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Apollo Micro Systems

APOLLO NSE
₹435.10 No trade today
P/E
114.80
View as Markdown
MCP
Close 4 Nov 2026 ₹435.10 +168.75 +63.4% 1Y
Start ₹266.35

Key Fundamentals

SmallcapAerospace & DefenseCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
14.50%
Debt to Equity
0.44
EPS (TTM)
₹3.79
Book Value
₹40.88
Market Cap
—
P/E (TTM)
114.80
P/B
10.64
ROE
11.80%
Dividend Yield
0.06%
EBITDA
₹224 Cr
52W High
₹466.50
52W Low
₹179.50
Volume
0

Peer Comparison

Industrials › Aerospace & Defense › Engineering › Aerospace & Defense

Apollo Micro Systems peer comparison
Hindustan Aeronautics
₹5,079.1036.44₹3,35,230 Cr8.280.91%24.00%32.00%₹33,785 Cr₹9,322 Cr
Bharat Electronics
₹398.0045.49₹2,84,935 Cr11.080.66%27.40%36.40%₹30,253 Cr₹6,401 Cr
Bharat Dynamics
₹1,075.0075.65₹37,987 Cr9.290.48%10.20%13.90%₹2,766 Cr₹521 Cr
Garden Reach Shipbuilders
₹2,143.4030.66₹24,395 Cr9.350.92%31.60%42.80%₹7,507 Cr₹801 Cr
Data Patterns
₹4,078.0085.21₹22,179 Cr13.150.25%15.20%21.90%₹941 Cr₹267 Cr
Sigma Advanced System
₹938.70103.38₹17,375 Cr18.900.00%−4.03%11.70%₹861 Cr₹166 Cr
Apollo Micro Systems (this company)
₹435.10114.80₹15,223 Cr10.640.06%11.80%14.50%₹1,185 Cr₹131 Cr
Aequs
₹219.59—₹14,236 Cr10.570.00%−9.96%1.69%₹1,370 Cr−₹171 Cr
Median 8 companies₹1,006.8575.65₹23,287 Cr10.610.37%13.50%18.20%₹2,068 Cr₹394 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

34 Poor

Data confidence 100/100

pledge:36%

Category scores

Quality
25
Poor
Returns, margins, earnings quality 22% weight
Valuation
15
Poor
Cheap vs sector & own history 24% weight
Growth
99
Strong
Sales & profit trajectory 9% weight
Financial Health
44
Weak
Solvency, leverage, coverage 9% weight
Momentum
74
Strong
Trend strength, vol-adjusted 12% weight
Ownership
29
Poor
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 61.8% CAGR over last 5 years

Weaknesses

4
  • Stock is trading at 9.17 times its book value
  • Company has a low return on equity of 10.2% over last 3 years.
  • Promoters have pledged 35.6% of their holding.
  • Company has high debtors of 194 days.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bullish2512
OscillatorsNeutral252
Moving AveragesStrong Bullish0010

Key readings

RSI (14)
58.67
Neutral
MACD (12,26,9)
3.54
Bullish
SMA (50)
400.31
Bullish
SMA (200)
335.79
Bullish

As of

Growth Rate

From the financial statements below. 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Sep 2026 against Sep 2025.

Revenue

Revenue growth by window
5Y+34.81%
3Y+44.76%
1Y+60.85%
TTM+76.98%

Net profit

Net profit growth by window
5Y+60.65%
3Y+77.91%
1Y+91.07%
TTM+63.75%

Operating cash flow

Operating cash flow growth by window
5YTurned negative
3YOutflow widened by ₹114 Cr
1YTurned negative
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
5Y+5.02 pp
3Y+2.75 pp
1Y+1.28 pp
TTM−2.11 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2020₹246 Cr
Mar 2021₹203 Cr
Mar 2022₹243 Cr
Mar 2023₹298 Cr
Mar 2024₹372 Cr
Mar 2025₹562 Cr
Mar 2026₹904 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2020₹14.00 Cr
Mar 2021₹10.00 Cr
Mar 2022₹15.00 Cr
Mar 2023₹19.00 Cr
Mar 2024₹31.00 Cr
Mar 2025₹56.00 Cr
Mar 2026₹107 Cr

AI Analysis — Bull vs Bear

Figures as of 4 Nov 2026
AI opinion · based on fundamentals
Risk high

Apollo Micro Systems Ltd, operating in the Aerospace & Defense sector, trades at ₹435.1 as of 2026-11-04 with a market cap of ₹15,222.57 crore. The company has demonstrated strong revenue and profit growth over multiple years but carries a rich valuation at a trailing P/E of 114.8x and P/B of 10.64x, alongside elevated working capital requirements and notable promoter pledge levels.

