Astra Microwave Products Ltd

₹ 215 0.37%
Jan 27 10:29 a.m.
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 1,864 Cr.
  • Current Price 215
  • High / Low 291 / 108
  • Stock P/E 42.9
  • Book Value 65.0
  • Dividend Yield 0.55 %
  • ROCE 8.73 %
  • ROE 4.32 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 27.55%

Cons

  • Stock is trading at 3.30 times its book value
  • Promoter holding is low: 8.71%
  • Company has a low return on equity of 4.74% for last 3 years.
  • Company has high debtors of 157.26 days.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -4.26%

* 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.

Loading peers table ...

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
74.89 113.23 30.26 108.74 150.03 172.54 97.37 104.69 148.96 238.13 120.20 176.82
65.75 93.32 33.91 75.89 111.22 156.76 92.67 101.54 133.60 194.69 99.15 166.17
Operating Profit 9.14 19.91 -3.65 32.85 38.81 15.78 4.70 3.15 15.36 43.44 21.05 10.65
OPM % 12.20% 17.58% -12.06% 30.21% 25.87% 9.15% 4.83% 3.01% 10.31% 18.24% 17.51% 6.02%
Other Income 2.57 2.51 0.86 2.78 1.86 6.58 2.57 0.85 1.40 6.84 1.10 2.79
Interest 1.47 3.20 1.82 1.55 1.59 2.93 3.13 4.63 4.65 11.47 5.27 4.96
Depreciation 7.20 7.42 6.09 6.30 6.46 6.47 5.66 5.77 5.80 5.83 4.74 4.96
Profit before tax 3.04 11.80 -10.70 27.78 32.62 12.96 -1.52 -6.40 6.31 32.98 12.14 3.52
Tax % 39.47% 37.71% 31.59% 25.38% 29.28% 16.20% 45.39% 4.38% 11.25% 23.29% 20.43% 16.76%
Net Profit 1.84 7.35 -7.32 20.73 23.07 10.86 -0.83 -6.12 5.59 25.30 9.66 2.93
EPS in Rs 0.21 0.85 -0.85 2.39 2.66 1.25 -0.10 -0.71 0.65 2.92 1.12 0.34

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
103 156 195 220 523 623 407 391 357 286 462 589 684
79 114 134 156 434 512 306 285 245 253 372 523 594
Operating Profit 24 42 61 64 89 111 100 106 112 33 90 66 90
OPM % 24% 27% 31% 29% 17% 18% 25% 27% 31% 12% 19% 11% 13%
Other Income 2 2 3 7 8 6 8 6 8 24 12 12 12
Interest 4 7 8 7 12 15 14 15 15 13 14 24 26
Depreciation 11 12 12 13 15 22 24 24 27 29 25 23 21
Profit before tax 11 24 44 50 70 81 71 73 79 17 63 31 55
Tax % 35% 24% 24% 26% 27% 25% 21% 17% 23% 25% 24% 24%
Net Profit 7 19 33 37 51 61 56 60 61 13 47 24 43
EPS in Rs 0.88 2.27 4.06 4.55 6.22 7.42 6.51 6.95 7.01 1.45 5.47 2.76 5.03
Dividend Payout % 38% 22% 17% 18% 18% 16% 18% 14% 17% 17% 22% 43%
Compounded Sales Growth
10 Years: 14%
5 Years: 8%
3 Years: 18%
TTM: 30%
Compounded Profit Growth
10 Years: 3%
5 Years: -16%
3 Years: -26%
TTM: 61%
Stock Price CAGR
10 Years: 19%
5 Years: 12%
3 Years: 39%
1 Year: 83%
Return on Equity
10 Years: 12%
5 Years: 8%
3 Years: 5%
Last Year: 4%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
11 16 16 16 16 16 17 17 17 17 17 17 17
Reserves 117 128 155 185 225 274 380 434 484 486 530 543 546
Borrowings 46 34 59 46 61 89 67 131 94 14 52 100 85
86 86 76 252 259 102 82 63 78 96 258 255 241
Total Liabilities 260 265 306 499 561 481 547 645 674 613 857 915 888
95 90 89 108 126 139 135 148 193 176 158 151 145
CWIP 0 0 0 0 0 0 1 37 1 2 12 0 3
Investments 2 2 0 24 2 0 3 63 131 44 37 50 36
163 173 217 367 433 341 407 397 349 390 650 715 705
Total Assets 260 265 306 499 561 481 547 645 674 613 857 915 888

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
3 30 8 114 -29 -2 60 21 174 2 -5 -12
-12 -7 -9 -47 -12 -27 -21 -126 -95 84 -27 -4
3 -19 15 -24 0 9 22 41 -59 -99 32 23
Net Cash Flow -6 3 15 43 -40 -20 61 -64 21 -14 0 7

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 293 191 164 238 92 66 159 205 192 242 196 157
Inventory Days 354 259 366 268 153 113 199 242 255 299 309 254
Days Payable 97 0 67 121 231 56 67 37 34 51 52 31
Cash Conversion Cycle 550 450 462 385 14 122 291 410 413 489 452 380
Working Capital Days 219 171 203 12 82 131 227 291 235 325 257 254
ROCE % 9% 18% 24% 24% 30% 28% 20% 16% 16% 4% 13% 9%

Shareholding Pattern

Numbers in percentages

Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021
12.90 12.84 12.83 9.88 10.05 10.05 10.03 9.80 8.98 8.87 8.71 8.71
1.47 1.87 1.87 1.85 1.30 0.48 0.59 0.98 1.04 1.01 1.45 1.43
13.45 13.52 13.41 11.96 11.19 10.85 8.94 8.02 4.95 3.30 1.68 0.58
72.18 71.77 71.89 76.31 77.45 78.62 80.45 81.20 85.03 86.82 88.16 89.28

Documents