APOLLO

Apollo Micro Systems share price & financials

Price
₹433.15
Market cap
₹14.4k Cr
Sector
Capital Goods
Calls analysed
7
Latest concall · Q1 FY27 · call held 08 Aug 2026

Apollo Micro Systems Limited Q1 FY27

Consolidated Revenue ₹251 cr +88%Consolidated EBITDA ₹54 cr +31%Standalone EBITDA Margin 31% Consolidated PAT ₹25 cr +43%

What went well

  • Highest standalone revenue in company history at INR 156 crores for Q1 FY27.
  • Highest standalone PAT for a June quarter at INR 28 crores with 18% PAT margin.
  • Consolidated revenue grew significantly by 88% YoY to INR 251 crores.

What to watch

  • Ideal Explosives, a loss-making acquisition, is expected to take 3-4 quarters to become fully positive.
  • Management did not provide specific EBITDA margin guidance, only stating momentum will continue.
Read the full call →

What Apollo Micro Systems Limited does

Apollo Micro Systems designs, develops and manufactures mission-critical electronic and electromechanical sub-systems, weapon platforms and integrated defence solutions across missile systems, naval platforms, avionics, satellite/space systems and homeland security. It holds Government of India licenses to manufacture, assemble, integrate and proof-test strategic weapons including missiles, ATGMs, torpedoes, underwater mines, SAM, decoys, aerial bombs, rockets and loitering munitions, and is the approved production agency for India's first indigenised Multi-Influence Ground Mine. In FY26 it completed the acquisition of IDL Explosives (formerly GOCL, part of the Hinduja Group), extending the business into industrial and defence explosives manufacturing. It earns revenue by supplying sub-systems, platforms and weapons to DRDO, defence PSUs and the armed forces under long-term development and production contracts.

Segments

  • Defence Electronics & Weapon Systems
  • Explosives
Total employees
~400
Employees in R&D
165+
Manufacturing facilities (Hyderabad)
2 operational plants — 55,000 sq ft at Mallapur and 40,000 sq ft at Adibatla
New integrated facility under construction
350,000 sq ft at Hardware Park-II, Hyderabad
IDL Explosives manufacturing footprint
7 plants across 6 Indian states; main plant at Rourkela, Odisha
Operating experience
41+ years
Founded 1985Headquarters Hyderabad, Telangana, India Company website

Guidance record · Q1 FY27

what the last two calls moved 16 tracked 2 delivered 4 missed 10 open
  • EBITDA Margin delivered said Q3 FY25 Promised: 25-30% in the near term Q1 FY27: Achieved. Standalone EBITDA margin for the quarter was 31.0%, exceeding the target range. Management declined to give formal guidance.
  • Standalone Revenue Growth CAGR missed said Q3 FY25 Promised: 45-50% revenue growth for FY26 Q1 FY27: This specific guidance for FY26 was missed and is now superseded by a new 40-45% CAGR guidance for FY27 onwards.
  • Promoter Pledge delayed said Q3 FY25 Promised: 0% within the next 1 year Q1 FY27: Timeline delayed again. Management now states it will take 'another 1 year to close all the pledge part', pushing the deadline to Q1 FY28.

All 16 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 87.3%, net profit up 38.9% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue161 148 162 134 225 +40%252 +70%293 +81%251 +87%
EBITDA33 38 36 41 59 +79%50 +32%68 +89%54 +32%
Net profit16 18 14 18 30 +88%23 +28%37 +164%25 +39%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +49.2% 1Y

₹200₹300₹400Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 4 Nov 2025Q3 FY26 — 9 Feb 2026Q4 FY26 — 19 May 2026Q1 FY27 — 7 Aug 2026

1Y: ₹283.1 on 10 Sept 2025 → ₹422.25. High ₹450.05 (3 Jul 2026), low ₹182.16 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−3.9%
8 Aug
Q4 FY26
+9.5%
19 May
Q3 FY26
+3.9%
9 Feb
Q2 FY26
−4.2%
5 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 44.9% a year over 3 years, FY23 to FY26. Operating margin widened to 24.1%.