Bull Case 8
  • Compounded sales growth of 45% over 3 years and 35% over 5 years demonstrates a sustained top-line expansion trajectory, with TTM sales growth accelerating to 77%.
  • Compounded profit growth of 76% over 3 years and 62% over 5 years significantly outpaces revenue growth, indicating improving profitability and operating leverage.
  • TTM profit growth of 69% confirms that the earnings momentum has continued into recent quarters, not just a historical artifact.
  • Stock price CAGR of 99% over 5 years and 71% over 3 years reflects strong market recognition of the company's growth in the strategic Aerospace & Defense sector.
  • Debt-to-equity ratio of 0.41 as of 2026-11-04 is relatively moderate, suggesting the company has not excessively leveraged its balance sheet to fund growth.
  • ROCE of 13.53% indicates the company is generating reasonable returns on total capital employed, supporting its reinvestment-led growth model.
  • ROE improved to 12% in the last year compared to a 3-year average of 10% and a 5-year average of 9%, signalling a trend of improving capital efficiency.
  • The stock is trading at ₹435.1 against a 52-week low of ₹179.5, representing a 142% move from its low, reflecting strong investor confidence and demand in the defense manufacturing theme.
Bear Case 6
  • P/B ratio of 10.64x means investors are paying over ten times book value, a level that demands consistently high returns on equity to justify.
  • Promoters have pledged 35.6% of their holding, which introduces risk of forced selling or margin calls during any sharp market correction.
  • Debtor days of 194 indicate that the company takes over six months on average to collect receivables, tying up significant working capital and introducing cash flow risk.
  • Three-year average ROE of 10% is modest relative to the premium valuation, suggesting the company is not yet converting its high growth into proportionately high shareholder returns.
  • Dividend yield of just 0.06% as of 2026-11-04 offers virtually no income return, making the investment entirely dependent on capital appreciation.
  • Despite strong profit growth, EPS on a TTM basis stands at only ₹3.79 against a share price of ₹435.1, underscoring how much future growth is already embedded in the current price.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

9h ago

TL;DR: Apollo Micro Systems is executing an aggressive expansion strategy, commissioning new manufacturing capacity and pursuing a major acquisition of Premier Explosives. The ₹1,704 crore order book and consistent dividend history reflect operational strength, while the 3,200% five-year stock rally underscores strong market sentiment. Key risks include the high promoter pledge at 35.57% and the large capital outlay for the Premier Explosives stake. The trend is growth-oriented but investors should watch Q2FY27 results (due Oct 24) and acquisition funding impact on the balance sheet.

Headwinds 2
  • 35.57% promoter stake pledged Oct 22

    Over a third of promoter shareholding (35.57%) is pledged, introducing meaningful financial risk for existing shareholders.

  • Large escrow outlay for acquisition Nov 02

    Apollo Micro deposited ₹986.35 crore into escrow for a 26% open offer stake in Premier Explosives, representing a significant capital commitment.

Positives 5
  • New 9,000 MT silo commissioned Oct 22

    Subsidiary IDL Explosives commissioned a 9,000 MT bulk explosives silo plant on 8.4 acres near Asansol, West Bengal, targeting Eastern and Central Coalfield customers.

  • Stock up 3,200% in 5 years Oct 22

    Shares rose from around ₹11.75 to ₹388 over five years, with 34% one-year and 40% YTD returns, reflecting sustained investor confidence.

  • Healthy order book of ₹1,704 Cr Oct 22

    The company holds a strong order book of ₹1,704 crore as of mid-2026, supported by government defence localisation under the Make in India initiative.

Neutral 2
  • EGM preferential issue clarifications Nov 03

    Apollo Micro filed clarifications with NSE on its proposed preferential issue and convertible equity warrants, detailing allottee identities and valuation basis.

  • Trading window reopens Oct 27 Oct 14

    The trading window reopens October 27, 2026, after the board meeting on October 24 to review Q2FY27 financial results.

