Apsis AerocomShare price, financial results, shareholding and management
- Market cap
- ₹564 cr
- Stock P/E
- 75.1peers 56.0
- Book value
- ₹40.6
- Price to book
- 11.53
- EV / operating profit
- 46.4
- Market cap to sales
- 18.40
- ROCE · FY26
- 32.0%
- ROE · FY26
- 25.4%
- ROE, 3-year average
- 71.6%
- Operating margin · FY26
- 37.4%peers 20.0%
- Sales growth, 3 years
- 43.5%
- Profit growth, 3 years
- 93.9%
- Debt to equity
- 0.09peers 0.19
- Borrowings
- ₹4.2 cr
- Interest cover
- 39.1×
- Cash from business / op. profit
- 61%
- Debtor days
- 48
- Pledged
- 0.00%
- Promoter holding
- 73.02%
- Change in promoter holding
- -
- Shareholders
- 307
- High / low since listing
- ₹645 / ₹147
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Apsis Aerocom share price chart
Close on 6 Nov 2026 · 0.00% on the day · Vol 1.81 L
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -19.6%
- 3 months
- +0.4%
- 6 months
- +63.0%
- Since IPO
- +325.5%
- Traded a day, 20 days
- ₹1.45 cr
- Taken for delivery
- 98%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +50% | +14% |
| 3 years, a year | +44% | +94% |
| Latest half, H2 FY26 | +78% | +42% |
About Apsis Aerocom: business, products and customers
Apsis Aerocom machines high precision metal parts to each customer's own drawings, for makers of defence, aircraft and healthcare equipment, from two plants in Bengaluru. Its shares trade on NSE Emerge.
Apsis Aerocom makes precision machined parts on 3, 4 and 5 axis CNC machines, each made to a customer's drawing against a confirmed order, and supplies them directly with no dealers in between. Products include connector inserts, boxes for communication systems and camera parts, up to 1,200 mm long. Its quality systems follow the AS9100D aerospace standard and ISO 9001:2015.
The business began in 2012 as a partnership firm, Apsis Latitude, and became a company in August 2022; the three promoters are the founding shareholders. Customers are in Karnataka, Telangana, Maharashtra and Kerala, and some are based in the USA, Spain and Israel. The Managing Director said on the June 2026 call that most orders come from foreign equipment makers with offices in India, while about 90% of parts are delivered within India.
Read more about the business
In FY26 defence work made about 65% of revenue, aerospace about 26% and healthcare about 8%. Revenue from operations was ₹30.6 cr against ₹20.5 cr in FY25, and profit after tax ₹7.5 cr against ₹6.6 cr. The company listed on NSE Emerge in March 2026, raising ₹35.8 cr, most of it for machines at a second plant in the Hitech Defence and Aerospace Park near Bengaluru airport.
From the prospectus of March 2026, the FY26 annual report, the May 2026 investor presentation and the June 2026 earnings call.
Read the deeper study ↓In its favour
- Sales have grown fast: 44% a year over three years.
- It earns a high return on the money it uses: ROCE 32% in FY26.
- It has little debt for its size: debt to equity 0.09.
- The promoters own a large part of the company: 73.02%.
To watch
- Unit 2: partial operation from August 2026 and the full set of machines by about December 2026, as the Managing Director said (Earnings call, June 2026, p.13).
- The ₹40.5 cr order book, which the Managing Director said can be completed within about a year (Investor presentation, May 2026, p.11; Earnings call, June 2026, p.9).
- Spending of the ₹27.0 cr of IPO money set aside for Unit 2 machines, none of it used by 31 March 2026 (Annual report FY26, p.25).
- The share of revenue from the largest customer, 35.6% in FY26 (Investor presentation, May 2026, p.15).
