Defence stock engaged in the design, development, and assembly of custom-built electronics and electro-mechanical solutions and many more for aerospace, defence, and others jumped 11 percent in the day’s trade upon signing MoU with Garden Reach Shipbuilders & Engineers Limited for joint development of advanced weapons.
Price Action
With a market capitalization of Rs. 4,092 Crores, the shares of Apollo Micro Systems Limited were trading at Rs. 134 per equity share, up 8 percent from its previous day’s close price of Rs. 124.10.
What Happened
Apollo Micro Systems Limited has signed a Memorandum of Understanding (MoU) with Garden Reach Shipbuilders & Engineers Limited for joint development and supply of advanced weapons and electronic systems for five years.
This involves joint research and development (R&D), co-production, export of Underwater Weapons & Vehicles, Underwater Mines, Underwater Communication Systems and Air Defence Systems and the supply of advanced weapons and electronic systems for both defence and non-defence industries.
About the Company
Apollo Microsystems Limited is engaged in the design, development, and assembly of custom-built electronics and electro-mechanical solutions and many more for aerospace, defence, space, transportation, and homeland security markets.
It has a strong customer base consisting of prominent government institutions such as the DRDO, Indian Army, Indian Navy, and Defence Public Sector Undertakings, as well as private players like Adani, L&T, and many more
Some of the key strategic projects it is working on are, Universal Homming System for Light & Heavy Weight Torpedoes, Landing Gear Actuators for Avionic Platforms, Digital RF Seeker Signal Processor, and Integrated Guidance Kit for Various Platforms and Under Water Mines.
Financials
Its Revenue from operations grew by 84 percent YoY from Rs. 87 Crores in Q2FY24 to Rs. 161 Crores in Q2FY25, accompanied by profits of Rs. 7 Crores to Rs. 16 Crores.
Written by: Bharath K.S
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
