Apollo Defence Industries Acquires IDL Explosives for INR 107 Cr
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Apollo Defence Industries Pvt Ltd, a subsidiary of Apollo Micro Systems Ltd, has taken a major leap in India's defence manufacturing space by acquiring IDL Explosives Ltd in an all-cash deal worth INR 107 crore.
The acquisition marks a strategic milestone as Apollo Defence becomes the 100% owner of the country's first Indian-owned explosives company.
IDL Explosives, a part of the Hinduja Group, has a 64-year legacy in manufacturing a comprehensive range of packaged and bulk explosives for mining and infrastructure sectors. The company reported a turnover of INR 623 crore in FY24, with steady growth from INR 395.38 crore in FY22, and has a net worth of INR 10 crore.
The transaction includes the purchase of 78.65 lakh equity shares at INR 136.04 per share. With this acquisition, Apollo Defence moves closer to its vision of becoming a Tier-I Original Equipment Manufacturer (OEM) for weapon systems. The deal enhances its ability to offer integrated defence solutions by combining expertise in electronics, platforms, and now explosives.
B Karunakar Reddy, Managing Director of Apollo Micro Systems, said: "Apollo Group is proud to announce a significant enhancement to its portfolio through a landmark alignment with India's first explosive company with a distinguished legacy of over 64 years. This acquisition opens up new routes towards vertical integration and full-spectrum capability enablement... Together we are poised to unleash the next chapter in the Spirit of Atmanirbhar Bharat, serving our great nation with innovation, strength & pride."
The global explosives market is forecasted to grow to USD 9.37 billion by 2029 at a CAGR of 8.8%, driven by rising defence spending in countries like India, the US, China, and Russia. Apollo's acquisition of IDL Explosives positions the company at the forefront of this expanding sector, unlocking new growth and innovation opportunities.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Upturn
an hour ago
- Business Upturn
Nifty top gainers this week (ending August 1): Jio Financial Services, Hindustan Unilever, L&T, Asian Paints, Trent and more
By Aman Shukla Published on August 2, 2025, 09:12 IST The Indian stock market closed Friday's session on a downbeat note, with both benchmark indices—the Sensex and Nifty 50—slipping around 1% each. The Sensex ended 586 points lower at 80,600, while the Nifty dropped 203 points to close at 24,565. This marks the fifth consecutive weekly fall for the Indian equity market, making it the longest losing streak in nearly two years. Despite the bearish close to the week, several heavyweight stocks in the Nifty 50 index delivered notable weekly gains. Let's take a closer look at the top 10 losers of the Nifty 50 this week, according to Trendlyne. Top Nifty Gainers for the Week Jio Financial Services : Up 5.9%, closed at ₹329.5 Hindustan Unilever : Up 5.7%, closed at ₹2553.7 Larsen & Toubro : Up 4.2%, closed at ₹3587.3 Asian Paints : Up 4.1%, closed at ₹2431.0 Trent : Up 2.7%, closed at ₹5180.0 Hero MotoCorp : Up 1.9%, closed at ₹4311.6 Eicher Motors : Up 1.8%, closed at ₹5528.0 ITC : Up 1.7%, closed at ₹416.5 Tata Consumer Products : Up 1.5%, closed at ₹1070.4 Grasim Industries: Up 0.5%, closed at ₹2722.2 Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ask ChatGPDisclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Asian PaintsHindustan UnileverJio Financial ServicesL&TNiftyTrent Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Business Upturn
an hour ago
- Business Upturn
Nifty top losers this week (ending August 1): Adani Enterprises, Wipro, Kotak Mahindra Bank, Tata Motors, Tata Steel and more
By Aman Shukla Published on August 2, 2025, 09:17 IST The Indian stock market wrapped up Friday's session (August 2) on a weak note, with both benchmark indices—BSE Sensex and NSE Nifty 50—sliding nearly 1% each. The Sensex dropped 586 points to close at 80,600, while the Nifty 50 ended the day 203 points lower at 24,565. This marks the fifth straight weekly decline for Indian equities—its longest losing streak in nearly two years. Several heavyweight stocks took a significant hit this week. Based on data from Trendlyne, here are the top 10 losers from the Nifty 50: Top Nifty Losers for the Week Adani Enterprises Closed at ₹2,350.90, down 7.8% this week. Wipro Ended at ₹242.80, falling 6.4% over the week. Kotak Mahindra Bank Settled at ₹1,992.40, slipping 6.2% . Tata Motors Closed at ₹648.90, down 5.6% week-on-week. Tata Steel Finished at ₹153.00, declining 5.2% . IndusInd Bank Ended the week at ₹783.70, lower by 4.9% . Bharat Electronics Closed at ₹377.20, posting a 4.6% weekly drop. Dr. Reddy's Laboratories Settled at ₹1,220.60, down 4.5% . Titan Company Finished at ₹3,316.00, falling 4.2% over the week. Tata Consultancy Services (TCS) Ended the week at ₹3,003.00, down 4.2%. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Adani enterprisesKotak Mahindra BankNiftyTata MotorsTata SteelWipro Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Hypebeast
