Astra Microwave Products Ltd

Astra Microwave Products Ltd

₹ 611 12.19%
28 Mar 2:07 p.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

Products & Applications
Astra is engaged in the design, development, manufacture, and supply of high-value-added RF and microwave super components, sub-systems, and systems finding for Defense, Space, Telecom, Meteorology, and Civil communication applications. [1]

  • Market Cap 5,797 Cr.
  • Current Price 611
  • High / Low 694 / 222
  • Stock P/E 72.3
  • Book Value 91.6
  • Dividend Yield 0.29 %
  • ROCE 17.1 %
  • ROE 11.4 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 29.3%

Cons

  • Stock is trading at 6.60 times its book value
  • Promoter holding is low: 6.54%
  • Company has a low return on equity of 7.84% over last 3 years.
  • Company's cost of borrowing seems high
  • Promoter holding has decreased over last 3 years: -3.26%

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
181 251 129 180 202 239 162 175 220 258 134 190 231
159 202 104 168 176 215 140 136 169 226 131 148 165
Operating Profit 22 49 25 12 26 25 22 39 51 33 3 42 66
OPM % 12% 20% 19% 6% 13% 10% 14% 22% 23% 13% 2% 22% 29%
1 6 1 3 1 2 1 2 2 1 2 9 6
Interest 5 14 6 5 6 5 6 7 8 10 7 6 8
Depreciation 6 6 5 5 6 6 6 6 6 6 6 6 7
Profit before tax 13 35 15 4 16 16 12 28 38 18 -8 38 57
Tax % 19% 23% 19% 12% 27% 30% 31% 27% 28% 25% 18% 22% 25%
10 27 12 3 11 11 8 21 28 14 -7 30 43
EPS in Rs 1.19 3.12 1.41 0.39 1.32 1.26 0.94 2.37 3.20 1.56 -0.71 3.16 4.57
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
157 220 523 622 406 390 362 293 467 641 750 816 813
115 156 434 507 305 286 249 263 380 564 663 670 670
Operating Profit 42 64 89 116 101 103 114 31 88 77 87 145 144
OPM % 27% 29% 17% 19% 25% 27% 31% 10% 19% 12% 12% 18% 18%
2 7 8 6 9 6 8 25 12 11 6 5 18
Interest 7 7 12 15 14 15 15 13 15 26 21 31 31
Depreciation 13 13 15 22 24 24 27 29 26 24 22 24 25
Profit before tax 24 50 70 85 71 70 80 13 59 39 50 96 106
Tax % 24% 26% 27% 26% 21% 17% 23% 27% 26% 25% 25% 27%
19 37 51 63 56 58 61 10 44 29 38 70 80
EPS in Rs 2.27 4.55 6.21 7.67 6.50 6.65 7.05 1.13 5.08 3.33 4.37 8.06 8.58
Dividend Payout % 22% 18% 18% 16% 18% 15% 17% 22% 24% 36% 32% 20%
Compounded Sales Growth
10 Years: 14%
5 Years: 18%
3 Years: 20%
TTM: 2%
Compounded Profit Growth
10 Years: 6%
5 Years: 4%
3 Years: 18%
TTM: 19%
Stock Price CAGR
10 Years: 27%
5 Years: 41%
3 Years: 60%
1 Year: 145%
Return on Equity
10 Years: 10%
5 Years: 7%
3 Years: 8%
Last Year: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 16 16 16 16 17 17 17 17 17 17 17 17 19
Reserves 130 185 225 275 382 433 484 482 523 541 568 625 850
36 46 61 92 70 138 95 17 60 122 70 185 68
88 252 263 111 82 61 80 99 296 265 313 229 247
Total Liabilities 269 499 565 495 551 649 676 615 895 945 969 1,057 1,185
93 108 126 142 137 150 194 178 161 153 160 167 165
CWIP 0 0 0 0 1 37 1 2 12 0 0 2 7
Investments 0 24 2 0 0 57 126 35 26 30 14 11 17
176 367 436 354 413 405 355 400 696 762 795 877 996
Total Assets 269 499 565 495 551 649 676 615 895 945 969 1,057 1,185

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
28 114 -26 -5 59 14 179 1 -7 -25 115 -25
-6 -47 -14 -28 -18 -123 -94 85 -30 -1 -26 -28
-19 -24 0 11 21 46 -65 -98 37 34 -79 75
Net Cash Flow 3 43 -39 -22 62 -63 20 -12 -1 8 10 21

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 190 238 92 66 159 206 192 239 195 152 100 127
Inventory Days 276 268 166 149 208 252 266 314 390 270 290 295
Days Payable 79 121 235 65 69 34 36 55 84 31 38 32
Cash Conversion Cycle 387 385 23 150 299 424 421 498 501 391 352 390
Working Capital Days 171 4 72 126 219 291 175 309 254 252 207 262
ROCE % 18% 30% 29% 20% 16% 15% 3% 13% 10% 11% 17%

Shareholding Pattern

Numbers in percentages

1 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
8.98% 8.87% 8.71% 8.71% 8.71% 8.46% 8.28% 8.27% 7.17% 6.54% 6.54% 6.54%
1.04% 1.01% 1.45% 1.43% 1.82% 2.17% 3.13% 2.32% 2.32% 3.03% 1.73% 2.94%
4.95% 3.30% 1.68% 0.58% 0.29% 0.16% 0.07% 0.07% 0.07% 9.86% 15.26% 14.79%
85.03% 86.82% 88.16% 89.28% 89.18% 89.20% 88.52% 89.34% 90.44% 80.58% 76.47% 75.74%
No. of Shareholders 37,22640,00939,80438,58940,19339,15044,06947,70349,52846,50656,28271,368

* 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.

Click on the line-items to see the names of individual entities.

Documents

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