900 per cent returns: This multibagger aerospace & defence allocated 29,54,360 preferential shares to Nexpact Ltd post-stock split!

The stock gave multibagger returns of 350 per cent in just 1 year whereas the BSE small-cap Index is up by 38.6 per cent.

On Friday, shares of Apollo Micro Systems Ltd plunged 0.53 per cent to Rs 121.50 per share from its previous closing of Rs 122.15 per share. The stock’s 52-week high is Rs 161.75 and its 52-week low is Rs 23.27.

This announcement serves as a follow-up to the Company's previous communication on December 5, 2022, regarding the allotment of 98,85,070 warrants. These warrants, which were issued at an aggregate price of Rs 186.00 each, are now convertible into 10 equity shares of face value Rs 1 each, following the sub-division of existing equity shares.

This update informs that upon receiving the "Warrant Exercise Price" of Rs 4,12,13,322 and completed application forms from a specific warrant holder, the company's securities allotment committee has approved the allotment of 29,54,360 equity shares in lieu of the exercised warrants.

The company allocated 29,54,360 equity shares to Netxpact Limited, a Foreign Institutional Investor (FII) aggregating to Rs 35,89,54,740 post stock split of shares.

Apollo Micro Systems Ltd, a leading provider of electronic and electromechanical solutions, has announced strong Quarterly Results and half-yearly results for the fiscal year 2024.

Exceeding Expectations: Apollo Micro Systems Limited (AMS) has reported impressive financial growth in the second quarter and first half of FY24. Net sales rose 54.9 per cent to Rs 87.16 crore, operating profit jumped 85.5 per cent to Rs 18.61 crore, and net profit skyrocketed 300.6 per cent to Rs 6.56 crore in Q2 alone. For the first half, net sales increased 33.7 per cent to Rs 144.85 crore, operating profit grew 41.3 per cent to Rs 31.58 crore, and net profit climbed 66.7 per cent to Rs 8.21 crore. These remarkable results demonstrate AMS's ability to capitalize on market opportunities and deliver strong financial performance.

Strategic Expansion: Beyond financial success, AMS is actively expanding its market reach and capabilities. The company has been appointed as the official representative for the Middle East market by MP3 International, a subsidiary of Grade One Group. This partnership will significantly enhance AMS's regional presence and client engagement. Additionally, AMS is investing Rs 500 crore in a new composites manufacturing facility in Hyderabad. This expansion will bolster the company's production capacity and allow it to cater to the growing demand for composite materials.

Defence Focus: Recognizing the potential of the defence sector, AMS is further strengthening its defence business. The company is establishing a new manufacturing facility and forming a new subsidiary dedicated to international partnerships. These strategic moves position AMS to capitalize on the growing demand for defence technologies and expand its global footprint.

With a robust order book and key projects in the pipeline, AMS's management expects revenue to grow by 45-50 per cent in FY24 compared to FY23. Additionally, the company has secured several orders from the Defence Research and Development Organisation (DRDO) in the current financial year. This strong momentum suggests that AMS is well-positioned for continued success and growth in the future.

The company falls under the BSE Small-Cap Index with a market cap of over Rs 3,100 crore. The stock gave multibagger returns of 350 per cent in just 1 year whereas the BSE small-cap Index is up by 38.6 per cent and over 2 years the stock is up by 900 per cent.

Disclaimer: The article is for informational purposes only and not investment advice.