Apollo Micro Systems Ltd. · NSE:APOLLO
Apollo Micro Systems — H1 FY26 Earnings Presentation
106 slides from Apollo Micro Systems's earnings presentation, Nov 4, 2025
Slide 1: Exchange filing cover letter for investor presentation
Date: 4th November, 2025 BSE Limited, National Stock Exchange of India Ltd., Department of Corporate Services Listing Department Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Mumbai – 400 001 Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Scrip Code: 540879 Symbol: APOLL
Slide 2: Earnings Presentation H1FY26 & Q2FY26
APOLLO MICRO SYSTEMS LTD We Commit, We Deliver FROM CONCEPT TO MASS PRODUCTION EARNINGS PRESENTATION- H1FY26 & Q2FY26 BSE: 540879 NSE: APOLLO 1
Slide 3: Safe Harbor
SAFE HARBOR This presentation and the accompanying slides (the “Presentation”), which have been prepared by Apollo Micro Systems Ltd (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation, directly or indirectly, in any manne
Slide 4: Inside the Presentation
INSIDE THE PRESENTATION • Then v/s Now: A Legacy of • Business Model Canvas • Update on Corporate Actions Innovation • Clientele • Opportunities Aligned • Quarterly Result Highlights • Certification • Ready to Serve the Country • Half Yearly Result Highlights • Manufacturing Capabilities • Strategy
Slide 5: Highlights
HIGHLIGHTS Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 4
Slide 6: Then v/s Now: A Legacy of Innovation
THEN V/S NOW: A LEGACY OF INNOVATION FROM SYSTEMS/SUBSYSTEMS TO COMPLETE WEAPONS And the Products are numerous from Sub-Systems to Complete Systems Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 5
Slide 7: Extending Our Streak of Strong Performance - Quarterly Result
EXTENDING OUR STREAK OF STRONG PERFORMANCE- QUARTERLY RESULT (All Figures in Millions) YoY QoQ Revenue from Operations EBITDA* EBITDA Margin INR 2253 INR 592 26.3% + 40% +69 % + 80% +45 % 600 bps -430 bps PAT PAT Margin Order Book INR 300 13.3% INR 7850 As on 30th Sep 2025 + 91% +70 % +350 bps + 10
Slide 8: Extending Our Streak of Strong Performance - Half Yearly Result
EXTENDING OUR STREAK OF STRONG PERFORMANCE- HALF YEARLY RESULT (All Figures in Millions) Semi annually Revenue from Operations EBITDA* EBITDA Margin INR 3588.5 INR 1001.3 28% +42 % + 81% + 600 bps PAT PAT Margin INR 477.1 13.3% + 97% + 330 bps * Excluding Other Income Investor Presentation November
Slide 9: Distinct. Determined. Ahead.
DISTINCT. DETERMINED. AHEAD. 01 The only company with Highest Participation in Indigenous Missile Programs of DRDO 02 The only company in India with a proven track record of supplying from an individual systems to complete platforms, including explosives 02 03 The only company in India working for w
Slide 10: Legacy of Trust, Vision for Atmanirbhar Bharat
LEGACY OF TRUST, VISION FOR ATMANIRBHAR BHARAT EBITDA (ex Other Income) 29% 35% CAGR 2021-2025 PAT CAGR Revenue 53% 2021-2025 CAGR 2021-2025 21% EBITDA Margin (ex Other Income) 2021-2025 D/E Average 5 years 0.3 2021-2025 Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 9
Slide 11: The Big Picture - Indigenization
THE BIG PICTURE- INDIGINIZATION We Indigenize- Systems/ Subsystems/ Weapons. India Builds Its Own Future. RFP Type to name some Presence in all Make 1 Program 150+ Missiles Programs Indigenous Make 2 Program Program IDMM Presence in all 700+ Participation Buy Indian NAVAL Warfare On board Buy and Ma
Slide 12: The Road We Have Walked
THE ROAD WE HAVE WALKED 84% 26% 84% Successfully configured First Indigenous Pay-Load Indigenous Automatic Started Offering Incorporated AMS Checkout System is supplied Launched Telemetry Launcher Controller for Indigenous Proprietary Company to ISRO replacing Legacy Products for ISRO AGNI Range of
Slide 13: Our Vision and Mission
