Apollo Micro Systems Limited — Audit Report / Information 2026

May 18, 2026

Apollo microsystems

Date: 18th May 2026

BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 540879	National Stock Exchange of India Ltd., Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Symbol: APOLLO

ISIN: INE713T01028

Sub: Outcome of Board Meeting held on 18th May 2026.

Ref: Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Madam / Sirs,

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we hereby inform you that the Board of Directors at its meeting held today, inter-alia, has:

1. Audited Standalone and Consolidated Financial Results of the Company for the quarter and year ended 31st March 2026

2. Approved the Statement of audited Standalone and Consolidated Financial Results of the Company for the quarter and year ended 31st March 2026. The following are enclosed:

3. Copy of the said results containing disclosures required under Regulations 33 and other provisions of the Listing Regulations as applicable;

4. Audit Report(s) by S.T. Mohite & Co. Chartered Accountants, Hyderabad, the Statutory Auditor of the Company, on the Standalone and the Consolidated Financial Results for the quarter and year ended 31st March 2026;

5. Declaration of Audit Reports with unmodified opinion.

6. Approved the appointment of M/s G H Reddy & Associates, Cost Accountants as Cost Auditors of the Company for the F.Y.2026-2027.

7. Approved the appointment of M/s E Sateesh Reddy & Associates, Chartered Accountants, as Internal Auditors of the Company for the F.Y.2026-2027.

8. Taken note of Resignation of Ms. Rukhya Parveen as Company Secretary & Compliance Officer of the Company with effect from 31st day of May 2026.

9. Approve the appointment of Mr. G. Seshadri Vasan as Company Secretary & Compliance officer of the Company with effect from 1st day of June 2026.

Apollo Micro Systems Limited

Regd Office. Plot No.128/A, Road No.12, IDA-Mallapur, Uppal Mandal, Hyderabad-500076, Telangana, India

Tel No:040-27167000-099, Fax No: 040-27150820

Mail: cs@apollo-micro.com, www.apollo-micro.com

CIN:L72200TG1997PLC026556

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AMS

apollo microsystems

1. Recommended a Final Dividend of Re 0.25% (0.25 paisa) per equity share of face value of Rs. 1/- each for the financial year ended 31st March 2026, for the approval of the members at the Annual General Meeting.

Details as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No. SEBI/HO/CFD/ PoD2 /CIR /P/0155 dated November 11, 2024 and SEBI Circular No. SEBI/HO/ CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024, as amended from time to time for point no.2 and 3 are given as Annexure -2

The meeting commenced at 11.30 a.m and concluded at 3.00 p.m.

We request you to take note of the aforesaid.

Yours faithfully,

For Apollo Micro Systems Limited

BADDAM
KARUNAKAR
REDDY

Digitally signed by BADDAM
KARUNAKAR REDDY
Date: 2026.05.18 15:08:27
+05'30'

Karunakar Reddy Baddam
Managing Director
DIN:00790139

Apollo Micro Systems Limited

Regd Office. Plot No.128/A, Road No.12, IDA-Mallapur, Uppal Mandal, Hyderabad-500076, Telangana, India

Tel No:040-27167000-099, Fax No: 040-27150820

Mail: cs@apollo-micro.com, www.apollo-micro.com

CIN:L72200TG1997PLC026556

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S.T. Mohite & Co.,

Chartered Accountants

G5, B-Block, Paragon Venkatadri Apartments,

3-4-812, Street No.1, Barkatpura

Hyderabad – 500 027 T.S. INDIA.

Mob:9848994508, 9290285566

Email: STMohiteandco@stmohite.onmicrosoft.com

INDEPENDENT AUDITOR'S REPORT TO THE BOARD OF DIRECTORS OF APOLLO MICRO SYSTEMS LIMITED

Report on the audit of the Standalone Financial Results

Opinion

We have audited the accompanying standalone financial results of Apollo Micro Systems Limited (hereinafter referred to as the company) for the quarter and year ended 31 March 2026 ('the Statement') attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").

In our opinion and to the best of our information and according to the explanations given to us, the statement:

a. is presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
b. gives a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards prescribed under section 133 of the Companies Act 2013 (the "Act") read with relevant rules issued thereunder ("Ind AS") and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information of the Company for the quarter and year ended 31 March 2026.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (the Act). Our responsibilities under those standards are further described in the Auditor's Responsibilities for 'Audit of the Standalone Financial Results' section of our report below. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India ("ICAI") together with the ethical requirements that are relevant to our audit of the standalone financial results under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and ICAI's Code of Ethics. We believe that the audit evidence obtained us is sufficient and appropriate to provide a basis for our audit opinion on the standalone financial results.

Management's and the Board of Directors' Responsibilities for the Standalone Financial Results

These standalone financial results for the quarter as well as the year-to-date (Standalone Financial Results) have been prepared on the basis of the standalone financial statements. The Company's Management and the Board of Directors are responsible for the preparation of these standalone financial results that give a true and fair view of the net profit/loss and other comprehensive loss/income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and 52 of the Listing Regulations.

This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the

S.T. Mohite & Co.

