840 per cent returns: Heavy buying in this multibagger aerospace & defence; hit upper circuit and bags new orders from Ministry of Defence!

The stock gave multibagger returns of 315 per cent in just 1 year whereas the BSE small-cap Index is up by 48 per cent

Today, shares of Apollo Micro Systems Ltd hit a 5 per cent upper circuit to Rs 114.20 per share from its previous closing of Rs 108.80 per share. The stock’s 52-week high is Rs 161.75 and its 52-week low is Rs 24.63. The shares of the company saw a spurt in volume by more than 2 times on BSE.

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.

Apollo Micro Systems (AMS) delivers a stellar performance, exceeding expectations with Q2 and H1 FY24 financial results. Revenue surges 55 per cent, operating profit leaps 86 per cent and net profit skyrockets 300 per cent in Q2 alone. H1 sees robust growth across all metrics, with revenue rising 34 per cent, operating profit climbing 41 per cent and net profit up 67 per cent. Beyond financials, AMS expands strategically, becoming the official Middle East representative for MP3 International and investing in a new Hyderabad facility. Recognizing the sector's potential, AMS strengthens its defence focus, establishing a new manufacturing unit and forming a dedicated international subsidiary. With a strong order book, projected 45-50 per cent FY24 revenue growth, and DRDO orders secured, AMS is poised for continued success and global expansion.

Earlier, the has recently secured multiple orders amounting to Rs 20.76 crores from the Ministry of Defence. These orders comprise both confirmed orders received and the lowest bid tenders for which the company has been declared as the lowest bidder, highlighting the company's ongoing engagements in the defence sector. Furthermore, the company has also successfully secured orders valued at Rs 15.82 crores from a private company.

Following the December 5, allotment of 98,85,070 warrants, convertible into 10 equity shares each after a stock split, Netxpact Limited (FII) exercised warrants for 29,54,360 equity shares upon paying Rs 4,12,13,322, which were approved by the company's securities allotment committee. This translates to Rs 35,89,54,740 post-split.

The company falls under the BSE Small-Cap Index with a market cap of over Rs 3,000 crore. The stock gave multibagger returns of 315 per cent in just 1 year whereas the BSE small-cap Index is up by 48 per cent and over 3 years the stock is up by 840 per cent.

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