300 per cent returns and promoters & FIIs increase stake: This multibagger aerospace & defence company bags new order worth Rs 25.58 crore from IOCL
The stock gave multibagger returns of 320 per cent in just 1 year whereas the BSE small-cap Index is up by 65 per cent and a whopping 800 per cent in 3 years.
Apollo Micro Systems Ltd announced that the company has received the letter of acceptance (LOA) from Indian Oil Corporation Limited (IOCL) for an order worth Rs 25.58 crore after successfully being declared as the lowest bidder (L1). Consequently, the total outstanding orders from IOCL amount to Rs 41.03 crore, including the above LOA, all of which are scheduled for execution in the current financial year.
The company also announced the lowest bidder (L1) status and new orders worth Rs 2.29 crore secured from I.G. Mint and the Defence Research and Development Organization (DRDO).
Earlier, the company got trading approval for 29,54,360 equity shares of Rs 1 each, issued and allotted on a preferential issue basis to the non-promoters, which have been granted by the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on January 18, 2024. The date up to which lock-in is August 15, 2024.
Today, shares of Apollo Micro Systems Ltd gained 0.73 per cent to Rs 124.85 per share from its previous closing of Rs 123.95 per share with an intraday high of Rs 128.50 and an intraday low of Rs 123.15. The stock’s 52-week high is Rs 161.75 and its 52-week low is Rs 24.63. The stock is up over 100 per cent in just 6 months
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. Currently, they are enhancing their Hyderabad facility by incorporating clean rooms dedicated to advanced systems. The company's diversification efforts, including subsidiary ventures and substantial orders from the Ministry of Defence, indicate a promising future for this prominent Indian entity.
AMS is on fire, pulverizing financial records with a Q3 revenue surge of 55 per cent and a 300 per cent net profit explosion. H1 is no slouch either, boasting a 34 per cent revenue climb and a 67 per cent net profit leap. But AMS isn't just feasting on numbers, it's conquering the globe. They've locked down the Middle East with MP3 International and planted a flag in Hyderabad. Gearing up for aerospace domination, AMS birthed an international subsidiary and a new manufacturing unit. A bulging order book predicts a 45-50 per cent FY24 revenue blastoff, while secured DRDO contracts cement AMS's path to global aerospace glory.
In December 2023, promoters increased theirs to 53.21 per cent compared to 52.67 per cent in September 2023 while FIIs increased their stake to 11.01 per cent in December 2023 compared to 5.27 per cent in September 2023.
The company falls under the BSE Small-Cap Index with a market cap of over Rs 3,500 crore. The stock gave multibagger returns of 320 per cent in just 1 year whereas the BSE small-cap Index is up by 65 per cent and a whopping 800 per cent in 3 years. Investors should keep an eye on this aerospace
Disclaimer: The article is for informational purposes only and not investment advice.
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