Astra Microwave Products (532493) Q4 25/26 earnings summary

Executive summary

• FY 2026 featured double-digit revenue and profit growth, robust order book, margin expansion, and strategic initiatives for long-term growth.

• Diversified revenue streams across defense, space, meteorology, and exports, with increasing export share.

• Transitioning from component supplier to IP-driven systems manufacturer and development-cum-production partner for national programs.

• Board approved in-principle demerger of space, meteorology, and hydrology business to sharpen strategic focus and unlock value.

• Leadership transition planned for October 2026, ensuring continuity and strategic direction.

Financial highlights

• FY 2026 consolidated revenue reached INR 1,163 crore, up 10.6% YoY; PAT up 25.7% YoY to INR 193 crore; EBITDA margin at 28.7%.

• Standalone revenue for FY 2026 was INR 1,156 crore, up 10.7% YoY; PAT up 23.9% YoY to INR 178 crore; EBITDA margin improved to 28.0%.

• Q4 billing was INR 490 crore, up 16% YoY; Q4 standalone revenue grew 20.4% YoY; PAT up 40.3% YoY.

• Dividend of INR 2.40 per share recommended for FY 2025-26.

• Cash and cash equivalents increased to INR 175 crore (consolidated) by March 2026.

Outlook and guidance

• FY 2027 top-line growth reaffirmed at 15%-20%; targets 15–20% revenue growth over the next 3–5 years, driven by complex system fabrication.

• Revenue expected to triple over the next 4-5 years, driven by five to six major programs.

• CapEx to remain at INR 40-50 crore annually; working capital needs manageable within current limits.

• Margin profile expected to sustain at current levels, with upside from higher value-add and IP-driven exports.

• Order guidance for Space segment at INR 154 crore; focus on margin and capital efficiency improvement.