Astra Microwave Products Ltd
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.
- Market Cap ₹ 16,211 Cr.
- Current Price ₹ 1,706
- High / Low ₹ 1,960 / 836
- Stock P/E 92.8
- Book Value ₹ 136
- Dividend Yield 0.14 %
- ROCE 19.5 %
- ROE 14.9 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company has delivered good profit growth of 49.3% CAGR over last 5 years
Cons
- Stock is trading at 12.6 times its book value
- Promoter holding is low: 6.54%
- Company has high debtors of 217 days.
* 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.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 623 | 407 | 391 | 357 | 286 | 462 | 589 | 735 | 807 | 904 | 1,044 | 1,156 | 1,135 | |
| 512 | 306 | 285 | 245 | 253 | 372 | 523 | 648 | 657 | 710 | 778 | 831 | 815 | |
| Operating Profit | 111 | 100 | 106 | 112 | 33 | 90 | 66 | 87 | 150 | 194 | 267 | 325 | 319 |
| OPM % | 18% | 25% | 27% | 31% | 12% | 19% | 11% | 12% | 19% | 21% | 26% | 28% | 28% |
| 6 | 8 | 6 | 8 | 24 | 12 | 12 | 7 | 6 | 12 | 18 | 19 | 19 | |
| Interest | 15 | 14 | 15 | 15 | 13 | 14 | 24 | 20 | 29 | 30 | 57 | 55 | 51 |
| Depreciation | 22 | 24 | 24 | 27 | 29 | 25 | 23 | 22 | 23 | 25 | 35 | 43 | 45 |
| Profit before tax | 81 | 71 | 73 | 79 | 17 | 63 | 31 | 53 | 103 | 152 | 193 | 245 | 241 |
| Tax % | 25% | 21% | 17% | 23% | 25% | 24% | 24% | 24% | 26% | 25% | 26% | 27% | |
| 61 | 56 | 60 | 61 | 13 | 47 | 24 | 40 | 77 | 113 | 143 | 178 | 175 | |
| EPS in Rs | 7.42 | 6.51 | 6.95 | 7.01 | 1.45 | 5.47 | 2.76 | 4.65 | 8.85 | 11.90 | 15.10 | 18.73 | 18.40 |
| Dividend Payout % | 16% | 18% | 14% | 17% | 17% | 22% | 43% | 30% | 18% | 17% | 15% | 13% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 14% |
| 3 Years: | 13% |
| TTM: | 4% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 49% |
| 3 Years: | 32% |
| TTM: | 16% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 31% |
| 5 Years: | 58% |
| 3 Years: | 59% |
| 1 Year: | 70% |
| Return on Equity | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 13% |
| 3 Years: | 14% |
| Last Year: | 15% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 16 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 19 | 19 | 19 |
| Reserves | 274 | 380 | 434 | 484 | 486 | 530 | 543 | 572 | 636 | 949 | 1,071 | 1,272 |
| 89 | 67 | 131 | 94 | 14 | 52 | 100 | 60 | 170 | 227 | 419 | 288 | |
| 102 | 82 | 63 | 78 | 96 | 258 | 255 | 308 | 224 | 271 | 325 | 382 | |
| Total Liabilities | 481 | 547 | 645 | 674 | 613 | 857 | 915 | 958 | 1,047 | 1,466 | 1,833 | 1,961 |
| 139 | 135 | 148 | 193 | 176 | 158 | 151 | 158 | 165 | 169 | 228 | 262 | |
| CWIP | 0 | 1 | 37 | 1 | 2 | 12 | 0 | 0 | 2 | 13 | 0 | 9 |
| Investments | 0 | 3 | 63 | 131 | 44 | 37 | 50 | 37 | 37 | 38 | 38 | 48 |
| 341 | 407 | 397 | 349 | 390 | 650 | 715 | 764 | 842 | 1,246 | 1,568 | 1,641 | |
| Total Assets | 481 | 547 | 645 | 674 | 613 | 857 | 915 | 958 | 1,047 | 1,466 | 1,833 | 1,961 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -2 | 60 | 21 | 174 | 2 | -27 | -12 | 101 | -22 | -187 | -99 | 376 | |
| -27 | -21 | -126 | -95 | 84 | -5 | -4 | -27 | -28 | -43 | -73 | -86 | |
| 9 | 22 | 41 | -59 | -99 | 32 | 23 | -67 | 76 | 234 | 142 | -196 | |
| Net Cash Flow | -20 | 61 | -64 | 21 | -14 | 0 | 7 | 7 | 26 | 3 | -30 | 94 |
| Free Cash Flow | -35 | 38 | -51 | 141 | -11 | -44 | -15 | 73 | -55 | -235 | -174 | 294 |
| CFO/OP | -2% | 59% | 35% | 168% | 39% | -10% | -7% | 138% | 3% | -77% | -22% | 138% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 66 | 159 | 205 | 192 | 242 | 196 | 157 | 101 | 127 | 203 | 274 | 217 |
| Inventory Days | 113 | 199 | 242 | 255 | 299 | 309 | 254 | 280 | 279 | 335 | 379 | 378 |
| Days Payable | 56 | 67 | 37 | 34 | 51 | 52 | 31 | 37 | 31 | 58 | 47 | 72 |
| Cash Conversion Cycle | 122 | 291 | 410 | 413 | 489 | 452 | 380 | 344 | 375 | 479 | 605 | 523 |
| Working Capital Days | 97 | 217 | 231 | 153 | 312 | 216 | 192 | 174 | 180 | 269 | 284 | 266 |
| ROCE % | 28% | 20% | 16% | 16% | 4% | 13% | 9% | 11% | 18% | 18% | 18% | 19% |
Insights
In beta| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| R&D Expenditure Rs. Cr |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Credit Rating
- CRISIL upgraded long-term and corporate ratings to A+/Stable, reaffirmed A1 short-term rating on August 31, 2026.
