Astra Microwave Products Ltd. · NSE:ASTRAMICRO
Astra Microwave Products — Q4 FY26 Earnings Presentation
42 slides from Astra Microwave Products's earnings presentation, May 26, 2026
Slide 1: Exchange filing cover letter
ASTRA MICROWAVE PRODUCTS LIMITED Regd. Office: ASTRA Towers, Survey No. 12(P), Kothaguda Post, Kondapur, HITEC City, Hyderabad - 500084, Telangana, INDIA Tel:+91-40-46618000, 46618001. Fax:+91-40-46618048 Email:mktg@astramwp.com,website:www.astramwp.com CIN: L29309TG1991PLC013203 May 26, 2026 To To
Slide 2: Astra Microwave Products Limited Investor Presentation May 2026
Astra Microwave Products Limited Investor Presentation May 2026
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: Performance Highlights
Performance Highlights Margins Revenue (Rs. Cr) EBITDA (Rs. Cr) PAT (Rs. Cr) +11% 29.6% 32.8% 25.5% 28.0% 18.6% 21.6% 13.7% 15.4% 1,156 +22% 1,044 324 +24% Standalone +20% +34% 266 +40% 178 143 487 160 405 105 120 75 Q4FY25 Q4FY26 FY25 FY26 Q4FY25 Q4FY26 FY25 FY26 Q4FY25 Q4FY26 FY25 FY26 +11% 29.3%
Slide 5: Robust Order Book (Standalone) (1/2)
Robust Order Book (Standalone) (1/2) Defence / Public Sector Space Meteorological Exports DRDO, MOD, IAF, Army, Navy, HAL, BEL ISCO, SAC, IMD: DWR, Wind Profiler IMD: DWR, Wind Profiler Israel, Singapore, EU OEMs Historical Orderbook (Rs. Cr.) Orderbook Built-up (Rs. Cr.) FY21 723 72 223 543 1,561 4
Slide 6: Robust Order Book (Standalone) (2/2)
Robust Order Book (Standalone) (2/2) Major Orders Received in Q4 FY26 Top 10 Orders Received in FY26 Product Customer Order Type Value (Rs. Cr) Product Customer Order Type Value (Rs. Cr) Development + Radar BEL Production 79.7 Meteorology IMD 145.2 Production Radar ARC Production 67.4 Radar DRDO Pro
Slide 7: Revenue Break-up
Revenue Break-up Revenue Split By Segment (Rs. Cr) Revenue Break-up in % Q4FY26 Q3FY26 Q2FY26 Q1FY26 Q4FY25 Defence 58.4% 81.8% 77.4% 86.4% 84.0% Space 19.5% 2.6% 2.0% 2.4% 5.2% Exports including Deemed Exports 16.9% 11.5% 14.2% 10.0% 7.2% Meteorological 4.9% 3.4% 5.8% 0.4% 2.4% Others 0.3% 0.7% 0.6
Slide 8: Industry Leading Customers
Industry Leading Customers FY26 Revenue by Customer (Standalone Rs. 1,155 Cr) 3.0% # Customer / Category % Mix Nature of Business 9.4% 1 DRDO 28.2% Development + Production 28.2% 6.4% 2 BEL & Other DPSUs 22.7% Production 3 IMD / Met Dept 18.0% DWR, Wind Profiler 11.9% 4 BSF 0.3% Development 0.3% 5 E
Slide 9: Working Capital Metrics
Working Capital Metrics Debtors Days Inventory Days 273 213 200 204 193 180 179 216 203 157 128 100 FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 Creditor Days Cash Conversion Cycle (Days) 36 36 459 371 374 26 27 315 22 274 287 20 FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25
Slide 10: Standalone Profit & Loss
Standalone Profit &Loss PARTICULARS (Rs. In Cr) Q4FY26 Q4FY25 YOY FY26 FY25 YOY Revenue from Operations 487 405 20.4% 1,156 1,044 10.7% Raw Material Consumption 249 221 588 586 Gross Profit 238 184 29.5% 568 458 24.0% Gross Profit Margin 48.9% 45.5% 49.1% 43.9% Employees Expenses 54 42 154 131 Other
Slide 11: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. In Cr) Mar-26 Mar-25 EQUITY AND LIABILITIES (Rs. In Cr) Mar-26 Mar-25 Non-Current Assets 359 293 Equity and Liabilities 1,291 1,090 Property, plant and equipment 256 221 Equity share capital 19 19 Right-of-use assets 1 0 Capital WIP 9 0 Equity attributable to own
Slide 12: Standalone Cashflow Statement
Standalone Cashflow Statement Cash Flow Statement (Rs. in Cr) FY26 FY25 Profit Before Taxes 245 193 Changes in working capital 204 -252 Cash generated from operations 449 -58 Direct taxes paid (net of refund) -73 -41 Net Cash from Operating Activities 376 -99 Net Cash from Investing Activities -86 -
Slide 13: Consolidated Profit & Loss
Consolidated Profit &Loss PARTICULARS (Rs. In Cr) Q4FY26 Q4FY25 YOY FY26 FY25 YOY Revenue from Operations 488 408 19.7% 1,163 1,051 10.6% Raw Material Consumption 242 220 571 577 Gross Profit 246 188 30.8% 592 474 25.0% Gross Profit Margin 50.3% 46.1% 50.9% 45.1% Employee Expenses 58 46 166 142 Othe
