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Astra Microwave Products

ASTRAMICRO NSE
₹1,580.10 +53.20 (+3.48%)
P/E
79.36
View as Markdown
MCP
Close 4 Nov 2026 ₹1,580.10 +543.70 +52.5% 1Y
Start ₹1,036.40

Key Fundamentals

SmallcapAerospace & DefenseCapital Goods

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
20.30%
Debt to Equity
0.22
EPS (TTM)
₹19.91
Book Value
₹133.91
Market Cap
—
P/E (TTM)
79.36
P/B
11.80
ROE
16.00%
Dividend Yield
0.16%
EBITDA
₹352 Cr
52W High
₹1,960.00
52W Low
₹851.00
Day Range
₹1,515.10 – ₹1,588.40
Volume
2,61,891

Peer Comparison

Industrials › Aerospace & Defense › Engineering › Aerospace & Defense

Astra Microwave Products peer comparison
Hindustan Aeronautics
₹5,079.1036.44₹3,35,230 Cr8.280.91%24.00%32.00%₹33,785 Cr₹9,322 Cr
Bharat Electronics
₹398.0045.49₹2,84,935 Cr11.080.66%27.40%36.40%₹30,253 Cr₹6,401 Cr
Bharat Dynamics
₹1,075.0075.65₹37,987 Cr9.290.48%10.20%13.90%₹2,766 Cr₹521 Cr
Garden Reach Shipbuilders
₹2,143.4030.66₹24,395 Cr9.350.92%31.60%42.80%₹7,507 Cr₹801 Cr
Data Patterns
₹4,078.0085.21₹22,179 Cr13.150.25%15.20%21.90%₹941 Cr₹267 Cr
Sigma Advanced System
₹938.70103.38₹17,375 Cr18.900.00%−4.03%11.70%₹861 Cr₹166 Cr
Astra Microwave Products (this company)
₹1,580.1079.36₹14,661 Cr11.800.16%16.00%20.30%₹1,140 Cr₹189 Cr
Aequs
₹219.59—₹14,236 Cr10.570.00%−9.96%1.69%₹1,370 Cr−₹171 Cr
Median 8 companies₹1,327.5575.65₹23,287 Cr10.830.37%15.60%21.10%₹2,068 Cr₹394 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

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

Overall score

52 Average

Data confidence 100/100

Category scores

Quality
75
Strong
Returns, margins, earnings quality 22% weight
Valuation
30
Poor
Cheap vs sector & own history 24% weight
Growth
25
Poor
Sales & profit trajectory 9% weight
Financial Health
58
Good
Solvency, leverage, coverage 9% weight
Momentum
68
Strong
Trend strength, vol-adjusted 12% weight
Ownership
50
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

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.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish766
OscillatorsBearish360
Moving AveragesStrong Bullish406

Key readings

RSI (14)
48.65
Neutral
MACD (12,26,9)
−30.28
Bearish
SMA (50)
1,632.77
Bearish
SMA (200)
1,364.85
Bullish

As of

Analyst Rating

Based on 13 analysts
BUY69%

9 of 13 analysts rate Buy, 3 Hold, 1 Sell.

As of

BUY
9
69%
HOLD
3
23%
SELL
1
8%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+11.10%
5Y+12.65%
3Y+12.54%
1Y+10.66%
TTM+3.92%

Net profit

Net profit growth by window
10Y+13.17%
5Y+46.09%
3Y+40.22%
1Y+25.32%
TTM+17.39%

Operating cash flow

Operating cash flow growth by window
10Y+20.69%
5YTurned positive
3YTurned positive
1YTurned positive
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+3.84 pp
5Y+16.71 pp
3Y+10.95 pp
1Y+3.13 pp
TTM+2.62 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹390 Cr
Mar 2018₹362 Cr
Mar 2019₹293 Cr
Mar 2020₹467 Cr
Mar 2021₹641 Cr
Mar 2022₹750 Cr
Mar 2023₹816 Cr
Mar 2024₹909 Cr
Mar 2025₹1,051 Cr
Mar 2026₹1,163 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹58.00 Cr
Mar 2018₹61.00 Cr
Mar 2019₹10.00 Cr
Mar 2020₹44.00 Cr
Mar 2021₹29.00 Cr
Mar 2022₹38.00 Cr
Mar 2023₹70.00 Cr
Mar 2024₹121 Cr
Mar 2025₹154 Cr
Mar 2026₹193 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹54.75 Cr +42.6% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 28 Oct 2026
AI opinion · based on fundamentals
Risk high

Astra Microwave Products Ltd trades at ₹1,568.6 as of 2026-10-28 with a market cap of ₹14,893 Cr, commanding a premium valuation at 78.78x TTM P/E and 11.71x P/B. The company has delivered strong 46% profit CAGR over five years and maintains a low debt-to-equity ratio of 0.22, but faces headwinds from slowing TTM sales growth of 4%, very low promoter holding at 6.54%, and elevated debtor days of 216.

