Astra Microwave Products (532493) Q3 25/26 earnings summary

Executive summary

• Achieved record quarterly and nine-month performance with strong revenue and profit growth, driven by margin improvement and robust order execution.

• Standalone Q3 FY26 revenue at Rs. 25,823.57 lakhs, EBIT at Rs. 8,000 lakhs, and PAT near Rs. 3,887.53 lakhs; nine-month standalone revenue at Rs. 66,800 lakhs, PAT up 6.3% year-over-year.

• Order book as of December 31, 2025, stood at Rs. 2,226 crore (standalone) and Rs. 2,566.03 crore (consolidated), with significant new orders in defense and meteorology.

• Strategic investments in R&D, joint ventures, and a diversified portfolio drive innovation and global reach.

• CFO transition: Mr. Rahul Rungta resigned and Mr. Srinivasarao Devathi was appointed as CFO from February 12, 2026.

Financial highlights

• Standalone revenue for Q3 FY26 was Rs. 25,823.57 lakhs, up from Rs. 21,295.73 lakhs in Q3 FY25; consolidated revenue for Q3 FY26 was Rs. 26,024.51 lakhs.

• Standalone EBITDA margin at 30.9% for Q3 FY26; consolidated EBITDA margin for 9MFY26 at 25.4%.

• Standalone PAT for 9MFY26 increased 6.3% to Rs. 73 crore; consolidated PAT up 8.7% to Rs. 87 crore.

• Standalone gross profit margin for 9MFY26 at 49.4%, up from 42.9% year-over-year.

• EPS (consolidated) for Q3 FY26 was Rs. 4.93, up from Rs. 2.52 in Q3 FY25.

Outlook and guidance

• FY26 revenue target reaffirmed at Rs. 1,150 crore, with 10% top-line growth and healthy PBT; FY27 revenue growth guided at 15%.

• Long-term growth expected to accelerate from FY28-FY29, with order inflows of Rs. 1,300–1,400 crore for FY26 and Rs. 1,500–1,600 crore for FY27.

• Management expects to more than double turnover in 3-4 years, targeting Rs. 8,000–10,000 crore in new orders and Rs. 7,500+ crore in sales over four years.

• Targets 15–20% revenue growth over the next three to five years, focusing on complex system fabrication and international markets.