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Designs and makes radio-frequency and microwave components used in radar, satellite and defense communication systems.
Designs and makes radio-frequency and microwave components used in radar, satellite and defense communication systems.
Earns from contract orders, often placed by defence research bodies and state-owned electronics firms, for subsystems that go into larger radar and communication systems, so revenue follows the timing of big orders and its order book rather than steady unit sales. Satellite communication work for the space programme adds a second customer base.
In one line: A niche Indian defense-electronics/RF component maker.
Moat: narrow (regulatory licence, process know-how). Defense-sector qualification and RF engineering expertise create high barriers versus new entrants.
Headquarters: Hyderabad, India · Founded: 1991 · Employees: 1,880
Size Astra Microwave Products (ASTRAMICRO.NS) is an India Communication Services company (Telecommunications Equipment) with a market value of $1.56B, the 451st largest of 1,058 India companies the cockpit tracks. Shares closed at ₹1,558 on 6 Nov 2026.
Performance Over six months the shares gained 34.0%, against +4.3% for the median peer and 0.0% for the India market (cap-weighted) — 5th highest of 16 in its peer set.
Growth Revenue grew 4.0% over the last twelve months (peer median +9.1%); the operating margin is 24.5% (peer median 15.6%).
Valuation It trades at 61.8× forward earnings against a peer median of 24.8× (most expensive of 10).
Price implies For today's price to make sense, revenue must grow about 53% a year for seven years (Req g). Recent delivered growth is +13%, so the hurdle is +41 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.1 points below its cost of capital (20.0% WACC).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹11.4B | ₹11.6B | ₹10.5B | ₹9.09B | ₹8.16B |
| Revenue growth | — | +11% | +16% | +11% | — |
| Gross profit | ₹3.70B | ₹3.60B | ₹2.82B | ₹2.10B | ₹1.66B |
| EBITDA | ₹3.26B | ₹3.37B | ₹2.71B | ₹1.93B | ₹1.49B |
| Net income | ₹1.89B | ₹1.93B | ₹1.54B | ₹1.21B | ₹698M |
| Free cash flow | n/a | ₹2.78B | -₹1.97B | -₹2.37B | -₹764M |
| Capital expenditure | n/a | ₹826M | ₹787M | ₹475M | ₹339M |
| Total debt | n/a | ₹2.88B | ₹4.24B | ₹2.38B | ₹1.85B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Astra Microwave Products ASTRAMICRO.NS | $1.56B | +34% | +4% | 25% | 61.8× | 53.3% |
| Bharat Electronics BEL.NS | $30.6B | -10% | +20% | 26% | 41.5× | 38.2% |
| Data Patterns (India) DATAPATTNS.NS | $2.24B | -11% | +34% | 37% | 60.2× | 61.0% |
| Paras Defence & Space Technologies PARAS.NS | $1.06B | +43% | +42% | 23% | 85.7× | n/a |
Peer set: Sector in the same market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | ASTRAMICRO.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.4% | +0.4% | 6th lowest of 16 |
| 6-month return | +34.0% | +4.3% | 5th highest of 16 |
| Distance from 52-week high | -20.5% | -25.1% | 7th highest of 16 |
| Revenue growth (TTM) | +4.0% | +9.1% | 7th lowest of 16 |
| Operating margin | 24.5% | 15.6% | 6th highest of 16 |
| Forward P/E | 61.8× | 24.8× | most expensive of 10 |
| Growth the price implies (Req g, 7 yrs) | 53.3% | 22.7% | most demanding of 10 |
| Growth delivered (Del g) | +12.7% | +12.6% | 5th highest of 10 |
| Hurdle (Req g minus delivered) | +40.6 pp | +3.7 pp | most demanding of 10 |
| ROIC minus cost of capital | -4.1 pp | -2.0 pp | 7th lowest of 16 |
| EV / EBITDA | 45.3× | 15.0× | 2nd most expensive of 12 |
| Net debt / EBITDA | 0.1× | 0.8× | 7th least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Astra Microwave Products ASTRAMICRO.NS | India | $1.56B | +34% | +4% | 25% | 61.8× | 53.3% | +12.7% |
| PVR Inox PVRINOX.NS | India | $1.63B | +47% | +14% | 16% | 28.7× | 15.7% | +88.3% |
| Saregama India SAREGAMA.NS | India | $1.26B | +77% | -3% | 28% | 46.6× | n/a | n/a |
| Tips Music TIPSMUSIC.NS | India | $1.04B | +20% | +27% | 67% | 39.6× | 36.6% | +32.9% |
| Prime Focus PFOCUS.NS | India | $2.36B | -7% | +29% | 16% | n/a | 26.0% | +12.6% |
| Sun TV Network SUNTV.NS | India | $2.48B | +4% | -5% | 38% | 14.2× | 9.5% | +6.4% |
| ITI ITI.NS | India | $2.53B | -18% | -41% | -1% | n/a | n/a | n/a |
| Tata Teleservices (Maharashtra) TTML.NS | India | $824M | -11% | -1% | 44% | n/a | 22.7% | +2.1% |
| RailTel Corp. of India RAILTEL.NS | India | $817M | -31% | +23% | 10% | 18.8× | 31.3% | +25.4% |
| Tejas Networks TEJASNET.NS | India | $790M | -22% | -70% | -58% | n/a | n/a | n/a |
| HFCL HFCL.NS | India | $3.42B | +44% | +101% | 19% | 24.8× | n/a | n/a |
| Zee Entertainment Enterprises ZEEL.NS | India | $651M | -32% | +6% | -1% | 14.3× | 1.8% | +0.9% |
| Rossell Techsys ROSSTECH.NS | India | $551M | +33% | +86% | 10% | n/a | n/a | n/a |
| Tata Communications TATACOMM.NS | India | $5.15B | +7% | +9% | 8% | 30.9× | 34.1% | +7.7% |
| Network18 Media & Invest NETWORK18.NS | India | $438M | -23% | -23% | -3% | n/a | n/a | n/a |
| MPS MPSLTD.NS | India | $404M | +36% | +10% | 29% | 18.2× | 9.6% | +12.7% |