OUR VISION AND MISSION VISION MISSION To emerge as a world-class company Convert your and a unique solution provider with Concepts into Reality Total Solutions Under One Roof Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 12
Slide 14: Business Overview
BUSINESS OVERVIEW Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 13
Slide 15: We Make Defence Weapons
WE MAKE DEFENCE WEAPONS • Apollo Micro Systems Limited (AMS), established in 1985 and headquartered in Hyderabad, is a leading technology provider of high- performance, mission-critical solutions for the defence sector. Building on 40 years of technological excellence we are poised to evolve into a
Slide 16: Where We Are - From Subsystems/Systems to Complete Weapons (1/8)
WHERE WE ARE- FROM SUBSYSTEMS/ SYSTEMS TO COMPLETE WEAPONS (1/8) The existing portfolio includes complete weapon systems that have either achieved qualification or are in advanced stages of the qualification process Underwater Mines Underwater Moored Mines Anti Submarine warfare Rockets Medium Range
Slide 17: Where We Are - Weapons (2/8) MIGM
WHERE WE ARE- FROM SUBSYSTEMS/ SYSTEMS TO COMPLETE WEAPONS (2/8) MIGM • A mine is a terrible thing that waits.” It waits and waits till it destroys/damages a naval vessel or is destroyed by the naval mine hunters. • Naval mines are an invisible enemy which allows any maritime nation to defend itself
Slide 18: Where We Are - Weapons (3/8) Moored Mine
WHERE WE ARE- FROM SUBSYSTEMS/ SYSTEMS TO COMPLETE WEAPONS (3/8) MOORED MINE • The moored mine is deployed where water is too deep for bottom mines and normally uses a combination of acoustic, magnetic and pressure sensors or even more sophisticated optical shadows or electro potential sensors. • Th
Slide 19: Where We Are - Weapons (4/8) Limpet Mine
WHERE WE ARE- FROM SUBSYSTEMS/ SYSTEMS TO COMPLETE WEAPONS (4/8) LIMPET MINE • These mines are manually attached to the target by magnets • These man-portable and multiple variations are developed for different missions These weapons systems have been indigenously developed and produced entirely in-
Slide 20: Where We Are - Weapons (5/8) Anti Submarine Warfare Rockets
WHERE WE ARE- FROM SUBSYSTEMS/ SYSTEMS TO COMPLETE WEAPONS (5/8) ANTI SUBMARINE WARFARE ROCKETS(ASW) • ASW is fully developed In-House. It is a Ship to Submarine Launched Rocket These weapons systems have been indigenously developed and produced entirely in-house. Investor Presentation November 2025
Slide 21: Where We Are - Weapons (6/8) Medium Range Aerial Rockets
WHERE WE ARE- FROM SUBSYSTEMS/ SYSTEMS TO COMPLETE WEAPONS (6/8) MEDIUM RANGE AERIAL ROCKETS • Ground to Air Launch Developed for attacking Drones/ Swarm of Drones These weapons systems have been indigenously developed and produced entirely in-house. Investor Presentation November 2025 | APOLLO MICR
Slide 22: Where We Are - Weapons (7/8) Aerial Bombs
WHERE WE ARE- FROM SUBSYSTEMS/ SYSTEMS TO COMPLETE WEAPONS (7/8) Aerial Bombs AERIAL BOMBS • Nine Variants of Aerial Drop Bombs developed for dropping from aerial platforms like drones These weapons systems have been indigenously developed and produced entirely in-house. Investor Presentation Novemb
Slide 23: Fortifying Our Product Profile in Munitions Systems (8/8)
FORTIFYING OUR PRODUCT PROFILE IN MUNITIONS SYSTEMS (8/8) Awarded Transfer of Technology (TOT) by the Defence Research and Development Organization (DRDO) in Explosive Warheads for Ulpgm- V2 (UAV Launched Precision Safety Arming Guided Missile V2) Mechanisms Exploder Mechanism for Naval Warheads Pra
Slide 24: Application of Products and Services Offerings (1/2)
APPLICATION OF PRODUCTS AND SERVICES OFFERINGS (1/2) GROUND DEFENCE AVIONICS Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 23
Slide 25: Application of Products and Services Offerings (2/2)
