Shares of Sigma Advanced Systems Limited touched a day high of Rs 434.00 on NSE on 8 June before reversing course, despite the company announcing a Rs 208 crore export order win. 

The order, filed with exchanges on 8 June, is for the manufacture and supply of 40,000 units of 155 mm M107 artillery shell bodies to an undisclosed customer in North America. 

Valued at US$21.97 million, the contract runs for six months. Export authorisation has already been obtained from the Department of Defence Production under the Ministry of Defence.

What makes this contract worth noting is what it says about where Sigma is headed. The company was known mainly as a fuze manufacturer. This order marks an expansion beyond that traditional business into complete artillery shell component production. 

Making shell bodies demands expertise in forging, precision machining and heat treatment, with no room for quality failure. Sigma told exchanges that the 155 mm calibre is the global standard for modern artillery and is widely used across NATO platforms.

CEO Sunil Kalidindi said the win ‘reflects the confidence international customers place in India’s defence manufacturing ecosystem and in Sigma’s ability to deliver complex, high-precision products at scale.’

The stock had already closed 5% lower in a circuit on the previous Friday at Rs 435.80. Even with today’s dip, the Hyderabad-based defence firm has gained 29.47% over the past month. 

Its 52-week low was Rs 81.61 in June 2025, making the current price more than five times that level. At 11:09 am, shares were trading at Rs 418.00 on NSE, down 4.08%.

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