Apollo Micro Systems Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹14,818 Cr
- P/E
- 122.14
- ROE
- 11.83%
- PEG
- 1.62
- Price to sales
- 14.49
- Debt to equity
- 0.41
- 52W high / low
- ₹450 / ₹182
- Sales growth (5Y)
- 34.81%
- EBITDA margin
- 22.60%
- Net profit margin
- 11.94%
- Promoter holding
- 49.98%
- Sales (last year)
- ₹1,022 Cr
Apollo Micro Systems Ltd is a pioneer in design, development, assembly and testing of electronic and electro mechanical solutions.[1]
Guidance scorecard · Q2 FY27 call
What Apollo Micro Systems Ltd's management guided
and where it ranks in Aerospace & Defense
Aerospace & Defense
RevenueQ1 FY27 call
40%+- Revenue growth guidance of 40% to 45% CAGR for the current and coming financial years.
- Expansion with commissioning of Unit III production facility by March 2027, expected to significantly increase capacity.
- Major orders anticipated from projects like QRSAM and MIGM; execution of these orders to start from the next financial year.
- Export opportunities expected to ramp up after the full operational readiness of Unit III within next couple of quarters, with meaningful breakthrough export orders likely this financial year and sizable ones next year.
- Continued investment in R&D (~9.5% of revenue last year), supporting technology advancement and new product development.
2 more points from Apollo Micro Systems Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Apollo Micro Systems Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Apollo Micro Systems plans to heavily invest in R&D and technology development, particularly in autonomy segments for land, air, and sea platforms, including semi-submersible surveillance vehicles and swarm autonomous USVs.
- The company is consolidating and augmenting infrastructure for new components, especially related to MIGM and other rockets, with licenses already obtained.
- After acquiring Premier Explosives, Apollo aims to set up more integrated production plants and facilities within Premier and Ideal to accelerate production capabilities.
- Around INR 2,500 crores of recently raised funds are allocated for acquisitions, with around INR 500 crores earmarked for working capital and corporate purposes.
2 more points from Apollo Micro Systems Ltd's call on capex
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FundraisingQ1 FY27 call
PlannedSee what Apollo Micro Systems Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Standalone order book as of August 8, 2026: INR 1,224 crores
- Consolidated order book as of August 8, 2026 (including Ideal Explosives): INR 1,704 crores
- Expected order book by end of FY27: INR 3,500 to INR 4,000 crores (consolidated)
- Moored mines orders expected next financial year after completion of technical trials
- Limpet mine orders expected from 4th quarter onwards of current financial year
2 more points from Apollo Micro Systems Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Aerospace & Defense
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Aerospace & Defense companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹5,744 Cr | 216.9 | |
| 2 | 40%+ | Up 0–2% | ₹1,197 Cr | 55.6 | |
| 3 | 40%+ | Flat | ₹17,585 Cr | — | |
| 4 | Apollo Micro Systems LtdThis stock | 40%+ | Flat | ₹15,942 Cr | 131.4 |
| 5 | 40%+ | Flat | ₹9,001 Cr | 274.4 | |
| 6 | 40%+ | Flat | ₹8,041 Cr | 111.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Aerospace & Defense rankingFinancials of Apollo Micro Systems Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Apollo Micro Systems Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 53.21% | 53.21% | 55.12% | 55.12% | 55.12% | 55.12% | 50.65% | 50.33% | 51.98% | 51.98% | 49.98% | 49.98% |
| FIIs + | 11.01% | 11.14% | 7.42% | 0.19% | 0.74% | 0.93% | 7.16% | 8.94% | 4.97% | 3.63% | 7.59% | 5.95% |
| DIIs + | 0.01% | 0.01% | 0.00% | 0.87% | 0.87% | 0.37% | 1.61% | 1.45% | 1.30% | 1.82% | 1.71% | 1.50% |
| Public + | 35.76% | 35.62% | 37.46% | 43.82% | 43.29% | 43.60% | 40.59% | 39.27% | 41.76% | 42.58% | 40.72% | 42.58% |
| No. of Shareholders | 1,43,778 | 1,79,049 | 2,15,587 | 2,82,055 | 2,86,027 | 2,80,427 | 3,05,636 | 3,40,511 | 3,60,131 | 3,73,806 | 3,98,043 | 4,24,721 |
