DAC approval delays for underwater mine order
The ₹2,500 crore order is pending DAC approval; any delay could impact revenue visibility.
APOLLO / Q3-FY26 / risks
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Apollo Micro Systems · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Margin dilution from IDL consolidation
IDL reported a loss of ₹4 crore in 45 days; management expects EBITDA breakeven only by Q4, with PAT positive from next year.
Shareholder rejection of related party transaction resolution
Resolution for corporate guarantees to subsidiaries was defeated by institutional shareholders, potentially impacting subsidiary support.
High COGS levels due to R&D-heavy project mix
Material costs remain around 70% of revenue; improvement expected only when large-scale production orders kick in.