- Announcement under Regulation 30 (LODR)-Newspaper Publication
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Letter To Shareholders In Relation To Notice And Annual Report
Of The Company For FY 2025-26
- 35th AGM scheduled for 18 September 2026; annual report link shared with shareholders.
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Business Responsibility and Sustainability Reporting (BRSR)
- Submitted BRSR report for FY 2025-26 as part of annual report.
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Reg. 34 (1) Annual Report.
- Submitted FY26 annual report; AGM scheduled for 18 September 2026 at 3:00 PM via VC.
Annual reports
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Annual Report 2026
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Annual Report 2015
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Annual Report 2014
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Annual Report 2013
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Annual Report 2012
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Concalls
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Aug 2026Transcript PPT REC
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Jun 2026Transcript PPT REC
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT
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Aug 2025Transcript PPT
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May 2025Transcript PPT
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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Jun 2023Transcript PPT
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Feb 2023Transcript PPT
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Jan 2023TranscriptAI SummaryPPT
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Nov 2022Transcript PPT
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Nov 2022TranscriptAI SummaryPPT
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Aug 2022Transcript PPT
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Aug 2022TranscriptAI SummaryPPT
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Jun 2022Transcript PPT
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Feb 2022Transcript PPT
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Jan 2022TranscriptAI SummaryPPT
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Nov 2021TranscriptPPT
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Jun 2021TranscriptPPT
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Feb 2021TranscriptPPT
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Nov 2020TranscriptPPT
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Feb 2020TranscriptPPT
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Nov 2019TranscriptPPT
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Aug 2019TranscriptPPT
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May 2019TranscriptPPT
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Feb 2019TranscriptPPT
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Nov 2018TranscriptPPT
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Aug 2018TranscriptPPT
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Jun 2018TranscriptPPT
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Feb 2018TranscriptPPT
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Nov 2017TranscriptPPT
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Aug 2017TranscriptPPT
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May 2017TranscriptPPT
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Nov 2016TranscriptPPT
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Aug 2016TranscriptPPT
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May 2016TranscriptPPT
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Feb 2016TranscriptPPT
Products & Applications:[1] [2]
The company designs, develops, manufactures, and supplies high-value-added RF and microwave systems, subsystems, and super components for applications across defence, space, telecom, meteorology, and civil communications.
It has supported India’s space programme and has contributed to 35 radars, 25 satellites, and ~15 strategic programmes to date.