Astra Microwave Products Ltd. · NSE:ASTRAMICRO
Astra Microwave Products — Q2 FY2023 Earnings Presentation
52 slides from Astra Microwave Products's earnings presentation, Nov 10, 2022
Slide 1: Cover letter to BSE and NSE
ASTRA MICROWAVE PRODUCTS LIMITED Regd. Office ASTRA Towers, Survey No. 12(P), Kothaguda Post, Kondapur, Hitechcity, Hyderabad, Telangaria. INDIA - 500084 Tel : + 91 40 46618000, 46618001, Fax : + 91 4046618048 Email : info@astramwp.com . website : www.astramwp.com CIN: L29309TG1991PLC013203 November
Slide 2: Investor Release: Q2FY23 Standalone Results
Investor Release ASTRA MICROWAVE PRODUCTS LIMITED Q2FY23 Standalone Results Thursday, 10th November 2022, Hyderabad – Astra Microwave Products Limited, engaged in the business of design, development and manufacture of RF and Microwave Components, sub-systems and systems used in defense, space, meteo
Slide 3: Standalone H1 FY23 Result Highlights
Investor Release Standalone H1 FY23 Result Highlights • The Revenue stood at Rs. 332.1 crores for H1FY23 as against Rs. 297.0 crores for H1FY22; growth of 12% YoY. • Gross profit increased by 51% to Rs. 125.7 crores in H1FY23 vs Rs. 83.3 crores H1FY22 • Our H1FY23 EBITDA of Rs. 65.4 crores was more
Slide 4: Investor Release: About Astra Microwave
Investor Release Self-reliance in defence has been the foundation of India’s new defence production policy. Atmanirbhar Bharat Abhiyan has created growth horizons for the Indian defence companies. We will continue our focus on Build To Specification (BTS) opportunities for both domestic as well as g
Slide 5: Investor Presentation – Q2 FY23
Investor Presentation – Q2 FY23
Slide 6: 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 7: Quarterly Highlights
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Slide 8: Segmental Revenue Break-up
Segmental Revenue Break-up Q2FY23 H1FY23 0.5% 0.4% 27.9% 33.5% 4.3% 61.9% 0.8% 66.5% 3.6% 0.6% Defence Meteorological Others Space Exports including Deemed Exports Break up of revenue on Gross Sales basis 4
Slide 9: Robust Orderbook
Robust Orderbook Historical Orderbook Build-Up Orderbook Updates (Rs. in Crs) Total orders received during the quarter -1% 1,852 1,561 1,551 1,383 Sno Segment Name Amount (Cr) 1,167 543 999 252 745 103 264 254 1 Defence 328.88 60 223 60 72 205 218 459 51 36 163 740 817 723 2 Exports 0.42 135 550 599
Slide 10: Major stake in upcoming Defense Programs
Major stake in upcoming Defense Programs AAAU for AEW&CS Light Combat Aircraft AATRU FOR ASPJ AAAU for Uttam AESA Radar AAAU for LRMFR Long Range Radar TRMs, BSNs, PS Medium Power Radar DTRMs 6
Slide 11: Performance Highlights
Performance Highlights Revenue (Rs. in Crs) EBIDTA (Rs. in Crs) PAT (Rs. in Crs) +12% 6.0% 23.7% 10.7% 19.7% 1.7% 13.2% 4.2% 10.2% 332 297 +106% +170% Standalone 65 34 -3% +672% +280% 177 171 23 41 32 13 11 3 Q2FY22 Q2FY23 H1FY22 H1FY23 Q2FY22 Q2FY23 H1FY22 H2FY23 Q2FY22 Q2FY23 H1FY22 H1FY23 6.7% 22
Slide 12: Q2 FY23 Standalone Profit & Loss Statement
Q2 FY23 Standalone Profit & Loss Statement PARTICULARS (Rs. In Cr) Q2FY23 Q2FY22 YOY H1FY23 H1FY22 YOY Revenue from Operations 170.9 176.8 -3.4% 332.1 297.0 11.8% Total Raw Material 101.8 140.5 206.4 213.7 Gross Profit 69.1 36.4 90.0% 125.7 83.3 51.0% Gross Profit Margin 40.4% 20.6% 37.9% 28.0% Empl
Slide 13: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. In Cr) Sep-22 Mar-22 EQUITY AND LIABILITIES (Rs. In Cr) Sep-22 Mar-21 Non-Current Assets 216 215 Equity and Liabilities 612 590 Property, plant and equipment 154 158 Equity share capital 17 17 Capital WIP 0 0 Equity attributable to owners of the Investment in Ass
