Astra Microwave Products (AMPL) designs, develops and manufactures sub-systems for RF and microwave systems used in defence, space, meteorology, and telecommunication.
Astra Microwave Products has bagged orders worth Rs 158 crore for the supply of Satellite sub-systems, Airborne Radar and sub-systems of Radar and EW projects. The company has bagged orders from DRDO, ISRO and DPSUs. In the first quarter of the current fiscal, the company logged a revenue of Rs 132.9 crore against Rs 161.2 crore for Q1 of FY23.
The geographical spread of total revenue for the quarter stands as follows — India 40% and exports 60% which was completely the other way around in FY23, i.e., India 60% and exports 40%. The gross margins slipped to 27.5% for Q1 of FY24 against 35.1% in Q1 of FY23 last year on the decline in gross margins, which is mainly due to higher contribution from the export business.
AMW reported subdued Q1FY24 earnings as performance was mainly impacted by a higher proportion of export sales and low-margin domestic sales. As high-margin domestic orders are likely to be executed from Q3FY24, the prospects remain bright.
Astra Microwave Products is currently trading at Rs 391, up by 21 points or 5.68% from its previous closing of Rs 370 on the BSE. The scrip opened at Rs 388.05 and touched a high and low of Rs 398.60 and Rs 377.65, respectively. So far 162821 shares have been traded on the counter.
The BSE group ‘A’ stock of face value of Rs 2 has touched a 52-week high of Rs 398.60 and a 52-week low of Rs 213.15. Last one week high and low of the scrip stood at Rs 398.60 and Rs 346.30, respectively. The current market cap of the company is Rs 3702.86 crore. The promoters holding in the company stood at 6.54%, while Institutions and Non-Institutions held 12.89% and 80.58%, respectively.
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