Apollo Micro Systems logo

Apollo Micro Systems

APOLLO NSE

Key Fundamentals

SmallcapEngineeringAerospace & Defense
Market Cap
₹14,685 Cr
Volatility
Moderate
P/E Ratio
123.46
EBITDA
₹218 Cr
Return on Equity
9.28%
Debt to Equity
0.41
Book Value
₹39.73
EPS
₹1.24
52W High
₹466.5
52W Low
₹179.5

Tapetide Score

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

Key Insights

Strengths

2
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 61.6% CAGR over last 5 years

Weaknesses

5
  • Stock is trading at 11.5 times its book value
  • Promoter holding has decreased over last quarter: -2.00%
  • Company has a low return on equity of 10.2% over last 3 years.
  • Promoters have pledged 30.5% of their holding.
  • Company has high debtors of 194 days.

Growth Rate

Revenue Growth
60.06% higher than 3Y
Net Income Growth
121% higher than 3Y
Cash Flow Change
114% lower than 3Y
ROE
54.92% higher than 3Y
ROCE
22.61% lower than 3Y
EBITDA Margin (Avg.)
2.48% lower than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 6d ago
AI opinion · based on fundamentals
Risk high

Apollo Micro Systems Ltd is a small-cap aerospace & defense company with a market cap of ₹14,390 Cr, trading at a PE of 125.7x and 9.78x book value. The company has delivered strong revenue growth of 45% CAGR over 3 years and profit growth of 76% CAGR over the same period, but carries elevated valuation multiples, high debtor days of 194, and promoter pledging of 30.5%.

Bull Case 7
  • Strong compounded profit growth of 76% CAGR over 3 years and 62% CAGR over 5 years, indicating rapid earnings expansion
  • Robust revenue growth with TTM sales growth at 69% and 3-year compounded sales CAGR of 45%
  • Operates in the aerospace & defense sector which benefits from India's rising defense budget and indigenization push under Make in India
  • TTM profit growth of 83% suggests accelerating earnings momentum in recent quarters
  • ROE has improved from 9% (5-year average) to 12% in the last year, showing improving capital efficiency
  • Stock CAGR of 103% over 5 years reflects sustained market re-rating driven by defense sector tailwinds
  • Company is expected to deliver a good upcoming quarter based on available estimates
Bear Case 8
  • PE ratio of 125.7x is extremely elevated, implying the stock prices in several years of flawless execution
  • Promoters have pledged 30.5% of their holding, creating risk of forced selling in a market downturn
  • High debtor days of 194 indicate significant working capital strain and slow cash realization from customers
  • Trading at 9.78x book value (PB) despite a 3-year average ROE of only 10%, which does not justify such a premium
  • Promoter holding decreased by 2.00% in the last quarter, signaling potential dilution or reduced insider confidence
  • 3-year average ROE of 10% is modest for a company commanding a ₹14,390 Cr market cap at over 125x earnings
  • Dividend yield of just 0.06% offers negligible income return to shareholders
  • As a small-cap defense company, revenue can be lumpy and dependent on government order timelines and payment cycles

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

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Positives 6
  • Systematix initiates Buy, ₹570 target Sep 7

    Systematix initiated coverage with a Buy rating and ₹570 target price, implying ~46% upside from ₹390. Revenue CAGR of 65% projected between FY26 (₹904 crore) and FY28 (₹2,460 crore).

  • ₹12,000 crore order pipeline ahead Sep 7

    Apollo expects potential orders of ~₹12,000 crore over 24 months from mines, torpedoes and missile programmes. Near-term QRSAM, Akash-NG and Pinaka opportunities alone worth ₹3,000-4,000 crore.

  • Premier Explosives acquisition advances Aug 16

    SEBI issued final comments on draft letter of offer to acquire 26% of Premier Explosives. Apollo earlier agreed to buy 41.33% stake for ₹1,550 crore via SPA in July 2026.

  • Shauryastra Defence Systems formed Aug 24

    Apollo acquired 34% stake in newly incorporated Shauryastra Defence Systems, led by former DRDO DG Dr. V. K. Saraswat, to develop complete weapon system solutions under Atmanirbhar Bharat.

  • ₹80.84 crore new order win Aug 17

    Secured orders worth ₹80.84 crore from Defence PSUs, state governments and private industries, adding to an existing order book of over ₹1.59 lakh crore.

  • ₹600 crore capacity expansion planned Sep 7

    Apollo plans ~₹600 crore capex across three phases and acquired IDL Explosives for ~₹107 crore in Nov 2025, gaining explosives, propellants and warhead material capabilities.

Neutral 3
  • FY26 dividend record date set Sep 8

    Record date for FY26 final dividend fixed at September 23, 2026, subject to shareholder approval at AGM on September 30.

  • Q1FY27 investor meet and deck Aug 20

    Apollo released its investor presentation for Q1 ended June 30, 2026 and hosted an analyst/institutional investor meeting on August 20.