APPLICATION OF PRODUCTS AND SERVICES OFFERINGS (2/2) Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 24
Slide 26: Business Model Canvas
BUSINESS MODEL CANVAS Key Activities Key Resource Cost Structure We focus on the design and A standardized definition R&D and Testing costs vary based development of defence is not applicable, as each on product mix & is substantial systems/subsytems/weapons/ product is customized to Semiconductors
Slide 27: Our Marquee Clientele (1/2)
OUR MARQUEE CLIENTELE (1/2) We largely caters to / collaborates with the Ministry of Defence, Government controlled Public Sector Undertakings and Private Companies. Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 26
Slide 28: Our Marquee Clientele (2/2)
OUR MARQUEE CLIENTELE (2/2) We largely caters to / collaborates with the Ministry of Defence, Government controlled Public Sector Undertakings and Private Companies. and many more Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 27
Slide 29: Certifications
CERTIFICATIONS We are an AS 9100D & CEMILAC (Centre for Military Airworthiness & Certification) certified Organization. CEMILAC CERTIFIED Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 28
Slide 30: Greenfield and Brownfield Expansion - Scaling Operations
GREENFIELD AND BROWNFIELD EXPANSION- SCALING OPERATIONS TO 3X CAPACITY 5 5 , 0 0 0 s q f t , H yd e r a b a d 3 , 5 0 , 0 0 0 s q f t , H yd e r a b a d , • Our manufacturing units are located in Hyderabad and IDA Mallapur, Unit-I Hardware Park-II, Unit- III Rourkela (Odhisha) with its lab area conf
Slide 31: Our Dedicated R&D - Driven by Innovation and Indigenization
OUR DEDICATED R&D- DRIVEN BY INNOVATION AND INDIGENIZATION DNA In FY25, our rigorous efforts in Research and Development culminated in the successful development of Aerial Bombs, Underwater Acoustic Sensors, Critical Actuation Systems, Secured Data links and many other products. We are currently wor
Slide 32: Indigenization and Modernization - Our Participation: Missiles
INDIGENIZATION AND MODERNIZATION OF DEFENCE ECOSYSTEM- OUR PARTICIPATION MODE MISSILES INDIGENIZED Air to Surface RUDRAM Missile (ASM) Surface to Air VLSRAM (ASTRA VARIANT), Missile (SAM) AKASH/ NGRAM,QRSAM,SANT Anti Radiation RUDRAM, STAR, NGRAM Missile NAG, AMOGHA 2, HELINA, Anti Tank IMPATGM Miss
Slide 33: Our Participation: Naval Programs
INDIGENIZATION AND MODERNISATION OF DEFENCE ECOSYSTEM – OUR PARTICIPATION TYPE PROGRAMS INDIGENIZED NUCLEAR SUBMARINE Arihant Aridhaman NAVAL PROGRAMS TORPEDO TAL Varunastra ALWT SUBMARINE EHWT LAUNCHED TORPEDO UNDERWATER MIGM MINE Moored Mines EXPANDABLE MAREECH DECOYS MOHINI Investor Presentation
Slide 34: Our Participation: Artillery
INDIGENIZATION AND MODERNIZATION OF DEFENCE ECOSYSTEM - OUR PARTICIPATION PROGRAMS INDIGENIZED TARA BOMBS GARUTHMA GARUDA LRGB PINAKA ARTILLERY GUIDED PINAKA ATAGS Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 33
Slide 35: Our Participation: Others
INDIGIZATION AND MODERNIZATION OF DEFENCE ECOSYSTEM - OUR PARTICIPATION PROGRAMS INDIGINIZED RUSTOM UAV VSHORAD AIR DEFENCE SYSTEM OTHERS HYPERSONIC TECHNOLOGY DEMONSTRATOR VEHICLE Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 34
Slide 36: Missile Programs
MISSILE PROGRAMS Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 35
Slide 37: Nuclear, Ballistic and Anti-Submarine Missiles
AIR TO SURFACE MISSILE NUCLEAR MISSILE ANTI SUBMARINE MISSILE AGNI SMART BALLISTIC MISSILE K4 PRALAY Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 36
Slide 38: Cruise and Anti-Ship Missiles
CRUISE MISSILE ANTI SHIP MISSILE NIRBHAY NASM SLCM LRAHSM Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 37
Slide 39: Surface to Air Missiles
SURFACE TO AIR MISSILE AKASH VLSRAM NGRAM QRSAM SANT Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 38
Slide 40: Anti Radiation Missile
