Mumbai (Maharashtra) [India], November 27: Apollo Micro Systems Limited (APOLLO), a 40-year-old pioneer in defence technology, today announced a successful warrant conversion that strengthens its capital base, alongside a strategic collaboration with premier national institutions and a landmark quarterly performance that underscores accelerating operational momentum.
The company allotted 1,21,47,964 equity shares to six investors — including select promoters, a whole-time director and non-promoter groups — following conversion of warrants issued on a preferential basis. In an exchange filing dated November 26, Apollo Micro Systems said its paid-up equity capital has increased to ₹35.43 crore, comprising 35,43,91,700 shares of face value ₹1 each after the conversion. The conversion price per share was fixed at ₹114, with ₹85.50 (75% of the issue price) received at the time of conversion. This allotment forms part of a larger preferential issue earlier approved, covering 3.80 crore warrants, each convertible into one equity share. To date, 2,08,59,246 warrants out of 3,80,67,058 due for conversion have been converted into equity; warrants not exercised within 13 months of allotment will lapse and any amount paid on such warrants will be forfeited.
In a significant advancement for indigenous defence R&D, Apollo Micro Systems has entered a strategic tri-party Memorandum of Understanding (MoU) with the Indian Institute of Technology, Chennai and the Indian Navy, represented by the Directorate General of Naval Armament Inspection (DGNAI). The MoU — exchanged on November 25, 2025 during the Swavalamban 2025 event in New Delhi in the presence of the Defence Minister, Shri Rajnath Singh — aims to accelerate development of home-grown defence technologies by collaboratively addressing present and future operational challenges of the Armed Forces. The collaboration directly supports the Government's ‘Aatmanirbhar Bharat’ initiative, and positions Apollo as an active industry partner in delivering capability-driven solutions for national strategic needs.
Apollo Micro Systems also reported exceptional financial results for Q2FY26, achieving a historic quarterly revenue of ₹225.26 crore, up 40% year-on-year from ₹160.71 crore in Q2FY25, reflecting robust order execution. Operational performance improved markedly as EBITDA grew 80% to ₹59.19 crore and EBITDA margin widened by 600 basis points to 26%. Profit After Tax surged 91% year-on-year to ₹30.03 crore, with PAT margin rising to 13.3%, demonstrating strong leverage from scale and operational efficiencies.
With multi-domain, multidisciplinary engineering capabilities and robust manufacturing infrastructure, Apollo Micro Systems is positioned to design, develop and scale production of advanced electronic, electro-mechanical and engineering systems to meet the country's defence requirements. The combined actions of strengthening the capital structure, formalising strategic institutional partnerships, and delivering record financial performance reinforce Apollo's commitment to advancing indigenous defence technology and contributing to India's strategic self-reliance.
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