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Multibagger defence stock engaged in the business of designing, developing and manufacturing sub-systems jumped 5 percent in the day’s trade upon receiving a work order worth Rs. 56 Crores from Hindustan Aeronautics Limited. 

With a market capitalization of Rs. 5,948 Croress, the shares of Astra Microwave Products Limited were trading at Rs. 626.50, up 5.17 percent from its previous day’s close price of Rs. 595.70. It has delivered multibagger returns of 162 percent in a year. 

Astra Microwave Products Limited has received a work order worth Rs. 56 Crores from Hindustan Aeronautics Limited for the Supply, Installation, testing and commissioning of Precision Approach Radar (PAR) systems. 

Astra Microwave Products Limited is engaged in the business of designing, developing and manufacturing sub-systems for radio frequency and microwave systems used in defence, aerospace, meteorology, space, and telecommunications. 

Astra Microwave Products Limited has a healthy order book of Rs. 1,813 Crores, its Business-wise order breakup is as follows, Defence/public 70 percent, Space 11 percent, meteorological 4 percent and Exports 15 percent. 

The segmental revenue breakup shows that it generates 72.2 percent of its revenue from Defence, Space 6.1 percent, Meteorological 0.7 percent, Exports 20.3 percent and Others 0.7 percent. 

It has a strong client base with esteemed clients such as HAL, Bharat Dynamics, Bharat Electronics, Larsen & Toubro, ISRO, Brahmos, and many more. 

Its revenue from operations grew by 5 percent from Rs. 220 Crores in Q3FY23 to Rs. 231 Crores in Q3FY24, accompanied by profits of Rs. 28 Crores to Rs. 43 Crores. 

Written by: Bharath K.S 

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