Multibagger Defense Stock Reports 50% Growth In FY24 PAT, Okays 50% Dividend: Do You Own?

Apollo Micro Systems (AMS), founded in 1985, is a leader in the design, development, and manufacturing of custom-built electronics and electro-mechanical systems for a variety of applications, including home land security, railways, and aerospace, defense, and space. The company has declared its financial results for the quarter and year ended 31st March 2024.

The company said that its revenue from operations in the fourth quarter of FY24 was Rs 135.4 crore, up from Rs 106.8 crore in the same quarter of FY23. On a stand-alone basis, the company's net profit was Rs 13.1 crore in Q4FY24 as opposed to Rs 7.5 crore recorded in the same period of FY23. Apollo Micro Systems' net profit jumped to Rs 31.6 crore for the entire FY2024, which is more than 50% growth compared to Rs 19 Cr in FY23.

The Board of Directors "Considered the recommendation of Final Dividend at the rate of 5% (0.05 paise) per equity share of Re. 1/- each fully paid-up of the Company for the Financial Year 2023-24, subject to the approval of the Members at the forthcoming Annual General Meeting of the Company," said AMS in a stock exchange filing.

"The EPS of the company for the quarter ended 31 March 2024 is Rs.0.53 per share of face value Rs.1 /- each. In comparison, the EPS for the quarter ended 31st March 2023 is Rs 3.63 per share of face value Rs.10/- each. If EPS for March 2023 is considered at face value Rs.1/- per share then EPS would be Rs.0.36/- per share," Apollo Micro Systems said in a stock exchange filing.

Apollo Micro Systems incorporated a new subsidiary "Apollo Defence Industries Private Limited" on 21 September 2023, The company holds 76% control in the subsidiary and it is considered for consolidation for the quarter and year ended 31 March 2024,

"On 28th March 2023 shareholders of the company passed the resolution for subdivision of equity shares of the company of face value of Rs.10/- each to 10 equity shares having face value of Re.1/- each fully paid up and the same got effective from the record date 4th May 2023," said the company in its exchange filing.

One of Dalal Street's multibagger stocks is Apollo Micro Systems, which has produced a multibagger return of 227.72% in the last 1 year. The defense stock has dropped 5.60 per cent year to date (YTD) so far in 2024. The stock had a respectable return of 705.85% over the previous five years and 884.31% over the prior three years.