Financials of Apollo Micro Systems Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 87 | 91 | 135 | 91 | 161 | 148 | 162 | 134 | 225 | 252 | 293 | 251 | 388 |
| Expenses + | 69 | 67 | 107 | 69 | 128 | 110 | 126 | 93 | 166 | 202 | 226 | 198 | 277 |
| Operating Profit | 18 | 24 | 29 | 22 | 33 | 38 | 36 | 41 | 59 | 50 | 68 | 54 | 111 |
| OPM % | 21% | 26% | 21% | 25% | 20% | 26% | 22% | 31% | 26% | 20% | 23% | 21% | 29% |
| Other Income + | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 2 | 4 |
| Interest | 7 | 7 | 8 | 8 | 7 | 9 | 11 | 12 | 13 | 14 | 9 | 11 | 15 |
| Depreciation | 3 | 3 | 3 | 3 | 4 | 4 | 4 | 4 | 5 | 6 | 7 | 8 | 8 |
| Profit before tax | 9 | 14 | 18 | 12 | 22 | 26 | 22 | 25 | 43 | 32 | 55 | 38 | 92 |
| Tax % | 25% | 31% | 29% | 29% | 30% | 30% | 36% | 30% | 30% | 28% | 33% | 33% | 50% |
| Net Profit + | 7 | 10 | 13 | 8 | 16 | 18 | 14 | 18 | 30 | 23 | 37 | 25 | 46 |
| EPS in Rs | 0.28 | 0.35 | 0.46 | 0.28 | 0.51 | 0.60 | 0.46 | 0.55 | 0.93 | 0.72 | 1.05 | 0.72 | 1.30 |
Financials of Apollo Micro Systems Ltd
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 246 | 203 | 243 | 298 | 372 | 562 | 904 | 1,185 |
| Expenses + | 197 | 165 | 198 | 233 | 288 | 433 | 685 | 902 |
| Operating Profit | 49 | 39 | 46 | 64 | 84 | 129 | 219 | 283 |
| OPM % | 20% | 19% | 19% | 22% | 23% | 23% | 24% | 24% |
| Other Income + | 2 | 1 | 1 | -2 | 2 | 3 | 5 | 10 |
| Interest | 15 | 16 | 17 | 22 | 30 | 34 | 47 | 48 |
| Depreciation | 10 | 9 | 9 | 10 | 11 | 15 | 22 | 28 |
| Profit before tax | 25 | 14 | 20 | 29 | 44 | 83 | 155 | 216 |
| Tax % | 45% | 29% | 28% | 35% | 29% | 32% | 31% | |
| Net Profit + | 14 | 10 | 15 | 19 | 31 | 56 | 107 | 131 |
| EPS in Rs | 0.67 | 0.49 | 0.70 | 0.90 | 1.10 | 1.84 | 3.16 | 3.79 |
| Dividend Payout % | 7% | 5% | 4% | 3% | 5% | 14% | 8% |
Financials of Apollo Micro Systems Ltd
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 21 | 21 | 21 | 21 | 28 | 31 | 36 | 37 |
| Reserves | 275 | 284 | 299 | 363 | 490 | 576 | 1,277 | 1,482 |
| Borrowings + | 83 | 117 | 116 | 144 | 208 | 335 | 543 | 663 |
| Other Liabilities + | 86 | 110 | 164 | 165 | 230 | 357 | 512 | 758 |
| Total Liabilities | 465 | 532 | 599 | 693 | 956 | 1,299 | 2,368 | 2,940 |
| Fixed Assets + | 50 | 49 | 86 | 106 | 144 | 182 | 477 | 494 |
| CWIP | 37 | 52 | 30 | 32 | 35 | 72 | 196 | 320 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 378 | 430 | 484 | 555 | 777 | 1,045 | 1,694 | 2,127 |
| Total Assets | 465 | 532 | 599 | 693 | 956 | 1,299 | 2,368 | 2,940 |
Financials of Apollo Micro Systems Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 47 | 6 | 43 | -16 | -76 | 10 | -130 |
| Cash from Investing Activity + | -19 | -23 | -24 | -35 | -60 | -91 | -357 |
| Cash from Financing Activity + | -36 | 17 | -19 | 51 | 136 | 121 | 536 |
| Net Cash Flow | -8 | 0 | 0 | -0 | -0 | 40 | 49 |
| Free Cash Flow | 20 | -16 | 21 | -50 | -131 | -82 | -357 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 108% | 24% | 98% | -21% | -87% | 13% | -50% |
Financials of Apollo Micro Systems Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 201 | 305 | 205 | 180 | 231 | 155 | 194 |
| Inventory Days | 421 | 546 | 597 | 594 | 612 | 553 | 478 |
| Days Payable | 115 | 189 | 258 | 195 | 239 | 258 | 230 |
| Cash Conversion Cycle | 507 | 661 | 544 | 579 | 605 | 450 | 442 |
| Working Capital Days | 312 | 372 | 314 | 319 | 348 | 253 | 256 |
| ROCE % | 8% | 9% | 11% | 12% | 14% | 15% |
Guidance history
How Apollo Micro Systems Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 40%+ | Flat | Planned | Planned | Rising |
| Q4 FY26 call → | 20–40% | Flat | Planned | — | Rising |
| Q3 FY26 call → | 40%+ | Up 0–2% | Planned | Planned | Rising |
| Q2 FY26 call → | 40%+ | Flat | Planned | — | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
81 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +41.7% | 83% |
| Last 6 months | +34.2% | 84% |
| Last 3 months | +2.3% | 71% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Apollo Micro Systems Ltd: 0.4 × 83 + 0.4 × 84 + 0.2 × 71 = 81.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Apollo Micro Systems Ltd's management said in earlier quarters
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