Apollo Micro Systems Target Price: Experts Stay Bullish as the Defence Stock Hits Rs 465 and Nears a Record High, Q2 Profit Up 54% and Targets Spanning Rs 460 to Rs 570 on 13 November 2026

Last Rs 459.30, +4.36% (13 Nov, 2:12 PM). Near 52-week high Rs 466.50. Q2 profit Rs 46.15 cr (+54%). Targets Rs 460 to Rs 570. PE 124.79 vs industry 47.91.

Apollo Micro Systems target price views are in focus on 13 November 2026 as the multibagger defence stock rose about 4.36% to Rs 459.30 and touched Rs 465.50, just under its record. Experts remain positive on the company’s order pipeline, but the range of published targets is narrow at the bottom and the multiple is very high. Apollo Micro Systems shares are within reach of a record.

This article covers today’s move, the September quarter numbers, what analysts and management are saying, valuation, ownership and the risks to weigh. Univest does not give buy or sell calls, so it sets out a framework and not a verdict. Apollo Micro Systems stock gets a balanced view here.

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Apollo Micro Systems Shares Today: Key Numbers Near the Record High

Metric (2:12 PM IST, 13 Nov 2026)	Value on NSE
Last price	Rs 459.30, up 4.36%
Open, high and low	Rs 440.00, Rs 465.50 and Rs 435.05
Previous close	Rs 440.10
Volume	About 1.52 crore shares
52-week high and low	Rs 466.50 and Rs 179.50
Market capitalisation	About Rs 16,369 crore
PE, trailing earnings	124.79, against industry PE of 47.91
Price to book value and return on equity	10.77 times and 9.13%

The stock opened about 0.9% above the previous close and then ran higher through the day, which shows buying interest. At the high of Rs 465.50 it was within 0.2% of the 52-week high, our own calculation, so a clean break above Rs 466.50 would be a new record. Apollo Micro Systems shares then held the gains. The Apollo Micro Systems share price also drew heavy volume.

Q2 FY27 Results: Revenue and Profit Both Step Up

Metric	Sept 2025	June 2026	Sept 2026
Total income	Rs 226.56 crore	Rs 253.54 crore	Rs 391.69 crore
EBITDA	Rs 60.49 crore	Rs 55.98 crore	Rs 114.71 crore
Net profit	Rs 30.03 crore	Rs 25.22 crore	Rs 46.15 crore
EBITDA margin	26.85%	22.28%	29.55%
Net margin	13.81%	10.71%	12.48%

Income grew about 73% from a year ago and about 54% from June, and EBITDA nearly doubled, our own calculations. The EBITDA margin of 29.55% is the best in the five quarters tracked. Net margin was lower than a year ago at 12.48%, which means higher costs below EBITDA absorbed part of the gain. Apollo Micro Systems shares reflect that step up.

For the full year FY26 the company reported revenue of Rs 910.60 crore and net profit of Rs 107.38 crore, against Rs 564.95 crore and Rs 56.42 crore in FY25. Half of the FY26 profit has therefore already been matched by two quarters of FY27, our own comparison. Apollo Micro Systems stock is growing from a relatively small base.

What Experts and Management Are Saying

Source	View	Level
Systematix, September 2026	Buy, expects about Rs 12,000 crore of orders	Target Rs 570
Data provider average, late October	12-month consensus	Rs 510
Data provider low estimate	Most cautious view	Rs 460
Earnings call summary	Torpedo order in Nov 2026, Pinaka before Dec 2026, MIGM by Feb 2027	Expectations, not contracts

The average target is about 11% above the latest price and the high target about 24%, our own calculations. The low target of Rs 460 is almost at the current level, which means at least one analyst sees little upside from here. The Apollo Micro Systems target range is narrow at the lower end, and the Apollo Micro target of Rs 570 needs orders to arrive.

Management also expects a new manufacturing unit to be operational by March. Each of these catalysts depends on government order timing, which is the least predictable part of a defence story. Apollo Micro Systems shares depend on these catalysts arriving.

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Apollo Micro Systems Target Price Check: Valuation and Ownership

Measure	Figure
Trailing earnings per share	Rs 3.53
Book value per share	Rs 40.88
Debt to equity	0.44
Dividend yield	0.05%
Promoter holding, Sept 2026	49.98%
Foreign institutions, June and Sept 2026	7.59% and 5.95%
Domestic institutions, Sept 2026	1.49%

A multiple of about 125 against an industry multiple near 48 means the market already pays for several years of growth. Return on equity of 9.13% is low next to that price, so the case rests on future orders and not on current returns. The Apollo Micro Systems share price already assumes years of growth.

