From Rs 4 to Rs 64 in 20 months: This multibagger stock sees profit booking after Q1 results

Shares of Apollo Micro Systems have delivered stellar returns of the investors in the last 20 months, since the covid-19. The stock saw some profit booking recently, after scaling new highs earlier this week, as the company announced its results for the quarter ended on June 30, 2023.

Apollo Micro Systems reported a 11 per cent rise on a year-on-year (YoY) in the net profit at Rs 1.81 crore for the quarter ended on June 30, 2023. The company had clocked a net profit at Rs 1.63 crore in the year-ago period. Its revenue from operations increased to Rs 58.06 crore from Rs 56.41 crore during the period under review.

Shares of Apollo Micro Systems scaled its 52-week high of Rs 63.58 on August 8. However, it has dropped to Rs 58 on Friday. The company commanded a total market capitalisation of close to Rs 1,300 crore.

Shares of Apollo Micro Systems have zoomed about 1,400 per cent from its covid-19 lows around Rs 4.3. The stock has soared more than 460 per cent from its 52-week low at Rs 11.31 in August 2022. The stock has rallied 85 per cent in the year 2023 so far, while it rose 65 per cent in the last six months.

Also read: Share market today: Nifty, Sensex fall; HCL Tech, Titan, Tata Steel top gainers; SBI Life, IndudInd Bank, Asian Paints top losers; check stocks that buzzed in trade on August 11, 2023

The director board of the company has recommended a final dividend of Rs 0.25 per equity share, or 25 per cent for the face value of Re 1 each for the financial year 2022-23. However, the dividend is subject to the approval of shareholders in the ensuing annual general meeting (AGM) of the company.

The company board has fixed September 22 as a record date to determine the eligibility of the shareholders for the dividend announced. The company board will host its annual general meeting on September 29, 2023, via video conferencing.

Earlier this year, shares of Apollo Micro Systems turned ex-split in May. The company sub-divided its equity shares in a 1:10 ratio. The stock with a face value of Rs 10 each was divided into 10 equity shares with a face value of Re 1 each.

Incorporated in 1997, Apollo Micro Systems is engaged in the business of electronic, electro-mechanical, engineering designs, manufacturing and supply. It made its Dalal Street debut in 2018.

The Hyderabad-based company designs, develops and sells high-performance, mission and time critical solutions to defense, space and homeland security for the Ministry of Defense, government-controlled public sector undertakings and private sectors.

Also read: Hot stocks on August 11, 2023: LIC, Pidilite, Suzlon Energy, Raymond, HCC and more

Also read: Raymond shares hit Rs 2,000 level after Q1 results. Here's what Gautam Singhania says