NIBE Secures Defence Order from Indian Army

New Delhi: NIBE, a manufacturer of critical defence components and electric vehicle systems, has won a domestic defence contract worth Rs 292.69 crore from the Indian Army under the Ministry of Defence, Government of India.

The order covers the manufacturing and supply of ground equipment, accessories, ESP, and ammunition for a Universal Rocket Launcher System capable of integrating multiple rocket types, including long-range rockets with strike capabilities of 150 km and 300 km.

As per the agreement, NIBE is required to provide a performance-cum-warranty bank guarantee of 10% of the total contract value within 30 days of signing. The project will be executed in tranches over 12 months, and the total value includes all applicable taxes and duties.

The company confirmed that the contract was awarded by a domestic entity and does not involve related-party transactions. Promoters and promoter group entities have no interest in the awarding authority.

NIBE operates in defence manufacturing, electric vehicles, and software development, specializing in fabrication, machining, and assembly of critical components.

Despite the new order, the company reported a consolidated net loss of Rs 8.44 crore in Q2FY26, compared with a net profit of Rs 9.12 crore in Q2FY25. Revenue for the quarter fell 46.04% year-on-year to Rs 73.37 crore.

Following the announcement, NIBE shares rose 9.21%, closing at Rs 1,240.25 on the BSE on 2 January 2026.