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S.T. Mohite & Co., Chartered Accountants

accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the standalone financial results, the Management and the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Standalone Financial Results

Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the standalone financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of the standalone financial results on whether the company has adequate internal financial controls with reference to standalone financial statements in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the standalone financial results by made the Management and the Board of Directors.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the standalone financial results represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

C

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S.T. Mohite & Co., Chartered Accountants

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

Other Matters:

The standalone financial results include the results for the quarter ended 31 March 2026 being the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year.

For S.T. Mohite & Co.
Chartered Accountants (Regd. No. 011410S)
S. Hinnar Bindu
HIMABINDU SAGALA
Partner (Membership No. 231056)

Place: Hyderabad
Date: 18th May 2026

ICAI UDIN: 26231056BXYHMG1538

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Apollo Micro Systems Limited

(CIN: L72200TG1997PLC026556)

Registered office: Plot No. 128/A, Road No. 12, BEL Road, IDA Mallapur, Hyderabad - 500076, Telangana.

Email: cs@apollo-micro.com; Website: www.apollo-micro.com

Tel No: 040-27167000, Fax: 040-27150820

STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31 MARCH 2026

All amounts in lakhs except otherwise stated

Sl. No.	Particulars	Quarter ended			Year ended
		31.03.2026 (Audited)	31.12.2025 (Unaudited)	31.03.2025 (Audited)	31.03.2026 (Audited)	31.03.2025 (Audited)
1	2	3	4	5	6	7
1	Income
	(a) Revenue from operations	20,522.18	20,078.39	16,176.67	76,485.32	56,206.92
	(b) Other Income	840.59	441.85	113.29	1,733.71	404.83
	Total Income (a+b)	21,362.77	20,520.23	16,289.96	78,219.03	56,611.75
2	Expenses
	(a) Cost of materials consumed	15,829.60	15,428.17	12,491.34	59,246.52	43,528.89
	(b) Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(3,358.08)	(1,935.65)	(1,180.88)	(9,520.40)	(3,870.53)
	(c) Employee Benefit Expenses	801.27	684.75	679.55	2,688.95	2,183.45
	(d) Financial costs	825.01	870.77	1,051.18	3,710.46	3,414.35
	(e) Depreciation and amortization expenses	512.53	513.45	414.62	1,948.88	1,531.94
	(f) Other Expenses	1,209.79	572.93	583.06	2,681.93	1,443.22
	Total Expenses (a+b+c+d+e+f)	15,820.14	16,134.42	14,038.88	60,756.34	48,231.32
3	Profit before exceptional items & tax (1-2)	5,542.63	4,385.82	2,251.09	17,462.69	8,380.43
4	Exceptional items	-	-	-	-	-
5	Profit before tax (3-4)	5,542.63	4,385.82	2,251.09	17,462.69	8,380.43
6	Tax Expense:
	(a) Current tax	1,530.82	541.35	622.47	3,709.06	1,891.01
	(b) Earlier tax adjustments	44.57	46.17	17.71	90.73	53.13
	(c) Deferred tax	222.52	732.27	179.15	1,605.01	712.13
	Total Tax Expense (a+b)	1,797.90	1,319.78	819.33	5,404.81	2,656.27
7	Profit after tax (5-6)	3,744.73	3,066.03	1,431.75	12,057.88	5,724.16
8	Other Comprehensive income/(loss)
	i) Items that will not be reclassified to profit or loss
	(a) Re-measurement gains/ (losses) on defined benefit plan	(6.30)	21.22	(20.10)	14.92	(20.10)
	(b) Income tax effect	1.84	(6.18)	5.85	(4.34)	5.85
	ii) Items that will be reclassified to profit or loss
	(a) Re-measurement gains/ (losses) on defined benefit plan	-	-	-	-	-
	(b) Income tax effect	-	-	-	-	-
	Total other comprehensive income (net of tax) (a+b)	(4.47)	15.04	(14.25)	10.58	(14.25)
9	Total comprehensive income (7+8)	3,740.26	3,081.08	1,417.51	12,068.46	5,709.91
10	Paid up equity share capital (FV Rs.1/- each)	3,572.92	3,572.92	3,064.90	3,572.92	3,064.90
11	Other equity				1,28,660.42	57,797.00
12	Earnings per share in Rupees (FV Rs.1/- each)	(not annualised)	(not annualised)	(not annualised)	(annualised)	(annualised)
	(a) Basic EPS	1.11	0.93	0.47	3.57	1.89
	(a) Diluted EPS	1.10	0.91	0.47	3.53	1.89

For Apollo Micro Systems Limited

Karunakar Reddy Baddam

Managing Director

DIN: 00790139

Place: Hyderabad

Date: 18 May 2026

Raghupathy Goud Theegala

Chairman

DIN: 07785738

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Standalone Statement of Assets and Liabilities as at 31 March 2026

