Apollo Micro Systems LimitedQ1 FY27 Results & Financial Update
Apollo Micro Systems Limited: Q1 FY27 consolidated results and company financials – revenue ₹251.29 Cr, PAT ₹25.22 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Apollo Micro Systems Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Apollo Micro Systems reported consolidated revenue from operations of INR 251.29 crore for the quarter ended June 30, 2026, alongside other income of INR 2.25 crore, bringing total consolidated income to INR 253.54 crore.
Consolidated profit before tax (PBT) for Q1 FY27 stood at INR 37.67 crore after accounting for total expenses of INR 215.88 crore.
Total tax expense for the quarter was INR 12.45 crore, leading to a consolidated profit after tax (PAT) of INR 25.22 crore.
Owner-attributable net profit for the quarter was recorded at INR 26.91 crore, while non-controlling interests absorbed a loss of INR 16.97 crore.
Basic and diluted earnings per share (EPS) for the quarter were both reported at INR 0.75 on an expanded equity base following warrant conversions.
Statutory auditors highlighted a material uncertainty regarding the going concern status of certain subsidiaries that recorded negative net worth and ongoing cash losses, though management emphasized the ultimate parent company's financial backing.
Profit before tax (PBT) for the quarter stood at INR 37.67 crore after accounting for total consolidated expenses of INR 215.88 crore, while total tax expense amounted to INR 12.45 crore.
Consolidated profit after tax (PAT) reached INR 25.22 crore for the quarter, reflecting earnings of INR 0.75 per basic and diluted equity share on a face value of INR 1 each.
01 · Business model
What does Apollo Micro Systems do?
Apollo Micro Systems Limited designs, develops, and manufactures high-performance electromechanical components, engineering systems, and allied solutions primarily catering to aerospace, defense, and heavy industries.
The group operates through its principal manufacturing and research facilities located in Hyderabad, Telangana, delivering customized technological subsystems and integrated assemblies.
The business model integrates proprietary R&D with manufacturing execution, serving specialized institutional clients with complex electronic hardware and embedded systems.
02 · Historical context
What shaped the business before this quarter
Apollo Defence Industries Private Limited, a subsidiary, executed a share purchase agreement on May 2, 2025, to acquire a 100% stake in IDL Explosives Limited, completing the buyout on November 15, 2025.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹251.29 Cr |
| Total income | ₹253.54 Cr |
| Profit before tax | ₹37.67 Cr |
| Profit after tax | ₹25.22 Cr |
| EPS | ₹0.75 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Consolidated revenue from operations contributed INR 251.29 crore to the top line during the quarter.
Non-operating sources added INR 2.25 crore to bring total consolidated income to INR 253.54 crore.
Revenue from operations reached INR 251.29 crore for Q1 FY27, underpinned by deliveries across defense electronics, electromechanical systems, and subsidiary-level explosives manufacturing.
Other income contributed INR 2.25 crore to the total consolidated top-line of INR 253.54 crore during the quarter.
What drove margins
Cost of materials consumed stood at INR 196.05 crore, while inventory changes of finished goods, work-in-progress, and stock-in-trade provided a positive adjustment of INR 27.52 crore.
Employee benefit expenses were INR 13.82 crore, and finance costs aggregated to INR 10.72 crore.
Depreciation and amortization expenses reached INR 7.59 crore, and other expenses accounted for INR 14.09 crore.
Cost of materials consumed stood at INR 196.05 crore, complemented by purchases of stock-in-trade of INR 1.12 crore and inventory adjustments of negative INR 27.52 crore.
Employee benefit expenses were INR 13.82 crore, financial costs stood at INR 10.72 crore, depreciation and amortization expenses were INR 7.59 crore, and other expenses accounted for INR 14.09 crore.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The group operates in a single primary business segment: electromechanical components and systems and allied components and services. Consequently, separate segment reporting under Ind AS 108 is not applicable.
06 · Strategy & new businesses
How the company is trying to change its growth mix
The consolidated financial statements include subsidiaries Ananya SIP RF Technologies Private Limited, Apollo Defence Industries Private Limited, Apollo Strategic Technologies Private Limited, and IDL Explosives Limited.
The acquisition of IDL Explosives Limited is accounted for under Ind AS 103, with the purchase price allocation remaining preliminary as of 30 June 2026.
07 · Reported developments
What changed operationally
Several subsidiaries reported positive operational results and earned profits during the current quarter.
Consolidated profit after tax reached INR 25.22 crore for Q1 FY27, with basic and diluted EPS reported at INR 0.75 per share.
All outstanding share warrants were successfully converted into equity shares during the quarter, eliminating residual warrant liabilities.
08 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Paid-up equity share capital increased to INR 37.16 crore following the conversion of all remaining share warrants during the quarter.
Certain subsidiary companies carry large borrowings and liabilities alongside negative net worth and cash losses, creating a going-concern focus addressed via promoter and parent company financial support.
09 · Beyond the numbers
What changed beyond the numbers
Reported update
Auditor Review and Emphasis of Matter
S.T. Mohite & Co., Statutory Auditors, issued an unmodified review conclusion on the consolidated financial results while drawing attention to the going concern emphasis of matter regarding subsidiaries.
Reported update
Warrant Conversion Completion
The balance of 1,43,07,072 share warrants outstanding as of 31 March 2026 was converted into equity shares of face value INR 1 at a price of INR 114 per share on 2 June 2026, leaving no warrants outstanding.
Reported update
Auditor Review and Statutory Notes
S.T. Mohite & Co., Chartered Accountants, issued an unmodified conclusion on the consolidated financial results while emphasizing material uncertainties at subsidiary levels and noting reliance on other auditors for IDL Explosives Limited.
10 · Previous-quarter changes
What changed since the previous quarter
Consolidated revenue from operations shifted from INR 293.26 crore in Q4 FY26 to INR 251.29 crore in Q1 FY27.
Consolidated profit after tax moved from INR 36.79 crore in Q4 FY26 to INR 25.22 crore in Q1 FY27.
11 · Key Q&A
The quarter, answered directly
What does Apollo Micro Systems do?
Apollo Micro Systems Limited designs, develops, and manufactures high-performance electromechanical components, engineering systems, and allied solutions primarily catering to aerospace, defense, and heavy industries.
What is the clearest takeaway from Q1 FY27?
Apollo Micro Systems reported consolidated revenue from operations of INR 251.29 crore for the quarter ended June 30, 2026, alongside other income of INR 2.25 crore, bringing total consolidated income to INR 253.54 crore.
What drove revenue or demand?
Consolidated revenue from operations contributed INR 251.29 crore to the top line during the quarter.
What mattered most for margins or profitability?
Cost of materials consumed stood at INR 196.05 crore, while inventory changes of finished goods, work-in-progress, and stock-in-trade provided a positive adjustment of INR 27.52 crore.
What changed operationally beyond the headline numbers?
The consolidated financial statements include subsidiaries Ananya SIP RF Technologies Private Limited, Apollo Defence Industries Private Limited, Apollo Strategic Technologies Private Limited, and IDL Explosives Limited.
What should the next disclosure help confirm?
Monitor management's execution of business plans to improve profitability and financial stability across loss-making subsidiaries.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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13 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Subsidiary Turnaround: Monitor management's execution of business plans to improve profitability and financial stability across loss-making subsidiaries.
- 02
Subsidiary Financial Recovery: Monitor management's execution of business plans aimed at restoring profitability and positive net worth in subsidiary entities.
- 03
Purchase Price Allocation Finalization: Track the finalization of the purchase price allocation under Ind AS 103 for the IDL Explosives acquisition.
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