Apollo Micro SystemsNSE:APOLLO
Current view Q4 2026
Makes electronics for nearly every Indian missile and naval weapon, now adding explosives. A booming order book lifted sales 61% and doubled profit, but cash burn is heavy and the stock trades near 120x earnings.
Latest exchange filings last 5 · 5 after Q4 2026
- 18 Sep ’26Announcement under Regulation 30 (LODR)-Investor Presentation 18 Sep ↗
- 17 Sep ’26AMS Investor presentation for investor meet on 17.09.2026 ↗
- 16 Sep ’26Apollo Micro Systems awarded SALHS ToT; MIGM ceremony held at VIMARSH 2026, entering production phase. ↗
- 15 Sep ’26On 15 Sep 2026, company clarified AP High Court upheld DRDO tender award and financial approval in its favor. ↗
- 14 Sep ’26Apollo Micro Systems to meet investors at Anand Rathi Annual Flagship Conference G-200 Summit 2026 on 22 Sep 2026 in Mumbai. ↗
Exchange filings, with the company's own one-line summary, read off the same page as the figures. Screener publishes only the most recent few, so this is the last 5 — not everything filed since your note, and a quiet-looking list is not proof of a quiet quarter. A filing is marked new when it is dated after the end of the quarter your note covers. Not scored, and not a judgement — a routine repayment notice and a takeover sit in the same list.
AI concall report · Q4 2026
The full earnings-call read behind this view — what management promised, what they delivered, and the earning trigger.
Growth Q4 2026
| Metric | This year vs lastYoY · vs Q4 2025 | vs the quarter beforeQoQ, sequential · vs Q3 2026 | 3-year yearly average3Y CAGR · compounded | 5-year yearly average5Y CAGR · compounded |
|---|---|---|---|---|
| Sales | ▲ +80.9% | +16.3% | +44.8% | +34.8% |
| Operating profit | ▲ +88.9% | +36.0% | +53.4% | +41.1% |
| EPS | ▲ +128.3% | +45.8% | +52.0% | +45.2% |
| PAT | ▲ +164.3% | +60.9% | — | — |
Tinted rows drive the Tier. Tier = the weaker of YoY Sales and YoY PAT growth. Here the weaker is Sales at +80.9%, which is ≥ 20% → Tier 1.
QoQ is sequential, not a trend. For most Indian companies the March quarter is seasonally the largest, so a June-quarter fall against it is a calendar effect. Only the YoY column feeds the Tier.
Multibagger potential
Average56/100
Growing fast — and the market has noticed. Profit per share grew 52% a year, and buyers now pay more for each rupee of it than they did a year ago. Some of the re-pricing has already happened.
₹408 → ₹817 needs the P/E at 72× — it is 126× today, and has ranged 17× to 159× over the last 5 years. The rest would come from earnings growing as they have.
What you pay for its profitlog scale · 5-year range
Tripling needs 107× — it has traded there — high was 159×.
At ₹221 the price-tag on its earnings reaches the 68× it is being projected toward — the point where being cheap against that yardstick is used up.
Re-rated already, on growth that doesn't fully back it.
How this is calculated
This is arithmetic, not a forecast — Return = ΔEPS × ΔMultiple. It says what would have to be true, not how likely it is, and "earnings keep growing at this rate for three more years" is the assumption doing the most work. This is a mid-cap at ₹13,768 cr, so the odds of a re-rate are not fighting its own size.
Growth rate used: 52.0% — the weakest of EPS / Sales / Op-profit from 3-year EPS CAGR. Latest quarter reads 60%.
How it compares with its rivals Defence · 6 of 33 listed
It earns 14% on its capital, fifth of 6, and it is the most expensive of those shown.
| Company | Price | P/E | Size | ROCE | Profitlast qtr | Saleslast qtr |
|---|---|---|---|---|---|---|
| Apollo Micro Sys | ₹376 | 115.3× | ₹13,976 Cr | 14.5% | +45.4% | +88.1% |
| Hind.Aeronautics | ₹4,862 | 34.8× | ₹3.25 L Cr | 32.0% | +14.9% | +14.4% |
| Bharat Electron | ₹398 | 47.4× | ₹2.91 L Cr | 36.4% | +8.7% | +24.9% |
| Bharat Dynamics | ₹1,175 | 82.7× | ₹43,071 Cr | 13.9% | +547.4% | +130.8% |
| Garden Reach Sh. | ₹2,387 | 34.2× | ₹27,342 Cr | 42.8% | +43.8% | +38.5% |
| Data Pattern | ₹4,533 | 93.9× | ₹25,377 Cr | 21.9% | −13.5% | +16.8% |
Screener's own peer group, from the request already made for the industry P/E. It serves the industry's largest names by market cap, not companies of a similar size, so treat this as context rather than a like-for-like table; this company is always shown. On a phone the price, size and sales columns are dropped rather than pushed off the edge. Not part of the score.
Business quality to Jun 2026
| Are the margins widening? | broadly flat | operating margin 22% → 21% over 3 years |
|---|---|---|
| Did the profit turn into cash? | very little of it arrived as cash | -50% last year, -41% over three · free cash flow −₹357 cr, positive in 1 of 5 years |
| Is the growth borrowed? | lightly borrowed | ₹543 cr — 0.41× its own equity (was 0.55×) |
| Is it being collected? | customers are taking longer to pay | 194 days to collect, up 39 in a year · cash cycle 443 days |
| Who has been buying? | the promoters have held steady | promoters 50.0% (−0.7 in a year), 52.7% → 50.0% over 2.8 years · FIIs 7.6% (+0.4) · DIIs 1.7% (+0.1) · shareholders 85,206 → 3,98,043 |
| What does it earn on its capital? | earns a fair return on its capital | ROCE 14.5% · ROE 11.8% |
Fetched from the filings, not typed — and deliberately not part of the score. These are the questions the score cannot ask: it reads growth, price and trend, so a company can score well while its profit never becomes cash. Weigh these beside the note, not against the number.
Screener's own checklist not mine, not the score
In its favour
- Company is expected to give good quarter
- Company has delivered good profit growth of 61.6% CAGR over last 5 years
Against it
- Stock is trading at 10.4 times its book value
- Promoter holding has decreased over last quarter: -2.00%
- Company has a low return on equity of 10.2% over last 3 years.
- Promoters have pledged 30.5% of their holding.
- Company has high debtors of 194 days.
Generated by screener.in from a fixed checklist — not written by me and not an input to the score. It is here as a second machine opinion to weigh against the note; where it disagrees with the view above, the note is the considered one.