All amounts in lakhs except otherwise stated

Particulars	As at 31.03.2026 Audited	As at 31.03.2025 Audited
Assets
Non-current assets
a) Property, plant and equipment	26,742.40	17,121.93
b) Capital work-in-progress	17,059.72	5,873.48
c) Other intangible assets	559.14	499.01
d) Right of Use Assets	349.12	461.72
e) Financial assets
Investments	133.65	193.65
Loans	31,615.82	1,827.08
Other financial assets	869.24	745.25
e) Other Non-Current assets	1,690.29	592.88
Sub-total	79,019.37	27,315.00
Current assets
a) Inventories	76,000.75	60,058.83
b) Financial assets
Trade receivables	45,343.10	23,832.95
Cash and cash equivalents	2,024.62	21.58
Other bank balances	6,419.05	2,220.89
Loans	542.78	769.32
c) Other current assets	20,123.33	12,005.19
Sub-total	1,50,453.63	98,908.76
Total assets	2,29,473.00	1,26,223.76
Equity and Liabilities
Equity
Equity share capital	3,572.92	3,064.90
Other equity	1,28,660.42	57,796.99
Sub-total	1,32,233.34	60,861.89
Non-current liabilities
a) Financial Liabilities
i) Borrowings	11,925.97	3,821.13
ii) Lease Liabilities	192.07	269.13
iii) Others	-	120.00
b) Deferred tax liabilities, net	5,683.17	4,073.81
c) Provisions	189.65	164.44
Sub-total	17,990.86	8,448.51
Current liabilities
a) Financial Liabilities
i) Borrowings	36,578.53	25,248.08
ii) Lease Liabilities	168.51	189.31
iii) Trade payables:-
- total outstanding dues of micro enterprises and small enterprises	83.48	42.13
- total outstanding dues of creditors other than micro enterprises and small enterprises	35,564.37	27,945.87
iv) Other financial liabilities	2,108.92	541.15
b) Other current liabilities	767.95	772.75
c) Current tax liabilities, net	3,952.63	2,134.57
d) Provisions	24.41	39.51
Sub-total	79,248.80	56,913.37
Total equity and liabilities	2,29,473.00	1,26,223.76

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Standalone Cash Flow Statement for the year ended 31 March 2026

All amounts in lakhs except otherwise stated

	Particulars	For the year ended 31.03.2026	For the year ended 31.03.2025
A	Cash flows from operating activities:
	Profit before tax	17,462.69	8,380.43
	Adjustments for:
	Depreciation and amortisation expenses	1,948.88	1,531.94
	Finance income	(1,687.04)	(374.41)
	Finance costs	3,710.46	3,414.35
	(gain)/loss Foreign exchange fluctuation	432.32	63.01
	Working capital adjustments:
	Decrease / (Increase) in trade receivables	(21,510.14)	(305.78)
	Decrease / (Increase) in inventories	(15,941.92)	(16,707.73)
	Decrease / (Increase) in loans	226.53	(49.88)
	Decrease / (Increase) in other assets	(8,138.14)	(4,980.08)
	Increase/ (decrease) in trade payables and other financial liabilities	7,227.53	11,028.48
	Increase/ (decrease) in other financial liabilities	1,562.98	(171.23)
	Increase/ (decrease) in provisions	25.04	49.61
		(14,680.82)	1,878.71
	Income tax paid	(1,981.74)	(696.11)
Net cash flow from/(used in) operating activities	(16,662.56)	1,182.60
B	Cash flows from/(used in) investing activities :
	Purchase of property, plant and equipment (including capital work in progr	(23,800.53)	(8,690.20)
	Loan to others	-	-
	Loans to Subsidiaries	(29,788.73)	(825.70)
	Bank deposits (having original maturity of more than three months) - net	(4,198.16)	(166.30)
	Other financial assets	(163.99)	(7.67)
	Finance income	1,687.04	374.41
Net cash flows from/(used in) investing activities	(56,264.37)	(9,315.45)
C	Cash flows from/(used in) financing activities :
	Share Capital	28,972.93	-
	Money received against share warrants	31,163.90	3,366.23
	Dividend Paid	(833.84)	(153.25)
	Proceeds from borrowings	12,859.91	3,870.42
	Repayment of borrowings	(1,879.26)	(993.02)
	Proceeds from short-term loans and borrowings, net	8,454.65	5,587.41
	Payment of principal portion of lease liabilities	(97.86)	(127.67)
	Finance cost	(3,710.46)	(3,414.35)
	Net cash flows from/(used in) financing activities	74,929.97	8,135.78
	Net increase / (decrease) in cash and cash equivalents	2,003.04	2.93
	Cash and cash equivalents at the beginning of the year	21.58	18.65
Cash and cash equivalents at the end of the year	2,024.62	21.58

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Notes to Standalone Audited Financial Results for the quarter and year ended 31 March 2026.

1. The above audited financial results of the Apollo Micro Systems Limited ('the Company') have been prepared in accordance with the Indian Accounting Standards (IND AS) as prescribed under section 133 of the Companies Act, 2013 ('the Act') read with Companies (Indian Accounting Standard) Rules, 2015, as amended.

2. These aforementioned results were reviewed by the Audit Committee of the Board and approved by the Board of Directors of the Company at their meeting held on 18 May 2026. The Statutory Auditors of the Company have carried out a limited review and audit of the results for the quarter and year ended 31 March 2026 respectively.

3. The Company operates in only one segment, namely electromechanical components and systems and allied components and services. Hence segmental reporting as per Ind AS 108 is not presented.

