Apollo Micro Systems shares extend rise as unit secures deal in US

Shares rise on winning order. 

Shares of Apollo Micro Systems Ltd extended gains for the third straight session on Friday, rising 9 percent over the period, after its step-down subsidiary secured a defence technology agreement in the United States.

The company said Apollo Strategic Technologies Pvt Ltd (ASTPL), a subsidiary of Apollo Defence Industries Pvt Ltd (ADIPL), has signed a Memorandum of Understanding (MoU) with Dynamic Engineering and Design Inc, USA. The pact covers technology transfer, co-development and potential licensed production of rocket motors for BM-21 Grad ER and non-ER rockets. The agreement was signed at the DSEI exhibition in London on September 10, 2025.

Apollo Micro Systems said the MoU marks a step towards indigenising propulsion technologies for multi-barrel rocket systems and advancing self-reliance in defence manufacturing under the government’s Make in India initiative.

The group has already developed a 122mm rocket warhead in-house and plans to begin trials shortly, with full-scale production targeted by mid-2026. The collaboration will enable integration of indigenous warheads with domestically produced rocket motors, the company added.

The BM-21 Grad rockets are among the most widely used unguided rockets globally. With this initiative, Apollo Micro Systems said it will become one of the few private Indian firms to offer a fully in-house developed rocket system, strengthening India’s position in the global defence supply chain.

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