3 hours ago
- Hypebeast
Designer Debuts Overtake Milan SS26 Schedule & US Tariffs Rattle Brands in This Week's Top Fashion News
Milan Fashion Week, running from September 23 to 29, will feature several highly anticipated creative director debuts for Spring 2026, includingDemnaforGuccion September 23,Simone BellottiforJil Sanderon September 24,Dario VitaleforVersaceon September 26, andLouise TrotterforBottega Venetaon September 28. Later, at 7 pm,Armaniwill celebrate its 50th anniversary on an evening runway at Palazzo Brera — in the heart of Milan's design district. The major milestone for the legendary Italian house will also be preceded by two Emporio Armani shows on September 25. A new trade deal between the US and the EU will impose a 15% tariff on most European goods, a measure that is expected to harm the luxury fashion industry's recovery fromlower sales. This new duty, though lower than the 30% tariff previously threatened by Trump, adds pressure to brands like Gucci,Chanel, andLouis Vuitton, which have already faced a recent decline in consumer demand. With luxury brands having increased prices by an estimated 33% between 2019 and 2023, the new tariff could force them to raise prices further — by an estimated 2% in the US — to maintain profit margins. Some luxury houses are already exploring alternative strategies, such asLVMHopening new factories in the US, to mitigate the tariffs' effect and avoid alienating price-burdened shoppers. adidasis among the sportswear purveyors warning of impending price hikes in the United States, warning that new tariffs could add up to $230 million USD to its costs. The company's CEO, Bjørn Gulden, stated that the tariffs would directly raise the cost of products for the US market and that the company is assessing its product assortment to determine which items will be impacted. While adidas plans to keep prices stable on its well-known models like theSambaandGazelleas long as possible, newer silhouettes are likely to get a price hike. The company is also concerned about how these price hikes will affect consumer demand, especially as other sectors react to similar pressures from trade reforms. Hermèscontinues to defy the luxury slowdown, reporting a 9% sales jump in Q2 2025. While many competitors are seeing dwindling demand, particularly from aspirational shoppers, Hermès' strategy of price increases and maintaining exclusivity has proven successful. TheBirkinbag-maker's sales reached €3.9 billion in Q2, driven largely by its core leather goods division, a category that competitor LVMH is seeing decline in. A global price hike, topped with another 5% increase in the US, is expected to offset the new tariffs. The brand's strong performance, which has led to Hermès's overtaking LVMH as the world's most valuable luxury stock, is attributed to the house's careful approach to production and its loyal customer base. Pharrellhas unveiled a new Louis Vuitton Fall 2026 menswear capsule, a cross-seasonal collection set to hit the shelves in September. The range reimagines the classic 'dandy' through a contemporary, collegiate lens that combines Ivy League aesthetics with a relaxed sensibility. Inspired by university life on both sides of the Atlantic, the collection features an academia-inspired color palette with pops of bold hues and patterns. Outerwear is a key focus for the designer this season, showcasing structured wool blousons, jacquard coats, and camel jackets. The line also introduces new takes on the Louis Vuitton monogram, a tartan-style pattern on flannel and denim, and a reworking of the brand's iconic floral design. American skiing hub, Aspen, Colorado, will be the next location forMonclerGrenoble's outdoor runway presentation. Following up on its March show at the French Alpine ski resort of Courchevel, Aspen will mark the label's first show at a US ski destination. Moncler announced its US-based Grenoble show after its H1'25 earnings report last week, which showed a 1% decline in Q2 revenue, attributed to lower tourist spending in Europe and Japan. While revenue in Europe and the Middle East dropped 8%, sales in the Americas were a stronghold, hence the label's renewed focus on the US. The Moncler Grenoble Fall 2025 show is set to take place on January 31, 2026, at an unrevealed location. LVMH is reportedly in talks to sell theMarc Jacobsbrand for an estimated $1 billion. This potential move is part of a larger strategy by the luxury conglomerate to streamline its portfolio and focus on its most profitable brands amidst a broader slowdown in the luxury market. LVMH's first-half 2025 financial results showed a significant drop in net profit and sales, fueling the decision. Potential buyers for Marc Jacobs, which LVMH has owned since 1997, are said to be brand management firms like Authentic Brands Group, Bluestar Alliance, and WHP Global. This follows LVMH's recent divestment of other contemporary labels likeOff-Whiteand its stake inStella McCartney, signaling a clear shift in the company's business model.
