Astra Microwave Products Ltd. · NSE:ASTRAMICRO
Astra Microwave Products — Q4 FY2024 Earnings Presentation
45 slides from Astra Microwave Products's earnings presentation, May 24, 2024
Slide 1: Intimation of Investor Presentation Q4 & FY24
ASTRA MICROWAVE PRODUCTS LIMITED C0 A Regd. Office: ASTRA Towers, Survey No. 12(P). Kothaguda Post Kondapur, HITEC City, Hyderabad, Telangana. INDIA - 500084 Tel: +91 4046618000.46618001. Fax: +91 40 46618048 Email : mktg@astramwp.com , website : www.astramwp.com CIN: L29309TG1 991 PLCO1 3203 May 24
Slide 2: On A Winning Wavelength - Investor Presentation May 2024
On A Winning Wavelength Investor Presentation – May 2024
Slide 3: Safe harbour
Safe harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Astra Microwave Products Ltd. (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for an
Slide 4: Robust Long-term Growth
Robust Long-term Growth Rs. in Cr Revenue EBITDA PAT Geographic Mix Increase in revenue 18.2% 21.4% 10.3% 12.5% Margins Margins Margins Margins contribution from high margin domestic orders 1.96x 904 904 2.30x 194 32% 2.40x 113 462 462 84 44% 68% 47 56% FY20 FY24 FY20 FY24 FY20 FY24 FY20 FY24 *Repre
Slide 5: Consolidated Performance Highlights
Performance Highlights Margins Revenue (Rs. Cr) EBITDA (Rs. Cr) PAT (Rs. Cr) +12% 12.2% 22.8% 18.5% 21.4% 4.8% 14.3% 9.5% 12.5% Standalone 904 807 +29% +47% 194 113 +38% 150 +308% +158% 77 353 81 50 256 31 12 Q4FY23 Q4FY24 FY23 FY24 Q4FY23 Q4FY24 FY23 FY24 Q4FY23 Q4FY24 FY23 FY24 Revenue (Rs. Cr) EB
Slide 6: Robust Order Book
Robust Order Book Total orders received during the quarter Segment Wise Order book Sno Segment Name Amount (Rs. Cr) 12% Orderbook Diversified 1 Defence 445.99 4% 2 Exports 2.25 Rs. 329 Cr 7% worth of orders Rs. 1,956 Cr 3 Space 0.74 executed in Defence/Public Q4FY24 4 Meteorological 22.83 Space 77%
Slide 7: Segmental Revenue Break-up
Segmental Revenue Break-up Revenue Break-up in % Q4FY24 Q3FY24 Q2FY24 Q1FY24 Q4FY23 Defence 58.0% 72.2% 56.1% 37.0% 39.8% Space 14.0% 6.1% 3.1% 2.0% 2.1% Exports including Deemed Exports 24.2% 20.3% 38.8% 59.8% 54.6% Meteorological 3.5% 0.7% 1.2% 0.8% 3.0% Others 0.3% 0.7% 0.7% 0.4% 0.5% 0.3% 0.5% 2
Slide 8: Standalone Profit & Loss
Standalone Profit & Loss (Rs. In Cr) Q4FY24 Q4FY23 YOY Q3FY24 QoQ FY24 FY23 YOY Revenue from Operations 353 256 37.5% 230 53.4% 904 807 12.0% Raw Material Consumption 221 183 123 551 519 Highest Ever Revenue, Gross Profit 132 73 80.3% 107 22.8% 353 289 22.4% EBITDA and PAT for the Gross Profit Margi
Slide 9: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. In Cr) Mar-24 Mar-23 EQUITY AND LIABILITIES (Rs. In Cr) Mar-24 Mar-23 Non-Current Assets 249 228 Equity and Liabilities 968 653 Property, plant and equipment 169 165 Equity share capital 19 17 Capital WIP 13 2 Equity attributable to owners of the Company 949 636
Slide 10: Standalone Cashflow Statement
Standalone Cashflow Statement Cash Flow Statement (Rs. in Cr) Mar-24 Mar-23 Profit Before Taxes 152 103 Changes in working capital -301 -99 Cash generated from operations -150 4 Direct taxes paid (net of refund) -38 -26 Net Cash from Operating Activities -187 -22 Net Cash from Investing Activities -
Slide 11: Consolidated Profit & Loss
Consolidated Profit & Loss PARTICULARS (Rs. In Cr) Q4FY24 Q4FY23 YoY Q3FY24 QoQ FY24 FY23 YOY Revenue from Operations 354 258 37.0% 231 53.2% 909 816 11.4% Raw Material Consumption 219 179 122 546 518 Gross Profit 135 79 70.4% 109 23.6% 363 297 22.1% Highest Ever Revenue, Gross Profit Margin 38.1% 3
