Shares of rallied nearly 5% on Tuesday to an intraday high of Rs 861.30 on the NSE after the company secured a USD 102.23 million order, worth approximately Rs 973 crore, from a NATO customer for the manufacture and supply of Base Bleed (BB) Units.




According to the company’s exchange filing, the order is scheduled to be executed over 12 months. It marks a significant milestone in Sigma’s strategy to expand its capabilities across the manufacturing value chain.




The order strengthens Sigma’s position in the artillery ammunition manufacturing ecosystem and advances its efforts to build comprehensive in-house manufacturing capabilities for advanced 155 mm artillery ammunition.



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The company said the addition of builds on its existing capabilities in 155 mm artillery shells and fuzes as it continues to strengthen its operations. The move reflects its strategy to deepen manufacturing expertise, broaden its product portfolio and develop a more integrated offering for the global artillery ammunition market.




With capabilities spanning artillery shells, fuzes and Base Bleed Units, Sigma aims to develop and integrate key components of complete 155 mm artillery rounds. The company expects this integrated approach to reduce dependence on external suppliers, strengthen supply-chain control and improve its ability to offer comprehensive ammunition solutions.




The development also reinforces Sigma’s focus on vertical integration and indigenous defence manufacturing, in line with the government’s initiative. By expanding its capabilities across complementary ammunition components, the company is positioning itself to address growing domestic and international demand for advanced artillery ammunition.




“In defence manufacturing, customer confidence is built on consistent execution, reliable delivery and the ability to scale. The fact that customers continue to place repeat orders with us reflects the trust we have earned by meeting our commitments on previous programmes. It also demonstrates that customers view Sigma as a dependable manufacturing partner, rather than an execution risk,” said Sunil Kalidindi, CEO and executive director of Sigma Advanced Systems.




“As we deepen our capabilities across artillery shells, fuzes and Base Bleed Units, we are strengthening our position as a natural outsourcing partner for customers seeking reliable, integrated manufacturing capabilities. This order further reinforces our commitment to vertical integration, indigenous manufacturing and delivering comprehensive artillery ammunition solutions for domestic and international markets,” Kalidindi added.




A Base Bleed Unit is a specialised ammunition component designed to improve the aerodynamic performance of artillery projectiles and extend their effective range. Fitted into the rear section of an artillery shell, it generates a controlled flow of gas during flight, reducing the aerodynamic drag caused by the low-pressure region behind the projectile.




On October 21, the company secured another order worth USD 19.7 million, or approximately Rs 174 crore, from a North American NATO customer for critical 155 mm artillery ammunition subsystems. The order is scheduled for execution by the second quarter of 2027, with manufacturing to be carried out within the Sigma ecosystem.




The Rs 174-crore order marked Sigma’s fifth engagement in the 155 mm segment since May 2026, reflecting the steady expansion of its capabilities across the artillery ammunition value chain, the company said.



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Sigma Advanced Systems share price movement


Sigma Advanced Systems shares declined 8.95% over the past month. However, the stock has gained 336.19% so far this calendar year and 364.49% over the past year.




The shares have surged 1,807.64% over the past three years and nearly 4,685% over the past five years.



Disclosure: This article has been written by Surbhi Khanna, who is not a SEBI-registered Research Analyst or an investment advisor. Surbhi Khanna does not hold any financial interest in Economic Times as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective SEBI-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of the EconomicTimes Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment.