Defence company bags order worth Rs 4.65 crore from DRDO & Adani and declared the Lowest Bidder for orders worth Rs 16.96 crore from DRDO, PSUs, Indian Navy & Indian Army
The stock gave multibagger returns of 730 per cent in just 3 years and a whopping 1,160 per cent in 5 years.
On Friday, shares of Apollo Micro Systems Ltd plunged 0.43 per cent to Rs 91.70 per share from its previous closing of Rs 92.10. The stock’s 52-week high is Rs 147.50 per share and its 52-week low is Rs 88.10 per share.
The company has received orders from Defence Research and Development Organization (DRDO) and Adani worth Rs 4.65 crore. Additionally, the company has been declared the Lowest Bidder for orders worth Rs 16.96 crore from DRDO, Public Sector Units, Indian Navy and Indian Army.
Earlier, the company has secured a series of substantial orders, solidifying its position in the defence electronics sector. Notable contracts include a significant Rs 28.74 crore order from Bharat Electronics Limited and CNA (OF) Pune, Indian Navy, for proprietary solutions. The company has also been selected by ARDE-DRDO for the transfer of technology related to PRACHAND Munition Hardware production. Additionally, Apollo Micro Systems has received orders from key players such as Reliable Technosystems India Pvt Ltd, Economic Explosives Ltd, ARDE-DRDO, Munitions India Ltd, Bharat Dynamics Limited, and has been awarded a contract to develop Rocket Guided Bombs for Anti-Submarine Warfare.
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Established in 1985, Apollo Micro Systems is at the forefront of creating, constructing, and validating crucial electronics and electro-mechanical solutions for sectors such as aerospace, defence, and space. The company is renowned for its commitment to research and development, resulting in notable projects such as torpedo-homing systems and underwater mines.
According to Quarterly Results, total income increased by 85 per cent to Rs 161.30 crore and profit after tax (PAT) increased by 140 per cent to Rs 15.73 crore in Q2FY25 compared to Q2FY24 while in its half-yearly results, the net sales increased by 74 per cent to Rs 253.09 crore and profit after tax (PAT) increased by 194 per cent to Rs 24.16 crore in H1FY25 compared to H1FY24. In its annual results, the net sales increased by 24.91 per cent to Rs 371.63 crore and profit after tax (PAT) increased by 66.01 per cent to Rs 31.11 crore in FY24 compared to FY23.
The company falls under the BSE Small-Cap Index with a market cap of over Rs 2,800 crore. In September 2024, DIIs took a fresh entry and bought 26,66,460 shares or 0.87 per cent stake in the company. The stock gave multibagger returns of 730 per cent in just 3 years and a whopping 1,160 per cent in 5 years. Investors should keep an eye on this aerospace & defence stock.
Disclaimer: The article is for informational purposes only and not investment advice.