Shares of Apollo Micro Systems continue to deliver stellar returns for its shareholders, rallying nearly 40% in just seven sessions after releasing its results for the fourth quarter of the financial year 2026.
Shares of the defence player jumped another 5% to hit a fresh 52-week high of Rs 433.80 apiece on NSE in the morning trading hours of Wednesday. The multibagger stock has surged over 44% in one month and 178% in one year. The stock has gained over 57% so far in 2026.
The stock along with its defence peer MTAR Tech have seen significant rally recently. MTAR Tech shares have delivered a whopping 225% return so far in 2026 and 372% in one year.
Apollo Micro Systems Q4 results
Apollo Micro Systems last week reported a 163% year-on-year (YoY) surge in its consolidated net profit to Rs 36.8 crore for Q4 FY26, from Rs 14 crore in the corresponding quarter of the previous financial year. The firm’s revenue from operations meanwhile rallied 81% YoY to Rs 293.3 crore during the quarter under review, as against Rs 161.8 crore in the year-ago period.
For the entire financial year which ended on March 31, 2026, Apollo Micro Systems reported a 90% YoY surge in net profit to Rs 107.4 crore, while revenue from operations jumped 61% You to Rs 940.3 crore. Apollo Micro Systems Managing Director Baddam Karunakar Reddy described FY26 as a “breakthrough year” for the company, driven by record revenue and profitability, the successful acquisition of IDL Explosives through ADIPL, the receipt of a DPIIT licence for UAV manufacturing, and the company securing its first export order.
Reddy also said another acquisition through ADIPL is likely to be completed before the end of the next financial year, which could further enhance the company’s capabilities and future growth prospects.
During the year, the company posted its highest-ever quarterly and annual EBITDA. It also delivered record profit after tax on both a quarterly and yearly basis, while achieving an all-time high order book. In addition, the company surpassed its annual PAT margin guidance.
Also read: MTAR Tech vs Apollo Micro Systems; which multibagger defence stock to buy
HDFC Securities on Apollo Micro Systems
HDFC Securities maintained its ‘Buy’ rating on the shares of Apollo Micro Systems and raised its target price to Rs 400 apiece, a level that the stock has now crossed comfortably. The domestic brokerage expects the defence major to deliver a 50% revenue CAGR between FY26 and FY28, supported by its existing order book of Rs 1,430 crore, a strong weapons pipeline and fresh manufacturing licences.
It added that the firm's two major orders, MIGM worth around Rs 2,000 crore and QRSAM, remain key monitorables going forward. HDFC Securities also highlighted that the company has secured a licence to manufacture arms of calibre above 12.7 mm, significantly expanding its future order opportunity pipeline and strengthening long-term revenue visibility. Factoring in these growth drivers, the domestic brokerage now expects a 62% PAT CAGR over FY26-FY28, sharply higher than its earlier estimate of 48% for the same period.
After the sharp rally however, Apollo Micro Systems shares are trading with a P/E ratio of more than 137x. The company currently has a market capitalisation of nearly Rs 15,500 crore.
