This small-cap defence stock surged 2,147% in 3 years: What makes it different?

Apollo Micro Systems started its defence sector rally in 2023 and has outperformed its PSU peers. The momentum has been fuelled by innovations moving into large-scale production and order inflow. But with the stock now trading at a 149x PE ratio, the question is: has it peaked or is this the first stage of its growth journey?

Sep 19, 2025 - 04:00
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This small-cap defence stock surged 2,147% in 3 years: What makes it different?
Apollo Micro Systems started its defence sector rally in 2023 and has outperformed its PSU peers. The momentum has been fuelled by innovations moving into large-scale production and order inflow. But with the stock now trading at a 149x PE ratio, the question is: has it peaked or is this the first stage of its growth journey?

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