Sigma Advanced Systems shares rose nearly 5% to an intraday high of ₹861.30 on India’s National Stock Exchange on October 27, 2026, after the company secured a $102.23 million order from a NATO customer for artillery components.

Key Takeaways

  • The order, worth approximately ₹973 crore, is scheduled for execution over 12 months.
  • Sigma will manufacture and supply Base Bleed Units, which are designed to extend the effective range of artillery projectiles.
  • The company announced a separate $19.7 million order from a North American NATO customer on October 21.

Sigma Advanced Systems expands ammunition portfolio

The new order adds Base Bleed Units to Sigma’s existing capabilities in 155 mm artillery shells and fuzes. The company said it aims to integrate key components of complete artillery rounds and reduce its dependence on external suppliers.

A Base Bleed Unit sits in the rear of an artillery shell and generates a controlled flow of gas during flight. This reduces aerodynamic drag and is designed to extend the projectile’s effective range.

CEO and executive director Sunil Kalidindi said the company is seeking to offer customers more integrated manufacturing capabilities across shells, fuzes and Base Bleed Units.

Earlier NATO customer order due by mid-2027

On October 21, Sigma secured a separate order worth $19.7 million, or approximately ₹174 crore, from a North American NATO customer for 155 mm artillery ammunition subsystems. It is scheduled for execution by the second quarter of 2027, with manufacturing to be carried out within Sigma’s operations.

The company said the earlier order was its fifth engagement in the 155 mm segment since May 2026. Before the latest announcement, Sigma shares had declined 8.95% over the preceding month but gained 336.19% in the calendar year to date.

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