Slide 14: Company Overview
Company 4 Overview
Slide 15: Astra: A Company With Deep Domain Expertise
Astra: A Company With Deep Domain Expertise… With over 30 years of experience in in microwave radio-frequency (RF) applications, Astra has moved up the value chain from sub-systems to high value-added systems. The company’s products find applications in high end markets of Defense, Space, Telecom, M
Slide 16: Poised for Strong Growth Amidst Sectoral Tailwinds
… Poised for Strong Growth Amidst Sectoral Tailwi nds ▪ Astra has a proven track record of 2 making high value-added SYSTEMS, RF and microwave super 1 Government of components and sub-systems India’s Atma Nirbhar which are becoming more relevant Defence spend in India has Bharat initiatives due to v
Slide 17: Longstanding Position in the Industry
Longstanding Position in the Industry 13
Slide 18: Product Range
Product Range Astra Microwave has designed, developed and produced critical sub-systems and systems for its customers for building various airborne, naval and ground based platforms Defence Space ▪ Radars ▪ Flight Model Application ▪ Electronic Warfare ▪ Ground based Application ▪ Strategic Electron
Slide 19: What We Offer
What We Offer Systems ▪ Design ▪ Manufacturing ▪ Integration ▪ Testing & Qualification ▪ Installation & Commissioning Components & MMICs ▪ Design ▪ Prototyping ▪ Testing & Qualification Subsystems ▪ Production BTS: ▪ Design ▪ Prototyping ▪ Testing & Qualification ▪ Production BTP: ▪ Bulk Production
Slide 20: Esteemed Clientele
Esteemed Clientele The Brand Names and Logos mentioned are the property of their respective owners and are used here for identification purposes only 15
Slide 21: Geographic Distribution of Global Clientele
Geographic Distribution of Global Clientele Note : Maps not to scale. All data , information are provided ‘’as is’’ without warranty any representation of accuracy , timeliness or completion 16
Slide 22: Strong R&D Capabilities
Strong R&D Capabilities… Through its focus on R&D, the company develops innovative designs useful for the manufacture of cost-effective products Key product developments Engineering Capabilities Strong in-house capability in the ▪ In-house PCB assembly facility microwave radio-frequency (RF) ▪ In-ho
Slide 23: Serving Markets Through Build To Specifications (BTS) Orders
Serving Markets Through Build To Specifications (BTS) Orders and… 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 proje
Slide 24: Build To Print (BTP) Orders
… Build To Print (BTP) Orders Astra Microwave has produced more than USD 150 million worth of high-end modules under BTP route Receipt of order from global OEMs Approval from Authority Production ▪ Works with many foreign OEMS for producing their ▪ Once the prototype is approved by the ▪ Production
Slide 25: Product Overview
Product Overview
Slide 26: Expertise & Capabilities of Astra (1/2)
Expertise & Capabilities of Astra (1/2) Overview AWACS ▪ It has been a supplier of TRMs to India’s AEW & CS programs. ▪ It has the capability of design and development of TRMs. Majority of TRM developed by Astra Microwave have been built using MMIC designed and developed by Astra Microwave ▪ It has
Slide 27: Expertise & Capabilities of Astra (2/2)
