Loading…
Hyderabad maker of ruggedised electronic systems for India's missile, naval and space programs.
Hyderabad maker of ruggedised electronic systems for India's missile, naval and space programs.
Builds electronics to defence designs and is paid order by order, mostly by state-owned defence firms and agencies rather than armed forces directly, so sales are lumpy and depend on delivery dates and the government's budget. Few suppliers are approved for each programme, which holds its place once qualified.
In one line: A small, India-focused defence-electronics integrator.
Moat: narrow (customer qualification, IP / patents, regulatory licence). Long-qualified, limited-source supplier on specific indigenous defence programs.
Headquarters: Hyderabad, India · Founded: 1985 · Employees: 434
Size Apollo Micro Systems (APOLLO.NS) is an India Industrials company (Electronic Production Equipment) with a market value of $1.63B, the 436th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹413.65 on 6 Nov 2026.
Performance Over six months the shares gained 31.5%, against +2.0% for the median peer and 0.0% for the India market (cap-weighted) — 4th highest of 8 in its peer set.
Growth Revenue grew 77.1% over the last twelve months (peer median +34.9%); the operating margin is 21.5% (peer median 9.5%).
Valuation It trades at 92.7× forward earnings against a peer median of 61.7× (most expensive of 7).
Capital Return on invested capital runs 6.7 points below its cost of capital (16.6% WACC).
Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹11.8B | ₹9.04B | ₹5.62B | ₹3.72B | ₹2.98B |
| Revenue growth | — | +61% | +51% | +25% | — |
| Gross profit | ₹3.17B | ₹2.32B | ₹1.30B | ₹867M | ₹667M |
| EBITDA | ₹2.83B | ₹2.26B | ₹1.31B | ₹847M | ₹648M |
| Net income | ₹1.39B | ₹1.13B | ₹564M | ₹311M | ₹188M |
| Free cash flow | n/a | -₹4.00B | -₹1.14B | -₹1.60B | -₹712M |
| Capital expenditure | n/a | ₹2.28B | ₹922M | ₹555M | ₹334M |
| Total debt | ₹6.63B | ₹5.43B | ₹3.35B | ₹2.08B | ₹1.44B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Apollo Micro Systems APOLLO.NS | $1.63B | +32% | +77% | 21% | 92.7× | n/a |
| Data Patterns (India) DATAPATTNS.NS | $2.24B | -11% | +34% | 37% | 60.2× | 61.0% |
| Astra Microwave Products ASTRAMICRO.NS | $1.56B | +34% | +4% | 25% | 61.8× | 53.3% |
| Paras Defence & Space Technologies PARAS.NS | $1.06B | +43% | +42% | 23% | 85.7× | n/a |
| Bharat Electronics BEL.NS | $30.6B | -10% | +20% | 26% | 41.5× | 38.2% |
| MTAR Technologies MTARTECH.NS | $1.77B | -18% | +108% | 20% | 64.7× | 48.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | APOLLO.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.3% | -19.2% | 2nd highest of 9 |
| 6-month return | +31.5% | +2.0% | 4th highest of 8 |
| Distance from 52-week high | -11.3% | -27.4% | highest of 9 |
| Revenue growth (TTM) | +77.1% | +34.9% | 2nd highest of 8 |
| Operating margin | 21.5% | 9.5% | 2nd highest of 8 |
| Forward P/E | 92.7× | 61.7× | most expensive of 7 |
| ROIC minus cost of capital | -6.7 pp | -4.6 pp | 4th lowest of 8 |
| EV / EBITDA | 55.8× | 40.9× | 3rd most expensive of 8 |
| Net debt / EBITDA | 1.6× | 0.3× | 2nd most indebted of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Apollo Micro Systems APOLLO.NS | India | $1.63B | +32% | +77% | 21% | 92.7× | n/a | n/a |
| PG Electroplast PGEL.NS | India | $1.65B | +2% | +21% | 6% | 49.3× | n/a | n/a |
| Avalon Technologies AVALON.NS | India | $1.34B | +51% | +44% | 10% | 69.4× | n/a | n/a |
| L&F 066970.KS | South Korea | $2.15B | -62% | +81% | 8% | n/a | n/a | n/a |
| Data Patterns (India) DATAPATTNS.NS | India | $2.24B | -11% | +34% | 37% | 60.2× | 61.0% | +32.8% |
| Kaynes Technology India KAYNES.NS | India | $2.30B | -26% | +35% | 12% | 55.5× | n/a | n/a |
| Syrma SGS Technology SYRMA.NS | India | $2.97B | +33% | +62% | 10% | 63.2× | 33.7% | +61.8% |
| Cyient DLM CYIENTDLM.NS | India | $649M | +82% | -2% | 7% | 73.3× | 58.4% | +15.0% |
| Coreintelligence 3718.TWO | Taiwan | $518M | n/a | n/a | n/a | n/a | n/a | n/a |