Aerospace & Defense
Valuation | |
|---|---|
| Market Cap | 8.69 kCr |
| Price/Earnings (Trailing) | 53.93 |
| Price/Sales (Trailing) | 7.88 |
| EV/EBITDA | 28.97 |
| Price/Free Cashflow | -562.44 |
| MarketCap/EBT | 42.63 |
| Enterprise Value | 8.87 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | -3.5% |
| Price Change 1M | -7.2% |
| Price Change 6M | -9.1% |
| Price Change 1Y | 30.3% |
| 3Y Cumulative Return | 50% |
| 5Y Cumulative Return | 50.2% |
| 7Y Cumulative Return | 42.7% |
| 10Y Cumulative Return | 23.6% |
| Revenue (TTM) |
| 1.1 kCr |
| Rev. Growth (Yr) | -4.9% |
| Earnings (TTM) | 161.09 Cr |
| Earnings Growth (Yr) | -5.9% |
Profitability | |
|---|---|
| Operating Margin | 18% |
| EBT Margin | 18% |
| Return on Equity | 13.86% |
| Return on Assets | 9.12% |
| Free Cashflow Yield | -0.18% |
Cash Flow & Liquidity |
|---|
| Cash Flow from Investing (TTM) | 76.32 Cr |
| Cash Flow from Operations (TTM) | -90.15 Cr |
| Cash Flow from Financing (TTM) | -51.5 Cr |
| Cash & Equivalents | 101.48 Cr |
| Free Cash Flow (TTM) | -17.86 Cr |
| Free Cash Flow/Share (TTM) | -1.88 |
Balance Sheet | |
|---|---|
| Total Assets | 1.77 kCr |
| Total Liabilities | 603.62 Cr |
| Shareholder Equity | 1.16 kCr |
| Current Assets | 1.47 kCr |
| Current Liabilities | 466.91 Cr |
| Net PPE | 220.78 Cr |
| Inventory | 617.61 Cr |
| Goodwill | 0.00 |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.16 |
| Debt/Equity | 0.24 |
| Interest Coverage | 2.28 |
| Interest/Cashflow Ops | -0.47 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 2.2 |
| Dividend Yield | 0.24% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 9.6% |
Profitability: Recent profitability of 15% is a good sign.
Size: Market Cap wise it is among the top 20% companies of india.
Balance Sheet: Strong Balance Sheet.
Past Returns: Outperforming stock! In past three years, the stock has provided 50% return compared to 13.2% by NIFTY 50.
Smart Money: Smart money has been increasing their position in the stock.
Technicals: SharesGuru indicator is Bearish.
Momentum: Stock is suffering a negative price momentum. Stock is down -7.2% in last 30 days.
Profitability: Recent profitability of 15% is a good sign.
Size: Market Cap wise it is among the top 20% companies of india.
Balance Sheet: Strong Balance Sheet.
Past Returns: Outperforming stock! In past three years, the stock has provided 50% return compared to 13.2% by NIFTY 50.
Smart Money: Smart money has been increasing their position in the stock.
Technicals: SharesGuru indicator is Bearish.
Momentum: Stock is suffering a negative price momentum. Stock is down -7.2% in last 30 days.
Investor Care | |
|---|---|
| Dividend Yield | 0.24% |
| Dividend/Share (TTM) | 2.2 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 16.97 |
Financial Health | |
|---|---|
| Current Ratio | 3.15 |
| Debt/Equity | 0.24 |
Technical Indicators | |
|---|---|
| RSI (14d) | 51.86 |
| RSI (5d) | 28.41 |
| RSI (21d) | 37.73 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Sell |
| RSI Signal | Hold |
| RSI5 Signal | Buy |
| RSI21 Signal | Hold |
| SMA 5 Signal | Sell |
| SMA 10 Signal |
Summary of Astra Microwave Products's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
In the recent conference call on November 13, 2025, management provided an optimistic outlook for Astra Microwave Products Limited, emphasizing a strong performance, robust order book, and future growth aspirations. As of September 30, 2025, the standalone order book stood at INR 1,916 crores, and on a consolidated basis at INR 2,209 crores, indicating significant revenue visibility for upcoming quarters.
Key financial metrics for Q2 FY '26 included standalone revenue of INR 213 crores, EBITDA of INR 46 crores (margin of 21.7%), and profit after tax of INR 21 crores. For the half-year period, revenue reached INR 410 crores, a 7.2% year-on-year increase, with an EBITDA margin of 20.6%. The management highlighted successful major product deliveries including modules for defense radars and an order for refurbishment of electronics for long-range radar, which is anticipated to generate further opportunities.