Expertise & Capabilities of Astra (2/2) Overview Missiles ▪ Leading company in India to design, develop and supply Radio Proximity Fuze, Airborne Diplexer, Transponder, transmitter, Command Guidance Unit etc. ▪ It has been associated with the program to develop AESA Seekers for Akash NG missiles. ▪
Slide 28: Diverse Offerings – Space Subsystems
Diverse Offerings – Space Subsystems UHF Band: Payload (LNA, Down Convert, IF Sub Channel Units) for GSAT7 S Band: Data QPSK Data Transmitters for ResourceSat-2 mission, BPSK Data Transmitters for Megha-Tropique mission. TRiM, TTC C Band: Receivers, C Band SSPA5W (IRNSS), TRMs, Integration Block, Ca
Slide 29: Diverse Offerings – Electronic Warfare Subsystems
Diverse Offerings – Electronic Warfare Subsystems 25
Slide 30: Diverse Offerings – Telemetry & Strategic Electronics
Diverse Offerings – Telemetry & Strategic Electronics 26
Slide 31: Diverse Offerings – Hydro/Meteorology Products
Diverse Offerings – Hydro/Meteorology Products ▪ SSPA-based Doppler Weather Radar ▪ Avalanche Radar ▪ Satellite based Multi Mission Meteorological Data Receiving Earth Station ▪ Water Level Measurement (Bubbler/Radar Sensor) ▪ Automatic Weather Stations (AWS) ▪ Agromet Meteorological Stations (AMS)
Slide 32: Diverse Offerings – Others
Diverse Offerings – Others MMIC Products ▪ Multi-functional Chips ▪ Wide-band Spiral Antennas ▪ Integrated Core Chip ▪ Sectoral Horn Antennas ▪ Power Amplifiers ▪ Sectoral BLI Antennas ▪ Ultra Low Noise Amplifiers ▪ Horn Antennas ▪ Phase Shifters ▪ Micro strip Antennas ▪ Broadband Digital Attenuator
Slide 33: Diverse Offerings – Systems
Diverse Offerings – Systems Pulsed Phased Array Tracking Radar Phased Array Telemetry (PATM) T&E Facility for Radar EW Systems (PPTR) Bird Detection & AAAU for Ship- AAAU for Counter- Fixed Head Coastal Ground Surv. Doppler Radar Surv. Monitoring Radar Borne Radar Uttam AESA Drone Radar (FHDR) Radar
Slide 34: Way Forward
Way Forward
Slide 35: Indian Defence Industry is Growing
Indian Defence Industry… is Growing India’s extensive modernisation plans, an increased focus on homeland security to increase government allocation for defence expenditure along with Make in India focus are expected to drive healthy growth in the sector Large & growing market….. ….with strong secto
Slide 36: DAP 2020: Make & Innovation Policies
DAP 2020: Make & Innovation Policies ▪ Projects involving design and development of equipment, systems, major platforms or upgrades thereof by the Make I (Government Funded) industry. For Projects under Make-I sub-category, MoD will provide financial support upto 70% of prototype development cost or
Slide 37: Our Strategy for Growth
Our Strategy for Growth… Key Business Strategy New product development to Focus on Research & Joint Ventures and Strategic Reap benefits of sectoral accelerate growth Development alliances tailwinds ▪ Through JV or strategic alliances, ▪ By doing extensive investments to offer improved technology an
Slide 38: In the Changing Landscape of Opportunities
… In the Changing Landscape of Opportunities India’s Astra Wide Array of Opportunities due to Government Initiatives Strategic Electronic Telemetry ▪ Various government initiatives are encouraging the industry to develop the Ready for electronic Sub-systems warfare Command guidance units system eith
Slide 39: Historical Financials
Historical Financials
Slide 40: Historical Performance Highlights
Historical Performance Highlights Revenue (Rs. in Crs) EBIDTA (Rs. in Crs) PAT (Rs. in Crs) 735 +19% Standalone 589 110 61 462 84 87 47 361 64 40 286 24 30 13 FY 18 FY 19 FY 20 FY 21 FY 22 FY 18 FY 19 FY 20 FY 21 FY 22 FY 18 FY 19 FY 20 FY 21 FY 22 750 Consolidated +20% 641 111 61 467 82 89 79 366 4
