Defence company bags new order worth Rs 4.20 crore from Economic Explosives Ltd & DRDO & lowest bidder (L1) for an order worth Rs 72.26 crore from Munitions India 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.
Today, shares of Apollo Micro Systems Ltd jumped 5.4 per cent to Rs 112.90 per share from its previous closing of Rs 107.15 per share. The stock’s 52-week high is Rs 161.70 per share and its 52-week low is Rs 53.5 per share. The company's shares saw a spurt in volume by more than 5 times on BSE.
Apollo Micro Systems Ltd informed that the company has received the orders from Economic Explosives Ltd and ARDE- Defence Research and Development Organisation (DRDO) worth Rs 4.70 crore. Additionally, the company informed that it has been declared as the Lowest Bidder (L1) for GNC Kit by Munitions India Ltd, with a project worth of Rs 72.26 crore.
Earlier, the company secured a Rs 10.90 crore order from Bharat Dynamics Limited for innovative homing systems for heavy-weight torpedoes. Developed with DRDO, this technology marks a major breakthrough in underwater warfare. The company is the sole qualified vendor and is proud to contribute to the Strategic Submarine Program. Furthermore, the company was awarded a Rs 5.73 Crore contract to develop Rocket Guided Bomb for Anti-Submarine Warfare. This project marks a major milestone as it represents entry into the complete development and manufacturing of Rocket Guided Bombs. With expertise in underwater warfare, the company is well-positioned to tackle this complex task and contribute significantly to the capabilities of the Indian Armed Forces.
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.
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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 3,456 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.
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