ANTI RADIAITION MISSILE STAR NGRAM Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 39
Slide 41: Anti Tank Missile
ANTI TANK MISSILE AMOGHA 2 HELINA NAG MPATGM Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 40
Slide 42: Naval Programs
NAVAL PROGRAMS 41 Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED
Slide 43: Nuclear Submarine and Underwater Mines
NUCLEAR SUBMARINE UNDER WATER MINES ARIHANT MIGM NAG MOORED MINE Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 42
Slide 44: Torpedoes
TORPEDOES TAL ALWT VARUNASTRA Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 43
Slide 45: Expendable Decoys and Submarine Launched Torpedoes
EXPENDABLE DECOYS SUBAMRINE LAUNCHED TORPEDOES EHWT MAREECH MOHINI C303 Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 44
Slide 46: Others
OTHERS 45 mInvestor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED
Slide 47: Hypersonic Demonstrator, Rustom UAV, VSHORAD
OTHERS HYPERSONIC TECHNOLOGY DEMONSTRATOR VEHICLE RUSTOM UAV VSHORAD AIR DEFENCE SYSTEM Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 46
Slide 48: Arms and Ammo
ARMS AND AMMO Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 47
Slide 49: Bombs: LRGB, TARA
BOMBS LRGB TARA Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 48
Slide 50: Artillery: ATAGS, Pinaka
ARTILLERY ATAGS PINAKA GUIDED PINAKA Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 49
Slide 51: Business Environment
INDIA- YEAR OF REFORMS BUSINESS ENVIRONMENT 50 Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED
Slide 52: Nations Are Gearing Up (1/4)
NATIONS ARE GEARING UP (1/4) • Global military expenditure increased to $2718 billion in 2024, the 10th year of consecutive rises. The world’s 15 largest spenders in 2024 all increased their military expenditure. The global military burden—the share of global gross domestic product (GDP) devoted to
Slide 53: Nations Are Gearing Up (2/4)
NATIONS ARE GEARING UP (2/4) • Military expenditure in the Middle East reached an estimated $243 billion in 2024, an increase of 15% from 2023 and 19% more than in 2015 • China continues military build-ups China, the world’s second largest military spender, increased its military expenditure by 7.0%
Slide 54: Nations Are Gearing Up (3/4)
NATIONS ARE GEARING UP (3/4) • A build-up of missile arsenals in Europe There is a growing demand for missiles in Europe to replace those supplied to Ukraine as well as to expand stockpiles in line with the prevailing threat environment and to address perceived gaps in capabilities through the devel
Slide 55: Nations Are Gearing Up (4/4)
NATIONS ARE GEARING UP (4/4) Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 54
Slide 56: Markets with Macro Tailwinds (1/10)
MARKETS WITH MACRO TAILWINDS PROVIDE CONSIDERABLE GROWTH OPPORTUNITIES (1/10) Story in Charts Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 55
Slide 57: Markets with Macro Tailwinds (2/10)
MARKETS WITH MACRO TAILWINDS PROVIDE CONSIDERABLE GROWTH OPPORTUNITIES (2/10) All Figures in INR Crores Story in Charts Capital Acquisition Outlay Capital Outlay as a % of Defence Budget 2.51x 200,000 55% 180,001 180,000 Total on Capital Outlay BE YoY 50% 159,501 29% 160,000 154,256 29% 142,939 137,
Slide 58: Markets with Macro Tailwinds (3/10)
MARKETS WITH MACRO TAILWINDS PROVIDE CONSIDERABLE GROWTH OPPORTUNITIES (3/10) All Figures in INR Crores Story in Charts Composition of Capital Acquisition Outlay Breakup of Total Capital Acquisition Outlay 100% Domestic Capital Procurement RE Foreign Capital Procurement RE 90% 89% 80% Others 70% Lan
Slide 59: Markets with Macro Tailwinds (4/10)
MARKETS WITH MACRO TAILWINDS PROVIDE CONSIDERABLE GROWTH OPPORTUNITIES (4/10) Story in Charts % Defence Service Estimates on Navy capital outlay Breakup of Total Capital Outlay in Modernization % Defence Service Estimates on airforce capital outlay % Domestic Contribution % Foreign Contribution % De
