Apollo Micro Systems Ltd.

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apollo-micro.comBSE: 540879NSE: APOLLO

Market Cap₹ 15,689 Cr.

Current Price

High / Low₹ 466 / 180

Stock P/E121.6

Book Value₹ 41

Price to Book5.08

Dividend Yield0.06 %

ROCE15.6 %

ROE12.8 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Electronical components/goods: 100.0%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company has delivered good profit growth of 63.7% CAGR over last 5 years
Latest quarter profit grew 43.3% YoY, showing strong momentum
Company has delivered good sales growth of 30.4% CAGR over last 5 years
Operating margins have improved to 28.0% from 22.0%
Company maintains a comfortable, low leverage position
Company has a consistent dividend-paying track record

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Promoter holding has decreased over last 2 years: -5.1pp
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.04x)
Free cash flow has been persistently negative
Equity base is being diluted - shares outstanding up 72.1%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsAerospace & Defense

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	HAL	5007.00	35.92	334855.64	0.90	1589.66	14.88	5515.17	14.45	31.99	27.89
2.	BEL	406.20	48.31	296923.22	0.62	1054.53	8.82	5546.98	24.94	36.68	25.22
3.	BDL	1217.10	85.67	44614.32	0.40	118.79	547.36	572.24	147.63	13.91	14.52
4.	DATAPATTNS	4881.25	3553.00	27327.17	0.20	220.60	765.10	1160.30	1068.13	23.18	27.04
5.	ASTRAMICRO	1704.95	85.63	16187.65	0.14	12.35	-24.12	176.66	-11.55	20.29	20.40
6.	ZENTEC	1762.35	88.33	15912.78	0.06	31.85	-39.99	141.64	-10.48	16.83	27.13
7.	APOLLO	422.20	129.32	15688.93	0.06	252.16	1325.84	2512.93	1781.17	14.52	21.38
8.	AEQUS	230.35	310.22	15448.78	0.00	-532.28	-6067.26	3955.45	1486.69	1.50	4.47
9.	PARAS	1471.25	125.53	11856.41	0.07	20.74	45.34	127.91	37.26	18.68	24.95
10.	UNIMECH	1585.90	112.08	8072.55	0.00	27.86	45.70	107.62	70.85	12.10	36.35
11.	AXISCADES	1878.15	219.84	7988.43	0.00	-14.76	-170.76	183.35	-24.77	14.56	4.73
12.	CENTUM	4249.80	126.43	6273.56	0.12	10.55	135.70	204.15	-22.53	26.02	11.54

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	58	87	91	135	91	161	148	162	134	225	201	205	156
	45	69	67	107	69	128	110	126	93	166	148	145	123
Operating Profit	13	18	24	29	22	33	38	36	41	59	53	60	33
OPM %	22.10%	21.08%	26.26%	21.23%	24.53%	20.42%	25.60%	22.28%	30.68%	26.29%	26.54%	29.43%	21.39%
	0	0	1	1	1	1	1	1	1	3	4	8	7
Interest	8	7	7	8	8	7	9	11	10	10	9	8	9
Depreciation	3	3	3	3	3	4	4	4	4	5	5	5	6
Profit before Tax	3	9	15	18	12	23	26	23	28	48	44	55	41
Tax %	39.60%	25.53%	30.63%	28.87%	29.14%	29.96%	30.36%	36.38%	30.19%	30.45%	30.10%	32.44%	31.61%
Net Profit	2	7	10	13	9	16	18	14	19	33	31	37	28
	0.08	0.30	0.42	0.53	0.29	0.53	0.61	0.47	0.62	1.02	0.93	1.11	0.77