- Its borrowings rose a lot last year: ₹4.2 cr, from ₹2.8 cr.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Apsis Aerocom revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
Apsis Aerocom half-yearly results
SME companies report every six months · ₹ crore
| H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|
| Sales | 9.52 | 13.65 | 16.99 |
| Expenses | 5.04 | 8.88 | 10.30 |
| Operating profit | 4.48 | 4.77 | 6.70 |
| OPM | 47.1% | 35.0% | 39.4% |
| Interest | 0.14 | 0.09 | 0.18 |
| Depreciation | 0.43 | 0.55 | 0.53 |
| Profit before tax | 3.97 | 4.18 | 6.05 |
| Net profit | 2.99 | 3.12 | 4.24 |
Apsis Aerocom profit and loss
Full years to March, FY23 to FY26 · ₹ crore, consolidated where reported
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Sales | 10.37 | 16.87 | 20.49 | 30.65 |
| Expenses | 8.45 | 12.70 | 10.29 | 19.18 |
| Operating profit | 1.92 | 4.17 | 10.20 | 11.46 |
| OPM | 18.5% | 24.7% | 49.8% | 37.4% |
| Other income | 0.04 | 0.01 | -0.08 | 0.11 |
| Interest | 0.13 | 0.14 | 0.26 | 0.27 |
| Depreciation | 0.46 | 0.62 | 0.93 | 1 |
| Profit before tax | 1.37 | 3.42 | 8.93 | 10.30 |
| Tax rate | 24.8% | 25.4% | 26.1% | 27.1% |
| Net profit | 1.03 | 2.55 | 6.60 | 7.51 |
| EPS ₹ | 10.53 | 26.08 | 67.50 | 8.40 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Earnings per share before FY26 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Apsis Aerocom profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Operating margin | 18.5% | 24.7% | 49.8% | 37.4% |
| Tax rate | 24.8% | 25.4% | 26.1% | 27.1% |
| ROCE | · | 68.5% | 94.0% | 32.0% |
| ROE | · | 96.0% | 93.3% | 25.4% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% |
Apsis Aerocom debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It borrowed much more last year. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Apsis Aerocom balance sheet
At each 31 March · ₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Equity capital | 0.98 | 0.98 | 0.98 | 12.05 |
| Reserves | 0.40 | 2.95 | 9.24 | 36.85 |
| Net worth | 1.38 | 3.93 | 10.22 | 48.90 |
| Borrowings | 2.44 | 2.65 | 2.76 | 4.18 |
| Other liabilities | 3.40 | 5.35 | 4.76 | 10.10 |
| Total liabilities | 7.22 | 11.93 | 17.74 | 63.18 |
| Fixed assets | 2.90 | 7.03 | 7.20 | 12.32 |
| Capital work in progress | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| Other assets | 4.32 | 4.90 | 10.54 | 50.86 |
| Receivables | · | · | · | 4.03 |
| Inventory | · | · | · | 4.14 |
| Cash | · | · | · | 36.51 |
| Trade payables | · | · | · | 4.75 |
Apsis Aerocom cash flow
₹ crore
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Cash from operations | 1.29 | 5.76 | 0.05 | 7.04 |
| Cash from investing | -0.45 | -4.91 | -3.41 | -6.07 |
| Cash from financing | 0.02 | 0.15 | 1.34 | 33.41 |
| Net cash flow | 0.86 | 1 | -2.02 | 34.38 |
| Capital spending | · | · | · | 6.41 |
Working capital
Days
| FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|
| Debtor days | 63 | 21 | 67 | 48 |
| Inventory days | 88 | 45 | 235 | 151 |
| Days payable | 234 | 200 | 238 | 173 |
| Cash conversion cycle | -83 | -134 | 65 | 26 |
| Working capital days | -95 | -111 | -1 | -22 |
Apsis Aerocom peers and competitors
Listed SME companies in the same industryBy sales, Apsis Aerocom is number 6 of the 6 listed SME companies in aerospace & defense.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Shree Refrigerations | 1,233 | 56.0 | 154 | 22 | 21.0% | 0.17 |
| Millworks Technologies | 1,903 | 51.4 | 149 | 37 | 35.0% | 0.20 |
| C2C Advanced Systems | 304 | 16.6 | 146 | 18.3 | 15.9% | 0.19 |
| Digilogic Systems | 565 | 56.5 | 77 | 10 | 20.0% | 0.04 |
| TechEra Engineering (India) | 244 | 87.9 | 48.5 | 2.8 | 17.1% | 0.61 |
| Apsis Aerocom | 564 | 75.1 | 30.7 | 7.5 | 37.4% | 0.09 |
| Median of the 5 others | 565 | 56 | 146 | 18.3 | 20.0% | 0.19 |
Apsis Aerocom shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share.
