3 days Ago
Shares of Apollo Micro Systems rose almost 5 per cent in intra-day deals today, September 16 after the company informed that it has received orders worth ₹ 4.70 crore from Economic Explosives Ltd and ARDE- Defence Research and Development Organisation (DRDO) . It also informed that the company has been declared as the Lowest Bidder (L1) for GNC Kit by Munitions India Ltd, with a project worth ₹ 72.
26 crore. The small-cap stock rose as much as 4.8 per cent post the announcement to ₹ 112.
25. It is now over 30 per cent away from its peak of ₹ 161.75, hit in November last year.
Meanwhile, it has soared over 110 per cent from its 52-week low of ₹ 53.50, recorded in September last year. This is the third straight session of gains for the stock , up 10 per cent in this period.
The defence stock has rallied over 95 per cent in the last one year but has lost over a percent in 2024 YTD. It has gained 7.5 per cent in September so far after an over 12 per cent fall in August.
About the company Apollo Micro Systems Limited, established in 1985 and based in Hyderabad, India, specializes in designing, developing, and assembling electronic and electro-mechanical solutions. The company offers a wide range of products, including missile hardware simulators, avionics modules, signal processing systems, launcher controllers, and satellite data simulators. It also provides solutions for public address systems, vehicle tracking, command control systems, and RFID fleet management.
Additionally, Apollo Micro Systems delivers electronic manufacturing, hardware design, IT, software, and platform integration services. The company caters to industries such as defence, aerospace, and telecommunications. Apollo Micro Systems delivered impressive growth in its consolidated financial results for the quarter ending June 2024.
The company reported a significant increase in net sales, reaching ₹ 91.20 crore, marking a robust 58.09 per cent growth from ₹ 57.
69 crore in the same quarter of the previous year. This surge in sales underscores the company's strong market presence and expanding demand for its advanced electronic and electro-mechanical solutions. The quarterly net profit witnessed an exceptional rise, skyrocketing by 408.
74 per cent to ₹ 8.43 crore in June 2024 from ₹ 1.66 crore in June 2023.
This substantial profit growth highlights Apollo Micro Systems' improved operational efficiency and cost management. Additionally, the company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) saw a notable jump, reaching ₹ 22.95 crore, a 76.
95 per cent increase from ₹ 12.97 crore in June 2023. These strong quarterly numbers reflect the company’s resilience and strategic focus on innovation and market expansion.
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