Bull Case 7
  • Strong 5-year compounded profit growth of 46% CAGR demonstrates significant earnings expansion in the defence electronics segment
  • ROCE of 21.52% as of 2026-10-28 indicates efficient capital deployment, well above typical cost of capital
  • Low debt-to-equity ratio of 0.22 and ongoing debt reduction provide financial flexibility for future capex and order execution
  • ROE has improved from 11% on a 10-year basis to 16% in the last year, reflecting a trend of rising return on shareholder equity
  • Stock has delivered a 1-year CAGR of 50%, rising from a 52-week low of ₹851 to ₹1,568.6, reflecting strong market confidence in the defence spending cycle
  • Compounded sales growth of 13% over both 3-year and 5-year periods shows consistent top-line expansion in line with India's growing defence procurement budgets
  • TTM profit growth of 16% continues to outpace TTM sales growth of 4%, indicating margin improvement and operating leverage
Bear Case 7
  • Promoter holding at just 6.54% is unusually low, raising concerns about alignment of management interests and vulnerability to hostile actions
  • Debtor days of 216 indicate that over 7 months of revenue is locked in receivables, straining working capital and cash flow predictability — a common risk with government defence contracts
  • Stock trades at 11.71x book value as of 2026-10-28, pricing in substantial future growth and leaving the stock vulnerable to de-rating
  • TTM sales growth has decelerated sharply to 4% compared to the 3-year and 5-year CAGR of 13%, signalling potential near-term order execution or revenue recognition slowdown
  • Dividend yield of just 0.15% offers negligible income return to shareholders at the current price of ₹1,568.6
  • The stock is down approximately 20% from its 52-week high of ₹1,960, suggesting recent selling pressure despite the broader defence sector tailwinds
  • 10-year compounded profit CAGR of 13% is significantly lower than the recent 5-year figure of 46%, indicating that the high recent growth may partly reflect a low base or cyclical order bunching rather than a sustained structural trend

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

AI News Digest

12d ago

TL;DR: Limited recent news flow for Astra Microwave Products. The only development is a routine trading window closure ahead of Q2FY27 results, which is a standard compliance action and carries no directional signal. With no material headwinds or positives in the current news cycle, the near-term outlook depends on upcoming quarterly results and order inflow updates from the defense sector.

Neutral 1
  • Trading window closed for Q2FY27 Sep 24

    Astra Microwave closed its trading window from October 1, 2026, until 48 hours after declaring Q2FY27 financial results. This is a routine regulatory compliance measure under SEBI insider trading regulations.

Quarterly Results

₹ Cr
ASTRAMICRO quarterly results, ₹ crore
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
2.11
2.18
10
11
4
5.74
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
32.64
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 (₹)
−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

Profit & Loss

₹ Cr
ASTRAMICRO profit and loss, annual, ₹ crore
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 (₹)
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%
—

Balance Sheet

₹ Cr
ASTRAMICRO balance sheet, annual, ₹ crore
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

Cash Flow

₹ Cr
ASTRAMICRO cash flow, annual, ₹ crore
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/EBITDA
−4
58
30
170
42
12
−22
155
0
−75
−18
138

Ratios

ASTRAMICRO financial ratios, annual
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

Log in to view Astra Microwave Products insights

64 extracted metrics across FY12–FY27.

Shareholding Pattern

As of Sep 2026

  • Others 38.82%
  • Public 27.65%
  • DIIs 16.52%
  • FIIs 10.48%
  • Promoters 6.54%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

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 PE ratio of Astra Microwave Products Ltd?
Astra Microwave Products Ltd trades at a PE ratio of 79.36 as of 4 Nov 2026, on earnings per share of ₹19.91, 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 as of 4 Nov 2026.
Does Astra Microwave Products Ltd pay dividends?
Astra Microwave Products Ltd has a dividend yield of 0.16%.
What is the Return on Equity (ROE) of Astra Microwave Products Ltd?
Astra Microwave Products Ltd reported a return on equity of 16.00%. 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 1 Nov 2004
Face Value ₹2

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