Slide 41: Historical Standalone Profit & Loss
Historical Standalone Profit & Loss PARTICULARS (Rs. In Cr) FY22 FY21 FY20 FY19 FY18 Revenue from Operations 735.0 589.2 461.6 286.2 360.5 Total Raw Material 524 418 267 159 152 Gross Profit 211.2 170.7 194.7 126.9 208.5 Gross Profit Margin 28.7% 29.0% 42.2% 44.3% 57.8% Employee Expenses 73 64 66 61
Slide 42: Historical Standalone Balance Sheet
Historical Standalone Balance Sheet ASSETS (Rs. In Cr) Mar-22 Mar-21 Mar-20 Mar-19 Mar-18 EQUITY AND LIABILITIES (Rs. In Cr) Mar-22 Mar-21 Mar-20 Mar-19 Mar-18 Non-Current Assets 215 202 213 222 217 Equity and Liabilities 590 561 547 503 502 Property, plant and equipment 158 150 158 176 193 Equity s
Slide 43: Annexure
Annexure
Slide 44: State of the Art Infrastructure
State of the Art Infrastructure… Astra has advanced in-house facilities for lower turnaround time for product realization appreciated by domestic and foreign customers Hyderabad, Telangana Karnataka Unit I Unit II Unit III Unit IV Unit VII Bengaluru Unit Clean room compatible oven for curing epoxy T
Slide 45: Assembly, Functional & Environment Testing
…for Assembly, Functional & Environment Testing Assembly Infrastructure Functional Testing Environment Testing ▪ 450,000 sq. ft. of research, design, development and ▪ Near Field Test Range (NFTR) ▪ EMI/EMC Test facility manufacturing across 6 units ▪ Digital Signalling ▪ HASS/HALT Chambers ▪ Fully
Slide 46: Significant Entry Barriers
Significant Entry Barriers Industry Leading Certifications 42
Slide 47: Awards & Accolades
Awards & Accolades Testimony of Consistent Performance LAToT Ceremony for Coastal Surveillance Radar Excellence in Innovation, Design Technology, R&D 2021 Counter-Drone System LAToT Handing over Ceremony Award for Excellence in Aerospace Indigenisation-2021 ELCINA EFY Award for Business Excellence 4
Slide 48: Guided by Eminent Board of Directors
Guided by Eminent Board of Directors • Former Secretary, Defence R&D and Director General, DRDO • Eminent scientist in the field of missiles and has been a pioneer in Strapdown Inertial navigation & Guidance • Instrumental in development of several critical technologies in the field of radars, simul
Slide 49: Our Intellectual Capital
Our Intellectual Capital Astra has a highly experienced workforce (including 401 technocrats of which two are Doctorates) which keeps the company on forefront of technology. Its employees are continuously trained through in-house workshops and external programs Total workforce (as on March 31st, 202
Slide 50: Our Subsidiaries & JV
Our 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 man power & stabilized processes ensure that the needs of various Industry Segments can be
Slide 51: CSR
CSR Our Contribution towards the Society Eradicating hunger, poverty Ensuring environmental Protection of national Promoting education Promoting gender equality and malnutrition sustainability heritage Benefit of armed forces Training to promote rural Contribution to the PM’s Funds provided to Rural
Slide 52: Thank You
Thank You For more information please contact: Astra Microwave Products Limited CIN No: L293091G1991PLC013203 Mr. T. Anjaneyulu, GM – Company Secretary Email id: secretarial@astramwp.com Strategic Growth Advisors Pvt Ltd. CIN No: U74140MH2010PTC204285 Shikha Puri / Dharmik Kansara Email id: shikha.p
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