Apollo Micro Systems wins orders worth INR 1,343.45 mn from defence clients
APOLLO · price
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On the reaction day the stock moved 0.7 pts less than Nifty Microcap 250 and 0.2 pts less than its Aerospace & Defense peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Apollo Micro Systems has been awarded orders worth INR 1,343.45 million (about 134 crore) from DRDO, Indian Navy, Defence PSUs, State Government and private industries. Its step-down subsidiary IDL Explosives Limited has also received work worth INR 552.20 million (about 55 crore), executable over a period of two years. Combined new business is about 189.6 crore.
Positive for revenue visibility. Strengthens defence order book with government and PSU clients, supporting long-term growth.