Astra Microwave Products logo

Astra Microwave Products

ASTRAMICRO NSE

Key Fundamentals

SmallcapEngineeringAerospace & Defense
Market Cap
₹15,440 Cr
Volatility
Moderate
P/E Ratio
81.59
EBITDA
₹352 Cr
Return on Equity
14.68%
Debt to Equity
0.22
Book Value
₹133.91
EPS
₹14.22
52W High
₹1,960
52W Low
₹851

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

2
  • Company has reduced debt.
  • Company has delivered good profit growth of 46.2% CAGR over last 5 years

Weaknesses

3
  • Stock is trading at 11.7 times its book value
  • Promoter holding is low: 6.54%
  • Company has high debtors of 216 days.

Growth Rate

Revenue Growth
10.54% lower than 3Y
Net Income Growth
25.73% lower than 3Y
Cash Flow Change
529% higher than 3Y
ROE
5.08% lower than 3Y
ROCE
-0.46% lower than 3Y
EBITDA Margin (Avg.)
11.23% lower than 3Y

AI Analysis — Bull vs Bear

6d ago
AI opinion · based on fundamentals
Risk high

Astra Microwave Products has a market capitalisation of about ₹15,222 crore. It trades at a P/E of 80 and a P/B of 11.9, while ROE was 16% last year. Profit has compounded at 46% over 5 years and 40% over 3 years, well ahead of sales growth of 13% over both periods. TTM sales growth has slowed to 4%, and debtor days of 216 and promoter holding of 6.54% stand out on the balance sheet and ownership side.

Bull Case 8
  • Profit has compounded at 46% CAGR over 5 years and 40% over 3 years, showing strong earnings momentum over the medium term.
  • Profit growth has far outpaced sales growth: 40% vs 13% over 3 years and 46% vs 13% over 5 years. This suggests meaningful margin expansion and operating leverage in the business.
  • ROE has improved steadily, from an 11% 10-year average to 13% over 5 years, 15% over 3 years and 16% last year. Capital efficiency appears to be getting better.
  • TTM profit grew 16% even though TTM sales grew only 4%, so profitability kept improving during a slower revenue period.
  • Sales growth has been consistent at 13% CAGR over both 3 and 5 years and 11% over 10 years, pointing to steady long-term demand for its defence and aerospace electronics.
  • The company has reduced debt, which lowers financial risk. That matters for a business with working capital tied up in 216 debtor days.
  • The stock has compounded at 52% over 5 years and 56% over 3 years, reflecting sustained market recognition of its earnings growth.
  • The company pays a dividend (yield of 0.15%), so it returns some cash to shareholders while still reinvesting for growth.
Bear Case 8
  • At a P/E of 80, the earnings yield is about 1.25%. The current price already assumes strong growth will continue for a long time.
  • A P/B of 11.9 against last year's ROE of 16% is a steep premium to book value. There is little valuation cushion if returns stay flat or fall.
  • Debtor days of 216 mean receivables take more than 7 months to collect. This ties up working capital and may reflect dependence on slow-paying government or PSU customers.
  • TTM sales growth has slowed to 4%, from a 13% 3-year CAGR. That raises questions about order execution or demand in the near term.
  • Promoter holding is just 6.54%, so promoters have limited ownership alignment with minority shareholders.
  • The 10-year profit CAGR is only 13%, compared with 46% over 5 years. Part of the recent surge may be recovery from a low base rather than lasting structural growth.
  • The stock's 3-year CAGR of 56% is far ahead of the 13% sales CAGR. Much of the return has come from the market paying a higher multiple, which can reverse if sentiment on defence stocks cools.
  • A dividend yield of 0.15% gives almost no income support to the valuation.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

1d ago
Neutral 3
  • Hyderabad investor meet scheduled Sep 22

    Astra Microwave will hold a group meeting with analysts and institutional investors at its Hyderabad facility on September 29, 2026. Management commentary there could shed light on order book and execution.

  • 35th AGM resolutions approved Sep 18

    At the 35th AGM on September 18, 2026, shareholders approved the financial statements, dividends and board changes, including Dr. M. V. Reddy's promotion. The approvals point to governance continuity.

  • Trading window closed for Q2FY27 Sep 24

    The trading window is closed from October 1, 2026, until 48 hours after the Q2FY27 results are declared. This is a routine compliance step ahead of earnings.

