Astra Microwave Products Ltd

₹ 193 1.69%
24 Jun - close price
About

Astra Microwave Products is engaged in the business of design, development and manufacture of sub-systems for Radio Frequency and microwave systems used in defense, space, meteorology and telecommunication.

Key Points

Order Book of 1694 Cr (February 12, 2021) [1]
Order Book of Rs. 1694 Cr - Export order 933 Cr, domestic orders 761 crore

  • Market Cap 1,670 Cr.
  • Current Price 193
  • High / Low 291 / 146
  • Stock P/E 41.5
  • Book Value 68.1
  • Dividend Yield 0.62 %
  • ROCE 11.1 %
  • ROE 7.01 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 31.82%
  • Debtor days have improved from 151.16 to 100.56 days.

Cons

  • Stock is trading at 2.83 times its book value
  • Promoter holding is low: 8.71%
  • Company has a low return on equity of 6.64% for last 3 years.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -4.19%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
30 109 150 173 97 105 149 238 120 177 199 239
34 76 111 157 93 102 134 193 99 166 173 210
Operating Profit -4 33 39 16 5 3 15 45 21 11 26 29
OPM % -12% 30% 26% 9% 5% 3% 10% 19% 18% 6% 13% 12%
1 3 2 7 3 1 1 7 1 3 1 2
Interest 2 2 2 3 3 5 5 13 5 5 5 4
Depreciation 6 6 6 6 6 6 6 6 5 5 6 6
Profit before tax -11 28 33 13 -2 -6 6 33 12 4 16 21
Tax % 32% 25% 29% 16% 45% 4% 11% 23% 20% 17% 26% 25%
Net Profit -7 21 23 11 -1 -6 6 25 10 3 12 16
EPS in Rs -0.85 2.39 2.66 1.25 -0.10 -0.71 0.65 2.92 1.12 0.34 1.40 1.80

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
156 195 220 523 623 407 391 357 286 462 589 735
114 134 156 434 512 306 285 245 253 372 523 648
Operating Profit 42 61 64 89 111 100 106 112 33 90 66 87
OPM % 27% 31% 29% 17% 18% 25% 27% 31% 12% 19% 11% 12%
2 3 7 8 6 8 6 8 24 12 12 7
Interest 7 8 7 12 15 14 15 15 13 14 24 20
Depreciation 12 12 13 15 22 24 24 27 29 25 23 22
Profit before tax 24 44 50 70 81 71 73 79 17 63 31 53
Tax % 24% 24% 26% 27% 25% 21% 17% 23% 25% 24% 24% 24%
Net Profit 19 33 37 51 61 56 60 61 13 47 24 40
EPS in Rs 2.27 4.06 4.55 6.22 7.42 6.51 6.95 7.01 1.45 5.47 2.76 4.65
Dividend Payout % 22% 17% 18% 18% 16% 18% 14% 17% 17% 22% 43% 30%
Compounded Sales Growth
10 Years: 14%
5 Years: 13%
3 Years: 37%
TTM: 25%
Compounded Profit Growth
10 Years: 2%
5 Years: -7%
3 Years: 95%
TTM: 68%
Stock Price CAGR
10 Years: 17%
5 Years: 7%
3 Years: 31%
1 Year: 12%
Return on Equity
10 Years: 11%
5 Years: 7%
3 Years: 7%
Last Year: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
16 16 16 16 16 17 17 17 17 17 17 17
Reserves 128 155 185 225 274 380 434 484 486 530 543 572
34 59 46 61 89 67 131 94 14 52 100 60
86 76 252 259 102 82 63 78 96 258 255 308
Total Liabilities 265 306 499 561 481 547 645 674 613 857 915 958
90 89 108 126 139 135 148 193 176 158 151 158
CWIP -0 -0 -0 -0 -0 1 37 1 2 12 -0 0
Investments 2 -0 24 2 0 3 63 131 44 37 50 37
173 217 367 433 341 407 397 349 390 650 715 764
Total Assets 265 306 499 561 481 547 645 674 613 857 915 958

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
30 8 114 -29 -2 60 21 174 2 -5 -12 101
-7 -9 -47 -12 -27 -21 -126 -95 84 -27 -4 -27
-19 15 -24 0 9 22 41 -59 -99 32 23 -67
Net Cash Flow 3 15 43 -40 -20 61 -64 21 -14 0 7 7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 191 164 238 92 66 159 205 192 242 196 157 101
Inventory Days 259 366 268 153 113 199 242 255 299 309 254 280
Days Payable -0 67 121 231 56 67 37 34 51 52 31 37
Cash Conversion Cycle 450 462 385 14 122 291 410 413 489 452 380 344
Working Capital Days 156 193 4 75 125 217 285 174 312 253 254 202
ROCE % 18% 24% 24% 30% 28% 20% 16% 16% 4% 13% 9% 11%

Shareholding Pattern

Numbers in percentages

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
12.84 12.83 9.88 10.05 10.05 10.03 9.80 8.98 8.87 8.71 8.71 8.71
1.87 1.87 1.85 1.30 0.48 0.59 0.98 1.04 1.01 1.45 1.43 1.82
13.52 13.41 11.96 11.19 10.85 8.94 8.02 4.95 3.30 1.68 0.58 0.29
71.77 71.89 76.31 77.45 78.62 80.45 81.20 85.03 86.82 88.16 89.28 89.18

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