Slide 60: Markets with Macro Tailwinds (5/10)
MARKETS WITH MACRO TAILWINDS PROVIDE CONSIDERABLE GROWTH OPPORTUNITIES (5/10) Story in Charts Composition of Defence Production Composition of Export Production Pvt Cos SCOMET Issued by DGFT Contract Value and Another Export by DPSU DPSUs Contri in Total Defence Production Other PSUs/JV Contri in To
Slide 61: Markets with Macro Tailwinds (6/10)
MARKETS WITH MACRO TAILWINDS PROVIDE CONSIDERABLE GROWTH OPPORTUNITIES (6/10) Story in Charts Composition of Capital Acquisition Outlay among Services* FY24 FY25 FY26 Army Army 19% Army, 17% 23% Air Force Air Force, 39% Air Force 41% 39% Navy, 43% Navy Navy 36% 41% Joint Staff Joint Staff 0% 1% *exc
Slide 62: Markets with Macro Tailwinds (7/10)
MARKETS WITH MACRO TAILWINDS PROVIDE CONSIDERABLE GROWTH OPPORTUNITIES (7/10) India In pursuance of Prime Minister Shri Narendra Modi-led Government’s vision of ‘Viksit Bharat @ 2047’ with technologically-advanced and ‘Aatmanirbhar’ Armed Forces, Union Budget of India has made a provision of Rs 6,81
Slide 63: Markets with Macro Tailwinds (8/10)
MARKETS WITH MACRO TAILWINDS PROVIDE CONSIDERABLE GROWTH OPPORTUNITIES (8/10) Triggers • In recent years, the global geopolitical landscape has witnessed multiple instances of armed conflict and rising tensions, including but not limited to the Russia–Ukraine war, Armenia–Azerbaijan conflict, China–
Slide 64: Markets with Macro Tailwinds (9/10)
MARKETS WITH MACRO TAILWINDS PROVIDE CONSIDERABLE GROWTH OPPORTUNITIES (9/10) Strategic Response: • The Ministry of Defence has decided to observe 2025 as the ‘Year of Reforms’. According to the Ministry, this would aim to transform the armed forces into a technologically advanced and combat-ready f
Slide 65: Markets with Macro Tailwinds (10/10)
MARKETS WITH MACRO TAILWINDS PROVIDE CONSIDERABLE GROWTH OPPORTUNITIES (10/10) Enhanced Foreign Direct Investment (FDI) Limits: FDI in the defence sector has been liberalized—up to 74% is permitted under the automatic route, and up to 100% under the government route. Establishment of Defence Corrido
Slide 66: Markets with Macro Tailwinds - Explosives (1/2)
MARKETS WITH MACRO TAILWINDS PROVIDE CONSIDERABLE GROWTH OPPORTUNITIES (1/2) The explosive market size is expected to see strong growth in the next few years. It will grow to $9.37 billion in 2029 at a compound annual growth rate (CAGR) of 8.8%. The surge in government spending on the defense sector
Slide 67: Markets with Macro Tailwinds - Explosives (2/2)
MARKETS WITH MACRO TAILWINDS PROVIDE CONSIDERABLE GROWTH OPPORTUNITIES (2/2) • A surge in global demand for explosives and ammunition, fed by ongoing conflicts in Europe and West Asia, has resulted in record Indian defence exports, with the figure crossing ₹23,622 crore in 2024-25. • State-owned def
Slide 68: Inorganic Growth
INORGANIC GROWTH Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 67
Slide 69: Recent Strategic Acquisition - Unlocking Value (1/2)
RECENT STRATEGIC ACQUISITION- UNLOCKING VALUE (1/2) Apollo Defence Industries Pvt Ltd (ADIPL), a subsidiary of Apollo Micro Systems Ltd, has entered into a Share GOCL Corporation Limited (GOCL), formerly Gulf Oil Corporation The acquired entity possesses a substantial land bank Purchase Agreement to
Slide 70: Turning Near Term Challenges into Opportunities (2/2)
TURNING NEAR TERM CHALLENGES INTO OPPORTUNITIES (2/2) While the near term presented headwinds — including volatility in gross margins, a temporary ban by our highest revenue- contributing customer, and underutilized capacity — each of these challenges is being actively transformed into a driver of f
Slide 71: Our Circle of Competence
