Astra Microwave Products Limited

NSE: ASTRAMICRO · Aerospace & Defense

52W Range₹851 ₹1,871

Snapshot

Unlock Astra Microwave Products Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Astra Microwave Products Limited designs, develops, and manufactures high-end radio frequency and microwave sub-systems for the defense, space, and telecommunication sectors. The company provides a comprehensive range of solutions including radar electronics, electronic warfare components, and strategic telemetry systems.

Business Model

The company generates revenue through the design and manufacture of complex sub-systems and components, alongside offering contract manufacturing and MMIC testing services. It serves both domestic and international clients across government and private aerospace and defense industries.

Growth Outlook

Growth is driven by increasing indigenisation requirements in the Indian defense sector and the rising demand for advanced radar and satellite communication technologies. The company is well-positioned to benefit from long-term strategic programs in space exploration and homeland security.

Key Risks

  • Geopolitical and Policy Risk. The company's revenue is heavily dependent on government defense spending and procurement policies, which can be subject to delays or shifts in strategic priorities.
  • Technological Obsolescence. Rapid advancements in microwave and radar technology require continuous R&D investment to maintain a competitive edge in the aerospace and defense market.
  • Supply Chain Dependency. Reliance on specialized components and raw materials, some of which may be imported, exposes the company to global supply chain disruptions and price volatility.
  • Project Execution Risk. The complexity of defense and space projects involves long gestation periods and stringent quality requirements, where delays can impact financial performance.

Price

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Key Metrics

REVENUE

₹1,163 Cr

TTM · consolidated

+10.6%YoY

NET PROFIT

₹193 Cr

TTM · consolidated

+25.7%YoY

EPS

₹20.32

TTM · consolidated

+25.7%YoY

RETURN ON EQUITY

16.7%

TTM · consolidated

+1.3 ppYoY

RETURN ON CAPITAL EMPLOYED

24.2%

TTM · consolidated

+1.0 ppYoY

P/E

84.7x

Q4 FY26 · consolidated

84.7 vs 209.5x5Y avg

EV/EBITDA

46.7x

Q4 FY26 · consolidated

46.7 vs 102.3x5Y avg

EBITDA MARGIN

30.3%

TTM · consolidated

+3.0 ppYoY

NET PROFIT MARGIN

21.7%

Q4 FY26 · consolidated

+3.7 ppYoY

DEBT TO EQUITY

0.2x

Q4 FY26 · consolidated

-0.17xYoY

Peers · Aerospace & Defense

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Astra Microwave Products LimitedASTRAMICRO
8,70084.7346.7310.6%30.3%16.7%24.2%+71.9%
MTAR Technologies LimitedMTARTECH
10,856208.11102.6529.6%22.2%12.5%17.6%+313.7%
AequsAEQUS
8,3027.0%
Apollo Micro Systems LimitedAPOLLO
7,149121.8365.4060.9%24.8%13.7%22.1%+122.1%
Axiscades Technologies Ltd.AXISCADES
6,06192.3034.4612.5%17.3%10.8%16.9%+14.3%
Mishra Dhatu Nigam LimitedMIDHANI
5,64658.7328.3612.5%22.8%9.1%9.2%-3.7%

As of Q4 FY26

Financials