Quarterly Results

₹ Cr
APOLLO quarterly results, ₹ crore
Particulars Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
87
91
135
91
161
148
162
134
225
252
293
251
388
Expenses
69
67
107
69
128
110
126
93
166
202
226
198
277
Operating Profit
18
24
29
22
33
38
36
41
59
50
68
54
111
OPM %
21%
26%
21%
25%
20%
26%
22%
31%
26%
20%
23%
21%
29%
Other Income
0
0
1
1
1
1
1
1
1
1
3
2
4
Interest
7
7
8
8
7
9
11
12
13
14
9
11
15
Depreciation
3
3
3
3
4
4
4
4
5
6
7
8
8
PBT
9
14
18
12
22
26
22
25
43
32
55
38
92
Tax %
25%
31%
29%
29%
30%
30%
36%
30%
30%
28%
33%
33%
50%
Net Profit
7
10
13
8
16
18
14
18
30
23
37
25
46
EPS (₹)
0.28
0.35
0.46
0.28
0.51
0.6
0.46
0.55
0.93
0.72
1.05
0.72
1.3

Profit & Loss

₹ Cr
APOLLO profit and loss, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
246
203
243
298
372
562
904
1,185
Expenses
197
165
198
233
288
433
685
902
Operating Profit
49
39
46
64
84
129
219
283
OPM %
20%
19%
19%
22%
23%
23%
24%
24%
Other Income
2
1
1
−2
2
3
6.27
10
Interest
15
16
17
22
30
34
47
48
Depreciation
10
9
9
10
11
15
22
28
PBT
25
14
20
29
44
83
155
216
Tax %
45%
29%
28%
35%
29%
32%
31%
—
Net Profit
14
10
15
19
31
56
107
131
EPS (₹)
0.67
0.49
0.7
0.9
1.1
1.84
3.16
3.79
Div. Payout %
7%
5%
4%
3%
5%
14%
8%
—

Balance Sheet

₹ Cr
APOLLO balance sheet, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital
21
21
21
21
28
31
36
37
Reserves
275
284
299
363
490
576
1,277
1,482
Borrowings
83
117
116
144
208
335
543
663
Other Liabilities
86
110
164
165
230
357
512
758
Total Liabilities
465
532
599
693
956
1,299
2,368
2,940
Fixed Assets
50
49
86
106
144
182
477
494
CWIP
37
52
30
32
35
72
196
320
Investments
0
0
0
0
0
0
0
0
Other Assets
378
430
484
555
777
1,045
1,694
2,127
Total Assets
465
532
599
693
956
1,299
2,368
2,940

Cash Flow

₹ Cr
APOLLO cash flow, annual, ₹ crore
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
47
6
43
−16
−76
10
−130
Investing
−19
−23
−24
−35
−60
−91
−357
Financing
−36
17
−19
51
136
121
536
Net Cash Flow
−8
0
0
0
0
40
49
Free Cash Flow
20
−16
21
−50
−131
−82
−357
CFO/EBITDA
108
24
98
−21
−87
13
−50

Ratios

APOLLO financial ratios, annual
Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
201
305
205
180
231
155
194
Inventory Days
421
546
597
594
612
553
478
Days Payable
115
189
258
195
239
258
230
Cash Conversion Cycle
507
661
544
579
605
450
442
Working Capital Days
312
372
314
319
348
253
256
ROCE %
—
8%
9%
11%
12%
14%
15%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Apollo Micro Systems insights

67 extracted metrics across FY17–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 49.98%
  • Public 35.12%
  • Others 7.47%
  • FIIs 5.95%
  • DIIs 1.49%

35.57% of promoter holding pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Apollo Micro Systems

What does Apollo Micro Systems Ltd do?
Apollo Micro Systems Ltd is a pioneer in design, development, assembly and testing of electronic and electro mechanical solutions.
Where is Apollo Micro Systems Ltd (APOLLO) listed?
Apollo Micro Systems Ltd trades as APOLLO on the NSE and under code 540879 on the BSE.
Which sector does Apollo Micro Systems Ltd belong to?
Apollo Micro Systems Ltd is classified under the Aerospace & Defense sector, in the Engineering industry.
What is the PE ratio of Apollo Micro Systems Ltd?
Apollo Micro Systems Ltd trades at a PE ratio of 114.80 as of 4 Nov 2026, on earnings per share of ₹3.79, against a book value of ₹40.88 per share.
What is the 52-week high and low of Apollo Micro Systems Ltd?
Over the last 52 weeks Apollo Micro Systems Ltd has traded between ₹179.5 and ₹466.5 as of 4 Nov 2026.
Does Apollo Micro Systems Ltd pay dividends?
Apollo Micro Systems Ltd has a dividend yield of 0.06%.
What is the Return on Equity (ROE) of Apollo Micro Systems Ltd?
Apollo Micro Systems Ltd reported a return on equity of 11.80%. Its debt-to-equity ratio is 0.44.

Company Information

Apollo Micro Systems Ltd is a pioneer in design, development, assembly and testing of electronic and electro mechanical solutions.

Website apollo-micro.com
CEO Mr. Karunakar Reddy Baddam
Employees 405
Listed 22 Jan 2018
Face Value ₹1

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