Slide 12: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. In Cr) Mar-24 Mar-23 EQUITY AND LIABILITIES (Rs. In Cr) Mar-24 Mar-23 Non-Current Assets 239 206 Equity and Liabilities 966 643 Property, plant and equipment 167 166 Equity share capital 19 17 Capital WIP 13 2 Equity attributable to owners of the Company 947 62
Slide 13: Consolidated Cashflow Statement
Consolidated Cashflow Statement Cash Flow Statement (Rs. in Cr) Mar-24 Mar-23 Profit Before Taxes 159 96 Changes in working capital -303 -96 Cash generated from operations -144 0 Direct taxes paid (net of refund) -38 -26 Net Cash from Operating Activities -182 -25 Net Cash from Investing Activities
Slide 14: Company Overview
Company Overview
Slide 15: Astra Microwave: An Overview
Astra Microwave: An Overview Astra is engaged in the business of designing, developing and manufacturing of Defence, Aerospace & Space Electronics systems, sub-systems and components • Astra Microwave incorporated in 1991 is one of the few private sector companies in India that: Key projects partici
Slide 16: Strong Sectoral Tailwinds
Strong Sectoral Tailwinds Healthy Order Book Order Book worth Defence spend in India has received a 01 mega boost Rs. 1,956 (Mar-24) Sound visibility of revenues: Order book as on Mar-24 is more than 2x of revenue of FY24 Government of India's Atma Nirbhar 02 Bharat initiatives AMPL has a proven tra
Slide 17: Board of Directors
Board of Directors Managing Director Joint Managing Director Mr. S. Gurunatha Reddy Dr. Maram Venkateshwar Reddy • Graduate in Science and Mathematics and Fellow Chartered Accountant. • Graduate in Engineering (Electronics) and a Postgraduate in Business Administration. • Worked in private sector in
Slide 18: Key Team Members
Key Team Members LGM Prakasam M Pravin V Sudhakar BM Chandrakanth VP - Radar Systems VP - Design (EW) Associate VP - Sr. GM – Marketing Design & Sales GR Shinde Balachary T.N. Ramesh Dr. P Srinivasulu Sr. GM – Design GM - Antenna GM – Production Sr. GM - Design Design L Sudhakar V Venkatesh CV Rao S
Slide 19: Journey so far
Journey so far Entered Radar Offset Production Systems 7.3 M Telemetry 2010 2015 System Commissioned PPTR C-DWR 07 08 2022 2024 Space Electronic Sub- Radar & Strategic systems 17 Delivered Phased 15 16 Telecom Electronics 2003 Array Telemetry Subsystems 1991 05 06 System 1993 2023 Completed Radar 20
Slide 20: Strong research and development capabilities
Strong research and development capabilities Dedicated research and development facility in Bengaluru with modern equipment and Total workf orce (as of M a r c h in Hyderabad at Unit-III & Unit-IV 31st, 2 0 2 4 ) – 1,466 549 R&D professionals, out of which over 102 • Participating in multiple MAKE-I
Slide 21: State of the Art Infrastructure
State of the Art Infrastructure Astra has advanced in-hous e facilities for lower turnaround t i m e for produc t realization appreciated b y domestic a nd foreign customers. Hyderabad Bengaluru Unit I Unit II Unit Ill Unit IV Unit V Bengaluru Unit Land : 1.13 Acres Land : 2.0 Acres Land : 9.9 Acres
Slide 22: Assembly Infrastructure
Assembly Infrastructure Fully automated Assembly facility consisting of 3 Automatic SMT assembly lines with high end testing capabilities that 01 include AOI, 3D X Ray, and functional test using Flying probe tester. 450,000 sq.ft. of research, design, development and 02 manufacturing across 6 units
Slide 23: Functional Testing