4. During the year, the Company has issued 3,80,67,058 share warrants at an issue price of Rs.114/- per warrant, each convertible into one equity share of face value of Rs.1/- each at the same issue price. Out of the said warrants, 2,37,59,986 warrants have been converted into equivalent number of equity shares of Rs.1/- fully paid, up to 31 March 2026, and the balance 1,43,07,072 share warrants remain outstanding and pending for conversion into equity shares as at the end of the quarter.

5. During the quarter ended December 31, 2025, Apollo Defence Industries Private Limited, (a subsidiary of the Company), acquired 100% stake in in IDL Explosives Limited on 15 November 2025 for a consideration of Rs.10,700 lakhs. IDL Explosives Limited has been consolidated as a subsidiary with effect from the date of acquisition.

6. On 21st November 2025, the Government of India notified provisions of the Code on Wages 2019, the Industrial Relations Code 2020, the Code on Social Security 2020 and the Occupational Safety, Health and Working Conditions Code 2020, consolidating the existing 29 labour laws. The Ministry of Labor & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Company has assessed the financial impact of these changes and that there is no material increase in gratuity liability, as the Company's existing wage structure is already aligned with the definitions prescribed under the above Codes.

7. The figures of the last quarter are the balancing figures between audited figures in respect of the full financial year up to 31 March 2026 and the unaudited published year-to-date figures up to 31 December 2025 being the date of the end of the third quarter of the financial year which were subjected to a limited review.

8. The Board of Directors, at their meeting held on May 18, 2026, have recommended a final dividend of Rs. 0.25/ per share, subject to the approval of shareholders.

9. The said Financials results are also available on the website of stock exchange www.bseindia.com and www.nseindia.com and on the company's website www.apollo-micro.com under section "Investors".

For and on behalf of the Board of Directors of Apollo Micro Systems Limited

Karunakar Reddy Baddam
Managing Director
DIN: 00790139

Place: Hyderabad
Date: 18 May 2026

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S.T. Mohite & Co., Chartered Accountants
G5, B-Block, Paragon Venkatadri Apartments, 3-4-812, Street No.1, Barkatpura
Hyderabad – 500 027 T.S. INDIA.
Mob:9848994508, 9290285566
Email: STMohiteandco@stmohite.onmicrosoft.com

INDEPENDENT AUDITOR'S REPORT

TO THE BOARD OF DIRECTORS OF APOLLO MICRO SYSTEMS LIMITED

Report on the audit of the Consolidated Financial Results

Opinion

We have audited the accompanying Statement of Consolidated Financial Results of Apollo Micro systems Limited (hereinafter referred to as ‘Holding Company’) and its subsidiaries (holding company and its subsidiaries together referred to as ‘the Group’) for the quarter and Year ended 31 March 2026 (‘the Statement’) attached herewith, being submitted by the holding Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘Listing Regulations’).

In our opinion and to the best of our information and according to the explanations given to us, and based on the consideration of the reports of the other auditors on separate financial statements/ financial information of subsidiaries, the Statement:

a. The Consolidated Financial statements include the results of the 2 subsidiaries Viz,

i. Annanya SIP RF Technologies Private Limited with parent’s holding at 51% in the subsidiary and its financial statements are audited by us as statutory auditor; and
ii. both intermediary parent and one stepdown subsidiary were audited by us, the other stepdown subsidiary Viz., IDL Explosive Limited whose financials are included in consolidated financial statements of ultimate parent are not audited by us but by other statutory auditors.

b. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
c. gives a true and fair view, in conformity with recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of consolidated total comprehensive income (comprising of net [profit/loss] and other comprehensive income/ loss) and other financial information of the Group for the quarter and year ended 31 March 2026.

Basis for Opinion

We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (“the Act”). Our responsibilities under those SAs are further described in the Auditor’s Responsibilities for the Audit of the Consolidated Financial Results section of our report. We are independent of the Group with the Code of Ethics issued by the Institute of Chartered Accountants of India (‘ICAI’) together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us and other auditors in terms of their reports referred to in “Other Matter” paragraph below, is sufficient and appropriate to provide a basis for our opinion on consolidated financial results.

A

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CA INDIA

S.T. Mohite & Co., Chartered Accountants

Management and the Board of Directors' Responsibilities for the Consolidated Financial Results

These quarterly consolidated financial results as well as the year-to-date statements (Consolidated Financial Results) are prepared on the basis of consolidated financial statements.

The Holding Company's Management's and Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the consolidated net profit/ loss and other comprehensive loss/income and other financial information of the Group in accordance with the recognition and measurement principles laid down in Indian Accounting Standard prescribed under Section 133 of the Act and the rules thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. The respective Management and the Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Group and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial results by the management and the Directors of the Holding Company, as aforesaid.

In preparing the consolidated financial results, the respective Management's and Board of Directors of the companies included in the Group are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the respective Board of Directors either intends to liquidate the company or to cease operations, or has no realistic alternative but to do so.

The respective Board of Directors of the companies included in the Group are responsible for overseeing the financial reporting process of the Group.

