Summary:
Apollo Micro Systems shares gained over 10% after the company reported 72% year-on-year revenue growth and 54% profit growth in Q2FY27. EBITDA margins improved, while its order book reached ₹1,765 crore, strengthening visibility for future defence business.
Shares of Apollo Micro Systems (NSE: APOLLO) surged over 10% in trade on November 11, 2026 following a robust set of quarterly earnings and a swelling defense order book.
The company’s consolidated revenue grew 72% year-on-year in Q2FY27 and its net profit grew 54%. Its five-year share-price growth has been as substantial, mirroring the rapid increase in its market value.
Apollo Micro Systems Q2FY27 Results
Apollo Micro Systems’ consolidated revenue stood at ₹388 crore in the September quarter against ₹225 crore in Q2FY26.
Revenue was up 72% YoY.
Net profit increased to about ₹46 crore from ₹30 crore, a growth of 54%.
EBITDA grew 88% to ₹111 crore from ₹59 crore in the corresponding quarter last year.
EBITDA margin was up at 28.6% versus 26.3%.
| Financial metric | Q2FY27 | Q2FY26 |
| Revenue | 388 cr | 225 cr |
| EBITDA | ₹111 crore | ₹59 crore |
| Net Profit ₹46 crore ₹30 crore |
H1FY27 revenue was approximately ₹639.4 crore compared to ₹358.8 crore in the corresponding period last year.
Net profit rises to ₹71.4 crore in first half, up nearly 50% YoY.
The improvement reflects better business execution along with higher operating profitability.
Why Apollo Micro Systems Shares Were Jumping?
Apollo Micro Systems stock jumped nearly 10.5% intraday on November 11 to ₹457.65.
The stock opened at around Rs 418.50 as compared to previous close of Rs 413.80.
The company’s latest earnings release, which showed stronger revenue, improved margins and growth in its outstanding order book, sparked interest in buying.
That rally was all the more impressive considering that the broader defense sector was only posting far more modest gains in the same session.
The stock has also provided great returns in a longer time horizon.
Its share price has risen about 3,640% over five years, although historical returns vary depending on the dates used and adjustments for corporate actions.
Such gains are not reflective of the pattern of future returns.
Defense Order Book at ₹1,765 crore
The company’s consolidated order book stood at around Rs 1,765 crore as of September 30, 2026.
Apollo Micro Systems designs and makes electronic and electromechanical systems for defense applications.
Its business includes systems for missile platforms, underwater weapons, electronic control equipment and other specialist defense technologies.
Defense manufacturing orders can be staggered over several financial years.
Revenue is dependent on procurement schedules, production milestones, testing requirements and customer acceptance.
A growing order book therefore increases visibility of potential business activity but does not guaranty that the full amount will be recognized as revenue in a given period.
Will Earnings Momentum Persist?
Apollo Micro Systems begins FY27 H2 with higher revenue, better operating margins and a bigger order book.
The company’s ability to convert outstanding orders into completed deliveries will be a key earnings driver going forward.
The need for working capital also demands attention.
Defense equipment makers may have to buy parts and invest in manufacturing before they get paid in full by their customers.
Capital expenditure, product development costs and the timing of large contracts can impact cash generation.
“The recent share-price rally is the market’s response to stronger reported results but valuation and earnings growth are two different things.
It will be interesting to see if the higher sales volumes can sustain the improvement in profitability seen in Q2FY27 in the coming quarters.
