Apollo Micro Systems shares gain on MoU for cybersecurity solutions, more details

Shares of Apollo Micro Systems rose over 2% in the afternoon session today after the defence firm announced it has inked a Memorandum of Understanding’s (MoU) with Sibersentinel Technologies Limited and Zoom Technologies (India) Private Limited. 

Apollo Micro Systems stock gained 2.35% to Rs 348 on Thursday against the previous close of Rs 340. Market cap of the firm rose to Rs 11,538 crore. 
 
"Apollo Micro Systems Limited has entered into a Memorandum of Understanding’s (MoU) with Sibersentinel Technologies Limited and Zoom Technologies (India) Private Limited. The purpose of this MoU is to jointly design, develop, and deploy advanced cybersecurity solutions tailored for Government Agencies, Statutory Bodies, Financial Institutions, and other critical infrastructure sectors," said the defence firm.  

The MoU aims to combine Apollo’s domain expertise in defence-grade electronic systems with Sibersentinel’s and Zoom Technologies cybersecurity capabilities to provide robust, indigenous digital protection solutions aligned with national security imperatives. 

The defence firm clocked a 119% rise in net profit at Rs 18.5 crore in Q1 against Rs 8.43 crore profit in the Q1 of the previous fiscal. Revenue from operations rose 46.46% to Rs 133.58 crore in the last quarter against Rs 91.20 crore revenue in the corresponding quarter of the previous fiscal. 

Apollo Microsystems is an electronic, electro-mechanical, engineering designs, manufacturing and supplies company. Its designs, develops and sells high-performance, mission and time critical solutions to defence, space and home land security for ministry of defence, government-controlled public sector undertakings and private sectors.