Astra Microwave Products (532493) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 revenue reached INR 197 crore, up 28.1% year-over-year, with improved profit margins and strong core business performance.

• Maintains a robust and diversified order book, with major new orders from DRDO and sectoral tailwinds.

• Strategic investments in radar, weather, and space sectors, including a new facility for satellite assembly and integration, are driving diversification.

• Joint venture Astra Rafael Comsys (ARC) has an order book exceeding INR 400 crore and expects to book INR 800 crore in new orders this year.

• Focused on R&D, infrastructure, and strategic alliances to capture opportunities in defence, space, and exports.

Financial highlights

• FY25 consolidated revenue rose to ₹1,051 Cr, up 16% year-over-year; Q1 FY26 revenue at ₹200 Cr, up 28.7% year-over-year.

• Standalone Q1 FY26 revenue: ₹19,725.70 lakhs, up from ₹15,394.88 lakhs in Q1 FY25.

• PAT grew 27% to ₹154 Cr in FY25; Q1 FY26 PAT at ₹41 Cr, up 71% year-over-year.

• Standalone EBITDA margin expanded to 25.5% in FY25 from 21.4% in FY24.

• Order book as of June 30, 2025: Standalone ₹1,890.95 crore; Consolidated ₹2,236.19 crore.

Outlook and guidance

• Confident in meeting sales and order inflow targets for FY26, supported by a strong order pipeline and execution focus.

• Positioned to benefit from India's growing defence budget and Atma Nirbhar Bharat initiatives.

• Targeting 70% domestic and 30% export revenue mix over the next 2-3 years.

• Three major contracts totaling approximately $100 million expected for ARC before March 2026.

• Orders booked in Q1 FY26: Standalone ₹137.80 crores; Consolidated ₹150.64 crores.