Apollo Micro Systems FY25: revenue up 51%, PAT 81%

Results snapshot: big year-on-year expansion

Apollo Micro Systems reported consolidated Q4 and FY25 performance highlighting strong year-on-year growth in both revenue and profit. In one consolidated summary shared in the provided text, the company reported revenue of ₹5,649.5 crore, up 51.6% year-on-year from ₹3,734.6 crore. The same summary put profit after tax (PAT) at ₹563.6 crore, up 80.8% from ₹311.1 crore.

Separately, the FY25 earnings commentary and multiple copies of the results note cited FY25 revenue at ₹562.07 crore, up 51.24% from ₹372 crore in FY24. In that set of figures, FY25 net profit was stated at ₹56 crore versus ₹31 crore in FY24, translating into an 81% year-on-year rise. The company described FY25 as its strongest performance to date.

Consolidated FY25 numbers mentioned in the release

The consolidated summary in the text also listed total income at ₹5,649.5 crore for FY25. It attributed EBITDA improvement to higher scale and operational efficiencies, without stating a single consolidated EBITDA number alongside that summary. The same section presented year-on-year comparison values for revenue and PAT, indicating a strong growth profile.

At the same time, a detailed FY25 commentary (attributed to the managing director in the provided text) gave specific operating profitability metrics: EBITDA of ₹132 crore, up 54% year-on-year, with an EBITDA margin of 23.50%. Net profit growth was stated at 81.18% for FY25, in line with the company’s annual guidance.

Q4 FY25 quarter performance: growth, but sequential pressure

For the quarter ended March 31, the text reported consolidated net profit rising 8% year-on-year to ₹13.96 crore, compared with ₹12.9 crore in the same quarter of the previous year. Operational revenue for the March quarter increased 19% to ₹161.77 crore versus ₹135.4 crore a year ago.

Sequentially, the company’s net profit was stated to have fallen 23%, while net sales rose 9% from Q3 FY25 to Q4 FY25. Profit before tax (PBT) for Q4 FY25 was reported at ₹22 crore, up 21% year-on-year, but down 16% quarter-on-quarter. EBITDA for the quarter, excluding other income, was reported at ₹35.99 crore, up 25% year-on-year and down 5% sequentially.

Margins: Q4 moderated from Q3, still above last year

The EBITDA margin for Q4 FY25 was reported at 22%. This was lower than the 26% recorded in Q3 FY25, but above the 21% reported for Q4 FY24. For the full year, EBITDA (excluding other income) increased by 54% to ₹129.21 crore, while the EBITDA margin was described as relatively stable at 23%.

For FY25, PBT was reported to have risen 87.23% year-on-year to ₹82.55 crore. These figures were presented alongside commentary that higher operating leverage and product mix were supporting margins, while planned capital investments could moderate margin expansion later.

Cash flow update: operating cash swing

As of March 31, 2025, Apollo Micro Systems reported consolidated net cash inflow from operating activities of ₹11.27 crore. This compared with a net cash outflow of ₹78.49 crore as of March 31, 2024, marking a sharp year-on-year improvement in operating cash movement as stated in the text.

Management commentary: order book execution and production transition

Managing Director Baddam Karunakar Reddy said FY25 was a landmark year and linked the performance to a robust order book, progress in strategic defence programmes, and the transition of multiple high-value products into the production phase. In a later quarterly update (Q2FY26 section provided), he again pointed to execution of the order book and the movement of high-value systems into production as drivers of growth.

The company also stated that recent geopolitical developments, particularly the India–Pakistan conflict, accelerated demand for indigenous defence solutions. It said several of its systems were tested and demonstrated during this period, generating interest across the defence value chain.

Q2 FY26 update in the text: growth and margin expansion

In the Q2FY26 update included in the provided material, revenue from operations was reported at ₹225.26 crore (₹2,252.6 million), compared with ₹160.71 crore (₹1,607.1 million) in Q2FY25, a 40% increase. EBITDA was reported at ₹59.19 crore (₹591.9 million) versus ₹32.89 crore (₹328.9 million), up 80%, with an EBITDA margin of 26.3%.

PBT was stated at ₹43.15 crore (₹431.5 million) versus ₹22.46 crore (₹224.6 million), up 92%. PAT for Q2FY26 was reported at ₹30.03 crore (₹300.3 million) versus ₹15.73 crore (₹157.3 million), up 91%. The same management commentary said the company expected revenue to grow at a CAGR of 45% to 50% over the next two years, driven by the core business and excluding contribution from a recent acquisition.

Corporate actions and business updates: order win, dividend, acquisition

The text reported that the company received an export order valued at around ₹113.81 crore for the development of an avionic system. It also stated that the board considered recommending a final dividend of 25% (₹0.25 per equity share of face value ₹1 each) for FY2024-25, subject to shareholder approval at the AGM.

The company also announced the acquisition of IDL Explosives Ltd, saying it would enhance manufacturing capabilities and broaden the solutions portfolio across critical parts of India’s defence supply chain.

Stock reaction: mixed moves across different dates cited

In one trading snapshot dated 15 May 2026, the stock was shown at ₹294.55, down ₹11.00 (3.60%). Another section stated the shares slipped over 10% in early deals after the company reported its highest-ever revenue and net profit for FY25, with the stock noted down 10.25% to ₹135.20 against a previous close of ₹150.65 on the BSE, and market capitalisation cited at ₹4,330 crore.

In a separate market update, the stock was reported trading 15% higher at ₹179.16 on the NSE, and later noted at ₹179 at close, up 14.88%, following the export order update.

Key numbers table (as stated in the provided text)

What investors will watch next

The company has linked growth to order book execution, production scale-up, and operating leverage, while also flagging that planned capital investments could affect the pace of margin expansion later in FY26 and into FY27. The Q2FY26 update also repeated the expectation of 45% to 50% revenue CAGR over the next two years, excluding the acquisition’s contribution.

Separately, the provided text listed an upcoming earnings date for Apollo Micro Systems Ltd as 18 May 2026. Any updates around dividend approval timelines, progress on the export order, and integration steps following the IDL Explosives acquisition are likely to remain in focus alongside quarterly margin movement.