Apollo Micro Systems Ltd
Apollo Micro Systems Ltd Q1 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q1 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
The company expects revenue to grow at a CAGR of 45% to 50% over FY26 and FY27, driven solely by its core business excluding recent acquisitions. Revenue expected to grow at a CAGR of 45% to 50% over FY26 and FY27 driven by core business and new products entering production phase.
From Apollo Micro Systems Ltd's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- The company expects revenue to grow at a CAGR of 45% to 50% over FY26 and FY27, driven solely by its core business excluding recent acquisitions.
- Growth is supported by a healthy order book and multiple products entering the production phase.
- Broadly, similar to defense PSUs' past 30%+ CAGR growth due to Atmanirbhar initiatives, the private sector defense companies foresee comparable growth, albeit with joint execution alongside PSUs.
- By December, significant new orders (potentially worth INR2,00,000 crores across various programs) are expected to be released by the Ministry of Defense.
- Operating margins are projected to expand starting FY26 due to production ramp-up, despite some moderation in later FY26 and FY27 due to ongoing capex.
- From FY27 onwards, working capital cycle days are expected to reduce by 100 to 120 days, enhancing liquidity and operational efficiency.
Profitability & Margins
See what Apollo Micro Systems Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- The company is undergoing significant capital expenditure (capex) in a major expansion.
- Unit 3 facility is expected to start occupation from October, with operational listing targeted by December.
- Phase two of the capex has already started and is progressing smoothly as per schedule, with no delays reported.
- The ongoing capex aims to support increased production capacity and improve working capital efficiency, targeting a reduction of 100 to 120 days in the working capital cycle from FY27 onwards.
- Consultants including ex-DRDO senior scientists have been appointed to aid in technology transfer and operational improvements, particularly related to the IDL acquisition.
- The acquisition and integration of IDL will enable backward integration and expansion into propulsion and warhead capabilities.
- Capex and system production ramp-up are expected to positively impact operating margins from the latter part of FY26 and beyond.
Top-ranked in Aerospace & Defense
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Apollo Micro Systems Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current order book stands at around INR 735 crores as of the latest update.
- Expecting significant orders from defense programs like QRSAM, MIGM, Akash-NG, and others.
- Ministry of Defense projected INR 2,00,000 crores worth of orders to be released in the next six months.
- Orders likely to be shared between public sector units and private players, including Apollo.
- Specific large orders such as QRSAM expected before December; BDL expected to place orders to vendors soon after.
- MIGM order expected within the financial year but exact timeline and quantum not finalized yet.
- Orders for components in programs like MPATGM are pending and expected before September.
- Emergency procurement and naval sector orders also anticipated to contribute to the pipeline.
- The company is actively participating in multiple missile and mine programs, with expected large-scale order inflows in the near term.
Apollo Micro Systems Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹293 Cr, net profit ₹37 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Apollo Micro Systems Ltd's management said in earlier quarters
Others in Aerospace & Defense this season
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Order book stands strong at over INR 80,000 crores, including upcoming orders worth INR 40,000-50,000 crores for programs like QRSAM. Key concall takeaways…
- Rossell Techsys Ltd (Q1 FY26)
Revenue grew from INR 45.60 crores in Q1 2025 to INR 88.29 crores in Q1 2026, nearly doubling. Key concall takeaways from Rossell Techsys Ltd's Q1 FY26…
- Cyient DLM Ltd (Q1 FY26)
Current capacity utilization at 55-60%; potential to nearly double revenue by running 3 shifts without major new CAPEX. Key concall takeaways from Cyient DLM…
- Data Patterns (India) Ltd (Q1 FY26)
Strong order book at INR1,079 crores, with over INR320 crores of orders received in FY '26 so far, including orders from BrahMos and MoD. Key concall takeaways…
Frequently Asked Questions
What were Apollo Micro Systems Ltd Q1 FY26 results?
The company expects revenue to grow at a CAGR of 45% to 50% over FY26 and FY27, driven solely by its core business excluding recent acquisitions. Revenue expected to grow at a CAGR of 45% to 50% over FY26 and FY27 driven by core business and new products entering production phase.
What is Apollo Micro Systems Ltd share price analysis?
Apollo Micro Systems Ltd currently shows a neutral. The stock trades at a P/E of 131.3 with a market cap of ₹14,829 Cr. Investors should review the full earnings analysis for detailed insights.
Is Apollo Micro Systems Ltd planning capital expenditure?
The company is undergoing significant capital expenditure (capex) in a major expansion.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.