Apollo Micro Systems (APOLLO) Q3 25/26 earnings summary

Executive summary

• Record quarterly and 9M revenue; 9M consolidated revenue rose 53% YoY and PAT rose 67%.

• Completed the 100% acquisition of IDL Explosives for ₹10,700 lakh, expanding into explosives and supporting an integrated defence-supply-chain strategy.

• Core-business revenue CAGR guidance is 45–50% over the next three years, excluding acquisition contribution.

Financial highlights

• Q3 FY26 consolidated revenue was ₹25,222.01 lakh (+70% YoY), EBITDA excluding other income INR 503.9 Mn (+33%) and PAT ₹2,288.09 lakh (+25%).

• Q3 FY26 standalone revenue was ₹20,078.39 lakh (+35%), EBITDA excluding other income INR 533 Mn (+40%) and PAT ₹3,066.03 lakh (+66%).

• 9M FY26 consolidated revenue was ₹61,106.76 lakh (+53%), EBITDA excluding other income INR 1,505.2 Mn (+61%) and PAT ₹7,059.25 lakh (+67%).

• 9M FY26 standalone revenue was ₹55,963.14 lakh (+40%), EBITDA excluding other income INR 1,535 Mn (+65%) and PAT ₹8,313.15 lakh (+94%).

• Consolidated order book was INR 13,050 Mn as of Dec. 31, 2025.

Outlook and guidance

• 45–50% core revenue CAGR guidance over three years, supported by the order book and products entering production; acquisition contribution excluded.

• Management expects an additional acquisition by ADIPL to complete before FY26 end.

• INR 100 crore earmarked for FY26 R&D; priorities include complex, higher-value projects, exports and advancing toward a global OEM role.

• Greenfield facility planned to scale capacity to 12x for manufacture, assembly, integration and testing of weapon systems and munitions.