On Tuesday this defence stock gains more than 3.6% after its JV company received an order worth Rs. 96.49 Cr. On the same day, the stock reached a new 52-week high of Rs. 446.90. This stock has delivered 85% returns in six months and 53% returns in YTD.
Astra Microwave Products Ltd
Astra Microwave Products Ltd the company belongs to a small-cap category with a market capitalisation of Rs. 4,212 Cr. On Tuesday stock rose over 4%, at 11:15 a.m., shares were trading 3.2% up at Rs. 441.70 on NSE.
According to the company filing, Astra Microwave Products Ltd’s joint venture company Astra Rafael Comsys Pvt Ltd has bagged an order worth Rs. 96.49 Cr from the Indian Air Force for the supply of B-Kits, Testers and trainer-specific A-Kits for SDR Sets of MIG-29 Upgraded Aircraft. The order will be executed within 12 months.
During this month Astra Rafael Comsys Pvt Ltd has received total orders of Rs. 283.67 Cr (including the present order of Rs. 96.49 Cr) and as of today, the total order book stood at 594.79 Cr.
As per the company filing, total revenues declined by 16.6% from Rs.162.8 Cr in Q1 FY23 to Rs. 135.7 Cr in Q1 FY24 and the company reported a net loss of Rs. 6.7 Cr in Q1 FY24 against a profit of Rs. 8.1 Cr in Q1 FY23.
As of June 2023, Promoters hold 6.54%, the Public hold 80.58%, FIIs hold 3.03% and DIIs hold a 9.85% stake in the company.
Astra Microwave Products Ltd is a company that designs and manufactures radio frequency (RF) and microwave super components and subsystems for use in defence, space, telecommunications, meteorology, and civil communication systems.
Written by Sheshadri N
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