Apollo Micro Systems Limited (APOLLO) Q1 Results FY27 Preview: Date, Time, Expectations & Key Things To Watch

Apollo Micro Systems enters its Q1 FY27 results following a year of record-breaking defence procurement and a significant expansion into energetic materials. Investors will be focused on whether the company's revenue run-rate is tracking towards its 45–50% growth guidance and how the recent acquisition of IDL Explosives is impacting consolidated margins.

Apollo Micro Systems Limited Q1 Results Date and Time

The board meeting is scheduled for 8 August 2026 to consider the Q1 FY27 financial results.

What to expect from Apollo Micro Systems Limited's Q1 FY27 results

Apollo Micro Systems is targeting a 45–50% revenue CAGR for FY27, implying a Q1 revenue target of approximately Rs. 194–200 Cr to remain on track with its long-term trajectory. Management has highlighted that the 36% standalone revenue growth in FY26 was impacted by an 8–9% variance due to customer approval delays, a timing issue they expect to normalize as projects move into production. The consolidated EBITDA margin will remain a key focal point, as the inclusion of IDL Explosives continues to exert downward pressure on profitability compared to the 31% peak seen in Q1 FY26. Furthermore, the company is managing a significant capex program with Unit-3 expansion underway, which resulted in a 45.6% YoY increase in depreciation costs during FY26. The upcoming call will likely address the integration timeline for the recently announced 41.33% stake acquisition in Premier Explosives and provide clarity on the progress of working capital reduction targets.

Key Things To Watch

Performance vs Guidance Tracking: Tracking progress against management's stated long-term targets.

• Revenue CAGR — 45%–50% target for FY27 — status pending Q1 revenue run-rate
• Working capital reduction — 100–120 days reduction from FY27 — cycle currently at 359 days
• R&D investment — 8% of revenue target — FY26 actual spend was Rs. 72 Cr against Rs. 100 Cr earmark

Strategic execution and M&A: Updates on recent inorganic expansion and subsidiary integration.

• Premier Explosives acquisition — 41.33% stake for Rs. 1,550 Cr — SPA signed 9 July 2026
• IDL Explosives integration — consolidated margin impact following FY26 PAT loss of Rs. 30.64 Cr
• Preferential issue — Rs. 3,322.23 Cr capital raise — intended for debt repayment and working capital

Operating metric trajectory: Trends in order book and operational efficiency.

• Order book — Rs. 1,432 Cr as of 31 March 2026 — execution split between FY27 and FY28
• Export revenue — Maiden order of $13.37 million — potential benefit from 11–12% rupee depreciation
• Receivables — Rs. 481.32 Cr as of 31 March 2026 — monitoring DSO levels

Risks and headwinds to monitor: Management-flagged operational and regulatory risks.

• Customer approval delays — caused 8–9% revenue variance in FY26 — recurring risk for government contracts
• Promoter pledge — working to clear step-by-step over next few quarters — no firm timeline committed
• Related Party Transaction resolution — corporate guarantees for subsidiaries — management to re-file in FY27