TL;DR: All recent news for Astra Microwave is routine corporate activity: a completed AGM with dividend approval, a scheduled investor meet and a standard trading-window closure. None of it changes the fundamental picture, and these articles contain no operational, order-flow or financial data. Without new information, the trend is neither improving nor getting worse. The next real catalysts are management commentary at the September 29 investor meet and the Q2FY27 results, which should show how orders are being executed and how margins are holding up.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
134
190
231
354
155
230
259
408
200
215
260
488
177
Expenses
131
148
165
273
131
180
182
289
159
167
178
327
144
Operating Profit
3
42
66
81
24
49
76
118
41
48
83
161
33
OPM %
2.2%
22%
29%
23%
15%
21%
29%
29%
20%
22%
32%
33%
19%
Other Income
2
9
6
6
4
3
10
11
4
8
8
7
5
Interest
7
6
8
9
10
13
15
19
15
13
13
14
11
Depreciation
6
6
7
6
8
6
10
11
9
10
11
13
12
PBT
-8
38
57
71
9
34
62
99
21
32
66
141
16
Tax %
-18%
22%
25%
24%
23%
25%
23%
26%
23%
26%
29%
25%
21%
Net Profit
-7
30
43
54
7
25
47
73
16
24
47
106
12
EPS in Rs
-0.71
3.16
4.57
5.73
0.76
2.67
5
7.74
1.71
2.52
4.93
11.16
1.3
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
622
406
390
362
293
467
641
750
816
909
1,051
1,163
1,140
Expenses
507
305
286
249
263
380
564
663
670
717
782
829
815
Operating Profit
116
101
103
114
31
88
77
87
145
192
269
334
325
OPM %
19%
25%
27%
31%
10%
19%
12%
12%
18%
21%
26%
29%
29%
Other Income
6
9
6
8
25
12
11
6
5
24
27
26
29
Interest
15
14
15
15
13
15
26
21
31
32
57
56
52
Depreciation
22
24
24
27
29
26
24
22
24
25
35
44
46
PBT
85
71
70
80
13
59
39
50
96
159
204
261
255
Tax %
26%
21%
17%
23%
27%
26%
25%
25%
27%
24%
25%
26%
—
Net Profit
63
56
58
61
10
44
29
38
70
121
154
193
189
EPS in Rs
7.67
6.5
6.65
7.05
1.13
5.08
3.33
4.37
8.06
12.75
16.17
20.32
19.91
Div. Payout %
16%
18%
15%
17%
22%
24%
36%
32%
20%
16%
14%
12%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
16
17
17
17
17
17
17
17
17
19
19
19
Reserves
275
382
433
484
482
523
541
568
625
947
1,079
1,296
Borrowings
92
70
138
95
17
60
122
70
186
238
424
288
Other Liabilities
111
82
61
80
99
296
265
313
228
270
329
386
Total Liabilities
495
551
649
676
615
895
945
969
1,057
1,474
1,851
1,988
Fixed Assets
142
137
150
194
178
161
153
160
167
170
229
267
CWIP
0
1
37
1
2
12
0
0
2
13
3
9
Investments
0
0
57
126
35
26
30
14
11
24
32
50
Other Assets
354
413
405
355
400
696
762
795
877
1,267
1,587
1,662
Total Assets
495
551
649
676
615
895
945
969
1,057
1,474
1,851
1,988
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
-5
59
14
179
1
-7
-25
115
-25
-182
-90
387
Investing
-28
-18
-123
-94
85
-30
-1
-26
-28
-44
-76
-85
Financing
11
21
46
-65
-98
37
34
-79
75
232
141
-196
Net Cash Flow
-22
62
-63
20
-12
-1
8
10
21
7
-25
106
Free Cash Flow
-39
37
-58
145
-12
-25
-28
87
-59
-229
-169
304
CFO/OP
-4
58
30
170
42
12
-22
155
0
-75
-18
138
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
66
159
206
192
239
195
152
100
127
203
273
216
Inventory Days
149
208
252
266
314
390
270
290
295
344
389
394
Days Payable
65
69
34
36
55
84
31
38
32
56
48
73
Cash Conversion Cycle
150
299
424
421
498
501
391
352
390
491
614
537
Working Capital Days
97
218
231
154
306
211
182
174
180
269
283
267
ROCE %
29%
20%
16%
15%
3%
13%
10%
11%
17%
19%
19%
20%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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64 extracted metrics + investor summaries across FY11–FY27.

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Shareholding Pattern

Public27.68%Others38.95%Promot.6.54%FIIs10.74%DIIs16.09%As ofJun 2026

Documents

Frequently Asked Questions about Astra Microwave Products

What does Astra Microwave Products Ltd do?
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.
Where is Astra Microwave Products Ltd (ASTRAMICRO) listed?
Astra Microwave Products Ltd trades as ASTRAMICRO on the NSE and under code 532493 on the BSE.
Which sector does Astra Microwave Products Ltd belong to?
Astra Microwave Products Ltd is classified under the Aerospace & Defense sector, in the Engineering industry.
What is the market capitalisation of Astra Microwave Products Ltd?
Astra Microwave Products Ltd has a market capitalisation of ₹15,440 Cr, which places it in the Mid Cap band.
What is the PE ratio of Astra Microwave Products Ltd?
Astra Microwave Products Ltd trades at a PE ratio of 81.59, on earnings per share of ₹14.22, against a book value of ₹133.91 per share.
What is the 52-week high and low of Astra Microwave Products Ltd?
Over the last 52 weeks Astra Microwave Products Ltd has traded between ₹851 and ₹1,960.
Does Astra Microwave Products Ltd pay dividends?
Astra Microwave Products Ltd has a dividend yield of 0.15%.
What is the Return on Equity (ROE) of Astra Microwave Products Ltd?
Astra Microwave Products Ltd reported a return on equity of 14.68%. Its debt-to-equity ratio is 0.22.

Company Information

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.

Website astramwp.com
CEO Mr. Maram Venkateshwar Reddy MBA
Employees 1,491
Listed 2004-11-01
Face Value ₹ 2
Issued Size 9,49,45,008

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