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. In Cr) Mar-26 Mar-25 EQUITY AND LIABILITIES (Rs. In Cr) Mar-26 Mar-25 Non-Current Assets 367 294 Equity and Liabilities 1,314 1,098 Property, plant and equipment 261 223 Equity share capital 19 19 Capital WIP 9 3 Right-of-use assets 1 Equity attributable to own
Slide 15: Consolidated Cashflow Statement
Consolidated Cashflow Statement Cash Flow Statement (Rs. in Cr) FY26 FY25 Profit Before Taxes 261 204 Changes in working capital 199 -253 Cash generated from operations 460 -49 Direct taxes paid (net of refund) -73 -41 Net Cash from Operating Activities 387 -90 Net Cash from Investing Activities -85
Slide 16: Company Overview
@& Astra Microwave Products Ltd. Company Overview
Slide 17: Defence & Space Sector company with 30+ years of experience
Defence & Space Sector company with 30+ years of Products o Defence o Antenna experience in Radar, EW & o Space o GNSS Solutions o Metrology o Unmanned Ground Strategic Electronics domain o Homeland Security Vehicles o Systems o RF PCB Production Proven track record of making high value-added SYSTEM
Slide 18: Astra Refael Comsys (Joint Venture)
o Delivering unprecedented network capacity in terms of data rates, Astra Refael Comsys (Joint Venture) number of users and minimal delay Software Define Radios o BNET enables all land, sea and air radio units to participate in a single, seamless, scalable mobile ad hoc network (MANET) o Products BN
Slide 19: Board of Directors Driving Strategy Through Diverse Expertise
Board of Directors Driving Strategy Through Diverse Expertise… Managing Director Joint Managing Director • Graduate in Science and Mathematics and Fellow Chartered Accountant. • Graduate in Engineering (Electronics) and a Postgraduate in Business Administration. • Worked in private sector industry a
Slide 20: Supported by Strong Team to Deliver Innovation and Excellence
.. Supported by Strong Team to Deliver Innovation and Excellence Key personnels Total workforce (as of March 3 1 s t , 2 0 2 6 ) Pravin Mandrupkar B. M. Chandrakanth ⟩⟩ ⟩⟩ 704 R&D professionals including VP - R&D Design VP - Marketing Head C. Vinod Kumar 93with Masters degree V. Saravana Kumar ⟩⟩ GM
Slide 21: A Journey of Advancement
A Journey of Advancement 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 16 17 Delivered Phased 15 Telecom Electronics 2003 Array Telemetry Subsystems 1991 05 06 System 1993 2023 Complete
Slide 22: State of the Art Infrastructure
State of the Art Infrastructure Design & Engineering Functional Testing Quality Control Environmental Testing • Electronics for Space: Radiation- • Near Field Test Range (NFTR) • Stringent Quality Standards (ISO- • HASS/HALT Chambers hardened components, advanced 9001, ISO-14001, ISO-27001, ISO- • D
Slide 23: Radar Electronics
The Indian Radar Market is projected to be ~RS. 12,200 crores by 2033 Radar Electronics growing at a CAGR of 20.62% Astra is well positioned to capture the growing opportunity with a total standalone order book of Rs. 2,141 Cr as of March 2026 Multiple End Use Industries Defence o Surveillance and r
Slide 24: Electronic Warfare
The Indian EW market is projected to grow to ~Rs. 9,500 Crores by 2033 growing at a Electronic Warfare CAGR of 4.47% Involved in indigenous EW development in aligning with India’s self reliance goals. India is strengthening EW capabilities through Multiple End Use Industries contracts, partnerships
Slide 25: Telemetry
Indian defence electronics sector (which includes telemetry) is expected to reach Rs. 65,000– 70,000 crores by 2026-27, growing at 14% Telemetry CAGR Supplies telemetry subsystems for platforms like the LCA Tejas and IJT aircraft. Multiple End Use Industries Defence o Missile testing and evaluation
Slide 26: Space Electronics
Board of Directors has given in-principle approval to demerge the Space, Meteorology and Hydrology business undertakings of the Company into a separate entity. Space Electronics • Enable a focused management attention and operational efficiency by creating an independent company exclusively dedicate
Slide 27: Meteorology
India’s industrial meteorology sector is expanding with the ‘Industry 5.0’ push Meteorology Active in meteorology (Mission Mausam) Multiple End Use Industries Aerospace o Engine part calibration PLI schemes indirectly benefit ⟩⟩ o High-precision component testing meteorology equipment makers o Aviat
