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Astra Microwave receives new orders worth Rs 158 crore from DRDO, ISRO, defence PSUs

Aug 25, 2023

By: BlinkX Research Team

The DRDO, ISRO, and defence public sector undertakings (DPSUs) have placed new orders with Astra Microwave Products Ltd, a producer of microwave wireless technologies for usage in telecommunications, space, and defence, for a total of Rs 158 crore, the company announced on Thursday, August 24.

"This is to inform you that the company has bagged orders worth Rs 158 crore for supply of Satellite sub-systems, Airborne Radar and sub-systems of Radar and EW projects, from DRDO, ISRO and DPSUs," according to a stock exchange filing.

For the first quarter of FY24, the company recorded a revenue of Rs 132.9 crore against Rs 161.2 crore for Q1 of FY23. "The geographical spread of total revenue for the quarter stands as follows — India 40 percent and exports 60 percent which was completely the other way around in FY23, i.e., India 60 percent and exports 40 percent," the company stated in a press release.

Due to the fall in gross margins, which is primarily caused by a higher contribution from the export business, the gross margins decreased to 27.5 percent for Q1 of FY24 from 35.1 percent for Q1 of FY23 last year.

Astra Microwave Products develops and produces RF and microwave super components and sub-systems with high added value for use in military, commercial, and space communication systems.

Source: Media Reports