Year endingFY23FY24FY25FY26
Revenue₹297 Cr₹371 Cr₹562 Cr₹904 Cr
Operating profit₹65 Cr₹84 Cr₹129 Cr₹218 Cr
Operating margin21.9%22.6%23.0%24.1%
Interest₹23 Cr₹30 Cr₹35 Cr₹48 Cr
Depreciation₹12 Cr₹12 Cr₹15 Cr₹22 Cr
Net profit₹19 Cr₹32 Cr₹56 Cr₹108 Cr
Net margin6.4%8.6%10.0%11.9%
Cash from operations₹-16 Cr₹-76 Cr₹10 Cr₹-130 Cr
Free cash flow₹-50 Cr₹-131 Cr₹-82 Cr₹-357 Cr
ROCE11.0%12.0%14.0%14.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹21 Cr₹21 Cr₹21 Cr₹28 Cr₹34 Cr₹36 Cr
Reserves₹284 Cr₹299 Cr₹363 Cr₹490 Cr₹1.1k Cr₹1.3k Cr
Borrowings₹117 Cr₹116 Cr₹144 Cr₹208 Cr₹311 Cr₹543 Cr
Other liabilities₹110 Cr₹164 Cr₹165 Cr₹230 Cr₹347 Cr₹512 Cr
Total liabilities₹532 Cr₹599 Cr₹693 Cr₹956 Cr₹1.7k Cr₹2.4k Cr
Fixed assets₹49 Cr₹86 Cr₹106 Cr₹144 Cr₹203 Cr₹477 Cr
Capital work in progress₹52 Cr₹30 Cr₹32 Cr₹35 Cr₹109 Cr₹196 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹2 Cr₹0 Cr
Other assets₹430 Cr₹484 Cr₹555 Cr₹777 Cr₹1.4k Cr₹1.7k Cr
Total assets₹532 Cr₹599 Cr₹693 Cr₹956 Cr₹1.7k Cr₹2.4k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, promoters trimmed −0.67 pp while FIIs added +0.43 pp. The shareholder count grew 30% to 3,98,043.

Promoters
50.0%
FIIs
7.6%
DIIs
1.7%
Public
40.7%

Since Jun 2025

  • Promoters −0.67 pp
  • FIIs +0.43 pp
  • Public +0.13 pp

How it drifted, 12 quarters

Over this window promoters fell from 52.7% to 50.0% — −2.7 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 52.7%, FIIs 5.3%, DIIs 3.3%, Public 38.8%.Dec '23: Promoters 53.2%, FIIs 11.0%, DIIs 0.0%, Public 35.8%.Mar '24: Promoters 53.2%, FIIs 11.1%, DIIs 0.0%, Public 35.6%.Jun '24: Promoters 55.1%, FIIs 7.4%, Public 37.5%.Sep '24: Promoters 55.1%, FIIs 0.2%, DIIs 0.9%, Public 43.8%.Dec '24: Promoters 55.1%, FIIs 0.7%, DIIs 0.9%, Public 43.3%.Mar '25: Promoters 55.1%, FIIs 0.9%, DIIs 0.4%, Public 43.6%.Jun '25: Promoters 50.6%, FIIs 7.2%, DIIs 1.6%, Public 40.6%.Sep '25: Promoters 50.3%, FIIs 8.9%, DIIs 1.4%, Public 39.3%.Dec '25: Promoters 52.0%, FIIs 5.0%, DIIs 1.3%, Public 41.8%.Mar '26: Promoters 52.0%, FIIs 3.6%, DIIs 1.8%, Public 42.6%.Jun '26: Promoters 50.0%, FIIs 7.6%, DIIs 1.7%, Public 40.7%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 3 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Apollo Micro Systems Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Karunakar Reddy Baddam 45.46%−1.82 pp
Ebisu Global Opportunities Fund Limited FPI fund2.69%newly disclosed
Baddam Kanishka Reddy 2.26%−0.09 pp
Baddam Chanakya Reddy 2.26%−0.09 pp
Quadrature Capital Vector Sp Limited FPI fund1.76%newly disclosed
Srilakshmi Reddy Vangeti 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹422, this stock must grow earnings at 52% every year for 7 years. Our analysis caps realistic growth at ~78%. At that growth it is worth ₹1259 — upside of 198%.

Growth the price implies
51.6% a year
for 7 years, fading to 4%
It has actually compounded at
78.5% a year
net profit, FY23–FY26
The gap
-0.3 pp
198% downside if it only repeats history
Price today ₹422.25 Value at the reference growth ₹1,258.84

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Apollo Micro Systems Limited

Guides on how to read this kind of business and the numbers that matter.