As we all know defense stocks has given upto 100% returns from 4th June lows. Apollo Micro Systems Ltd recently saw a 5% increase in its share price, rising from Rs 104.60 to Rs 109.80. This growth is linked to the company securing a major Make II project from the Directorate General of AAD, IHQ of MOD (Army). The project involves developing a Vehicle Mounted Counter Swarm Drone System (VMCSDS) (Version I) within 85 weeks. Impressively, this is Apollo Micro Systems’ first Make II project and comes with no cost obligation, highlighting the company’s growing influence in the aerospace and defense sector.
Founded in 1985, Apollo Micro Systems specializes in electronics and electro-mechanical solutions for aerospace, defense, and space sectors. The company is known for its strong commitment to research and development, leading to significant projects like torpedo-homing systems and underwater mines. In Q4FY24, Apollo Micro Systems reported a 26.76% increase in net sales to Rs 135.44 crore and a profit after tax (PAT) surge of 79.23% to Rs 12.93 crore compared to Q4FY23. For the full FY24, net sales grew by 24.91% to Rs 371.63 crore, and PAT increased by 66.01% to Rs 31.11 crore compared to the previous fiscal year.
Apollo Micro Systems is part of the BSE Small-Cap Index, with a market capitalization exceeding Rs 3,200 crore. In June 2024, company promoters increased their stake to 55.12%, up from 53.21% in March 2024, by acquiring 1,86,66,000 shares. The stock has delivered impressive returns, more than doubling from its 52-week low of Rs 52.05 per share and achieving an 800% increase over three years.
The recent rise in Apollo Micro Systems’ share price, coupled with the prestigious Make II project, underscores the company’s crucial role in enhancing India’s defense capabilities and solidifies its strong market position.
