeline. The company’s order book stood at ₹7,850 crore at the end of the September quarter, providing visibility on future revenue execution.
Quick Read
Stock movement: Up nearly 3%
Key trigger: ₹150 crore contract secured by Apollo Defense
Other recent wins:
- ₹419.39 crore Coal India bulk explosives order
- ₹1.5 crore export order
- ₹100.25 crore UAS order for Defence
Order book: ₹7,850 crore (as of September quarter)
Disclaimer : This article is for informational purposes only and does not constitute investment advice. Stock prices are subject to market risks and depend on multiple factors, including order execution and broader market conditions.