OUR CIRCLE OF COMPETENCE 70 Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED
Slide 72: Our Strategic Attributes (1/4)
OUR STRATEGIC ATTRIBUTES (1/4) We design and manufacture systems, subsystems and weapons using in-house engineering from initial concept The only Indian company with a through production. No reverse engineering of demonstrated, proven track third-party products is performed or relied upon. All recor
Slide 73: Our Strategic Attributes (2/4)
OUR STRATEGIC ATTRIBUTES (2/4) R&D as a % of revenue in FY25 stood at 6% Growing Organically and Inorganically Advancing from a Tier 2/3 to Tier 1 supplier Diversification of sectors, clients, geographies and Solutions offerings Participation in complex Tenders Presence in niche sectors with product
Slide 74: Our Strategic Attributes (3/4)
OUR STRATEGIC ATTRIBUTES (3/4) Backward and forward integration enabled through High Entry Barrier greenfield and brownfield expansions, along with a recent acquisition Entering production unlocks economies of scale Significant Order Book Pipeline First Company to contribute to Indian Weapon Systems
Slide 75: Our Strategic Attributes (4/4)
OUR STRATEGIC ATTRIBUTES (4/4) Only publicly listed Tier-1 Hold a strategic advantage in the naval domain, electronics designer with varied with a strong presence across all indigenously technological spectrum of Weapon developed Torpedo programs electronics for missile systems Exclusively developed
Slide 76: Significant Entry Barrier Explained
SIGNIFICANT ENTRY BARRIER EXPLAINED We have ownership of Intellectual Property for all weapons/ systems/ subsytems. Long Substantial upfront Capex and Strategic location in India’s defence Production cycle creates monopoly due to regular capital infusion in R&D . belt Hyderabad. New entrants face co
Slide 77: Drivers, Financial Resilience, Reinforcing Momentum (1/2)
DRIVERS, FINANCIAL RESILIENCE, REINFORCING MOMENTUM (1/2) Exports gaining Momentum. demonstrated growth in both topline and bottom line, with Atmanirbhar Bharat- Making 01 02 03 04 bottom line growth (53%) outpacing Defence sector sustainable. that of the topline (29%). Expansion in margins Operatin
Slide 78: Drivers, Financial Resilience, Reinforcing Momentum (2/2)
DRIVERS, FINANCIAL RESILIENCE, REINFORCING MOMENTUM (2/2) CFO in FY25 stood at INR 11.27 crores Technical Expertise Long Term Borrowings stood at INR evidenced through Moored Mines, 05 06 07 08 70 crores in FY25 MIGM, Rockets, Limpet Mines and many more Working Capital Cycle days reduced from 600 da
Slide 79: Catalyst
CATALYST Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 78
Slide 80: India's Time Is Now
INDIA’S TIME IS NOW Reliance on INDIGENISTAION for NATIONAL SECURITY Export Opportunity. WORLD Dynamic is CHANGING. Platform with long life creates Alliances Are Pivotal in Shaping aftermarket opportunity. Defense Spending. Military Modernization programs. DEMAND Outpacing SUPPLY Investor Presentati
Slide 81: Driving Mutual Growth
DRIVING MUTUAL GROWTH 80 Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED
Slide 82: Public Sector Partnerships: Driving Mutual Growth
PUBLIC SECTOR PARTNERSHIPS: DRIVING MUTUAL GROWTH Signed MoU with Munitions India Ltd for identified select opportunities • Approved Collaborative R&D Partner for Bharat Electronics Limited Signed MoU with TCL for defense products • Participation in 60+ programmes of DcPP as sub-system partner • As
Slide 83: Financial Performance
FINANCIAL PERFORMANCE Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED 82
Slide 84: Delivering on Every Promise - FY25
DELIVERING ON EVERY PROMISE- FY25 Topline Growth of 45%-50% Achieved Topline Growth of 51% Achieved EBITDA Margin* 24% EBITDA Margin* 22%-23% * Includes Other Income 83 Investor Presentation November 2025 | APOLLO MICRO SYSTEMS LIMITED
