Astra Microwave Q4 FY26 Call: Transcript Released, FY27 Revenue Growth of 15-20% Expected
Astra Microwave Products Limited released its Q4 FY26 earnings call transcript. The company reaffirmed FY27 revenue growth guidance of 15-20%. The Board recommended a dividend of ₹2.40 per share. A demerger of space, meteorology, and hydrology business is planned. The order book stands at ₹2141 crore.
The announcement includes a reaffirmation of growth guidance, a recommended dividend, and a significant strategic decision (demerger), all of which are material to investors.
The company discussed strong performance, positive industry outlook, reaffirmed growth guidance, and strategic initiatives like demerger, indicating a positive outlook.
Astra Microwave Products Limited has released the transcript of their Q4 FY26 earnings conference call, which was held on May 27, 2026. The call featured insights from Managing Director Mr. S. G. Reddy, Joint Managing Director Dr. M. V. Reddy, and Director of Business Development Strategic Mr. Atim Kabra.
Mr. S. G. Reddy highlighted a supportive environment for the defense industry, driven by government focus on indigenization, with nearly 75% of the defense capital acquisition budget allocated to domestic companies. He noted that India's defense exports exceeded INR 38,000 crore in FY26. The company achieved strong growth in FY26, with operating cash flow improving significantly to INR 370 crore from a negative INR 99 crore in the previous year. The Board has recommended a dividend of ₹2.40 per equity share (120% of face value) for FY25-'26, subject to shareholder approval at the AGM. The company reaffirmed its FY27 top-line growth guidance at 15% to 20%, with potential for stronger growth in the coming years. A significant strategic move discussed was the Board's in-principle approval for the demerger of its space, meteorology, and hydrology business to create sharper focus and unlock growth opportunities.
Dr. M. V. Reddy reported that FY26 turnover was INR 1157 crore, meeting guidance. The radar business contributed about 60% of revenue, with the space and meteorology segment contributing around 16%. In Q4 FY26, fresh orders worth approximately ₹530 crore were secured, bringing the total order book to ₹2141 crore as of March 31, 2026. Key orders included those for SDR programs, radar subsystems from BEL, and checkout hardware for ISRO's Gaganyaan mission. The company expects to book over ₹1600 crore in new orders in FY27. The JV company, Astra Rafael Comsys (ARC), closed FY26 with an order book of about ₹625 crore and is expected to deliver a top line of over ₹600 crore in FY27.
Mr. Atim Kabra emphasized the company's evolution from a component manufacturer to a deeply integrated, IP-driven systems manufacturer and a development-cum-production partner for strategic national programs. He reiterated the long-term vision to triple turnover over the next five years, focusing on improving earnings quality, cash generation, and shareholder value. He also mentioned that proprietary IP-led opportunities are not factored into the near threefold growth aspiration, representing potential upside. The company is also developing new products and solutions where Astra owns the complete IP, with some expected to hit the market before Diwali.
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