1:10 Stock Split, 2.5% : Aerospace Co Unveils New Manufacturing Facility, Up 255% From Last Ex-Split

Aerospace and defence company, Apollo Micro Systems has laid the foundation for integrated plants for indigenous defence systems (IPiDS). The company is into the development of Indigenous technologies and is one of the first companies in Hyderabad working for the Department of Space and Defence, offering design services. On February 20th, Apollo Micro was in a bearish trend, however, despite the hiccups, the stock price is a multi-bagger.

On BSE, Apollo Micro's share price was trading at Rs 126.20 apiece up by 2.52% with a market cap of Rs 3,563.37 crore while writing this copy. However, since its last ex-split, Apollo Micro has given nearly 255% returns.

In its regulatory filing, Apollo Micro said, the growing market for Defence Electronics and focus on Indigenous technologies in recent years has increased the business potential of the company. The company has laid a roadmap to expand its manufacturing infrastructure by augmenting the facilities with capacity expansion in 5 Acres of Land at Hardware Park-2 situated at Pahadi Sharif, Hyderabad, Telangana.

Also, the company is planning to manufacture Missiles and its sub-systems and also undertake MRO of the weapons
in this facility. The company is also working closely to manufacture Unmanned Aerial Systems and Unmanned Ground Systems through this facility.

This manufacturing facility shall be built on around Five Acres of land with a total built-up area of 3,50,000 sq.
Ft. with end-to-end manufacturing and qualification set-up as per international standards with a Total investment of Rs 210 Crores. The company intends to provide additional employment to around 400 people.

Apollo Micro Systems' share price has surged significantly since its ex-split which was on May 4, 2023, for its stock split ratio of 1:10. The stock was at Rs 34.65 apiece on the ex-split day, and rallied to as much as 254.55% on BSE.

Disclaimer: The write-up highlights the latest development and its performance since its stock split, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.