Auditor's Responsibilities for the Audit of the Consolidated Financial Results

Our objectives are to obtain reasonable assurance about whether the consolidated financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial results.

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the consolidated financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

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S.T. Mohite & Co., Chartered Accountants

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of the financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the consolidated financial results made by the Management and the Board of Directors of the Holding Company.

• Conclude on the appropriateness of the Management and Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on appropriateness of this assumption. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the consolidated financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.

• Evaluate the overall presentation, structure, and content of the consolidated financial results, including the disclosures, and whether the consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.

• Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the companies within the Group to express an opinion on the consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of companies included in the consolidated financial results of which we are the independent auditors. For the other entities included in the consolidated Financial Results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.

We communicate with those charged with governance of the Holding Company and such other companies included in the consolidated financial results of which we are the independent auditors regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

We also performed procedures in accordance with the Circular No. CIR/CFD/CMD1/44/2019 dated March 29, 2019 issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.

Mohite & Co.
CA
1400 No. 18
144105
Hyd
Audited Assn

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S.T. Mohite & Co., Chartered Accountants

Other Matters:

We, as statutory auditors, carried out audit of parent, two subsidiaries and one step down subsidiary but we did not audit the financial statements of one step-down subsidiary, IDL Explosive Limited included in the consolidated financial results, whose financial statements reflect total assets of Rs.23,845.94 lakhs as at 31 March 2026 and total revenues of Rs. 8,685.93 lakhs and Rs. 37,979.77 lakhs, total net Profit after tax of Rs. 150.21 lakhs and Rs. (3,064.15) lakhs and total comprehensive income of Rs. 167.79 lakhs and Rs. (3,055.39) lakhs for the quarter and year ended 31 March 2026 respectively, and net cash inflows of Rs. 6,820.81 lakhs for the year ended 31 March 2026, as considered in the Statement. These financial statements have been audited by other auditor whose report has been furnished to us by the Management and our opinion and conclusion on the consolidated financial results included in the Statement, in so far as it relates to the amounts and disclosures included in respect of the subsidiary is based solely on the report of the other auditor and the procedures performed by us are as stated in paragraph above.

Our opinion on the Consolidated Financial Results is not modified in respect of the above matters with respect to our reliance on the work done and the reports of the other auditor and Financial Results/financial information certified by the Board of Directors.

The consolidated financial results include the results for the quarter ended 31 March 2026 being the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year.

Place: Hyderabad
Date: 18th May 2026

ICAI UDIN: 26231056GQRPWN6374

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Apollo Micro Systems Limited

(CIN: L72200TG1997PLC026556)

Registered office: Plot No. 128/A, Road No. 12, BEL Road, IDA Mallapur, Hyderabad - 500076, Telangana.

Email: cs@apollo-micro.com; Website: www.apollo-micro.com

Tel No: 040-27167000, Fax: 040-27150620

CONSOLIDATED AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31 MARCH 2026

All amounts in lakhs except otherwise stated

SL No.	Particulars	Quarter ended			Year ended
		31.03.2026 (Audited)	31.12.2025 (Unaudited)	31.03.2025 (Audited)	31.03.2026 (Audited)	31.03.2025 (Audited)
1	2	3	4	5	6	7
1	Income
	(a) Revenue from operations	29,325.62	25,222.01	16,176.67	90,432.38	56,206.92
	(b) Other Income	319.28	90.60	73.03	627.34	288.54
	Total Income (a+b)	29,644.90	25,312.61	16,249.70	91,059.73	56,495.66
2	Expenses
	(a) Cost of materials consumed	22,292.51	19,940.29	12,491.34	70,221.55	43,545.09
	(b) Purchases of stock-in-trade	-	61.70	-	61.70	-
	(c) Operating cost	81.12	-	-	81.12	-
	(d) Changes in inventories of finished goods, work-in-progress and Stock-in-Trade	(3,268.81)	(2,049.19)	(1,180.88)	(9,544.67)	(3,870.53)
	(e) Employee Benefit Expenses	1,345.42	1,165.82	681.50	3,718.01	2,198.59
	(f) Financial costs	907.75	1,362.50	1,057.76	4,732.37	3,421.57
	(g) Depreciation and amortization expenses	696.55	610.82	414.45	2,231.51	1,533.29
	(g) Other Expenses	2,111.01	1,064.02	585.84	4,078.40	1,412.83
	Total Expenses (a+b+c+d+e+f)	24,165.55	22,155.97	14,050.03	75,579.99	48,240.82
3	Profit before exceptional items & tax (1-2)	5,479.34	3,156.64	2,199.67	15,479.73	8,254.64
4	Exceptional items
5	Profit before tax (3-4)	5,479.34	3,156.64	2,199.67	15,479.73	8,254.64
6	Tax Expense:
	(a) Current tax	1,370.91	115.19	606.78	2,908.12	1,852.37
	(b) Earlier tax adjustments	44.57	46.17	17.71	90.73	53.13
	(c) Deferred tax	385.11	707.19	179.11	1,742.87	713.37
	Total Tax Expense (a+b)	1,800.58	868.55	803.60	4,741.72	2,618.88
7	Profit after tax (5-6)	3,678.76	2,288.09	1,396.08	10,738.01	5,635.76
8	Other Comprehensive income
	i) Items that will not be reclassified to profit or loss
	(a) Re-measurement gains/ (losses) on defined benefit plan	17.19	15.81	(20.10)	33.00	(20.10)
	(b) Income tax effect	(4.08)	(4.82)	5.85	(8.90)	5.85
	ii) Items that will be reclassified to profit or loss
	(a) Re-measurement gains/ (losses) on defined benefit plan	-	-	-	-	-
	(b) Income tax effect	-	-	-	-	-
9	Total other comprehensive income, net of tax (a+b)	13.12	10.99	(14.25)	24.11	(14.25)
10	Net Profit / (loss) attributable to
	a) Owners of the Company	3,761.95	2,567.77	1,400.36	11,292.01	5,639.63
	b) Non controlling interest	(83.19)	(279.69)	(4.29)	(554.00)	(3.87)
11	Other Comprehensive income attributable to
	a) Owners of the Company	(0.42)	10.99	(14.25)	10.58	(14.25)
	b) Non controlling interest	13.53	-	-	13.53	-
12	Total Comprehensive income attributable to
	a) Owners of the Company	3,761.53	2,578.77	1,386.12	11,302.58	5,625.39
	b) Non controlling interest	(69.65)	(279.69)	(4.29)	(540.46)	(3.87)
13	Paid up equity share capital (Face Value Rs.1/- each)	3,572.92	3,572.92	3,064.90	3,572.92	3,064.90
14	Other equity				1,27,249.12	57,692.03
15	Earnings per share in Rupees (Face Value Rs.1/- each)	(not annualised)	(not annualised)	(not annualised)	(annualised)	(annualised)
	(a) Basic	1.09	0.69	0.46	3.18	1.86
	(a) Diluted	1.08	0.68	0.46	3.15	1.86

