Multibagger defence stock: Multibagger defence stock Apollo Micro Systems share price was locked in its 5% upper circuit of ₹237.85 in intra-day deals on Friday, December 19 following overall positive sentiment in the Indian stock markets. Both benchmarks Nifty 50 and Sensex rose over half a percent in intra-day deals on positive global cues. Apollo Micro Systems also informed exchanges that its subsidiary has secured industrial licence for HMX, TNT manufacturing
Apollo Micro Systems subsudiary secures industrial license
Apollo Micro Systems on December 18 informed stock exchanges that its step-down subsidiary, IDL Explosives Limited, has been granted an Industrial License under the Industries (Development and Regulation) Act, 1951, for manufacturing high-energy defence explosives HMX and Trinitrotoluene (TNT). The approval marks a significant expansion of the group’s capabilities in the specialised defence and industrial explosives segment.
The licence allows IDL Explosives to manufacture HMX with an annual capacity of 50 metric tonnes per annum (MTPA) and TNT with a capacity of 500 MTPA. The manufacturing facility will be located at multiple plots in San Sunaparbat, Odisha, and the licence will remain valid for a period of 15 years from the date of issuance.
The development strengthens Apollo Micro Systems’ vertical integration across defence technologies and positions the company to cater to both captive and external demand for high-energy materials. HMX and TNT are critical inputs used in defence, aerospace, and industrial applications, and domestic manufacturing aligns with India’s focus on reducing import dependence in strategic sectors.
Commenting on the milestone, Karunakar Reddy Baddam, Managing Director of Apollo Micro Systems Limited, said, “This represents a significant strategic milestone for Apollo Micro Systems, allowing us to meet the needs of both industrial and defence explosives. This license is more than a regulatory approval; it validates our technical expertise, operational excellence, and adherence to the highest safety and quality standards.”
The company noted that the licence enhances IDL Explosives’ ability to meet captive requirements for high-energy defence explosives while also opening opportunities in domestic and international markets. The move supports the government’s Atmanirbhar Bharat initiative by strengthening indigenous manufacturing of specialised defence materials.
Apollo Micro Systems Stock Performance
In the last 1 year as well the defence stock has given multibagger returns, rallying 136% while it added 25% in past 6 months. However, recently, it has been under pressure, down 31% in last 3 months and 15% in last 1 month.
The small-cap stock has jumped by a whopping 1,770% over the past five years.
The stock hit its 52-week high of ₹354.65, hit in September 2025 and its 52-week low of ₹92.50, in December 2024.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