Functional Testing 01 Near Field Test Range (NFTR) 02 Digital Signaling 03 Function and pulse generators FFTR ATE ATS - Facility 04 Open air antenna test range Spectrum Analyzers, Vector Network Analyzer, 05 Signal generator, RF power meter 06 Distortion Analyzer 07 ATE-ATS facility Op e n Air Anten
Slide 24: Functional Testing
Functional Testing EMI/EMC Test Facility as per MIL STD 461C/D/E/F 01 (NABL) 02 HASS/HALT Chambers Environment Chambers (-65degC to +175degC; 03 98% RH) EMI-EMC Test Environmental Chamber Vibration/ Shock Testing tables, Bump Test 04 M/c’s 05 Weiss Chamber 06 Power Quality Tests as per MIL STD 704 D
Slide 25: Product Range
Product Range Astra ha s designed, d e v e l o p e d a n d p r o d u c e d c r i t i c a l s u b s ys t e m s a n d systems for its c u s t o m e r s for building various airborne, naval a n d ground b a s e d p l a t f o r m s Radar, Missile E l e c t r oni c s , E l e c t r oni c Warfare, Satellit
Slide 26: Radar Electronics: Up to Ka band
Radar Electronics: Up to Ka band Homeland security • Counter UAV Radar – Drishti • Perimeter Intrusion Detection Radar • C-UAS System Design & Development of complete Active Array Antenna Unit (AAAU) hardware, Signal Processing & Radar Data Processing for AESA Multi- Function Radar The Ka-band elect
Slide 27: Electronic Warfare: Up to Ka band
Electronic Warfare: Up to Ka band Electronic Warfare Supplying various kind of EW sub systems and components to DPSUs and to the programs of Indian Airforce, Indian Navy and Indian Army. Also associated with Strategic Electronics Jammer's program of LCA Mk1A, Su-30 MKI and other fighter platforms in
Slide 28: Telemetry
Telemetry Supplying various sub- systems for Telemetry applications such as S- Band FM Transmitter Airborne RF Trans receiver, Ground Up Down Converters, C & S band switch antenna systems, Telemetry Tracking Systems etc. Supplying telemetry sub- systems to LCA and Intermediate Jet Trainer (IJT) airc
Slide 29: Space
Space Ground Application Designs, develops and manufactures components and sub-systems used in ground-based modules and S- level (on-board) modules. Astra have been among the key players for the development of sub-systems for India’s Radar Satellite & Geosynchronous Satellite program, Resourcesat, M
Slide 30: BTP vs BTS
BTP vs BTS The company's strong relationship with large corporations builds its brand equity and helps it in establishing itself as a prime contractor for large and longer-term programs in the marketplace. AMPL works on high-value complex projects awarded by companies. Build To Specifications o Rece
Slide 31: Strategy for Growth
Strategy for Growth New product development To accelerate growth • Develop products in close association with government research organizations for defence and space. • Gol has introduced policy measures promoting Indigenous shipbuilding. • Grow business by producing new and innovative products. • E
Slide 32: Growing defence products opportunity
Growing defence products opportunity India's extensive modernisation plans, an increased focus on homeland security to increase government allocation for defence expenditure along w i t h Make in India focus are e x p e c t e d to drive healthy grow th in the sector Growing Defence Budget (in Bn $)
Slide 33: Total Addressable Market
Total Addressable Market Major o p p o r t u n i t i e s for AMPL of around Rs 2 4 , 0 0 0 - 2 5 , 0 0 0 C r s across all sectors t i l l FY28. Radar Electronics I E l e c t r o n i c Warfare I Missiles I Te l e m e t r y I Space I Meteorology | Hydrology | Telecom 32
Slide 34: Opportunities
