Astra Microwave Products Ltd

About [ edit ]

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 [ edit ]
  • Market Cap 1,080 Cr.
  • Current Price 125
  • High / Low 158 / 60.6
  • Stock P/E 89.3
  • Book Value 60.2
  • Dividend Yield 0.96 %
  • ROCE 12.8 %
  • ROE 8.15 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 20.93%

Cons

  • Promoter holding has decreased over last quarter: -0.82%
  • The company has delivered a poor sales growth of -5.57% over past five years.
  • Promoter holding is low: 8.98%
  • Company has a low return on equity of 6.87% for last 3 years.
  • Company has high debtors of 194.80 days.
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
55 45 76 118 32 110 151 175 99 110 181
50 53 68 97 37 78 112 160 95 109 159
Operating Profit 5 -8 8 20 -5 32 39 15 4 1 22
OPM % 8% -17% 11% 17% -16% 29% 26% 8% 4% 1% 12%
Other Income 13 6 3 3 1 3 2 7 3 0 1
Interest 2 2 2 3 2 2 2 3 3 3 5
Depreciation 7 7 7 8 6 6 7 7 6 6 6
Profit before tax 9 -10 3 12 -12 27 32 12 -2 -7 13
Tax % 27% 37% 29% 35% 28% 26% 30% 15% 30% 4% 19%
Net Profit 6 -7 2 8 -9 20 23 10 -2 -7 10
EPS in Rs 0.75 -0.76 0.24 0.92 -1.02 2.31 2.61 1.18 -0.18 -0.80 1.19

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
122 114 104 157 220 523 622 406 390 362 293 467 564
79 81 79 115 156 434 507 305 286 249 263 380 523
Operating Profit 42 32 25 42 64 89 116 101 103 114 31 88 41
OPM % 35% 28% 24% 27% 29% 17% 19% 25% 27% 31% 10% 19% 7%
Other Income 2 1 2 2 7 8 6 9 6 8 25 12 12
Interest 5 3 4 7 7 12 15 14 15 15 13 15 14
Depreciation 9 9 12 13 13 15 22 24 24 27 29 26 24
Profit before tax 30 21 11 24 50 70 85 71 70 80 13 59 15
Tax % 33% 26% 35% 24% 26% 27% 26% 21% 17% 23% 27% 26%
Net Profit 20 16 7 19 37 51 63 56 58 61 10 44 12
EPS in Rs 2.52 1.94 0.86 2.27 4.55 6.21 7.67 6.50 6.65 7.05 1.13 5.08 1.39
Dividend Payout % 7% 17% 39% 22% 18% 18% 16% 18% 15% 17% 22% 24%
Compounded Sales Growth
10 Years:16%
5 Years:-6%
3 Years:6%
TTM:37%
Compounded Profit Growth
10 Years:20%
5 Years:-8%
3 Years:-9%
TTM:-71%
Stock Price CAGR
10 Years:14%
5 Years:2%
3 Years:9%
1 Year:95%
Return on Equity
10 Years:%
5 Years:9%
3 Years:7%
Last Year:8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
11 11 11 16 16 16 16 17 17 17 17 17 17
Reserves 101 114 118 130 185 225 275 382 433 484 482 523 504
Borrowings 69 41 47 36 46 61 92 70 138 95 17 60 110
51 57 86 88 252 263 111 82 61 80 99 296 270
Total Liabilities 232 223 263 269 499 565 495 551 649 676 615 895 901
68 85 98 93 108 126 142 137 150 194 178 161 164
CWIP 22 9 0 0 0 0 0 1 37 1 2 12 0
Investments 1 0 0 0 24 2 0 0 57 126 35 26 31
141 129 165 176 367 436 354 413 405 355 400 696 707
Total Assets 232 223 263 269 499 565 495 551 649 676 615 895 901

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
4 51 5 28 114 -26 -5 59 14 179 1 -32
-31 -9 -12 -6 -47 -14 -28 -18 -123 -94 85 -6
23 -34 1 -19 -24 0 11 21 46 -65 -98 37
Net Cash Flow -4 9 -6 3 43 -39 -22 62 -63 20 -12 -1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 23% 14% 9% 18% 30% 29% 20% 16% 15% 3% 13%
Debtor Days 230 200 291 190 238 92 66 159 206 192 239 195
Inventory Turnover 1.31 1.32 1.15 1.46 3.02 2.57 1.47 1.51 1.27 1.34 1.27

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
13.13 13.26 12.97 12.90 12.84 12.83 9.88 10.05 10.05 10.03 9.80 8.98
1.62 1.40 1.69 1.47 1.87 1.87 1.85 1.30 0.48 0.59 0.98 1.04
23.82 16.37 13.80 13.45 13.52 13.41 11.96 11.19 10.85 8.94 8.02 4.95
61.43 68.97 71.54 72.18 71.77 71.89 76.31 77.45 78.62 80.45 81.20 85.03

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