For Apollo Micro Systems Limited

Karunakar Reddy Baddam

Managing Director

DIN: 00790139

Place: Hyderabad

Date: 18 May 2026

Raghupathy Goud Theegala

Chairman

DIN: 07785738

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Consolidated Statement of Assets and Liabilities as at 31 March 2026

All amounts in lakhs except otherwise stated

Particulars	As at 31.03.2026 Audited	As at 31.03.2025 Audited
Assets
Non-current assets
a) Property, plant and equipment	31,525.89	17,227.13
b) Capital work-in-progress	19,629.40	7,228.24
c) Other intangible assets	580.56	499.01
d) Right of Use Assets	1,113.96	461.72
d) Financial assets	-	-
Loans	-	-
e) Other Non Current Assets	2,930.77	1,602.48
f) Goodwill	14,519.55	1.89
Sub-total	70,300.12	27,020.47
Current assets
a) Inventories	79,528.93	60,063.61
b) Financial assets
Trade receivables	48,132.28	23,832.95
Cash and cash equivalents	8,950.32	4,026.96
Other bank balances	6,661.11	2,220.89
Loans	542.78	769.32
c) Other current assets	22,735.29	12,014.66
Sub-total	1,66,550.71	1,02,928.38
Total assets	2,36,850.83	1,29,948.85
Equity and Liabilities
Equity
Equity share capital	3,572.92	3,064.90
Other equity	1,27,736.58	57,625.50
Equity Attributable to Owners of the company	1,31,309.51	60,690.40
Non Controlling Interest	(487.46)	66.53
Sub-total	1,30,822.04	60,756.93
Non-current liabilities
a) Financial Liabilities
i) Borrowings	11,962.18	7,012.69
ii) Lease Liabilities	696.98	269.13
b) Deferred tax liabilities, net	5,421.64	4,075.06
c) Provisions	509.65	163.14
Sub-total	18,590.44	11,520.01
Current liabilities
a) Financial Liabilities
i) Borrowings	41,279.03	26,063.61
ii) Lease Liabilities	387.70	189.31
iii) Trade payables:-
- total outstanding dues of micro enterprises and small enterprises	652.92	42.13
- total outstanding dues of creditors other than micro enterprises	37,548.51	27,952.37
iii) Other financial liabilities	3,477.24	551.44
b) Other current liabilities	866.97	776.23
c) Current tax liabilities, net	3,073.13	2,056.02
d) Provisions	152.84	40.81
Sub-total	87,438.35	57,671.94
Total equity and liabilities	2,36,850.83	1,29,948.85

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Consolidated Cash Flow Statement for the year ended 31 March 2026

