Multibagger defense stock acquires land for installing Rs 210 crore Integrated Plant for Ingenious Defense Systems; Check if you hold it!

The stock has given 118.51 per cent returns in just six months

Exciting news for Apollo Micro Systems Ltd! The company is expanding its horizons with a significant land acquisition, securing new orders, and delivering impressive financial results. Let's dive into the details:

Land Acquisition:

• Apollo Micro has acquired an additional 2.5 acres of land in Hyderabad, adding to their existing 2.5 acres. This brings their total land holding to a substantial 5 acres.
• This land will be used to build a brand new Integrated Plant for Ingenious Defence Systems (IPiDS).
• The project is expected to cost a whopping Rs. 210 crores, showcasing the company's commitment to growth and innovation.

New Orders and Partnerships:

• Apollo Micro has bagged a significant order worth Rs. 25.58 crores from Indian Oil Corporation Ltd (IOCL). This adds to their existing orders from IOCL, bringing the total to Rs. 41.03 crores.
• The company has also secured new orders worth Rs. 2.29 crores from I.G.Mint and the Defence Research and Development Organization (DRDO).
• These new orders demonstrate Apollo Micro's strong position in the defence and industrial sectors, securing their future growth prospects.

Strong Financial Performance:

• Apollo Micro's latest financial results for Q3FY24 are impressive, showing consistent growth across key metrics.
• Sales jumped by 11 per cent, while EBIDT (earnings before interest, taxes, depreciation, and amortization) and net profit witnessed even more significant increases of 22 per cent and 28 per cent respectively.
• This strong performance translates to a 12 per cent rise in EPS (earnings per share), indicating healthy profitability and value for shareholders.

Overall, Apollo Micro Systems is on a positive trajectory with strategic land acquisition, new partnerships, and robust financial performance. These developments position the company for continued growth and success in the defence and industrial sectors.

Apollo Micro Systems is trading at Rs 120.25 and has recovered almost 10 per cent from its lows made at Rs 109.25.The stock has given 118.51 per cent returns in just six months and has delivered a whopping 265.67 per cent returns in past 1 year. Thus, Investors should keep an eye on this multibagger defense stock!

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