Astra Microwave Products Limited — Investor Meet, 17-08-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Astra Microwave (AMPL) reported Q1 revenue of INR 182 crore, with management attributing moderation to temporary delays expected to normalize. The consolidated order book hit a record INR 4,300 crore, significantly boosted by a landmark INR 2,205 crore Uttam Radar order from HAL, providing strong visibility. Management projects FY27 revenue at INR 1,350 crore (+/- 25 Cr) and FY28 at INR 1,600 crore (+/- 50 Cr), anticipating a positive increase in EBITDA margins.

Growth drivers include securing L1 status for the AMCA program's AAAU and developing new anti-drone and electromagnetic wall technologies, representing substantial upside not yet factored into projections. The company plans to spin off its Space & Weather divisions by April 2027 into a separate, profitable entity with projected initial sales exceeding INR 300 crore and 18-20% PBT margin, targeting global markets. Leadership is transitioning, with Mr. S.G. Reddy stepping down as MD. The long-term outlook for growth and value creation remains very positive, underpinned by a robust order pipeline and strategic initiatives.