All amounts in lakhs except otherwise stated

| Particulars | for the year ended
31.03.2026 | for the year
ended
31.03.2025 |
| --- | --- | --- |
| Cash flow from/(used in) operating activities: | | |
| Profit or (Loss) before tax | 15,479.73 | 8,254.64 |
| Adjustments for: | | |
| Depreciation and amortisation | 2,231.51 | 1,533.29 |
| Finance income | (421.18) | (258.78) |
| Finance costs | 4,732.37 | 3,421.58 |
| (gain)/loss Foreign exchange fluctuation | 630.90 | 63.01 |
| Working capital adjustments: | | |
| Decrease/(Increase) in receivables | (20,329.41) | (305.78) |
| Decrease/(Increase) in inventories | (16,348.63) | (16,707.73) |
| Decrease/(Increase) in loans | 1,133.47 | (49.88) |
| Decrease/(Increase) in other assets | (7,198.80) | (4,990.13) |
| Increase/(decrease) in trade payables and other financial liabilities | 7,745.39 | 11,017.03 |
| Increase/(decrease) in provisions | 58.65 | 49.62 |
| Increase/(decrease) in other Current liabilities | 1,291.39 | (307.19) |
| | (10,994.61) | 1,719.66 |
| Income tax paid | (1,981.74) | (696.10) |
| Net cash flow from/(used in) operating activities | (12,976.35) | 1,023.56 |
| Cash flows from/(used in) investing activities : | | |
| Purchase of property, plant and equipment (including capital work in progress | (22,762.30) | (9,221.48) |
| (Investments in)/ redemption of bank deposits - net | (8,986.51) | (166.30) |
| Bank deposits (having original maturity of more than three months) - net | (4,198.16) | - |
| Other financial assets | (163.99) | - |
| Finance income | 421.18 | 258.78 |
| Net cash flows from/(used in) investing activities | (35,689.78) | (9,129.00) |
| Cash flows from financing activities: | | |
| Money received against share warrants | 31,163.90 | 3,366.23 |
| Proceeds from issuance of equity shares capital | 28,972.93 | 0.49 |
| Dividend paid | (833.84) | (153.25) |
| Proceeds from issuance of non-convertible | 1,000.00 | 4,000.00 |
| Repayment of non-convertible dedentures | (5,000.00) | - |
| Repayment of borrowings | (6,168.85) | 3,870.42 |
| Proceeds from short-term loans and borrowings, net | (1,979.79) | (1,837.66) |
| Proceeds from short-term loans and borrowings, net | 11,321.39 | 6,415.75 |
| Payment of principal portion of lease liabilities | (153.89) | (127.67) |
| Finance costs | (4,732.37) | (3,421.58) |
| Net cash flows from/(used in) financing activities | 53,589.48 | 12,112.74 |
| Net increase / (decrease) in cash and cash equivalents | 4,923.36 | 4,007.30 |
| Cash and cash equivalents at the beginning of the year | 4,026.96 | 19.66 |
| Cash and cash equivalents at the end of the period | 8,950.32 | 4,026.96 |

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Notes to Consolidated Audited Financial Results for the quarter and year ended 31 March 2026.

1. These above audited consolidated financial results represent the financial results of Apollo Micro Systems (the Company) and its subsidiaries (i.e. Ananya SIP RF Technologies Private Limited, Apollo Defence Industries Private Limited and stepdown subsidiary Apollo Strategic Technologies Private Limited, IDL Explosives Limited) together referred to as ("the Group") have been prepared in accordance with the Indian Accounting Standards (IND AS) as prescribed under section 133 of the Companies Act, 2013 ('the Act') read with Companies (Indian Accounting Standard) Rules, 2015, as amended.

2. During the quarter ended December 31, 2025, Apollo Defence Industries Private Limited (a subsidiary of the Company), acquired 100% stake in IDL Explosives Limited on 15 November 2025 for a consideration of Rs.10,700 lakhs. IDL Explosives Limited has been consolidated as a step-down subsidiary w.e.f 16 November 2025.

3. These aforementioned results were reviewed by the Audit Committee of the Board and approved by the Board of Directors of the Company at their meeting held on 18th May 2026. The Statutory Auditors of the Company have carried out a limited review and audit of the results for the quarter and year ended 31 March 2026 respectively.

4. The Group operates in only one segment, namely electromechanical components and systems and allied components and services. Hence segmental reporting as per Ind AS 108 is not presented.

5. During the year, the Company has issued 3,80,67,058 share warrants at an issue price of Rs.114/- per warrant, each convertible into one equity share of face value of Rs.1/- each at the same issue price. Out of the said warrants, 2,37,59,986 warrants have been converted into equivalent number of equity shares of Rs.1/- fully paid, up to 31 March 2026, and the balance 1,43,07,072 share warrants remain outstanding and pending for conversion into equity shares as at the end of the quarter.

6. Apollo Defence Industries Private Limited, a subsidiary of Apollo Micro Systems Limited, entered into a share purchase agreement on 02 May 2025 to acquire 100% stake in IDL Explosives Limited. The transaction was completed on 15 November 2025 there by making IDL Explosives Limited a wholly owned subsidiary of Apollo Defence Industries Private Limited. The total purchase consideration was Rs. 10,700.00 Lakhs.

The Company has accounted for the transaction under Ind AS 103, "Business Combinations". The Company is in the process of completing the purchase price allocation and hence as on 31 March 2026, the purchase price allocation was preliminary.

1. On 21st November 2025, the Government of India notified provisions of the Code on Wages 2019, the Industrial Relations Code 2020, the Code on Social Security 2020 and the Occupational Safety, Health and Working Conditions Code 2020, consolidating the existing 29 labour laws. The Ministry of Labor & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The group has assessed the financial impact of these changes, consistent with the guidance provided by the Institute of Chartered Accountants of India, which has resulted in an increase in gratuity liability by Rs.1.26 crores, which has been reported under employee benefits in these consolidated results.

