Small cap Aerospace & Defence company Apollo Micro Systems Limited on Sept 23, 2023, informed that it has signed multiple agreements with the Defence Research and Development Organisation (DRDO). These agreements represent significant advances in our business operations and demonstrate our steadfast commitment to improving our partnership with DRDO.
These agreements mark a significant milestone in our ongoing partnership with DRDO and signify our commitment to excellence in technology and innovation in defence-related projects, the company stated in the filing.
Small cap Aerospace & Defence Enters Into Agreements With DRDO
The details of these agreements are as follows:
1. Transfer of Technology (ToT) Agreement for Guidance and Navigation Technology: This agreement pertains to significant technology which has immense potential in both domestic and international markets. The technology is used to convert conventional non guided weapons to Guided Weapon. The company has been working closely with DRDO on this technology and has now been selected as a ToT Partner through a Licensing Agreement for Transfer of Technology.
2. ToT Agreement for Weaponization of Hand-Held Thermal Imager with LRF (WHHTI): This cutting-edge technology involves the weaponization of a Hand-Held Thermal Imager with Laser Range Finder (LRF). WHHTI is state of art weaponization platform featuring an Electro-Optical System which not only meets the requirement of monitoring of border area/ sensitive area but also intends to provide remotely operated counter measure to neutralize the threat under all conditions. The system has capability of surveillance and engagement of potential threats remotely. Its technical features are enhancement of existing HHTI’s role, observation & engagement with soldier in protected location & Soldier stays in controlled environment increasing the operational efficiency. The system eliminates the need of two soldiers to carry out surveillance and threat neutralizing activities thus reducing the chances of miscommunication or human error.
3. ToT Agreement for Rotary Electro Mechanical Actuator: This agreement represents the Company’s collaboration with DRDO in developing Linear and Rotary Electro Mechanical Actuators for various capacities. The Company has now been selected as a ToT Partner through a Licensing Agreement for the Transfer of Technology.
4. ToT Agreement for Unified Avionics Computer: The Unified Avionics Computer is a complex On-Board subsystem which plays a critical role in the Weapon and has all control guidance and navigational algorithms. The company has been working closely with DRDO on this technology and it has now been selected as a ToT Partner through a Licensing Agreement for Transfer of Technology.
Meanwhile, the stock on Friday closed 0.61% lower at Rs 53.88 apiece on the BSE. Its 52-week high is Rs 63.58 apiece and 52-week low is Rs 15.04 apiece. The stock has fallen 1.68% in 1 week, and 5.09% in 1 month. It gave 93.46% robust return in 6 months. It gave 215.27% multi-bagger return in 1 year. It gave 362.89% positive return in 2 years, 371.80% in 3 years, and 309.73% in 5 years, respectively. Its market cap is Rs 1,249.87 Crore.