ASTRAMICRO

Astra Microwave Products Limited

RF and microwave products and strategic electronics for defence and space sectors

Industrials›Capital Goods›Aerospace & Defense›Aerospace & Defense

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Key metrics

Price as of 2026-10-16

Stock price
₹1625.20
Market cap
15,437 Cr
Stock P/E
81.7
P/B
11.74
Dividend yield
0.1%
ROE (FY26)
14.7%
ROCE (FY26)
19.7%
Operating margin (FY26)
24.9%
Debt / equity (FY26)
0.22
OCF / EBITDA (FY26)
115.9%
OCF / EBITDA (3Y)
14.5%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

Astra Microwave Products (Astra Microwave) builds microwave and radio-frequency electronics and systems for India's defence, space and weather-monitoring customers, with smaller export sales.

Company snapshot

9thBy market cap

Ranked among 25 companies in Aerospace & Defense.

What we see

Positives
  • ✓Net margin of 16.6% — the business keeps a healthy share of every rupee it earns.
Concerns
  • ✗Only 14% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales190 Cr231 Cr354 Cr155 Cr230 Cr259 Cr408 Cr200 Cr215 Cr260 Cr488 Cr177 Cr
Operating expenses (approx.)148 Cr165 Cr273 Cr131 Cr180 Cr182 Cr288 Cr159 Cr167 Cr178 Cr326 Cr144 Cr
EBITDA42 Cr66 Cr81 Cr24 Cr49 Cr76 Cr120 Cr41 Cr48 Cr83 Cr162 Cr33 Cr
OPM %21.9%28.6%22.8%15.5%21.4%29.5%29.3%20.5%22.3%31.7%33.3%18.7%
Other income3 Cr4 Cr3 Cr2 Cr2 Cr2 Cr11 Cr3 Cr6 Cr3 Cr7 Cr2 Cr
Interest6 Cr8 Cr9 Cr10 Cr13 Cr15 Cr19 Cr15 Cr13 Cr13 Cr14 Cr11 Cr
Depreciation6 Cr7 Cr6 Cr8 Cr6 Cr10 Cr11 Cr9 Cr10 Cr11 Cr13 Cr12 Cr
Profit before tax38 Cr57 Cr71 Cr9 Cr34 Cr62 Cr99 Cr21 Cr32 Cr66 Cr141 Cr16 Cr
Tax %21.8%24.6%23.7%23.0%24.7%23.0%25.9%22.8%26.2%29.3%24.9%21.5%
Net profit30 Cr43 Cr54 Cr7 Cr25 Cr47 Cr73 Cr16 Cr24 Cr47 Cr106 Cr12 Cr
EPS (₹)₹3.16₹4.57₹5.73₹0.76₹2.67₹5.00₹7.74₹1.71₹2.52₹4.93₹11.16₹1.30

