This defence small-cap stock hits 5% upper circuit on ₹151 crore export order for rocket launchers
NIBE, a small-cap defense stock, hit the 5% upper circuit in early trade on Monday, May 26, reaching ₹ 1,601 apiece following a significant order win. The company informed investors on Saturday via a stock exchange filing that it had received an export purchase order valued at USD 17.52 million (approximately ₹ 150.62 crore) from a globally renowned technology-based company in Israel.
The order involves the manufacturing and supply of universal rocket launchers with a range capability of up to 300 km — a highly advanced technology being produced in India for the first time for the global market.
"This is a landmark achievement for NIBE Limited and a proud milestone for India's defense manufacturing sector. With this contract, we reaffirm our commitment to the Honourable Prime Minister's vision of Atmanirbhar Bharat and Make in India, bringing world-class defense technology to Indian soil," the company said in its regulatory filing.
The company said that the universal rocket launcher is among the most advanced in its class and is designed to outperform currently available global alternatives.
"By collaborating with international defense leaders, NIBE Limited continues to develop high-impact, indigenous solutions for both the Indian Armed Forces and global clients, aligning with national priorities and advancing global defense innovation," the company further stated.
In mid-April, the company's subsidiary, Nibe Space Private Limited, received approval for registration with IN-SPACe to operate as a 'Data Disseminator' for Earth Observation (EO) data pertaining to Indian territory with a Ground Sampling Distance (GSD) greater than 30 cm. The company said it is now officially recognized under IN-SPACe's regulatory framework, ensuring compliance with national guidelines and policies for space-based data dissemination.
NIBE Limited is a leading Indian defense technology company engaged in the development, manufacturing, and integration of sophisticated defense systems.
Meanwhile, the company is set to announce its March quarter results on Tuesday, May 27. In the December quarter (Q3FY25), the company reported a net profit of ₹ 1.94 crore on revenue of ₹ 149 crore.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
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