Foreign institutions trimmed their stake from 7.59% to 5.95% in the September quarter even as the price rose, while promoters held steady after a two-point fall in the June quarter. One data source also shows about 35.6% of the promoter holding pledged. Apollo Micro Systems stock saw foreign funds reduce exposure.

Risks Behind the Rally

Order timing is the first risk. Defence contracts are announced on government schedules, and a delay of a quarter can leave a stock priced for growth without a trigger. Apollo Micro Systems shares can stall on a delayed order.

The second is cash conversion. Receivables of about 194 days, per one data source, tie up working capital and explain why debt to equity is 0.44 even with strong profit. The Apollo Micro Systems stock balance sheet shows that strain.

The third is price. The stock is up about 156% from its 52-week low, our own calculation, and beta near 1.66 means it tends to swing more than the market. Profit booking after a record is common. Apollo Micro Systems shares have also run up sharply. The Apollo Micro Systems stock and Apollo Micro Systems shares can both reverse quickly.

What to watch	Why it matters
Torpedo and Pinaka order announcements	Main near-term triggers named by management
Receivable days in the next results	Shows cash conversion
Promoter pledge and holding changes	Signals promoter confidence and financing stress
Nifty 50 trend	A weak market can hit small-cap defence stocks hard
Break above Rs 466.50	Would mark a fresh record high

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Conclusion

The September quarter justified much of the optimism, with income up about 73% and EBITDA nearly doubling. Targets between Rs 460 and Rs 570 show that the upside, if any, depends on orders arriving on time. A multiple near 125 times earnings, pledged promoter shares and high receivables are the counterweights. Decide on position size and a review date before acting. The Apollo Micro Systems target range should be read with that in mind.

Frequently Asked Questions

Why is the Apollo Micro Systems stock rising today?

Ans. The stock was up about 4.36% at Rs 459.30 on the NSE at 2:12 PM on 13 November 2026 and touched Rs 465.50 during the day, close to its 52-week high of Rs 466.50. The rally follows strong September quarter results, with revenue up about 73% and profit up about 54% from a year earlier, and expectations of large defence orders over the next few months.

What are the analyst targets for Apollo Micro Systems?

Ans. One data provider shows an average 12-month target of Rs 510, with a high of Rs 570 and a low of Rs 460, as of late October. Systematix initiated coverage in September with a Buy rating and a target of Rs 570. The average is about 11% above the latest price, and the low target is almost at the current price, both our own calculations.

How did Apollo Micro Systems perform in Q2 FY27?

Ans. Total income rose to Rs 391.69 crore from Rs 226.56 crore a year earlier, EBITDA rose to Rs 114.71 crore from Rs 60.49 crore, and net profit rose to Rs 46.15 crore from Rs 30.03 crore. Compared with the June quarter, revenue was up about 54% and profit about 83%. These percentages are our own calculations from reported figures.

Which order catalysts are management pointing to?

Ans. According to a summary of the earnings call, management expects a heavyweight torpedo order in November 2026, Pinaka orders before December 2026 and a MIGM order by February 2027, with a new manufacturing unit operational by March. These are expectations and not signed contracts, so timing can slip.

Is the Apollo Micro Systems stock expensive?

Ans. At about Rs 459 the stock trades at roughly 125 times trailing earnings, against an industry multiple of about 48, and at 10.77 times book value. Return on equity is 9.13%. Such a multiple prices in years of strong growth, so any delay in orders or margins can hit the price hard.

What are the main risks for Apollo Micro Systems shares?

Ans. One data source shows promoters have pledged about 35.6% of their holding and that receivables are high at about 194 days. Debt to equity is 0.44, the stock is volatile with a one-year beta near 1.66, and promoter holding fell from 51.98% to 49.98% in the June quarter. Order timing and execution are the other key risks.

What has the stock done in the past year?

Ans. The stock is trading near Rs 459 against a 52-week low of Rs 179.50, a gain of about 156%, which is our own calculation. It surged about 12% after the Q2 results in late October, according to one report. Such a sharp run raises the chance of profit booking even when the business is growing.

Should I buy, sell or hold Apollo Micro Systems shares?

Ans. Univest does not give buy or sell calls. Compare the current price with the range of targets, weigh the very high valuation against the growth in revenue and profit, and decide how much of your portfolio one small-cap defence stock should be. Set a review date around the expected order announcements.