Multibagger 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 in focus after it lays the foundation stone and roadmap for a new defence manufacturing facility with an investment of Rs. 210 Crores.
With a market capitalization of Rs. 3,480 Crores, the shares of Apollo Micro Systems Limited were trading at Rs. 123.25, down 0.84 percent from its previous day’s close price of Rs. 124.30.
Apollo Micro Systems Limited laid the foundation stone and roadmap to expand its manufacturing infrastructure by augmenting the facilities. The New manufacturing facility will be built on around Five Acres of land with a total built-up area of 3,50,000 sq. Ft., with an investment of Rs. 210 Crores, with this it also intends to provide additional employment to around 400 people.
Apollo Micro Systems Limited intends to manufacture Missiles, and their sub-systems, and also undertake Maintenance, Repair, and Overhaul (MRO) of the weapons in this facility. It is also working closely to manufacture Unmanned Aerial Systems and Unmanned Ground Systems through this facility.
Apollo Microsystems 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, Integrated Guidance Kit for Various Platforms and Under Water Mines
Its revenue from operations grew by 22.34 percent from Rs. 243 Crores in FY22 to Rs. 298 Crores in FY23, accompanied by increasing profits of Rs. 15 Crores to Rs. 19 Crores.
Written by: Bharath K.S
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