The shares of Defence equipment manufacture gained 38 percent in two trading sessions after the company appointed M/s MP3 International as its official Middle East representative for supply of defence equipments.
Apollo Micro systems Ltd is a small-cap stock,with a market value of Rs 2,608.53 crores.On Wednesday,The share were trading at Rs 99.65 a share,up 9 percent from previous close price and reached a 52 week high price of Rs 105.35.
As per the exchange filing, Apollo microsystem announced that the company appointed MP 3 International a subsidiary of M/s Grade One group, which specializes in supplying the various military hardware, equipment, pyrotechnics, ammunition, and supplies to different military sectors.
Apollo Microsystem Limited has announced plans to build a new composites manufacturing facility with a Rs 50 million investment proposal.
As the official Representative, MP 3 International will support Apollo Microsystems expand its market share and strengthening its relationships with local customers.
The company’s revenue increased by 22.34 percent from Rs. 243.19 crores in FY 21-22 to Rs 294.53 crores in FY 22-23. Further, During same period, Net Profit has increased by 28.24 percent from 14.62 crores to 18.74 crores.
The company reported return ratios in the recent financial year with a return on equity(ROE) at 5.71 percent and return on capital employed(ROCE) at 10.68 percent.
The remarkable performance of the company is witnessed by the stock’s 177 percent return in six months and 349.12 percent return in just a year.
As per recent shareholding pattern, The Promoters of the Company own 52.67 percent of the stake,while foreign institutional investors hold a 5.27 percent stake and Domestic Institutional Investor hold a 3.31 percent stake.
Apollo Microsystems design and development of electronic hardware and software systems and subsystems for DPSUs, DRDOs, and other applications.
Written by :- Abhishek Singh
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