Apsis Aerocom shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Mar 26 | |
|---|---|
| Promoters | 73.02% |
| Foreign investors (FIIs) | 3.02% |
| Indian institutions (DIIs) | 5.25% |
| HNIs (over ₹2 lakh each) | 8.58% |
| Small holders (up to ₹2 lakh) | 5.45% |
| Companies and others | 4.68% |
| Number of shareholders | 307 |
The named holders are at 31 March 2026, beside 17 March 2026, each under the group the pattern files them in.
Apsis Aerocom study: the business from its own documents
Read from 7 of the company's own documentsApsis Aerocom so far
From the company's own record
- 18 March 2026Listed on NSE Emerge at ₹110
- 16 Sept 2026An order announced
- 31 March 2026Promoters at 73.02%
- 13 Oct 2026Highest close since listing, ₹642.75
Apsis Aerocom key facts from the filings
Each figure with the document it comes from
- Order book
- ₹40.5 cr
- Work in hand at the June 2026 call, about 1.3 times FY26 revenue: ₹25.3 cr defence and ₹12.9 cr aerospace.Investor presentation, May 2026, p.11; Earnings call, June 2026, p.7
- Largest customer
- 35.6% of revenue
- Down from 52.0% in FY25; the top ten customers still made 97.0% of FY26 revenue.Investor presentation, May 2026, p.15
- Unit 1 capacity
- 1,20,000 parts a year
- The Peenya plant; the Managing Director said on the June 2026 call it is fully used.Investor presentation, May 2026, p.15; Earnings call, June 2026, p.10
- Unit 2
- 1,80,000 parts a year
- Planned capacity of the new 20,000 sq ft plant; partial operation was due from August 2026 and the full set of machines by about December 2026.Investor presentation, May 2026, p.18; Earnings call, June 2026, p.13
- IPO money for machines
- ₹27.0 cr
- For 34 machines and equipment at Unit 2; none of it was spent by 31 March 2026 and the unspent ₹31.2 cr of proceeds sat in an escrow account.Annual report FY26, p.25; Investor presentation, May 2026, p.18
Show 5 more facts
- EBITDA margin
- 49.8% → 37.3%
- FY25 to FY26; the CFO put the fall down to Unit 2 costs before it earned revenue, listing costs and dearer raw material.Investor presentation, May 2026, p.5; Earnings call, June 2026, p.6
- New parts developed
- 250+
- Components developed and validated in FY26 across aerospace, defence and healthcare, which the company says are its pipeline for FY27.Earnings call, June 2026, p.4
- Exclusive parts
- About 40% of revenue
- The Managing Director's figure for revenue from parts where the company is at present the only supplier to that customer.Earnings call, June 2026, p.15
- Customers
- 15 to 20
- Seven to eight have been with the company a long time; around four were added from February 2026, the Managing Director said.Earnings call, June 2026, p.12 and p.15
- Land for Unit 3
- 40,000 sq ft
- Allotment letter from KIADB in the Devanahalli Industrial Area; transfer depends on meeting the allotment conditions.Investor presentation, May 2026, p.25
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
On the June 2026 call the Managing Director said the company aims to close FY27 at about ₹48 cr of revenue, about ₹30 cr from Unit 1 and ₹18 cr from Unit 2 running at under half its capacity, and that the order book can be completed within about a year. The Managing Director said the company can hold an EBITDA margin of 37% to 40%, has a pipeline of more than ₹100 cr beyond the order book with a usual conversion of about 30%, and aims for revenue of ₹500 cr a year within five years. The Chairman said Unit 2 should be fully running with about 35 machines by FY28.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Apsis Aerocom earns its money by machining hard to make metal parts to order for defence and aircraft makers, and it earns unusually wide margins for a machine shop.
