Astra Microwave Products Limited (ASTRAMICRO) announced its unaudited financial results for Q1 FY27, showing a decline in revenue but a significant surge in order books. The company reported a standalone revenue of Rs. 176 crores, down 10.7% year-on-year, while the consolidated order book stood at Rs. 2,849 crores as of June 30, 2026. Notably, the company secured a landmark order worth Rs. 2,205 crores from Hindustan Aeronautics Limited (HAL) in July 2026.

Standalone Performance

The standalone revenue for Q1 FY27 was Rs. 176 crores, driven primarily by domestic defence production orders. The company’s order book as of June 30, 2026, stood at Rs. 2,156 crores. Despite the revenue decline, the company’s EBITDA stood at Rs. 33 crores, down 13.7% year-on-year. The PAT for the quarter was Rs. 10 crores, a decrease of 24.4% compared to the same period last year.

Consolidated Highlights

Consolidated revenue for Q1 FY27 was Rs. 177 crores, down 11.5% year-on-year. The consolidated order book was at Rs. 2,849 crores, reflecting strong revenue visibility for the coming years. The company’s consolidated EBITDA was Rs. 33 crores, down 19.3% year-on-year, and the PAT was Rs. 12 crores, a decrease of 24.0% compared to the same period last year.

Commenting on the performance, Mr. S G Reddy, Managing Director, Astra Microwave Products Limited, said, “Q1 FY27 was a decent start for the year, recording a standalone revenue of Rs. 176 crores, primarily driven by execution of domestic defence production orders. As of June 30, 2026, our standalone order book stands at Rs. 2,156 crores, while the consolidated order book was at Rs. 2,849 crores, providing strong revenue visibility for the coming years. Notably, the value of this single order is higher than our total standalone order book as of June 30, 2026. Looking ahead, we continue to see healthy progress across our key programmes and remain confident in our growth trajectory. We are targeting topline growth of 10% to 15% year-on-year, while maintaining a healthy bottom line.”

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Astra Microwave Products Limited

Astra Microwave Products Limited belongs to the Technology › Communication Equipment sector. Here’s a quick read on where the business and the stock stand today.

Astra gains 60.4% over three months and trades near its 52-week highs. The PEG of 2.26 makes it expensive versus peers. The premium needs earnings to catch up quickly. Revenue grows at 12.6% and profits at 40.3% CAGR. However, that pace does not justify a premium multiple. Buyers show up with 2.2x the volume of sellers. Moreover, they dominated on 16 of recent sessions versus 14 for sellers — a healthy accumulation pattern. The stock rises 60.4% in three months on 12.6% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Astra Microwave Products Limited.

Astra Microwave Products Limited (ASTRAMICRO) breaks below support, falling 5% today. The move follows a corporate announcement regarding a change in management and the outcome of a board meeting, which may have unsettled investors. Astra Microwave, a player in the technology sector under communication equipment, has seen its stock price drop despite positive sector momentum, indicating this could be a company-specific reaction rather than a broader sector trend.

Technical setup — trendlines & DMA

Currently, Astra Microwave is trading below its 6-month support trendline, which ended at ₹1906.35, marking a 9.50% drop from that level. Resistance remains at ₹2031.65, which is 16.69% above the current price. The stock is 10.52% above its 50-day moving average (DMA) of ₹1664.9, suggesting it is slightly extended. However, both the 50-DMA and 200-DMA are in a bullish alignment, with the 50-DMA above the 200-DMA at ₹1162.4, indicating a positive longer-term trend. The stock is in the upper third of its 52-week range, signaling that a significant portion of its potential move may already be priced in.

Fundamentals & business context

With a PE ratio of 91.2 and profit margins at 16.6%, Astra Microwave’s valuation appears stretched relative to its current earnings, especially given its revenue CAGR of 12.6%. The high PE suggests the market may be pricing in future growth expectations rather than current performance. Institutional ownership stands at 22.9%, indicating a moderate level of confidence from sophisticated investors. There was no specific NSE catalyst today beyond the corporate announcements, which may have contributed to the stock’s decline.

