Astra Microwave Products (532493) Q3 25/26 earnings summary

Executive summary

• Achieved record quarterly and nine-month performance with strong revenue and profit growth, driven by margin improvement and robust order execution in defense, space, meteorology, and exports.

• Standalone and consolidated unaudited financial results for the quarter and nine months ended December 31, 2025, were approved by the Board on February 12, 2026.

• Maintains a robust standalone order book of Rs. 2,226 crore as of December 31, 2025, with significant new orders in defense and meteorological segments.

• Strategic investments in R&D, joint ventures, and partnerships drive innovation, global reach, and expansion into advanced technologies.

• CFO transition: Mr. Rahul Rungta resigned effective February 11, 2026, and Mr. Srinivasarao Devathi was appointed as CFO from February 12, 2026.

Financial highlights

• Q3 FY26 standalone revenue: Rs. 25,823.57 lakhs; EBIT: Rs. 8,000 lakhs; EBITDA margin: 30.9%; PAT: Rs. 3,887.53 lakhs.

• Nine-month FY26 standalone revenue: Rs. 66,800 lakhs; EBIT: Rs. 16,500 lakhs; PAT growth: 6.3% YoY; PAT margin: 10.9%.

• Consolidated Q3 FY26 revenue: Rs. 26,024.51 lakhs; net profit: Rs. 4,681.49 lakhs; EPS: Rs. 4.93.

• Standalone and consolidated order books at Rs. 2,226 crore and Rs. 2,566.03 crore, respectively, as of December 31, 2025.

• JV order book at $80 million; JV revenue for FY26 expected at Rs. 350+ crore, FY27 at Rs. 400+ crore, with PBT margin of 10-12%.

Outlook and guidance

• FY26 revenue target reaffirmed at Rs. 1,150 crore, with ~10% topline growth and order inflows of Rs. 1,300-1,400 crore.

• FY27 revenue growth guided at ~15%, with order book expected at Rs. 1,500+ crore.

• Long-term outlook projects doubling of turnover in 3-4 years, with Rs. 8,000-10,000 crore new order bookings and Rs. 7,500+ crore sales over four years.

• Targets 15–20% revenue growth over the next three to five years, focusing on complex system fabrication and international markets.

• JV expected to maintain sustainable growth over next 5-6 years.