Its weak spots are that a handful of customers bring in nearly all its sales, and its single working plant is already full until the new one starts.
AverageCan it set its own prices?Each part is priced when the order is quoted, and complex parts carry good margins. Cost rises during an order are only partly covered.
StrongHow strong is it against rivals?The company says customers have tried other suppliers for some parts without success, and that it is the only supplier for parts making up a large share of sales. A new supplier would have to pass the customer's audits again.
WatchWho are its customers?A small group of defence, aerospace and healthcare equipment makers. One customer still brings in about a third of sales and the top ten nearly all of it.
WatchDoes it need a lot of money?Its machines are costly and mostly imported, so growth comes in large steps of spending. The IPO money covers only part of what the company says Unit 2 will cost.
StrongCan it keep finding new work?Orders in hand already exceed a year of sales, and the company says it turns away work for lack of capacity. It developed many new parts in FY26 and added customers after listing.
WatchDo good and bad years swing a lot?Sales have risen each year, but margins have moved a long way from one year to the next. With so few customers, one order arriving or slipping can change a year.
Who runs Apsis Aerocom?
Promoters, directors and officers; tap a name for the background
BKBasavaraju Kanakatte ShivakumarPromoter and Managing Director · holds 26.21%
Director since incorporation in August 2022 and a partner in the earlier firm from 2012; Managing Director for five years from 18 March 2025. Trained as a general machinist at the Nettur Technical Training Foundation, Bangalore (2004 to 2007), then worked as a CNC technician and CNC programmer; over 17 years in CNC machining and programming. Runs operations, business development and the quality system, and also manages a sole proprietorship, Acuity Engineering.
Offer document, p.195, p.200 and p.202MKMihir Kumar PradhanPromoter, Chairman and Executive Director · holds 26.21%
Director since incorporation in August 2022, after joining the partnership firm in June 2022. Diploma and Post Diploma in Plastics Mould Technology from CIPET, Chennai (1997 and 1998); worked as an application engineer from May 2002 to February 2022, around 20 years. Chairs the board and oversees purchasing.
Offer document, p.195, p.201 and p.202VKVinod Kumar MariyappanPromoter and Whole-Time Director · holds 20.39%
Director since incorporation in August 2022 and a partner in the earlier firm from 2012; Whole-Time Director for five years from 18 March 2025. National Apprenticeship Certificate in tool and die making from NTTF, Bangalore, and NCVT certified in 2009, trained in CNC machining. Leads production and engineering.
Offer document, p.195, p.200 and p.202AKAniruddh KumarIndependent Director
On the board since March 2025. B.Tech in mechanical engineering from G. B. Pant University, Nainital (1979) and M.Tech from Avadh University (1991); Chartered Engineer. Served at BEML Limited from 2014 to 2017, last as Director (Rail and Metro).
Offer document, p.201 and p.202JAJayanthi Amarnath BhagathIndependent Director
On the board since March 2025. BBA and MBA from Annamalai University and a diploma in civil engineering. Worked with TATA Advanced Materials from 2011 to 2015, last as General Manager; founder and director of JBI Healthcare Private Limited. Around 14 years in aerospace and 8 in healthcare.
Offer document, p.201 to p.203KNKancharla Naga ShashidharChief Financial Officer
Chief Financial Officer since 18 March 2025. Qualified Chartered Accountant (2024); earlier in the accounts department of a Bangalore firm from June 2022 to March 2024.