Management discussed ambitious projections: they aim to double turnover over the next 3 to 4 years to around INR 2,100 crores and target revenues of INR 1,400-1,500 crores in FY '27, INR 1,650 crores in FY '28, and nearly INR 2,000 crores by FY '29, ultimately aspiring to reach revenue of INR 2,250-2,500 crores by FY '30. They emphasized that much of this growth would be back-ended, starting to materialize predominantly in FY '27 and '28.
Additionally, the company plans to leverage its existing technological capabilities and has outlined a vision to become a $1 billion revenue company in the long term, with sustained efforts to expand into global markets, primarily focusing on products that align with contemporary defense needs. This strategic outlook encapsulates a commitment to delivering cutting-edge systems while navigating the evolving defense landscape.
Understand Astra Microwave Products ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| RATNABALI INVESTMENT PRIVATE LIMITED | 6.3% |
| EMERALD COMPANY PRIVATE LIMITED | 5.37% |
| HDFC MUTUAL FUND - HDFC DEFENCE FUND | 4.34% |
| ATIM KABRA | 3.53% |
| PRAKASH ANAND CHITRAKAR | 3.41% |
| RENUKA CHITRAKAR | 3.12% |
| ADVENTZ FINANCE PRIVATE LIMITED | 2.9% |
Detailed comparison of Astra Microwave Products against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| BEL | Bharat Electronics | 3.2 LCr | 27.19 kCr | +4.40% | +59.90% | 53.59 | 11.76 | - | - |
| DATAPATTNS | Data Patterns (India) | 15.9 kCr | 1.01 kCr |
Comprehensive comparison against sector averages
ASTRAMICRO metrics compared to Aerospace
| Category | ASTRAMICRO | Aerospace |
|---|---|---|
| PE | 53.97 | 45.29 |
| PS | 7.89 | 9.29 |
| Growth | 12.4 % | 11 % |
Astra Microwave Products is an Aerospace & Defense company based in Hyderabad, India. The company operates under the stock ticker ASTRAMICRO and has a market capitalization of Rs. 7,729.5 Crores.
Astra Microwave specializes in the design, development, manufacturing, and sale of sub-systems for radio frequency and microwave systems. Their products cater to a range of applications, including defense, space, meteorology, and telecommunications.
Their offerings include:
Radar Electronics:
Electronic Warfare:
Strategic Electronics and Telemetry:
Ground-Based Systems:
In addition, they produce systems for homeland security, unmanned ground vehicles, and meteorological solutions, including automatic weather stations and weather radars. The company exports a significant portion of its products.
Founded in 1991, Astra Microwave Products has reported a trailing revenue of Rs. 1,006.5 Crores and has shown profitability with a profit of Rs. 134.4 Crores in the last four quarters. Over the past three years, the company has achieved a 30.3% growth in revenue.
Investors can enjoy dividends, with a yield of 0.32% per year, and a recent distribution of Rs. 2 per share. However, it is worth noting that the company has diluted its shareholder holdings by 9.6% in the last three years.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Sell |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
ASTRAMICRO vs Aerospace (2021 - 2026)
Question 1: "What kind of strategy do you have to penetrate export markets, particularly with products like Uttam radars and the EW Suite for Su-30?"
Answer: Our strategy for export markets involves identifying and collaborating with potential partners already established in that space. We aim to create complete solutions tailored to the specific needs of international clients, ensuring our products are fully tested and competitive. We believe that collaboration, not just distribution, will enhance our market penetration and enable us to offer comprehensive, proven solutions.
Question 2: "What kind of working capital days or cash conversion cycle are you looking at by the end of FY '26?"
Answer: We expect a positive trend in our working capital days due to successful closures of long-pending receivables. While I can't provide a specific number, we are optimistic that our cash flow position will continue to improve significantly as we advance through this financial year.
Question 3: "Could you elaborate on your company's current capabilities and what additional systems you plan to develop in electronic warfare (EW)?"
Answer: We have established a solid foundation in EW over the past 20 years, focusing on components, subsystems, and now full systems for airborne platforms. We're also ramping up our capabilities for naval applications and improving subsystems through collaboration with DRDO, positioning us to deliver sophisticated EW solutions across various platforms.
Question 4: "What are your FY '26 revenue guidance and current margin expectations?"
Answer: Our guidance for FY '26 revenue stands between INR 1,150 crores to INR 1,200 crores. We anticipate maintaining our current EBITDA margins, aiming for around 45% to 50%, consistent with historical performance. Our focus is also on longer-term growth beyond this financial year.
Question 5: "What is the current status of the S-Band naval radar and seeker trials, and are there any upcoming orders?"
