Astra Microwave Products Ltd

₹ 261 -5.56%
27 Jan - 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 2,257 Cr.
  • Current Price 261
  • High / Low 375 / 175
  • Stock P/E 44.3
  • Book Value 69.6
  • Dividend Yield 0.54 %
  • ROCE 10.6 %
  • ROE 6.56 %
  • Face Value 2.00

Pros

  • Company has been maintaining a healthy dividend payout of 30.5%
  • Debtor days have improved from 149 to 99.7 days.

Cons

  • Stock is trading at 3.74 times its book value
  • Promoter holding is low: 8.27%
  • Company has a low return on equity of 6.63% over last 3 years.

* 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

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
110 151 175 99 110 181 251 129 180 202 239 162 175
78 112 160 95 109 159 202 104 168 176 215 140 136
Operating Profit 32 39 15 4 1 22 49 25 12 26 25 22 39
OPM % 29% 26% 8% 4% 1% 12% 20% 19% 6% 13% 10% 14% 22%
3 2 7 3 0 1 6 1 3 1 2 1 2
Interest 2 2 3 3 3 5 14 6 5 6 5 6 7
Depreciation 6 7 7 6 6 6 6 5 5 6 6 6 6
Profit before tax 27 32 12 -2 -7 13 35 15 4 16 16 12 28
Tax % 26% 30% 15% 30% 4% 19% 23% 19% 12% 27% 30% 31% 27%
Net Profit 20 23 10 -2 -7 10 27 12 3 11 11 8 21
EPS in Rs 2.31 2.61 1.18 -0.18 -0.80 1.19 3.12 1.41 0.39 1.32 1.26 0.94 2.37
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
104 157 220 523 622 406 390 362 293 467 641 750 779
79 115 156 434 507 305 286 249 263 380 564 663 667
Operating Profit 25 42 64 89 116 101 103 114 31 88 77 87 111
OPM % 24% 27% 29% 17% 19% 25% 27% 31% 10% 19% 12% 12% 14%
2 2 7 8 6 9 6 8 25 12 11 6 6
Interest 4 7 7 12 15 14 15 15 13 15 26 21 23
Depreciation 12 13 13 15 22 24 24 27 29 26 24 22 23
Profit before tax 11 24 50 70 85 71 70 80 13 59 39 50 71
Tax % 35% 24% 26% 27% 26% 21% 17% 23% 27% 26% 25% 25%
Net Profit 7 19 37 51 63 56 58 61 10 44 29 38 51
EPS in Rs 0.86 2.27 4.55 6.21 7.67 6.50 6.65 7.05 1.13 5.08 3.33 4.37 5.89
Dividend Payout % 39% 22% 18% 18% 16% 18% 15% 17% 22% 24% 36% 32%
Compounded Sales Growth
10 Years: %
5 Years: 14%
3 Years: 37%
TTM: 5%
Compounded Profit Growth
10 Years: %
5 Years: -8%
3 Years: 124%
TTM: -4%
Stock Price CAGR
10 Years: 21%
5 Years: 17%
3 Years: 38%
1 Year: 23%
Return on Equity
10 Years: %
5 Years: 6%
3 Years: 7%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
11 16 16 16 16 17 17 17 17 17 17 17 17
Reserves 118 130 185 225 275 382 433 484 482 523 541 568 586
47 36 46 61 92 70 138 95 17 60 122 70 154
86 88 252 263 111 82 61 80 99 296 265 313 266
Total Liabilities 263 269 499 565 495 551 649 676 615 895 945 969 1,023
98 93 108 126 142 137 150 194 178 161 153 160 157
CWIP 0 0 0 0 0 1 37 1 2 12 0 0 0
Investments 0 0 24 2 0 0 57 126 35 26 30 14 12
165 176 367 436 354 413 405 355 400 696 762 795 853
Total Assets 263 269 499 565 495 551 649 676 615 895 945 969 1,023

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
5 28 114 -26 -5 59 14 179 1 -7 -25 115
-12 -6 -47 -14 -28 -18 -123 -94 85 -30 -1 -26
1 -19 -24 0 11 21 46 -65 -98 37 34 -79
Net Cash Flow -6 3 43 -39 -22 62 -63 20 -12 -1 8 10

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 291 190 238 92 66 159 206 192 239 195 152 100
Inventory Days 374 276 268 166 149 208 252 266 314 390 270 290
Days Payable 102 79 121 235 65 69 34 36 55 84 31 38
Cash Conversion Cycle 564 387 385 23 150 299 424 421 498 501 391 352
Working Capital Days 224 171 4 72 126 219 291 175 309 254 252 208
ROCE % 9% 18% 30% 29% 20% 16% 15% 3% 13% 10% 11%

Shareholding Pattern

Numbers in percentages

4 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
10.05 10.05 10.03 9.80 8.98 8.87 8.71 8.71 8.71 8.46 8.28 8.27
1.30 0.48 0.59 0.98 1.04 1.01 1.45 1.43 1.82 2.17 3.13 2.32
11.19 10.85 8.94 8.02 4.95 3.30 1.68 0.58 0.29 0.16 0.07 0.07
77.45 78.62 80.45 81.20 85.03 86.82 88.16 89.28 89.18 89.20 88.52 89.34

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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