Astra Microwave Products Limited — PPTs, 26-05-2026: Investor Presentation

**Business Performance:** Astra Microwave delivered solid Q4 & FY26 results. Standalone revenue jumped 20% YoY in Q4 to 487 Cr, hitting 1,156 Cr for FY26 (+11%). PAT soared 40% in Q4 to 105 Cr, reaching 178 Cr for FY26 (+24%). EBITDA margins expanded to 32.8% in Q4 and 28.0% for FY26. Growth was primarily driven by Defence (67.7% of FY26 revenue) and Exports (24%).

**Growth Drivers & Strategy:** The "LEAP" framework is key: focusing on Lean & Learn for IP-driven products, Expansion into new markets like anti-drone and satellites via JVs, innovative Products, and Accretiveness for better ROE & FCF. A strategic move is the Board's in-principle approval to demerge Space, Meteorology, and Hydrology businesses for focused growth and value unlocking.

**Recent Developments:** Notable updates include the proposed demerger of Space, Meteorology, and Hydrology divisions. The company secured significant new orders in Q4 FY26 for Radar, Space, and Meteorology products, adding to its robust order book.

**Key Financial Metrics:** Standalone EPS grew to Rs 18.73 in FY26 (from Rs 15.10 in FY25). The standalone order book remains strong at 2,141 Cr as of March 31, 2026, dominated by Defence (54%) and Exports (33%). Cash conversion cycle improved from 459 to 374 days, indicating better working capital efficiency.

**Management Commentary & Outlook:** Management aims for 15-20% revenue growth, expecting complex system fabrication to boost future revenues and margins. The long-term vision is maximum self-reliance in defence, becoming a major exporter, and a global leader in niche technologies.