Apollo Micro Systems shares stole the spotlight among defence stocks on Wednesday, November 11, surging as much as 10.5% in intraday trade. The rally significantly outpaced the broader defence pack, with the Nifty India Defence index rising less than 1%.
The small-cap stock has already delivered multibagger returns over the longer term, gaining around 3,640% in five years. With brokerages maintaining a positive outlook and assigning further upside potential, investors are now assessing whether the latest rally has more room to run.
Apollo Micro Systems share price
Apollo Micro Systems shares climbed 10.5% to ₹457.65 apiece during the session. The stock opened at ₹418.50 on the BSE, compared with its previous close of ₹413.80.
The latest surge added to the stock’s strong performance across time periods. Apollo Micro Systems has gained around 17% over the past month and three months, while its returns stood at 43% over six months and 65% over one year.
Over five years, the defence stock has soared approximately 3,640%, delivering substantial multibagger returns to long-term investors.
Apollo Micro Systems Q2 Results
The company reported record performance across key financial metrics in Q2 FY27. Consolidated net profit increased 54% year on year to ₹46 crore in the July-September quarter, compared with ₹30 crore in the corresponding period last year.
Revenue from operations jumped 72% to ₹388 crore from ₹225 crore in Q2 FY26. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 88% to ₹111 crore, against ₹59 crore in the year-ago quarter. EBITDA margin also improved to 28.6% from 26.3%.
The company reported an all-time high consolidated order book of ₹1,765 crore as of September 30, 2026, according to its exchange filing.
Its first-half performance was equally strong. For H1 FY27, net profit rose 49.6% year on year to ₹71.4 crore, compared with ₹47.7 crore in the corresponding period of the previous financial year. Revenue increased 78.2% to ₹639.4 crore from ₹358.8 crore, while EBITDA grew 64.7% to ₹164.9 crore.
Commenting on the performance, Managing Director Baddam Karunakar Reddy said, “Our best-ever Q2 performance reflects strong execution, resilience and an unwavering focus on key priorities. Building on this momentum, we will accelerate execution, sharpen our strategic focus and remain responsive to the evolving needs of the defence sector. With significant opportunities ahead, we are committed to strengthening our capabilities, advancing national defence preparedness and delivering with greater speed, discipline and purpose.”
Apollo Micro Systems shares: Buy, sell or hold?
Brokerages have retained a positive view on Apollo Micro Systems following its strong quarterly performance and growing order book, although their stated target prices and reference prices differ.
ICICI Direct has set a target price of ₹485 for the stock. Against the previous close of ₹413.80, this indicates a potential upside of approximately 17%.
Angel One has also reiterated its positive view and recommended adding the stock, with a target price of ₹475, indicating an upside potential of 15%. Its assessment cited the company’s 72% revenue growth in Q2 FY27, EBITDA margin of 28.6%, net profit of ₹46 crore and record order book of ₹1,765 crore.
The brokerage also highlighted that H1 FY27 revenue growth of 78% had already exceeded the company’s full-year growth guidance of 40-45%. It expects Apollo Micro Systems to sustain earnings growth as it moves up the defence value chain, with expansion into explosives and integrated weapon systems.
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.