Algorithmic scorecard

The overall scorecard reflects a technically strong but fundamentally weaker position for Astra Microwave. The strongest signals include the bullish trend indicated by the 50-DMA being above the 200-DMA and the bullish sentiment over the last 30 days, where volume on up days was 2.24 times higher than on down days, suggesting systematic accumulation. On the weaker side, the stock’s PEG ratio of 2.26 indicates it is overvalued relative to its growth rate, and the negligible dividend yield of 0.12% offers little income to investors. These factors highlight the stock’s potential risks despite its technical strengths.

Company outlook

Astra Microwave Products Limited has set an optimistic forward guidance for FY27 and beyond. The company expects a top line of over ₹600 crores in FY27 for its joint venture, Astra Rafael Comsys, with improved profitability. It anticipates a 15% to 20% top line growth rate in FY27, potentially stronger in the coming years. The company plans to book sales of ₹1300 crores to ₹1400 crores in FY27, a growth of 15% to 20% compared to FY26. Astra Rafael Comsys is expected to outperform, with minimum growth of 50% in order booking and sales. The company also expects to achieve an EBITDA of around 18% to 20% for the joint venture in FY27. Strategic plans include participating in the Su-30 electronics warfare upgrade program and launching new products with complete IP owned by Astra before Diwali.

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Astra Microwave Products Limited (ASTRAMICRO) edged up from the support zone, gaining +12% to close near ₹1945.8 on the NSE on 31 Jul 2026. The move follows the company’s announcement of bagging/receiving new orders/contracts, as per the NSE filing. This uptick aligns with the company’s recent trend of consolidating down but now approaching support. In the technology sector, particularly within communication equipment, this move appears company-specific rather than a broad sector momentum.

Technical setup — trendlines & DMA

From a technical perspective, Astra Microwave Products is currently trading near its 6-month support trendline at ₹1906.35, just 2.03% above it. Resistance remains at ₹2056.03, which the stock has not yet cleared. The 50-DMA at ₹1589.8 is above the 200-DMA at ₹1136.5, indicating a bullish trend, though the stock is currently 9% above the 50-DMA, suggesting it is somewhat extended. In its 52-week range, the stock is in the upper third, reflecting a significant portion of its move is already priced in.

Fundamentals & business context

Fundamentally, Astra Microwave Products presents a mixed picture. With a PE of 85.4 and profit margins at 16.6%, the stock appears overvalued relative to its current earnings, especially considering its revenue CAGR of 12.6%. However, the company’s profit CAGR of 40.3% over the past five years suggests strong earnings growth. Institutional ownership stands at 22.4%, indicating some level of confidence from smart money, though the lack of a specific NSE catalyst today means the move is likely driven by broader market sentiment and recent order wins.

Algorithmic scorecard

The overall algorithmic scorecard reflects a technically strong but fundamentally weaker position for Astra Microwave Products. Two of the strongest signals are the bullish trend, with the 50-day average above the 200-day average, and the bullish sentiment over the last 30 days, where up days have seen significantly higher volume than down days. These indicators suggest systematic accumulation and positive market sentiment. However, the company’s overvalued PEG ratio and high public ownership pose risks, indicating potential overpricing relative to growth and higher volatility due to widespread public holding.

Company outlook

Looking ahead, Astra Microwave Products has set ambitious targets for FY27 and beyond. The company expects to achieve a top line of over INR600 crores in FY27 for its joint venture, Astra Rafael Comsys, and improved profitability. Management forecasts a 15% to 20% top line growth rate in FY27, with potential for much stronger growth in subsequent years. The joint venture is expected to book sales of INR1300 crores to INR1400 crores in FY27, with EBITDA margins of 18% to 20%. The company also plans to launch new products with complete IP before Diwali and expects to triple revenue over the next three to four years. These initiatives underscore Astra Microwave Products’ commitment to growth and innovation in the communication equipment sector.

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