Archive · 7 Sep 2026
Systematix Initiates Apollo Micro Systems Coverage With ₹570 Target
Systematix has started covering Apollo Micro Systems, an Indian defence company.
It gave the stock a Buy rating and set a target price of ₹570.
The report says Apollo could grow from making electronic parts to building complete weapon systems.
Apollo is hoping to win about ₹12,000 crore in orders during the next 24 months.
These possible orders would mainly involve mines, torpedoes and missiles.
The company works on defence programmes such as Pinaka, QRSAM and several torpedo systems.
A proposed defence policy called DAP 2026 could give private companies more opportunities.
However, the order target and expected share-price upside are projections, not guaranteed results.
Systematix initiated coverage of Apollo Micro Systems with a Buy rating and a ₹570 target versus a stated CMP of ₹403.90.
The brokerage bases its target on 55 times the average estimated FY28 and FY29 earnings per share.
Apollo aims to secure approximately ₹12,000 crore in orders over the next 24 months from mines, torpedoes and missiles.
Systematix expects Apollo could evolve from a subsystem supplier into an integrated weapon-systems manufacturer.
The stock has risen 3,455% in five years, while Apollo expands into UAVs, anti-tank mines and larger defence platforms.
- Who
- Systematix and Apollo Micro Systems are the main organisations involved.
- What
- Systematix initiated coverage of Apollo with a Buy rating and a ₹570 target, citing potential expansion into integrated weapon systems.
- When
- The report was published on September 7, 2026; Apollo's order target covers the following 24 months.
- Where
- The opportunity concerns India's domestic defence-manufacturing sector.
- Why
- Systematix expects defence indigenisation, technology transfers, private-sector access and Apollo's platform expansion to support future growth.
- Brokerage view
- Buy rating
- Target price
- ₹570
- Stated current market price
- ₹403.90
- Valuation basis
- 55 times the average estimated FY28 and FY29 earnings per share
- Order opportunity
- Approximately ₹12,000 crore over the next 24 months
- Main order areas
- Mines, torpedoes and missiles
- Five-year stock performance
- The stock has risen 3,455%
- Report date
- September 7, 2026
