Technology

Incorporated in 1997, Apollo Micro Systems Limited (AMSL) is a Hyderabad based company engaged in the business of electronic, electro-mechanical, engineering designs, manufacturing and supply. Company designs, develops and sell high performance, mission and time critical solutions to Defense, Space and Home Land Security for Ministry of Defense, government controlled public sector undertakings and private sectors. AMSL’s manufacturing facility is located at Hyderabad.
Outlook & Valuation: In terms of valuations, the pre-issue P/E works out to 29x 1HFY2018 annualized earnings (at the upper end of the issue price band), which is lower compared to its peers like Astra Microwave (trading at 36.2x its 1HFY2018 annualized earnings). Further, AMSL has strong financial record and return ratios compared to Astra Microwave. Hence, considering the above positive factors, growth in the defence industry we recommend SUBSCRIBE on the issue.

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