  • Stock consolidating in sideways range Aug 24

    Shares trading around ₹384, consolidating in the ₹374-₹467 range since late May with MACD below zero indicating sideways bias per SBI Securities.

TL;DR: Apollo Micro Systems is on a strong growth trajectory with a massive ₹12,000 crore near-term order pipeline, a 65% revenue CAGR forecast through FY28, and strategic moves into complete weapon systems via Shauryastra and the Premier Explosives acquisition. The stock has gained 46% YTD, significantly outperforming the benchmark. No material headwinds are visible, though the stock is consolidating in a sideways range and execution on the large capex and acquisition integration will be key. The trend is firmly positive, driven by India's defence indigenization push and Apollo's expanding role from subsystem supplier toward tier-I weapon systems integrator.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
58
87
91
135
91
161
148
162
134
225
252
293
251
Expenses
45
69
67
107
69
128
110
126
93
166
202
226
198
Operating Profit
13
18
24
29
22
33
38
36
41
59
50
68
54
OPM %
22%
21%
26%
21%
25%
20%
26%
22%
31%
26%
20%
23%
21%
Other Income
0
0
0
1
1
1
1
1
1
1
1
3
2
Interest
8
7
7
8
8
7
9
11
12
13
14
9
11
Depreciation
3
3
3
3
3
4
4
4
4
5
6
7
8
PBT
3
9
14
18
12
22
26
22
25
43
32
55
38
Tax %
42%
25%
31%
29%
29%
30%
30%
36%
30%
30%
28%
33%
33%
Net Profit
2
7
10
13
8
16
18
14
18
30
23
37
25
EPS in Rs
0.08
0.28
0.35
0.46
0.28
0.51
0.6
0.46
0.55
0.93
0.72
1.05
0.72
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
246
203
243
298
372
562
904
1,022
Expenses
197
165
198
233
288
433
686
791
Operating Profit
49
39
46
64
84
129
218
231
OPM %
20%
19%
19%
22%
23%
23%
24%
23%
Other Income
2
1
1
-2
2
3
6
8
Interest
15
16
17
22
30
34
47
46
Depreciation
10
9
9
10
11
15
22
25
PBT
25
14
20
29
44
83
155
167
Tax %
45%
29%
28%
35%
29%
32%
31%
—
Net Profit
14
10
15
19
31
56
107
115
EPS in Rs
0.67
0.49
0.7
0.9
1.1
1.84
3.16
3.42
Div. Payout %
7%
5%
4%
3%
5%
14%
8%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
21
21
21
21
28
31
36
Reserves
275
284
299
363
490
576
1,277
Borrowings
83
117
116
144
208
335
543
Other Liabilities
86
110
164
165
230
357
512
Total Liabilities
465
532
599
693
956
1,299
2,369
Fixed Assets
50
49
86
106
144
182
477
CWIP
37
52
30
32
35
72
196
Investments
0
0
0
0
0
0
0
Other Assets
378
430
484
555
777
1,045
1,695
Total Assets
465
532
599
693
956
1,299
2,369
Figures in ₹ Crores

Cash Flow

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/OP
108
24
98
-21
-87
13
-50
Figures in ₹ Crores

Ratios

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
443
Working Capital Days
312
372
314
319
348
253
256
ROCE %
—
8%
9%
11%
12%
14%
14%

Insights

Beta

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

Log in to view Apollo Micro Systems insights

63 extracted metrics + investor summaries across FY16–FY26.

Log in — free

Shareholding Pattern

DIIs1.72%Promot.49.98%FIIs7.59%Others7.87%Public32.85%As ofJun 2026
30.51% of promoter holding pledged as of Jun 2026

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.[1]
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 market capitalisation of Apollo Micro Systems Ltd?
Apollo Micro Systems Ltd has a market capitalisation of ₹14,685 Cr, which places it in the Mid Cap band.
What is the PE ratio of Apollo Micro Systems Ltd?
Apollo Micro Systems Ltd trades at a PE ratio of 123.46, on earnings per share of ₹1.24, against a book value of ₹39.73 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.
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 9.28%. Its debt-to-equity ratio is 0.41.

Company Information

Apollo Micro Systems Ltd is a pioneer in design, development, assembly and testing of electronic and electro mechanical solutions.[1]

Website apollo-micro.com
CEO Mr. Karunakar Reddy Baddam
Employees 405
Listed 2018-01-22
Face Value ₹ 1
Issued Size 35,43,91,700

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/APOLLO.md for Apollo Micro Systems Ltd: company profile, latest price, key fundamentals, the Tapetide Score, growth rates, quarterly and annual financial statements, shareholding pattern, technical indicators, analyst ratings and exchange filings.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our MCP server.

Explore More

More in Aerospace & Defense → FII DII Data Stock Screener Nifty 50 Heatmap F&O Ban List