Answer: Most tests for the seeker have been completed, and we're expecting repeat orders soon, with at least 20 units projected to be delivered by March '26. The S-Band naval radar is progressing well; we anticipate making further advancements and receiving orders approaching 100 units annually in the future.
Question 6: "How does your order book status look for Astra Rafael Comsys System Private Limited?"
Answer: As of 30 September, the order book stands at approximately INR 336 crores. We anticipate this could grow to between INR 800 to 850 crores in the next 6-7 months, indicating robust execution and pipeline potential for the unit.
Question 7: "Can you discuss the reasons for the recent improvement in gross margin and the increase in other expenses?"
Answer: The improvement in gross margin is primarily due to our favorable product mix in recent sales. On the other hand, the rise in other expenses can be attributed to contractual obligations with suppliers for equipment maintenance, alongside CSR expenditures incurred during the quarter, which were both significant factors in elevating our other expenditure.
| MOUNT INTRA FINANCE PRIVATE LIMITED | 2.51% |
| TEXMACO INFRASTRUCTURE & HOLDINGS LIMITED | 2.27% |
| GENESIS ADVERTISING PRIVATE LIMITED | 2.04% |
| STRATEGIC VENTURES LIMITED | 1.76% |
| KOTAK LARGE & MIDCAP FUND | 1.56% |
| TATA AIA LIFE INSURANCE CO LTD-WHOLE LIFE MID CAP EQUITY FUND-ULIF 009 04/01/07 WLE 110 | 1.34% |
| MOTILAL OSWAL NIFTY INDIA DEFENCE INDEX FUND | 1.21% |
Distribution across major stakeholders
Distribution across major institutional holders
| +7.20% |
| +51.90% |
| 64.35 |
| 15.76 |
| - |
| - |
| PARAS | Paras Defence and Space Tech | 5.36 kCr | 424.47 Cr | -2.10% | +30.20% | 73.06 | 12.64 | - | - |
| AVANTEL | Avantel | 3.99 kCr | 210.16 Cr | -3.90% | +18.40% | 242.48 | 18.99 | - | - |
| CENTUM | Centum Electronics | 3.65 kCr | 1.23 kCr | +18.40% | +35.70% | 224.5 | 2.95 | - | - |
| 52.6% |
| 30 |
| 20 |
| 100 |
| 54 |
| 33 |
| 7.47 |
| Total profit before tax | 52.6% | 30 | 20 | 100 | 54 | 33 | 7.47 |
| Current tax | 79.1% | 9.81 | 5.92 | 26 | 14 | 7.43 | 3.03 |
| Deferred tax | -9.9% | -1.33 | -1.12 | -0.03 | 0.48 | 0.88 | -0.89 |
| Total tax | 96.8% | 8.48 | 4.8 | 26 | 14 | 8.31 | 2.15 |
| Total profit (loss) for period | 53.3% | 24 | 16 | 73 | 47 | 25 | 7.2 |
| Other comp. income net of taxes | -277.5% | 0.29 | 1.4 | -3.54 | 0.51 | 1 | -0.21 |
| Total Comprehensive Income | 35.3% | 24 | 18 | 70 | 48 | 26 | 6.99 |
| Earnings Per Share, Basic | 114.1% | 2.52 | 1.71 | 7.74 | 5 | 2.67 | 0.76 |
| Earnings Per Share, Diluted | 112.7% | 2.51 | 1.71 | 7.74 | 5 | 2.67 | 0.76 |
| 56 |
| 30 |
| 29 |
| 20 |
| 21 |
| 7.89 |
| Depreciation and Amortization | 41.7% | 35 | 25 | 23 | 22 | 23 | 25 |
| Other expenses | 11.1% | 61 | 55 | 52 | 51 | 42 | 45 |
| Total Expenses | 13.6% | 869 | 765 | 710 | 690 | 569 | 411 |
| Profit Before exceptional items and Tax | 27.2% | 193 | 152 | 103 | 53 | 31 | 63 |
| Total profit before tax | 27.2% | 193 | 152 | 103 | 53 | 31 | 63 |
| Current tax | 25.6% | 50 | 40 | 28 | 16 | 9.61 | 20 |
| Deferred tax | 64.2% | 0.27 | -1.04 | -1.56 | -3.57 | -2.18 | -4.68 |
| Total tax | 28.9% | 50 | 39 | 26 | 12 | 7.43 | 15 |
| Total profit (loss) for period | 26.8% | 143 | 113 | 77 | 40 | 24 | 47 |
