Defence multibagger Apollo Micro Systems has maintained its upward trend in recent sessions, with the stock witnessing a sharp rise in buying interest following the release of its September-quarter results, which came in above analysts’ estimates.
The upbeat results also prompted domestic brokerage firm Systematix Institutional Equities to maintain its bullish stance on the stock, retaining its Buy rating and target price of ₹570 apiece, indicating an upside potential of 37% from the stock's latest close of ₹415.
Earlier this week, the company reported a 55.6% year-on-year increase in net profit to ₹48.4 crore, while revenue from operations surged 72.2% YoY to ₹388 crore. EBITDA rose 87.6% year-on-year to ₹111 crore from ₹59.2 crore, while the EBITDA margin expanded to 28.6% from 26.3%.
The brokerage said that the company continues to outperform expectations on both revenue and margin fronts. With Unit III now coming towards the final stage of completion and a significant capacity ramp-up planned in its explosives business, it believes growth rates to sustain.
The robust order pipeline remains firm with MIGM Mines (expected before Mar '27), Moored Mines, AHWT, QRSAM and Pinaka orders expected in the near term.
Systematix said that the company expects an Rs120 billion order inflow in the next two years. Some of the larger programs involved include MIGM Mine (RFQ expected in November, order expected before March 31, 2027) and Heavy Weight Torpedo (RFQ submitted, next 1 month) QRSAM, Pinaka, Heavy Weight Torpedo (expecting order next month, RFQ out for the same (13 no.s) on fast track. 135 nos after that).
The company incorporated ShauryAstra Defence Systems on August 21, 2026, to undertake the design and development of complete weapon systems. The company subscribed to a 34% stake in the entity by acquiring 3,400 shares for ₹34,000, making it an associate company.
The entity is headed by Dr V.K. Saraswat, who has four decades of experience in Indian defence research and policymaking, including roles as a missile scientist, head of the Defence Research and Development Organisation (DRDO), and a member of NITI Aayog. Its mandate covers complete weapon systems, long-range systems, unmanned platforms and advanced defence technologies.
Even as the broader markets remained highly volatile throughout 2026, the stock continued its winning run, rallying 52% so far this year. The latest gains extend its winning streak to a seventh consecutive year. The stock delivered a sharp 135% return in 2025, following a 290% gain in 2023.
Cumulatively, the stock has gained 454% over the past three years and 3,400% over the past five years. From its 2019 low of ₹6.50 apiece, the stock has surged 6,284%.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Ksheera Sagar has been working as a Market Research Analyst at LiveMint for the past four years, covering stocks, commodities, and broader financial markets. In this role, he closely tracks daily market movements, corporate earnings, sector trends, and macroeconomic developments. <br><br> He has over a decade of experience in the financial services industry and has previously worked with multiple organisations, including global investment bank J.P. Morgan, bringing strong research experience into the newsroom. <br><br> During his career, he has gained extensive exposure to equity research, market analysis, and financial data interpretation, strengthening his expertise across asset classes and market cycles. <br><br> He is known for his data-driven analysis and crisp, listicle-style market stories that break down complex financial developments across key markets for a wide audience. His strong research skills enable him to write detailed and insightful stories on stocks and sectors, focusing on the underlying factors driving market movements. <br><br> His work combines quantitative insights with clear storytelling, presenting financial developments in a clear and structured manner. Moreover, he enjoys writing multibagger and listicle-style copies. Outside of work, Ksheera enjoys playing the piano and exploring new places. He has a keen interest in travel, music, and continuously learning about global markets and economic trends.
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