Astra Microwave Q4 Results Review - Numbers Inline With Expectations: Nirmal Bang

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Nirmal Bang Report.Astra Microwave Products Ltd. reported good numbers for Q4 FY24. Revenue (actual/estiamte: Rs 3,540/Rs 3,468), Ebitda (active/estimate: Rs 807/Rs 716) and PAT (actual/estimate: Rs 544/Rs 398) grew by 37%, ~136%, and 302% YoY, respectively. The management has guided the following for FY25:Revenue growth: Projected 18-22% growth in FY25, with full-year revenue guidance of Rs 10 billion to Rs 11 billion. PBT margin: Expected to remain in the same range as FY24 (16%). Working Capital Cycle: Targeting 240 days.Order inflow: Expected at Rs 12 billion - Rs 13 billion.Short-term borrowings: May increase by Rs 400 to Rs 500 million due to high receivables. .The management is optimistic as the JV partner Astra Rafael Comsys Pvt Ltd. has turned profitable and is backed by a strong order book.  Collaboration with Teledyne for MMIC is expected to benefit the company in the next two-three years. The stock has risen by 25% in the last two months. However, we expect FY26 to be a blockbuster year because of the delivery of Active Array Antenna Unit for Uttam AESA Radar for LCA Mk1A fighter aircraft. We have raised our estimate by 11% for FY26 besides increasing multiples from 40 times to 45 times. We value the stock at 45 times FY26E EPS with a target price of Rs 968..Click on the attachment to read the full report:.Power Mech Projects Q4 Results Review - Mine Development, Operation To Drive Growth, Margins: Nirmal Bang.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Astra Microwave Q4 Results Review - Numbers Inline With Expectations: Nirmal Bang

As of the end of FY24, the order book was valued at Rs 19.5 billion and is set to be executed by FY25-end

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