2. The Board of Directors, at their meeting held on May 18, 2026, have recommended a final dividend of Rs. 0.25 per share, subject to the approval of shareholders.

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1. The said Financials results are also available on the website of stock exchange www.bseindia.com and www.nseindia.com and on the company's website www.apollo-micro.com under section "Investors".

For and on behalf of the Board of Directors of Apollo Micro Systems Limited

Karunakar Reddy Baddam
Managing Director
DIN: 00790139

Place: Hyderabad
Date: 18th May 2026

Raghupathy Goud Theegala
Chairman
DIN: 07785738

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AnuS

apollo microsystems

Details required under the Listing Regulations read with SEBI Master Circular No. SEBI/HO/CFD /PoD2/CIR / P/0155 dated November 11, 2024 and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185 dated December 31, 2024.

Brief Particulars of Cost Auditors:

S.No	Details of event that need to be provided	Information of such event(s)
1	Name and Address of the Cost Auditor	M/s G H Reddy & Associates
#17-1-386/A/1, 1st Floor, Mallareddy Complex, Sagar Road, Champapet, Hyderabad-500079, Telangan
2	Reason for change – Re-appointment	Re-Appointment of M/s G H Reddy & Associates as Cost Auditor of the Company for the Financial year 2026-2027
3	Date of Re-Appointment	18th May 2026
4	Term of Re-Appointment	For the Financial year 2026-2027
5	Brief Profile	G H REDDY & ASSOCIATES has more than 8 years’ experience in service of Cost Audit, Cost records Maintenance, Costing System design & other costing related services. They have clients from various sectors including Electronics, Iron and steel and infrastructure.
6	Disclosure of relationship between Directors (in case of appointment of a Director)	Not applicable

Brief Particulars of Internal Auditors:

S.No	Details of event that need to be provided	Information of such event(s)
1	Name and Address of the Cost Auditor	M/s. E Sateesh Reddy & Associates
E1, 1st Floor, Vaishnavi Complex, Street No: 6, Habsiguda, Hyderabad-500007, Telangana
2	Reason for change – Re-appointment	Re-Appointment of M/s. Sateesh Reddy & Associates as Internal Auditor of the Company for the Financial year 2026-2027
3	Date of Re-Appointment	18th May 2026
4	Term of Re-Appointment	For the Financial year 2026-2027
5	Brief Profile	E Sateesh Reddy & Associates is a proprietorship firm with over 10 years of experience in statutory audits, internal audits, and bank branch audits, along with comprehensive services in direct and indirect taxation. Founded by CA E Sateesh Reddy, a Chartered Accountant by profession,

Apollo Micro Systems Limited

Regd Office. Plot No.128/A, Road No.12, IDA-Mallapur, Uppal Mandal, Hyderabad-500076, Telangana, India

Tel No:040-27167000-099, Fax No: 040-27150820

Mail: cs@apollo-micro.com, www.apollo-micro.com

CIN:L72200TG1997PLC026556

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ATS
apollo microsystems

		the firm also undertakes representation before Income Tax and GST authorities. It is committed to delivering high quality, compliance-driven solutions with a strong emphasis on integrity, accuracy, and financial discipline, including Electronics, Iron and steel and infrastructure.
6	Disclosure of relationship between Directors (in case of appointment of a Director)	Not applicable

Apollo Micro Systems Limited
Regd Office. Plot No.128/A, Road No.12, IDA-Mallapur, Uppal Mandal, Hyderabad-500076, Telangana, India
Tel No:040-27167000-099, Fax No: 040-27150820
Mail: cs@apollo-micro.com, www.apollo-micro.com
CIN:L72200TG1997PLC026556

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A

apollo microsystems

Date: 18th May 2026

BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Scrip Code: 540879	National Stock Exchange of India Ltd., Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Symbol: APOLLO

ISIN: INE713T01028

Dear Sir(s),

Declaration of Audit Reports with unmodified opinion for financial year ended 31st March 2026

Dear Madam / Sirs,

In terms of SEBI Circular CIR/CFD/CMD/56/2016 dated 26th May 2016 and Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended), we hereby declare that S.T.Mohite & Co., Chartered Accountants, Hyderabad (Firm Registration No. 011410S), the Statutory Auditor of the Company, has issued Audit Reports with unmodified opinion on the Standalone and Consolidated Financial Statements of the Company for the financial year ended 31st March 2026.

We request you to take note of the aforesaid.

Yours faithfully,

For Apollo Micro Systems Limited

BADDAM
KARUNAKAR
Digitally signed by BADDAM
KARUNAKAR REDDY
Date: 2026.05.18 15:09:28

REDDUkar Reddy Baddam
Managing Director
DIN: 00790139

Apollo Micro Systems Limited

Regd Office. Plot No.128/A, Road No.12, IDA-Mallapur, Uppal Mandal, Hyderabad-500076, Telangana, India

Tel No:040-27167000-099, Fax No: 040-27150820

Mail: cs@apollo-micro.com, www.apollo-micro.com

CIN:L72200TG1997PLC026556