Apollo Micro Systems subsidiary Apollo Defence Industries has concluded acquisition of industrial explosives maker IDL Explosives from Hinduja Group entity GOCL Corporation.
The acquisition is part of plans to strengthen footprint in the defence sector by adding critical capabilities of next generation high end defence grade explosives, propellants and warhead systems to expertise in weapon system electronics and platforms, the Hyderabad-headquartered Apollo Micro Systems said on Monday. A share purchase agreement for the Rs.107 crore acquisition was signed in May.
It is embarking on next phase of growth as a fully integrated multidisciplinary defence platform provider, delivering complete solutions from weapon system electronics to complete weapon system complex, Apollo Micro Systems said, announcing the acquisition and consequently IDL Explosives, which has manufacturing facilities in Rourkela and many other locations, becoming a step down subsidiary.
Strategic exit
Separately, GOCL said the conclusion of the sale of its subsidiary completes Hinduja Group’s strategic exit from the explosives and detonators business portfolio.
With completion of the divestment process, GOCL and the Hinduja Group will conclude strategic exit from the explosives and detonator business portfolio. “Last year, GOCL had ceased operations at its Hyderabad plant as the nature of the business no longer aligned with the city’s evolving metropolitan landscape. The company continues to hold substantial landbank and real estate assets across the country. It expects to complete the ongoing monetisation of its Hyderabad land in near future,” GOCL said.
GOCL plans to evolve into an energy company in line with its long-term growth aspirations.
Published – November 17, 2025 09:25 pm IST
