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Astra Microwave

Q1 FY27

Astra Microwave Q1 FY27 earnings call: Revenue & Margins

Q1 FY27 earnings call: what management said on revenue, margins and capex.

Price₹1,625

Market cap₹15.4K Cr

P/E81.6

Updated16 Oct 2026

Read4 min read

What the Q1 FY27 call signalled

2 of 5 strong

RevenueModerate growth

MarginMargins steady

CapexCapex planned

FundraiseNo fundraise planned

Order bookOrder book rising

The short version

Future Growth Expectations for Astra Microwave Products Limited: - Targeting top-line growth of 15% to 20% annually. Astra Microwave expects to achieve 6 to 7 times revenue growth over the next 5 years compared to FY26, driven primarily by defense orders.

From Astra Microwave's Q1 FY27 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

Moderate growth

Future Growth Expectations for Astra Microwave Products Limited: - Targeting top-line growth of 15% to 20% annually. - Expecting 6 to 7 times revenue growth over the next 5 years compared to FY26. - Order intake guidance of INR 8,000 to 10,000 crores over the next 3 to 4 years. - Execution of current order book spread over 5 to 6 years, with significant orders like Uttam radar spanning 4 to 5 years. - Revenue expected to surpass INR 1,600 crores by next year, with a different trajectory from FY29 onward driven by production orders.

- Sustainable growth anticipated in meteorology and space segments, with new radar solutions and satellite launches planned. - Growth supported by new product development, enhanced market competitiveness, and entry into data monetization and international supply chains. Overall, management expresses strong confidence in sustained, multi-year growth fueled by defense, space, and meteorological programs.

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Profitability & Margins

Astra Microwave expects to achieve 6 to 7 times revenue growth over the next 5 years compared to FY26, driven primarily by defense orders.
Profitability is targeted at 18% to 20% PBT margin, indicating a profitable entity from day 1 post-separation of business units.
The company plans an order book of INR8,000 to INR10,000 crores to be executed over 5-6 years, fueling growth.
Margins are expected to remain stable, supported by competitive global product pricing and long-tail revenue streams such as AMC and upgrade cycles.
Growth trajectory includes doubling revenue from approximately INR1,057 crores (FY25) to several thousand crores by FY31.
Operating cash flows are expected to improve significantly with scaling up of execution.

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Capital Expenditure Plans

Capex planned

Current business primarily focused on Government of India programs in defense, space, and meteorology.
Space business to be demerged into a separate listed entity by April 1, 2027, expected to start with INR 300+ crores revenue run rate.
Upcoming launch of own satellite as part of a consortium within 6 months of the space business becoming independent, indicating future capex in satellite and data monetization.
Development underway on new radar technologies in meteorology (Avalanche Radar, enhanced weather forecasting) with demand expected for 8-10 years.
Active investment in programs like BrahMos new generation RF seekers, AMCA Active Antenna Array Unit development indicating ongoing R&D capex.

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Fundraising & Capital Structure

Management stated they will not dilute equity for working capital requirements and are comfortable managing working capital without raising equity.
They emphasized that equity is an expensive form of capital and should be respected.
Focus remains on positive operating cash flow and increasing return on equity.

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Order Book & Pipeline

Order book rising

Current total order book as of August 2026: INR 4,300 crores (including Uttam Radar order, which doubled the order book).
Astra Rafael Comsys (joint venture) order book: INR 836 crores.
Planned sales for Astra Rafael Comsys in current year: INR 360 crores.
Expected order booking for entire financial year: Approximately INR 1,600 crores.
Order book execution timeline: Most orders to be executed within next 2 years, except Uttam Radar (5-year execution till FY32).
New order wins include AAAU for AMCA program (awaiting contract), Bharat Electronics MMIC chipsets order worth INR 45 crores.

2 more points from Astra Microwave's call on order book

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Astra Microwave — Quarterly revenue & net profit

Revenue Net profit

Dec 2024Q3 FY25

Mar 2025Q4 FY25

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Q1 FY27 figures are not in this chart yet. Latest shown: Mar 2026 (Q4 FY26). The Q1 FY27 numbers from the filing are in the analysis on this page.

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹488 Cr, net profit ₹106 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Astra Microwave Products Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Astra Microwave Q1 FY27 results?

Future Growth Expectations for Astra Microwave Products Limited: - Targeting top-line growth of 15% to 20% annually. Astra Microwave expects to achieve 6 to 7 times revenue growth over the next 5 years compared to FY26, driven primarily by defense orders.

What is Astra Microwave share price analysis?

Astra Microwave currently shows a below-average growth signal. The stock trades at a P/E of 81.6 with a market cap of ₹15,430 Cr. Investors should review the full earnings analysis for detailed insights.

Is Astra Microwave planning capital expenditure?

Current business primarily focused on Government of India programs in defense, space, and meteorology.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.