Slide 28: Hydrology
India’s market size is Rs. 1,634 crores (2024), growing to ~Rs. 2,900 crores by 2033 Hydrology Supplies sensors for hydrological equipment making a significant share Multiple End Use Industries Agriculture o Irrigation planning and optimisation Rs. 99,503 Crore was allocated to Jal ⟩⟩ o Water resour
Slide 29: Subsidiaries & JV
Subsidiaries & JV Subsidiaries Joint Ventures NAVICTRONICS Pvt Ltd • Astra Defence Technologies Pvt Ltd, • A fabless MMIC Design House, based in • Astra Space Technologies Private Limited • Astra Microwave Products Ltd and M/s • Astra Microwave Products Limited and formerly known as Bhavyabhanu Sing
Slide 30: LEAP Framework for Growth
LEAP Framework for Growth Complements organic growth strategy with an aim to unlock value from the significant IP and technology base built over the past three decades, with strong contributions from Defense Labs and PSUs. By leveraging Astra’s reusable technology blocks and extensive in-house produ
Slide 31: Defence Industry Set For Expansion
Defence Industry Set For Expansion Strategic Vision Atmanirbhar, Agrani, and Atulya Bharat 2047 India envisions becoming a global leader in the defence landscape by achieving self – reliance, Budget Allocation 2026-27 (B) excelling as a prominent exporter, and pioneering advancements in critical nic
Slide 32: Total Addressable Market
Total Addressable Market Major o p p o r t u n i t i e s for AMPL of a ro und Rs 2 4 , 0 0 0 - 2 5 , 0 0 0 C r s across all sectors t i l l FY28. 31
Slide 33: Esteemed Clientele
Esteemed Clientele Major stake in upcoming Defence Programs Light AAAU for AATRU Combat Uttam FOR ASPJ Aircraft AESA Radar AAAU for AEW&CS AAAU for LRMFR M e d i u m Power Radar DTRMs L o n g Range Radar TRMs, BSNs, PS 32
Slide 34: Industry Leading Quality Certifications
Industry Leading Quality Certifications 33
Slide 35: Awards & Accolades
Awards & Accolades Recent Event Participation Events Participation In The Past Mission Mausam Tripartite MoU for Uttam AESA AAAU for LCA Mk1A 𝟳𝘁𝗵 𝗜𝗻𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗘𝗹𝗲𝗰𝘁𝗿𝗼𝗻𝗶𝗰 LAToT Ceremony for Counter 𝗪𝗮𝗿𝗳𝗮𝗿𝗲 𝗖𝗼𝗻𝗳𝗲𝗿𝗲𝗻𝗰𝗲 – 𝗜𝗻𝗱𝗶𝗮 𝟮𝟬𝟮𝟲 Drone System…
Slide 36: 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 37: Historical Financials
@& Astra Microwave Products Ltd. Historical Financials
Slide 38: Standalone Profit & Loss
Standalone Profit & Loss PARTICULARS (Rs. In Cr) FY26 FY25 FY24 FY23 FY22 Revenue from Operations 1,156 1,044 904 807 735 Total Raw Material 588 586 551 519 524 Gross Profit 568 458 353 289 211 Gross Profit Margin 49.1% 43.9% 39.1% 35.7% 28.7% Employee Expenses 154 131 104 87 73 Other Expenses 90 60
Slide 39: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. In Cr) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 EQUITY AND LIABILITIES (Rs. In Cr) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 Non-Current Assets 359 293 249 228 215 Equity and Liabilities 1,291 1,090 968 653 590 Property, plant and equipment 256 221 166 165 158 19 19 19 17 Equ
Slide 40: Consolidated Profit & Loss
Consolidated Profit & Loss PARTICULARS (Rs. In Cr) FY26 FY25 FY24 FY23 FY22 Revenue from Operations 1,163 1,051 909 816 750 Raw Material Consumption 571 577 546 518 527 Gross Profit 592 474 363 297 223 Gross Profit Margin 50.9% 45.1% 39.9% 36.4% 29.7% Employee Expenses 166 142 114 95 81 Other Expens
Slide 41: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. In Cr) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 EQUITY AND LIABILITIES (Rs. In Cr) Mar-26 Mar-25 Mar-24 Mar-23 Mar-22 Non-Current Assets 367 294 239 206 197 Equity and Liabilities 1,314 1,098 966 643 586 Property, plant and equipment 261 223 167 166 159 Equity share
Slide 42: Thank You
Thank You Company: Investor Relations Advisors: Astra Microwave Products Limited Strategic Growth Advisors Pvt Ltd. CIN No: L293091G1991PLC013203 CIN No: U74140MH2010PTC204285 Mr. T. Anjaneyulu, GM – Company Secretary Shikha Puri / Dharmik Kansara Email id: secretarial@astramwp.com Email id: shikha.
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