Slide 85: Financial Highlights - Q2FY26
FINANCIAL HIGHLIGHTS- Q2FY26 (CONSOLIDATED FIGURES) (All Figures in Millions) 1.4x 1.8x 591.9 2252.6 EBITDA (ex Other Income) PAT Revenue from Operations 1607.1 409.4 1335.8 328.9 300.3 176.8 157.3 Q2FY25 Q1FY26 Q2FY26 EBITDA Margin PAT Margin Q2FY25 Q1FY26 Q2FY26 31% 26% 20% 13.2% 13.3% 10% Deliver
Slide 86: Financial Highlights - H1FY26
FINANCIAL HIGHLIGHTS- H1FY26 (CONSOLIDATED FIGURES) (All Figures in Millions) 1.42x 1.81x 3588.5 1001.3 13% EBITDA PAT 2519.1 10% 27.9% 552.7 21.9% 477.1 241.6 H1FY25 H1FY26 H1FY25 H1FY26 H1FY25 H1FY26 Revenue from Operations EBITDA Margin Pat Margin 0.5 13% 10% 0.3 Delivering Strong Performance wit
Slide 87: Financial Highlights - Historical
FINANCIAL HIGHLIGHTS- HISTORICAL (CONSOLIDATED FIGURES) (All Figures in Millions) 2.28x 6000.0 5620.7 2.65x 1400.0 1292.1 5000.0 Revenue from Operations 1200.0 EBITDA (ex Other Income) PAT 4000.0 3716.3 1000.0 838.7 2975.3 800.0 3000.0 2459.0 2431.9 640.9 2030.7 600.0 563.6 486.7 455.2 2000.0 385.3
Slide 88: Financial Highlights - Historical (R&D, Working Capital)
FINANCIAL HIGHLIGHTS- HISTORICAL (All Figures in Millions, otherwise stated) 2.5x Working Capital Cycle Days 661 R&D 335.2 579 600 297.9 543 266.1 507 445 134.1 147.5 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 Interest Coverage Ratio Inventory Days Receivable Days Payable Days 3.3 189 25
Slide 89: Consolidated Income Statement - H1FY26 & Q2FY26
CONSOLIDATED INCOME STATEMENT- HI1FY26 & Q2FY26 Particulars (Rs in Mn) Q2FY26 Q1FY26 QoQ Q2FY25 YoY H1FY26 H1FY25 YoY Revenue from Operations 2252.6 1335.8 69% 1607.1 40% 3588.5 2519.1 42% Other Income 13.0 8.7 5.9 21.7 11.8 Total Revenue 2265.7 1344.6 69% 1613.0 40% 3610.2 2530.9 43% Total Expenses
Slide 90: Consolidated Balance Sheet Statement - H1FY26
CONSOLIDATED BALANCE SHEET STATEMENT- H1FY26 Key Balance Sheet Items in Rs Mn As on 31st March 2025 As on 30th Sep 2025 Equity Share Capital 306 336 Reserves 5769 10447 Long Term Borrowings 698 1262 Short Term Borrowings 2610 2309 Trade Payables 2799 2548 Total 12995 17819 Net Block 1723 1956 CWIP 7
Slide 91: Consolidated Cash Flow Statement - H1FY26
CONSOLIDATED CASH FLOW STATEMENT- H1FY26 Particulars (Rs in Mn) As on 31st March 2025 As on 30th Sep 2025 Cash Flow From Operating Activities 102 -1896 Cash Flow From Investing Activities -913 -2565 Cash Flow From Financing Activities 1211 4240 Net Change in Cash and Cash Equivalents 401 -221 Delive
Slide 92: Consolidated Income Statement - Historical
CONSOLIDATED INCOME STATEMENT - HISTORICAL Particulars (Rs in Mn) FY20 FY21 FY22 FY23 FY24 FY25 Revenue from Operations 2459.0 2030.7 2431.9 2975.3 3716.3 5620.7 Other Income 16.0 6.4 7.6 8.2 18.3 28.9 Total Revenue 2475.0 2037.1 2439.5 2983.5 3734.6 5649.5 Total Expenses except Depreciation, Amorti
Slide 93: Consolidated Balance Sheet - Historical
CONSOLIDATED BALANCE STATEMENT - HISTORICAL Key Balance Sheet Items (Rs in Mn) FY20 FY21 FY22 FY23 FY24 FY25 Equity Share Capital 207.6 207.6 207.6 207.6 282.4 306.5 Reserves 2751.6 2851.7 2992.7 3634.4 4909.8 5769.2 Borrowings 132.0 162.2 1157.8 1436.5 2080.4 3353.5 Other Liabilities 990.7 1313.2 3
Slide 94: Consolidated Cashflow Statement - Historical
CONSOLIDATED CASHFLOW STATEMENT - HISTORICAL Particulars (Rs in Mn) FY20 FY21 FY22 FY23 FY24 FY25 Cash Flow From Operating Activities 469.1 73.8 431.8 -162.9 -784.9 112.7 Cash Flow From Investing Activities -186.9 -238.6 -243.0 -347.6 -587.9 -952.4 Cash Flow From Financing Activities -360.3 165.1 -1
Slide 95: Update on Corporate Actions
UPDATE ON CORPORATE ACTIONS CAPEX WORKING CAPITAL CYCLE • Unit 3 will be developed in phases. Civil work has • Working capital cycle days are expected to started in Phase 2. reduce by approximately 100–120 days from • Production will start in stages. First stage FY27 onwards, as several programs com
