Promoters bought 1,86,66,000 shares & Dividend announced: Multibagger aerospace & defence stock jumps over 8 per cent as company reports a 410 per cent jump in PAT
The stock gave multibagger returns of 131 per cent from its 52-week low of Rs 52.05 per share and a whopping 1,500 per cent in 5 years.
Today, shares of Apollo Micro Systems Ltd jumped 8.25 per cent to Rs 120.10 per share from its previous closing of Rs 110.95 per share. The stock’s 52-week high is Rs 161.70 per share and its 52-week low is Rs 52.05 per share. The shares of the company saw a spurt in volume by more than 1.3 times on BSE.
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 Board of Directors of the company announced a final dividend of Rs 0.025 per share and for the same, the Board fixed the record date as Friday, September 20, 2024.
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Earlier, the company was awarded a prestigious Make II project by the Directorate General of AAD, IHQ of MOD(Army) to develop a Vehicle Mounted Counter Swarm Drone System (VMCSDS) (Version I). This is the company's first Make II project and involves no cost obligation. The project, awarded under the Make II category of DAP-2020, requires the development of cutting-edge, futuristic systems within 85 weeks for single-stage composite trials and staff evaluation. This project marks a significant milestone for the company as it contributes to India's defence capabilities.
The company falls under the BSE Small-Cap Index with a market cap of over Rs 3,600 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 131 per cent from its 52-week low of Rs 52.05 per share and a whopping 1,500 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.
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