Offer document, p.214; Annual report FY26, p.4Apsis Aerocom latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹17 cr (+78%), net profit ₹4.2 cr (+42%) on H2 FY25.
- 16 Sept 2026: an order announced.
Apsis Aerocom announcements
48 on record, latest first; each opens the filing on the exchange
- Integrated Filing- GovernanceNon-applicability of Regulation 27(2) as per Regulation 15 of Chapter IV of SEBI (LODR) Regulations, 2015 for the Quarter ended 30th September, 2026PDF ↗
- Integrated Filing- GovernanceInvestor Grievance Redressal Report as per Regulation 13 (3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015PDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- Shareholders meetingScrutinizers report of Annual General Meeting held on September 26, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- Shareholders meetingProceedings of 4th Annual General Meeting held on September 26, 2026PDF ↗
- General Updatesreceiving a Lifetime Contribution Award in Precision Engineering & Aerospace Manufacturing received from Economic Times Now Machinist Aerospace & Defence ManufaPDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Bagging/Receiving of orders/contractsBagging/Receiving of orders/contractsPDF ↗
- Copy of Newspaper PublicationCopy of Newspaper PublicationPDF ↗
- UpdatesRegulation 36(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015PDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 26, 2026PDF ↗
- Outcome of Board MeetingHeld on August 29, 2026PDF ↗
Apsis Aerocom annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 30 June 2026 ↗read
- 30 June 2026 ↗read
- 31 May 2026 ↗read
Apsis Aerocom share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Apsis Aerocom's data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,20,51,921 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY25 (₹67.50) and FY26 (₹8.40) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY23 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Apsis Aerocom
What does Apsis Aerocom do?
Apsis Aerocom machines high precision metal parts to each customer's own drawings, for makers of defence, aircraft and healthcare equipment, from two plants in Bengaluru. Its shares trade on NSE Emerge.
What is the share price of Apsis Aerocom?
₹468 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Apsis Aerocom?
₹564 cr at the close on 6 Nov 2026, on 1,20,51,921 shares.
What is the P/E of Apsis Aerocom?
75.1 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Apsis Aerocom's revenue and profit?
Revenue ₹31 cr and profit after tax ₹8 cr in FY26.
Who are the promoters of Apsis Aerocom?
Basavaraju Kanakatte Shivakumar, Mihir Kumar Pradhan, Vinod Kumar Mariyappan; promoters held 73.02% at 31 March 2026.
What was the IPO price of Apsis Aerocom?
₹110 a share; it listed on 18 March 2026.
What is Apsis Aerocom's website?
www.apsisaerocom.com
More SME companies like Apsis Aerocom
Other listed SME companies in aerospace & defense, the closest in size first, each read from its own documents.
- Digilogic SystemsDIGILOGIC · BSE SME · Aerospace & DefenseMarket cap ₹542 cr
- Shree RefrigerationsSHREEREF · BSE SME · Aerospace & DefenseMarket cap ₹1,058 cr
- C2C Advanced SystemsC2C · NSE Emerge · Aerospace & Defense · listed 2024Market cap ₹256 cr
- TechEra Engineering (India)TECHERA · NSE Emerge · Aerospace & Defense · listed 2024Market cap ₹202 cr
- Millworks TechnologiesMILLWORKS · BSE SME · Aerospace & DefenseMarket cap ₹1,799 cr
- Simca AdvertisingSIMCA · NSE Emerge · Media · listed 2026Market cap ₹585 cr
Every listed SME company in Aerospace & Defense → · SME companies listed in 2026 →
Built from 2 investor presentations, 2 annual reports, 1 offer document, 1 result filing, 1 earnings call transcript, 48 exchange announcements, 1 shareholding patterns and 4 years of reported results. Every figure carries its source; where the documents are silent, the page says so.