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales420 Cr366 Cr293 Cr467 Cr641 Cr750 Cr816 Cr909 Cr1,051 Cr1,163 CrSign in free for the trailing twelve months
Operating expenses (approx.)320 Cr255 Cr265 Cr385 Cr564 Cr661 Cr668 Cr717 Cr782 Cr829 CrSign in free for the trailing twelve months
EBITDA99 Cr111 Cr29 Cr82 Cr77 Cr89 Cr148 Cr192 Cr269 Cr334 CrSign in free for the trailing twelve months
OPM %23.7%30.3%9.8%17.7%12.0%11.9%18.1%21.1%25.6%28.7%Sign in free for the trailing twelve months
Other income6 Cr8 Cr25 Cr12 Cr11 Cr6 Cr5 Cr12 Cr18 Cr18 CrSign in free for the trailing twelve months
Interest11 Cr12 Cr9 Cr8 Cr23 Cr21 Cr31 Cr31 Cr57 Cr56 CrSign in free for the trailing twelve months
Depreciation24 Cr27 Cr29 Cr26 Cr24 Cr22 Cr24 Cr25 Cr35 Cr44 CrSign in free for the trailing twelve months
Profit before tax70 Cr80 Cr13 Cr59 Cr39 Cr50 Cr96 Cr159 Cr204 Cr261 CrSign in free for the trailing twelve months
Tax %17.4%23.4%26.9%25.5%25.2%24.6%27.2%23.9%24.7%26.0%Sign in free for the trailing twelve months
Net profit58 Cr61 Cr10 Cr44 Cr29 Cr38 Cr70 Cr121 Cr154 Cr193 CrSign in free for the trailing twelve months
EPS (₹)₹6.65₹7.05₹1.13₹5.09₹3.33₹4.37₹8.06₹12.86₹16.17₹20.32Sign in free for the trailing twelve months
Dividend payout %————36.0%27.5%17.5%12.7%-12.4%-10.8%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital17 Cr17 Cr17 Cr17 Cr17 Cr17 Cr17 Cr19 Cr19 Cr19 Cr
Reserves433 Cr484 Cr482 Cr523 Cr541 Cr568 Cr625 Cr947 Cr1,079 Cr1,296 Cr
Borrowings131 Cr36 Cr7 Cr55 Cr122 Cr70 Cr185 Cr238 Cr424 Cr288 Cr
Other liabilities68 Cr139 Cr109 Cr300 Cr265 Cr313 Cr229 Cr270 Cr329 Cr386 Cr
Total liabilities649 Cr676 Cr616 Cr895 Cr945 Cr969 Cr1,057 Cr1,474 Cr1,851 Cr1,988 Cr
Fixed assets (net)150 Cr194 Cr178 Cr161 Cr153 Cr159 Cr166 Cr167 Cr223 Cr261 Cr
CWIP37 Cr0.72 Cr2 Cr12 Cr0 Cr0.08 Cr2 Cr13 Cr3 Cr9 Cr
Investments57 Cr126 Cr35 Cr26 Cr30 Cr14 Cr11 Cr24 Cr32 Cr50 Cr
Inventories130 Cr107 Cr140 Cr284 Cr330 Cr419 Cr419 Cr515 Cr616 Cr616 Cr
Trade receivables220 Cr190 Cr192 Cr249 Cr267 Cr205 Cr284 Cr505 Cr786 Cr688 Cr
Cash & bank2 Cr21 Cr10 Cr9 Cr18 Cr27 Cr56 Cr66 Cr25 Cr175 Cr
Other assets54 Cr36 Cr59 Cr154 Cr148 Cr144 Cr119 Cr184 Cr166 Cr189 Cr
Total assets649 Cr676 Cr616 Cr895 Cr945 Cr969 Cr1,057 Cr1,474 Cr1,851 Cr1,988 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity14 Cr179 Cr1 Cr-32 Cr-21 Cr110 Cr-25 Cr-182 Cr-90 Cr387 Cr
Cash from investing-123 Cr-94 Cr85 Cr-6 Cr-6 Cr-28 Cr-28 Cr-44 Cr76 Cr81 Cr
Cash from financing46 Cr-65 Cr-98 Cr37 Cr36 Cr-72 Cr75 Cr232 Cr-52 Cr-362 Cr
Net cash flow-63 Cr20 Cr-12 Cr-0.73 Cr8 Cr10 Cr21 Cr7 Cr-65 Cr106 Cr
Free cash flow (OCF − Capex)-58 Cr145 Cr-15 Cr-51 Cr-25 Cr82 Cr-59 Cr-229 Cr-90 Cr387 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %13.9%17.1%4.5%11.4%9.1%10.9%15.3%15.8%17.1%19.7%
ROE %12.8%12.2%2.0%8.2%5.2%6.5%10.9%12.5%14.0%14.7%
Debtor days19018923819515299127203272215
Inventory days248275283310247282283336358388
Days payable34385067283731554571
Cash conversion cycle405427471438370344378484586532
OCF / EBITDA %14.5%161.3%5.1%-38.2%-27.6%123.6%-17.2%-94.7%-33.5%115.9%
OCF / EBITDA % (3 years)——81.4%67.0%-27.2%23.1%20.3%-22.6%-48.8%14.5%
Debt / equity0.290.070.010.100.220.120.290.250.390.22
Current ratio3.392.983.751.961.982.302.532.852.423.13
Net debt / EBITDA1.300.13-0.090.551.350.480.880.901.480.34