FIIs Stake Up 11.01%: Small Cap Defense Stock Posts 51% PAT Growth In Q3

At the close of trading on Friday, Apollo Micro Systems Ltd., a small-cap firm in the defense industry, had a market valuation of Rs 3,504.07 Cr. Apollo Micro Systems is one of Dalal Street's multibagger stocks since it gave shareholders returns of more than 312% in only a single year. As a multibagger stock, Apollo Micro Systems has drawn attention from market observers following the announcement of strong financial results for the quarter ending in December 2023 and the recent acquisition of a sizable order contract from IOCL.

On a consolidated basis, the company reported a net income of Rs 91.84 Cr during the quarter ended 31st December 2023 up by 11.06% YoY from Rs 82.69 Cr in the same quarter of the previous fiscal. Its net expenses stood at Rs 70.17 Cr during the quarter under review which was Rs 67.19 Cr in the corresponding quarter of FY23. Apollo Micro Systems said its EBIT stood at Rs 21.67 Cr in Q3FY24 up by 39.80% YoY from Rs 15.50 Cr in Q3FY23. Its consolidated net profit reached Rs 9.96 Cr in Q3FY24 which was Rs 6.60 Cr in the year-ago quarter, representing a growth of 51% YoY.

The Board of Directors has "Considered and approved the proposal for Purchase of Land situated at Hardware Park, Hyderabad subject to approval of Telangana State Industrial Infrastructure Corporation (TSIIC) Hyderabad. On receipt of TSIIC approval, the Board approved an estimated investment of Rs. 60.00 Crores for setting up of manufacturing facility," said Apollo Micro Systems in a stock exchange filing.

During Q3FY24, the company recorded promoters' shareholding of 53.21%, FIIs stake of 11.01%, DIIs stake of 0.01%, and public stake of 35.76% compared to 52.67% promoters' stake, 5.27% FIIs stake, 3.31% DIIs stake and 38.76% public stake in Q2FY24. The number of shareholders climbed to 1,43,778 in the quarter under review which was 85,206 in the second quarter of the current fiscal year.