Astra Microwave Products (532493) Investor presentation summary

Financial performance and growth

• Standalone FY26 revenue grew 10.7% YoY to ₹1,156 Cr, with EBITDA margin rising to 28.0% and PAT margin to 15.4%.

• Consolidated FY26 revenue reached ₹1,163 Cr, up 10.6% YoY, with EBITDA margin at 28.7% and PAT margin at 16.6%.

• Order book stood at ₹2,141 Cr as of March 2026, with 54% from defence/public sector and 33% from exports.

• Top customers include DRDO (28.2% of revenue), BEL & DPSUs (22.7%), and IMD/Met Dept (18%).

• Cash conversion cycle improved to 374 days in FY26 from 459 days in FY25.

Business segments and order profile

• Defence accounted for 58.4% of Q4FY26 revenue, followed by space (19.5%) and exports (16.9%).

• Major Q4FY26 orders included radar systems for BEL, ARC, IMD, and DRDO, totaling ₹300.3 Cr.

• Production orders made up 58.1% of the order book, with development and export orders at 17.2% and 16.3% respectively.

• Board approved in-principle demerger of Space, Meteorology, and Hydrology businesses for focused growth.

Strategic initiatives and infrastructure

• LEAP framework drives growth through IP leverage, R&D, and expansion into new domains like anti-drone, EW, and satellites.

• Four manufacturing and two R&D facilities, with significant investments in advanced testing and quality control.

• Subsidiaries and JVs include Astra Defence Technologies, Aelius Semiconductors, Astra Space Technologies, ARC (with Rafael), and Navictronics.

• ARC JV operates India's first private military-grade SDR facility, producing advanced tactical communication and EW systems.