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Astra Microwave Products Ltd.
(ASTRAMICRO)
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Rating:70Outperform
Price Target:
₹1,784.00
▼(-1.68% Downside)
Action:Upgraded
Date:08/01/26
The score is driven primarily by strong financial performance (revenue and margin expansion with a solid balance sheet) and a clearly bullish price trend versus key moving averages. These positives are partly offset by elevated valuation risk (very high P/E and minimal dividend yield) and historically inconsistent cash-flow generation despite the strong improvement in 2026.
Positive Factors
Sustained Revenue and Margin Expansion
Consistent revenue growth alongside substantial net and operating margin expansion indicates stronger earnings capacity and improving operating leverage. If sustained, this performance can support reinvestment, strengthen the company’s position in specialized electronics, and improve resilience over the next several quarters.
Negative Factors
Historically Volatile Cash Generation
The repeated historical periods of negative operating and free cash flow show that reported earnings have not converted consistently into cash. Even with a strong 2026 rebound, this volatility may complicate funding, working-capital management, and the timing of investment in long-cycle customer programs.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue and Margin Expansion
Consistent revenue growth alongside substantial net and operating margin expansion indicates stronger earnings capacity and improving operating leverage. If sustained, this performance can support reinvestment, strengthen the company’s position in specialized electronics, and improve resilience over the next several quarters.
Read all positive factors
Astra Microwave Products Ltd. (ASTRAMICRO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹154.01B
Dividend Yield0.15%
Average Volume (3M)32.46K
Price to Earnings (P/E)80.8
Beta (1Y)1.06
Revenue Growth4.02%
EPS Growth16.28%
CountryIN
Employees1,880
SectorGeneral
Sector StrengthN/A
IndustryCommunication Equipment
Share Statistics
EPS (TTM)19.91
Shares Outstanding94,945,010
10 Day Avg. Volume17,671
30 Day Avg. Volume32,456
Financial Highlights & Ratios
PEG Ratio1.64
Price to Book (P/B)6.18
Price to Sales (P/S)6.99
P/FCF Ratio29.28
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)25.2
Revenue Forecast (FY)₹13.53B
Astra Microwave Products Ltd. Business Overview & Revenue Model
Company Description
Headquartered in Hyderabad, India, Astra Microwave Products Limited, established in 1991, is a leading designer, developer, and manufacturer of advanced radio frequency (RF) and microwave sub-systems. These sophisticated solutions are vital for ap...
How the Company Makes Money
The company makes money primarily by selling RF and microwave products and by executing engineering/manufacturing work for customers that build or operate radar, electronic warfare, satellite/space, and telecom/communication systems. Key revenue s...
Astra Microwave Products Ltd. Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
78
Positive
Cash Flow
62
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.40B | 11.63B | 10.51B | 9.09B | 8.16B | 7.52B |
| Gross Profit | 4.67B | 3.82B | 4.56B | 3.45B | 2.82B | 2.09B |
| EBITDA | 3.48B | 3.60B | 2.66B | 1.90B | 1.47B | 934.25M |
| Net Income | 1.89B | 1.93B | 1.54B | 1.21B | 698.29M | 378.71M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 19.88B | 18.51B | 14.74B | 10.57B | 9.69B |
| Cash, Cash Equivalents and Short-Term Investments | 2.53B | 2.42B | 981.69M | 1.26B | 1.06B | 760.17M |
| Total Debt | 0.00 | 2.88B | 4.24B | 2.38B | 1.85B | 704.03M |
| Total Liabilities | -13.15B | 6.73B | 7.53B | 5.08B | 4.14B | 3.83B |
| Stockholders Equity | 13.15B | 13.15B | 10.98B | 9.66B | 6.43B | 5.86B |
Cash Flow | ||||||
| Free Cash Flow | 2.24B | 2.78B | -1.62B | -2.25B | -593.61M | 867.36M |
| Operating Cash Flow | 2.38B | 3.55B | -901.47M | -1.82B | -254.71M | 1.15B |
| Investing Cash Flow | -168.43M | -916.24M | -763.22M | -435.75M | -281.94M | -259.74M |
| Financing Cash Flow | -1.44B | -1.58B | 1.41B | 2.32B | 747.81M | -787.36M |
Astra Microwave Products Ltd. Technical Analysis
Neutral
1814.40
Price Trends
1725.58
Negative
1557.68
Positive
1256.10
Positive
Market Momentum
-21.78
Positive
41.16
Neutral
21.92
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ASTRAMICRO, the sentiment is Neutral. The current price of 1814.4 is above the 20-day moving average (MA) of 1676.58, above the 50-day MA of 1725.58, and above the 200-day MA of 1256.10, indicating a neutral trend. The MACD of -21.78 indicates Positive momentum. The RSI at 41.16 is Neutral, neither overbought nor oversold. The STOCH value of 21.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:ASTRAMICRO.
Astra Microwave Products Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹154.01B | 80.75 | ― | 0.15% | 4.02% | 16.28% | |
61 Neutral | ₹326.25B | 54.54 | ― | 0.05% | 58.66% | 1518.05% | |
59 Neutral | ₹420.46B | 166.09 | ― | 0.65% | 18.90% | ― | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | ₹91.68B | -10.21 | ― | 0.49% | -82.05% | -593.40% | |
46 Neutral | ₹21.40B | 571.15 | ― | 0.10% | 2.05% | -42.95% | |
41 Neutral | ₹245.17B | 93.18 | ― | ― | -41.28% | ― |
* General Sector Average
IN:ASTRAMICRO
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Astra Microwave Products Ltd. Corporate Events
Astra Microwave Sets Virtual AGM, Urges Shareholders to Update KYC Details
Aug 22, 2026
Astra Microwave Products Ltd. has notified shareholders and stock exchanges that its 35th Annual General Meeting will be held on 18 September 2026 via video conferencing and other audio-visual means. The company has provided a dedicated web link a...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.