Defense Stock Secures Rs 50 Crore Worth Orders Amid Expanding Strategic Partnerships

Hyderabad-headquartered Apollo Micro Systems Ltd announced today (10 February) that it has secured fresh orders worth Rs 50.97 crore from multiple private sector companies. The orders relate to the execution of security solutions and the supply of advanced defence products, according to an exchange filing by the company.

“We are pleased to inform you that the company has received orders worth Rs 50.97 crore for execution of security solutions and supply of defence products from multiple private companies,” Apollo Micro Systems stated.

Strategic Partnership with GRSE

As part of its expansion strategy, the company recently signed a strategic agreement with Garden Reach Shipbuilders & Engineers Ltd (GRSE) to jointly explore business opportunities in defence and other sectors.

The partnership aims to produce and export underwater weapons, underwater communication systems, and air defence systems. The two companies will also collaborate on supplying advanced weapons and electronic systems for both defence and non-defence industries.

Strong Market Performance and Milestones

Apollo Micro Systems, a significant player in aerospace and transportation technology, is part of the BSE SmallCap index. Despite closing in the red at Rs 125.05 per share on Friday, the company has exhibited remarkable long-term performance.

• 3-Month Performance: Shares have risen 25 per cent
• 1-Year Performance: Remained relatively flat
• 2 and 3-Year Returns: Yielded multibagger returns of 259 per cent and 777 per cent, respectively
• 5-Year Growth: Surged over 1,400 per cent

Earlier in May 2023, the company completed a stock split in the ratio of 10:1, making its shares more accessible to investors.

Market Valuation and Trading Range

Apollo Micro Systems commands a market valuation of Rs 3,832.65 crore with a 52-week trading range between Rs 157 and Rs 88.1.

The company’s strategic moves and consistent orders in the defence sector position it as a promising player in the evolving defence and aerospace landscape.

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