Slide 96: Opportunities Aligned and Ready
OPPORTUNITIES ALIGNED AND READY: HERE’S WHY WE’RE POSITIONED TO WIN There is a critical need to advance the development of Anti-Submarine Warfare (ASW) rockets to effectively counter emerging and increasingly 1 sophisticated underwater threats. Presently, IN holds a large number of torpedoes The req
Slide 97: Ready to Serve the Country
READY TO SERVE THE COUNTRY We anticipate a sharp increase in AMS’s internal demand for explosives and propellants as several of our matured munition platforms will be entering large-scale production, including: 1. Underwater Mines 2. Anti-Submarine Warfare Rockets 3. Short- and Medium-Range Rockets
Slide 98: Strategy for Years Ahead
STRATEGY FOR YEARS AHEAD • We aim to strengthen our R&D foundation to drive innovation and develop cutting-edge technologies in defence and strategic electronics. An allocation of INR 100 Crores has been Strengthening core R&D earmarked for FY26. Pursue Large Ticket Size • Focus on pursuing large Va
Slide 99: Management Commentary
MANAGEMENT COMMENTARY Mr. Baddam Karunakar Reddy, Managing Director, Apollo Micro Systems Limited, said: “I’m pleased to share that Apollo Micro Systems has carried its exceptional momentum into FY26, delivering our strong Q2 performance — a testament of our strategic focus, operational excellence,
Slide 100: Share Holding Pattern
SHARE HOLDING PATTERN INSTITUTIONS NAMES • Morgan Stanley Asia Singapore PTE. ODI • Societe Generale- ODI • EAM Emerging Markets Small Cap Fund • Goldman Sachs Bank Europe SE- ODI • Citi Group Global Markets Mauritius Pvt Ltd 40% • BOFA Securities Europe SA • SPDR Portfolio Emerging Markets ETF 51%
Slide 101: Grateful for the Opportunity and Proud to Contribute
GREATFUL FOR THE OPPORTUNITY AND PROUD TO CONTRIBUTE (1/2) DRDO & Indian Navy conduct combat firing (with reduced explosive) of indigenous Multi-Influence Ground Mine. Other nations that have developed seabed mines similar to DRDO’s MIGM include the United States, Russia, China, and Italy. With this
Slide 102: Successful Response in the Aeroshow
SUCCESSFUL RESPONSE IN THE AEROSHOW Aero India is a premier event in the aerospace and defense industry, and our participation aligns with our strategic goals. It provides an excellent platform to showcase our products, engage with key stakeholders, and strengthen business partnerships . We have sig
Slide 103: Setting the Record Straight
SETTING THE RECORD STRAIGHT Dilution of Equity- All equity dilution to date has been strategic and prudent. The current preference round is intended to reinvest in the business, with a focus on leveraging growth opportunities in the defence sector. Quarterly Result Is Not The Correct Yardstick- In a
Slide 104: Skin in the Game / Leadership-Led with Long Term Commitment
SKIN IN THE GAME/ LEADERSHIP- LED WITH LONG TERM COMMITMENT Mr. Baddam Karunakar Reddy Mr. Addepalli Krishna Sai Kumar Mr. Chandrapati Venkata Siva Prasad (Managing Director) (Whole Time Director- Operations) (Whole Time Director- Technical) He founded Apollo Micro Systems in 1985 and He is an Engin
Slide 105: H1FY26 & Q2FY26 Earnings Call Invite
H1FY26 & Q2FY26 EARNINGS CALL INVITE Apollo Micro Systems Limited announced its results for the quarter and half year ended Sep 30th, 2025, on Nov 4th, 2025. Following the announcement, the management team will host a conference call for investors and analysts on Nov 5th , 2025, at 11:30 AM IST. The
Slide 106: Thank You
THANK YOU Email: investors.relations@apollo-micro.com +91 72888 92228 https://in.linkedin.com/company/apollo-microsystems-limited https://x.com/apollo_micro?t=ciDytB8PmvlekKn28EYOGQ&s=08 https://www.youtube.com/@apollomicrosystemslimited 105