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Astra Microwave sprints 14%, hits record high on highest-ever profit in Q4

Astra Microwave stock price: Astra Microwave Products registered highest-ever financial performance across all metrics


At Odds What ails defence procurement in India is not just inadequate funds, but poor communication between the MoD, MoF and the armed forces

SI Reporter New Delhi

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Astra Microwave share price: Astra Microwave Products share price soared 14.25 per cent to hit a fresh record high of Rs 914 apiece on the BSE in Monday's intraday trade after the defence and aerospace company reported over four-fold jump in net profit during the March quarter of FY24 (Q4FY24).

At 12:50 PM, the stock price was quoting nearly 11 per cent higher at Rs 886 per share as against 0.75-per cent rise in the benchmark S&P BSE Sensex.

During Q4FY24, Astra Microwave's standalone net profit came at Rs 50 crore, up 308 per cent year-on-year (Y-o-Y) from 12 crore reported in Q4FY23. Profit margin, too, expanded to 14.3 per cent from 4.8 per cent Y-o-Y.

Operationally, Astra Microwave's Q4FY24 revenue came at Rs 353 crore, up 37.5 per cent Y-o-Y from Rs 256 crore seen in Q4FY23.

Ebitda (earnings before interest, tax, depreciation, and amortisation), too, more-than-doubled to Rs 81 crore from Rs 31 crore Y-o-Y. Ebitda margin expanded to 22.8 per cent in Q4FY24 from 12.2 per cent last year.

On a consolidated basis, PAT was at Rs 54 crore for Q4FY24 (vs as Rs 13 crore in Q4FY23); and revenue was Rs 354 crore (vs Rs 258 crore Y-o-Y).

"This has been an excellent year for us, as we have grown exponentially and registered our highest-ever financial performance across all metrics. Additionally, we have achieved the quarterly and full-year guidance given at the start of the year," S G Reddy, managing director, Astra Microwave Products Limited.

Meanwhile, as on March 2024, Astra Microwave Products' orderbook stood at Rs 1,956 crore, which is more than double of FY24 revenues.

This order book consists of 88 per cent domestic orders, which command superior margins. Going forward, Astra Microwave targets order booking to the tune of Rs 1,300 crore in FY25 and a topline in the range of Rs 1,000 to 1,100 crore while maintaining its profit margins.

Astra Microwave Products Limited offers a diverse range of microwave products like filters, transmitters, receivers, antennas etc. The company has produced, developed & supplied space-borne hardware that has flown on Indian satellites. In addition, Astra has moved up the value chain and has supplied multiple Systems to various end users in the Defence, Aerospace & Metrology segment.

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First Published: May 27 2024 | 1:24 PM IST

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