This defence company is shortlisted for ToT of PRACHAND Munition Hardware and bags order worth Rs 5.72 crore from Reliable Technosystems India Pvt Ltd
The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 52.05 per share and a whopping 1,200 per cent in 5 years/
On Wednesday, shares of Apollo Micro Systems Ltd jumped 5.2 per cent to an intraday high of Rs 112.40 per share from its previous closing of Rs 106.85 per share with a spurt in volume by more than 1.71 times on BSE. The stock’s 52-week high is Rs 161.70 per share and its 52-week low is Rs 53.5 per share.
Apollo Micro Systems Limited has been shortlisted by the Armament Research and Development Establishment (ARDE), DRDO, for the Transfer of Technology (ToT) related to the production of PRACHAND Munition Hardware. PRACHAND is an Anti-Tank Munition with full-width attack capability. The technology transfer will enable the Company to manufacture and supply PRACHAND Munition Hardware to the Indian Armed Forces. The Company is expecting huge market potential for this product and our company is geared up to undertake production in large quantities. Additionally, the company has received an order from Reliable Technosystems India Pvt Ltd for the supply of electronic modules worth Rs 5.72 crore.
Earlier, the company secured several significant orders, including a Rs 4.70 crore contract from Economic Explosives Ltd and ARDE-DRDO and has been declared the L1 bidder for a Rs 72.26 crore GNC Kit project by Munitions India Ltd. Furthermore, the company obtained a Rs 10.90 crore order from Bharat Dynamics Limited for innovative homing systems for heavy-weight torpedoes, developed in collaboration with DRDO. Apollo Micro Systems has also been awarded a Rs 5.73 crore contract to develop Rocket Guided Bombs for Anti-Submarine Warfare, marking its entry into the complete development and manufacturing of such weapons.
DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
About Apollo Micro Systems Ltd.
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 58 per cent to Rs 91.80 crore and profit after tax (PAT) increased by 410 per cent to Rs 8.43 crore in Q1FY25 compared to Q1FY24 while 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's Board of Directors announced a final dividend of Rs 0.025 per share; for the same, the Board fixed the record date as Friday, September 20, 2024.
The company falls under the BSE Small-Cap Index with a market cap of Rs 3,370 crore. The promoters of the company bought 1,86,66,000 shares and increased their stake to 55.12 per cent in June 2024 compared to 53.21 per cent in March 2024. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 52.05 per share and a whopping 1,200 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.