| Other comp. income net of taxes | -82.5% | -2.34 | -0.83 | -1.18 | -0.72 | 0.14 | -0.84 |
| Total Comprehensive Income | 26.1% | 141 | 112 | 75 | 40 | 24 | 46 |
| Earnings Per Share, Basic | 28.2% | 15.1 | 12 | 8.85 | 4.65 | 2.76 | 5.466 |
| Earnings Per Share, Diluted | 28.2% | 15.1 | 12 | 8.85 | 4.65 | 2.76 | 5.466 |
| Debt equity ratio | - | - | - | - | - | - | - |
| Debt service coverage ratio | - | - | - | - | - | - | - |
| - |
| 1.41 |
| 0 |
| 21 |
| 13 |
| 6.65 |
| 1.99 |
| Investment property | - | 0 | 0 | 0 | 0 | 0 | 0 |
| Non-current investments | 2.7% | 39 | 38 | 39 | 0 | 38 | 37 |
| Total non-current financial assets | -2.1% | 47 | 48 | 50 | 8.66 | 42 | 43 |
| Total non-current assets | -1% | 290 | 293 | 278 | 249 | 240 | 228 |
| Total assets | -4.9% | 1,744 | 1,833 | 1,599 | 1,466 | 1,177 | 1,047 |
| Borrowings, non-current | -15.8% | 33 | 39 | 31 | 15 | 0 | 3.33 |
| Total non-current financial liabilities | -15.8% | 33 | 39 | 31 | 15 | 0 | 3.33 |
| Provisions, non-current | -7.1% | 14 | 15 | 9.67 | 9.71 | 5.67 | 6.09 |
| Total non-current liabilities | 26.2% | 136 | 108 | 111 | 73 | 59 | 77 |
| Borrowings, current | -36.8% | 240 | 379 | 269 | 211 | 56 | 166 |
| Total current financial liabilities | -29.8% | 338 | 481 | 378 | 320 | 116 | 237 |
| Provisions, current | -5.5% | 4.75 | 4.97 | 3.55 | 3.92 | 3.93 | 4.03 |
| Current tax liabilities | -100.2% | 0.98 | 12 | 0 | 1.12 | 1.81 | 3.66 |
| Total current liabilities | -27.6% | 461 | 636 | 509 | 424 | 241 | 316 |
| Total liabilities | -19.7% | 597 | 743 | 620 | 498 | 300 | 394 |
| Equity share capital | 0% | 19 | 19 | 19 | 19 | 19 | 17 |
| Total equity | 5.3% | 1,148 | 1,090 | 980 | 968 | 877 | 653 |
| Total equity and liabilities | -4.9% | 1,744 | 1,833 | 1,599 | 1,466 | 1,177 | 1,047 |
| -213.2% |
| -40.87 |
| 38 |
| 26 |
| 20 |
| - |
| - |
| Other inflows (outflows) of cash | -788.8% | -17.22 | -1.05 | 0 | 0 | - | - |
| Net Cashflows From Operating Activities | 96.8% | -4.96 | -187.43 | -21.77 | 83 | - | - |
| Cash receipts from share of profits of partnership firm or association of persons or LLP | - | -0.12 | 0 | 0 | 0 | - | - |
| Proceeds from sales of PPE | 90.6% | 0.01 | -9.48 | 0.23 | 0.06 | - | - |
| Purchase of property, plant and equipment | -266.6% | -68.99 | 43 | 33 | 28 | - | - |
| Proceeds from sales of investment property | - | 0 | 0 | 0 | 15 | - | - |
| Purchase of intangible assets | -53.1% | -6.38 | -3.82 | 0.55 | 0 | - | - |
| Proceeds from sales of long-term assets | - | 0 | 0 | 0 | 1.54 | - | - |
| Interest received | 161.5% | 6.12 | -7.33 | 2.9 | 0 | - | - |
| Other inflows (outflows) of cash | -151.3% | -5.16 | 13 | 2.55 | 2.89 | - | - |
| Net Cashflows From Investing Activities | 269.4% | 76 | -43.28 | -28 | -8.71 | - | - |
| Proceeds from issuing shares | -100.4% | 0 | 225 | 0 | 0 | - | - |
| Proceeds from borrowings | -203.1% | -827.74 | 805 | 325 | 919 | - | - |
| Repayments of borrowings | -183.1% | -626.15 | 756 | 218 | 960 | - | - |
| Dividends paid | -243.3% | -19.06 | 15 | 12 | 10 | - | - |
| Interest paid | -358.7% | -40.39 | 17 | 19 | 16 | - | - |
| Other inflows (outflows) of cash | 612.2% | 41 | -6.81 | 0 | 0 | - | - |
| Net Cashflows from Financing Activities | -143.9% | -101.21 | 234 | 76 | -66.74 | - | - |
| Net change in cash and cash eq. | -1411.4% | -29.95 | 3.36 | 26 | 7.21 | - | - |