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 ₹ 10,401 Cr.
- Current Price ₹ 1,095
- High / Low ₹ 1,196 / 836
- Stock P/E 64.8
- Book Value ₹ 122
- Dividend Yield 0.20 %
- ROCE 18.7 %
- ROE 14.4 %
- Face Value ₹ 2.00
Pros
- Company has delivered good profit growth of 28.6% CAGR over last 5 years
Cons
- Stock is trading at 8.79 times its book value
- Promoter holding is low: 6.54%
- Company has a low return on equity of 13.9% over last 3 years.
- Company has high debtors of 273 days.
- Company's cost of borrowing seems high
* 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 523 | 622 | 406 | 390 | 362 | 293 | 467 | 641 | 750 | 816 | 909 | 1,051 | 1,082 | |
| 434 | 507 | 305 | 286 | 249 | 263 | 380 | 564 | 663 | 670 | 717 | 782 | 793 | |
| Operating Profit | 89 | 116 | 101 | 103 | 114 | 31 | 88 | 77 | 87 | 145 | 192 | 269 | 290 |
| OPM % | 17% | 19% | 25% | 27% | 31% | 10% | 19% | 12% | 12% | 18% | 21% | 26% | 27% |
| 8 | 6 | 9 | 6 | 8 | 25 | 12 | 11 | 6 | 5 | 24 | 27 | 31 | |
| Interest | 12 | 15 | 14 | 15 | 15 | 13 | 15 | 26 | 21 | 31 | 32 | 57 | 60 |
| Depreciation | 15 | 22 | 24 | 24 | 27 | 29 | 26 | 24 | 22 | 24 | 25 | 35 | 42 |
| Profit before tax | 70 | 85 | 71 | 70 | 80 | 13 | 59 | 39 | 50 | 96 | 159 | 204 | 219 |
| Tax % | 27% | 26% | 21% | 17% | 23% | 27% | 26% | 25% | 25% | 27% | 24% | 25% | |
| 51 | 63 | 56 | 58 | 61 | 10 | 44 | 29 | 38 | 70 | 121 | 154 | 160 | |
| EPS in Rs | 6.21 | 7.67 | 6.50 | 6.65 | 7.05 | 1.13 | 5.08 | 3.33 | 4.37 | 8.06 | 12.75 | 16.17 | 16.90 |
| Dividend Payout % | 18% | 16% | 18% | 15% | 17% | 22% | 24% | 36% | 32% | 20% | 16% | 14% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 18% |
| 3 Years: | 12% |
| TTM: | 9% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 29% |
| 3 Years: | 58% |
| TTM: | 19% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 26% |
| 5 Years: | 56% |
| 3 Years: | 49% |
| 1 Year: | 3% |
| Return on Equity | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 11% |
| 3 Years: | 14% |
| Last Year: | 14% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 16 | 16 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 19 | 19 | 19 |
| Reserves | 225 | 275 | 382 | 433 | 484 | 482 | 523 | 541 | 568 | 625 | 947 | 1,079 | 1,144 |
| 61 | 92 | 70 | 138 | 95 | 17 | 60 | 122 | 70 | 186 | 238 | 424 | 278 | |
| 263 | 111 | 82 | 61 | 80 | 99 | 296 | 265 | 313 | 228 | 270 | 329 | 326 | |
| Total Liabilities | 565 | 495 | 551 | 649 | 676 | 615 | 895 | 945 | 969 | 1,057 | 1,474 | 1,851 | 1,766 |
| 126 | 142 | 137 | 150 | 194 | 178 | 161 | 153 | 160 | 167 | 170 | 229 | 227 | |
| CWIP | 0 | 0 | 1 | 37 | 1 | 2 | 12 | 0 | 0 | 2 | 13 | 3 | 1 |
| Investments | 2 | 0 | 0 | 57 | 126 | 35 | 26 | 30 | 14 | 11 | 24 | 32 | 36 |
| 436 | 354 | 413 | 405 | 355 | 400 | 696 | 762 | 795 | 877 | 1,267 | 1,587 | 1,501 | |
| Total Assets | 565 | 495 | 551 | 649 | 676 | 615 | 895 | 945 | 969 | 1,057 | 1,474 | 1,851 | 1,766 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -26 | -5 | 59 | 14 | 179 | 1 | -7 | -25 | 115 | -25 | -182 | -90 | |
| -14 | -28 | -18 | -123 | -94 | 85 | -30 | -1 | -26 | -28 | -44 | -76 | |
| 0 | 11 | 21 | 46 | -65 | -98 | 37 | 34 | -79 | 75 | 232 | 141 | |
| Net Cash Flow | -39 | -22 | 62 | -63 | 20 | -12 | -1 | 8 | 10 | 21 | 7 | -25 |
| Free Cash Flow | -67 | -39 | 37 | -58 | 145 | -12 | -25 | -28 | 87 | -59 | -229 | -169 |
| CFO/OP | -29% | -4% | 58% | 30% | 170% | 42% | 12% | -22% | 155% | 0% | -75% | -18% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 92 | 66 | 159 | 206 | 192 | 239 | 195 | 152 | 100 | 127 | 203 | 273 |
| Inventory Days | 166 | 149 | 208 | 252 | 266 | 314 | 390 | 270 | 290 | 295 | 344 | 389 |
| Days Payable | 235 | 65 | 69 | 34 | 36 | 55 | 84 | 31 | 38 | 32 | 56 | 48 |
| Cash Conversion Cycle | 23 | 150 | 299 | 424 | 421 | 498 | 501 | 391 | 352 | 390 | 491 | 614 |
| Working Capital Days | 54 | 97 | 218 | 231 | 154 | 306 | 211 | 182 | 174 | 180 | 269 | 283 |
| ROCE % | 30% | 29% | 20% | 16% | 15% | 3% | 13% | 10% | 11% | 17% | 19% | 19% |
Insights
In beta| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue Mix - Defence Sector % ・Standalone data |
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| Gross Current Assets (GCA) Days Days ・Includes some standalone data |
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| R&D Expenditure (Percentage of Turnover) % ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
- Board Meeting Intimation for Board Meeting To Be Held On 26Th May, 2026 To Consider And Approve The Audited Financial Results For The Fourth Quarter And Year Ended 31St March, 2026. 1m
- Announcement under Regulation 30 (LODR)-Newspaper Publication 5m
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
12 May - CRISIL monitoring report for Q4 FY26 shows no deviation; Rs 43.49 crore received, Rs 130.50 crore pending.
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Intimation Regarding Communication To Shareholders Under 'Second 100 - Day Campaign - Saksham Niveshak'.
6 May - Shares Saksham Niveshak campaign for KYC updates and claiming unpaid dividends before IEPF transfer.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
4 May - Filed Annual Secretarial Compliance Report for FY2026; no compliance deviations reported.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Concalls
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT
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Nov 2024Transcript PPT REC
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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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Nov 2020TranscriptPPT
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Feb 2020TranscriptPPT
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Nov 2019TranscriptPPT
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Nov 2018TranscriptPPT
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Nov 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
Astra is engaged in designing, developing, manufacturing, and supplying high-value-added RF and microwave super components, sub-systems, and systems finding for Defense, Space, Telecom, Meteorology, and Civil communication applications. [1]