Astra Microwave Products witnessed a remarkable surge of over 10 percent, reaching a fresh record high of Rs 914 on May 27, following the company’s robust performance in the March quarter of FY24.
The defence and aerospace company reported a remarkable over four-fold jump in net profit for the January-March period, soaring to Rs 54 crore, marking the highest-ever in any quarter, compared to Rs 13 crore in the corresponding period last year.
Revenue also witnessed a substantial growth, rising nearly 38 percent year-on-year to Rs 354 crore for Q4 FY24, compared to Rs 258 crore in Q4 FY23. Bolstering its performance, the company’s EBITDA margin expanded to 22.8 percent in the March quarter, up from 13.3 percent in the same period a year ago.
“We have enhanced our overall product mix, leading to increased profitability throughout the year, and the same is also reflected in our current order book,” remarked S G Reddy, Managing Director of Astra Microwave Products.
Reddy further highlighted the healthy execution of space orders in Q4FY24, accounting for 14 percent of revenue, compared to 6 percent in the previous quarter. Additionally, the company plans to invest Rs 40 crore to expand this business segment.
Looking ahead, Reddy outlined the company’s targets for FY25, aiming to book orders worth Rs 1,300 crore and achieve a top-line in the range of Rs 1,000-1,100 crore while maintaining profit margins.
With a robust order book standing at Rs 2,299 crore as of March 31, including service orders worth Rs 105 crore, and orders worth Rs 1,636 crore booked during FY24, Astra Microwave’s growth prospects appear promising.
