India’s Aerospace & Defense sector is experiencing rapid growth, with defense production reaching a record Rs 1.27 lakh crore in FY 2023-24 and exports surpassing Rs 21,000 crore. The government awarded 92% of new contracts to domestic firms, signaling a strong push for indigenisation. The aviation market hit $14.47 billion in 2024, targeting $40.81 billion by 2033.
With a market capitalization of Rs 10,389.36 crore, the shares of Astra Microwave Products Ltd closed at Rs 1,094.25 per share, decreased around 0.91 percent as compared to the previous closing price of Rs 1,104.30 apiece.
FY26 Guidance
Astra Microwave Products aims to achieve revenue of Rs 1,200–1,300 crore in FY26, driven by a strong order pipeline. According to Director Atim Kabra, the company anticipates order intake in the range of Rs 1,300–1,400 crore this year, supporting its growth momentum and strategic expansion plans.
Operational Highlights
In FY25, Astra Microwave Products derived 80.6% of its revenue from the Defence segment, showing strong reliance on this vertical. Exports, including deemed export, contributed 10.5%, followed by Space (5.6%), Meteorological (2.3%), and Others (1%). The Q4FY25 revenue mix was dominated by Defence at 84%, reaffirming segment strength.
Astra Microwave Products reported a total order intake of ₹420.7 crore during Q4 FY25, led by the Defence segment (₹351.8 crore), followed by Meteorological (₹44 crore), Space (₹20.9 crore), and Exports (₹4 crore). The company executed ₹429 crore worth of orders in Q4, indicating strong operational delivery.
The segment-wise order book stands at ₹1,952 crore as of March 31, 2025, with Defence/Public accounting for 69%, followed by Space (12%), Meteorological (10%), and Exports (9%). Astra has maintained a diversified historical order book across FY20–FY25, with Defence and Space consistently driving growth across radar electronics, missiles, and electronic warfare systems.
Astra Microwave Products boasts a strong clientele including the Indian Ministry of Defence, DRDO, ISRO, HAL, BEL, and global defence majors like Rafael, Thales, and Raytheon. It holds major stakes in key defence programs such as AEW&CS, AESA Radar, ASPJ systems, and long-range radar modules, strengthening its strategic positioning.
Astra Microwave Products is engaged in the business of designing, developing, and manufacturing sub-systems for Radio Frequency and microwave systems used in defense, space, meteorology, and telecommunication.
Written by Abhishek Singh
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