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	201	220	263	246	203	243	298	372	562	765	787
	160	171	215	197	165	198	233	288	433	551	581
Operating Profit	41	49	48	49	39	46	64	84	129	214	206
OPM %	20.22%	22.33%	18.42%	19.79%	18.98%	18.72%	21.55%	22.57%	22.99%	27.96%	26.20%
	2	0	4	2	1	1	-2	3	4	17	23
Interest	11	12	13	15	16	17	22	30	34	37	36
Depreciation	4	6	6	10	9	9	10	11	15	19	21
Profit before Tax	27	31	33	25	14	20	29	45	84	175	188
Tax %	35.65%	38.09%	10.95%	44.53%	29.09%	27.83%	35.23%	29.47%	31.70%	30.95%	31.21%
Net Profit	17	19	29	14	10	15	19	32	57	121	129
EPS	0.00	0.00	0.00	0.00	4.94	7.04	6.22	1.12	1.87	3.37	—
Dividend Payout %	0.00%	0.00%	7.13%	7.41%	5.06%	3.55%	2.72%	4.46%	13.39%	7.41%	—

COMPOUNDED SALES GROWTH

10 Years:: 17%
5 Years:: 30%
3 Years:: 37%

COMPOUNDED PROFIT GROWTH

10 Years:: 25%
5 Years:: 64%
3 Years:: 85%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 105%
3 Years:: 94%
1 Year:: 46%

RETURN ON EQUITY

10 Years:: 10%
5 Years:: 8%
3 Years:: 10%
Last Year:: 13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	14	21	21	21	21	21	21	28	31	36
	50	235	261	275	284	299	317	480	578	1,246
	79	78	104	83	115	115	143	199	284	443
Trade Payables	68	93	37	57	78	128	112	169	280	356
	35	37	30	30	31	36	100	79	89	213
Total Liabilities	246	463	453	465	530	598	692	955	1,262	2,294
	30	29	42	50	49	86	106	144	181	277
Capital Work in Progress	13	29	28	37	50	25	25	24	59	171
	0	0	0	0	1	1	1	1	2	1
	114	172	173	208	226	296	342	434	601	760
	0	0	0	0	0	0	0	235	238	453
Cash & Bank	9	106	27	12	13	16	14	21	22	84
	80	128	183	158	191	175	205	96	159	548
Total Assets	246	463	453	465	530	598	692	955	1,262	2,294

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	17	-37	-65	53	11	45	-13	-78	12	-153
Cash from Investing	-17	-110	64	-19	-23	-25	-35	-59	-93	-576
Cash from Financing	-11	152	10	-36	15	-18	51	136	81	749
	-14	-0	1	-8	0	0	-0	0	0	20

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	55.12	55.12	55.12	55.12	50.65	50.33	51.98	51.98	49.98
	7.42	0.19	0.74	0.93	7.16	8.94	4.97	3.64	7.59
	0.00	0.87	0.87	0.37	1.61	1.45	1.30	1.82	1.71
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	37.46	43.82	43.28	43.59	40.59	39.27	41.76	42.58	40.71

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Copy of Newspaper Publication

2026-09-09 - Apollo Micro Systems Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-09

Clarification - Financial Results

2026-09-09 - The Exchange has sought clarification from Apollo Micro Systems Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.

2026-09-08

Record Date

2026-09-08 - Apollo Micro Systems Limited has informed the Exchange that Record date for the purpose of Dividend is 23-Sep-2026.

2026-09-08

Outcome of Board Meeting

2026-09-08 - Apollo Micro Systems Limited has informed the Exchange regarding Outcome of Board Meeting held on September 08, 2026.

2026-08-27

Credit Rating

2026-08-27 - Apollo Micro Systems Limited has informed the Exchange about Credit Rating

2026-08-22

General Updates

2026-08-22 - Apollo Micro Systems Limited has informed the Exchange about General Updates

2026-08-21

General Updates

2026-08-21 - Apollo Micro Systems Limited has informed the Exchange about General Updates

2026-08-20

Investor Presentation

2026-08-20 - Apollo Micro Systems Limited has informed the Exchange about Investor Presentation

2026-08-19

Investor Presentation

2026-08-19 - Apollo Micro Systems Limited has informed the Exchange about Investor Presentation

News

Recent coverage and analyst commentary for APOLLO

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