Opportunities Various government initiatives are encouraging the industry to develop the system either through in-house development or through foreign technology tie-up. Wide Array of Astra in alliance with System Knowledge of its partners aims to deliver the pr oduct that meets Government thrust o
Slide 35: Subsidiaries & JV
Subsidiaries & JV Overview • BEPL is a fully owned subsidiary of Astra Microwave • Established with State-of-the-Art manufacturing & test facilities to meet Global Standards. This combined with experienced manpower & stabilized processes ensure that the needs of various Industry Segments can be met
Slide 36: Esteemed Clientele
Esteemed Clientele Major stake in upcoming Defence Programs Light AAAU for AATRU Combat Uttam FOR ASPJ Ai r c r a ft AESA Radar AAAU for AEW&CS AAAU for LRMFR Medium Pow er Radar DTRMs L o n g Range Radar TRMs, BSNs, PS Radar Electronics I E l e c t r o n i c Warfare I Missiles I Te l e m e t r y I
Slide 37: Quality certifications
Quality certifications Industry Leading Certifications Radar Electronics I E l e c t r o n i c Warfare I Missiles I Te l e m e t r y I Space I Meteorology | Hydrology | Telecom 36
Slide 38: Awards & Accolades
Awards & Accolades Tripartite MoU for Uttam AESA G20 Space Economy Leadership LAToT Ceremony for AAAU for LCA Mk1A Meet Counter Drone System Aero India 2023 Radar Electronics I E l e c t r o n i c Warfare I Missiles I Te l e m e t r y I Space I Meteorology | Hydrology | Telecom 37
Slide 39: CSR
CSR Our Contribution towards the Society Eradicating hunger, poverty Promoting education and malnutrition Ensuring environmental Promoting gender equality sustainability Protection of national Benefit of armed forces heritage veterans Training to promote rural Contribution to the PM's sports Nationa
Slide 40: Historical Financials
Historical Financials 39
Slide 41: Standalone Profit & Loss
Standalone Profit & Loss PARTICULARS (Rs. In Cr) FY24 FY23 FY22 FY21 FY20 Revenue from Operations 904 807 735 589 462 Total Raw Material 551 519 524 418 267 Gross Profit 353 289 211 171 195 Gross Profit Margin 39.1% 35.7% 28.7% 29.0% 42.2% Employee Expenses 104 87 73 64 66 Other Expenses 55 52 51 42
Slide 42: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. In Cr) Mar-24 Mar-23 Mar-22 Mar-21 Mar-20 EQUITY AND LIABILITIES (Rs. In Cr) Mar-24 Mar-23 Mar-22 Mar-21 Mar-20 Non-Current Assets 249 228 215 202 213 Equity and Liabilities 968 653 590 561 547 Property, plant and equipment 169 165 158 150 158 Equity share capita
Slide 43: Consolidated Profit & Loss
Consolidated Profit & Loss PARTICULARS (Rs. In Cr) FY24 FY23 FY22 FY21 FY20 Revenue from Operations 909 816 750 641 467 Raw Material Consumption 546 518 527 446 265 Gross Profit 363 297 223 195 202 Gross Profit Margin 39.9% 36.4% 29.7% 30.4% 43.2% Employee Expenses 114 95 81 71 71 Other Expenses 58
Slide 44: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. In Cr) Mar-24 Mar-23 Mar-22 Mar-21 Mar-20 EQUITY AND LIABILITIES (Rs. In Cr) Mar-24 Mar-23 Mar-22 Mar-21 Mar-20 Non-Current Assets 239 206 197 186 207 Equity and Liabilities 966 643 586 559 540 Property, plant and equipment 167 166 159 153 161 Equity share capi
Slide 45: Thank You
Thank You For more information please contact: Company: Astra Microwave Products Limited CIN No: L293091G1991PLC013203 Mr. T. Anjaneyulu, GM – Company Secretary Email id: secretarial@astramwp.com Investor Relations Advisors: Strategic Growth Advisors Pvt Ltd. CIN No: U74140MH2010PTC204285 Shikha Pur
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