Astra Microwave Products Limited — Q1 FY26

Astra Microwave Products Ltd Q1 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=VnB7oow_Zzs Published: 9 months ago

0:02 2 seconds Ladies and gentlemen, good day and welcome to the Estra Microwave Products Limited Q1 FY26 earnings conference 0:10 10 seconds call. As a reminder, all participant lines will be in the listenon only mode and there will be an opportunity for you 0:17 17 seconds to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then 0:26 26 seconds zero on your Touchstone phone. Please note that this conference is being recorded. This conference call may 0:34 34 seconds contain forward-looking statements about the company which are based on the beliefs, opinions and expectations of the company as on the date of this call. 0:43 43 seconds These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. I now hand the conference over 0:52 52 seconds to Mr. SG Ready, managing director of Estra Microwave Products Limited. Thank you and over to you sir. 1:01 1 minute, 1 second Thank you and good evening everyone. 1:05 1 minute, 5 seconds A warm welcome to the participants to the post results call for QL. I with my 1:11 1 minute, 11 seconds colleagues uh Mr. Miri joint managing director and Tim Kabra 1:18 1 minute, 18 seconds uh director strategy and business development and investor relations advisor SGA. 1:25 1 minute, 25 seconds The results and investor presentation for the Q1 FI26 are already uploaded on the company website and stock exchanges. 1:33 1 minute, 33 seconds I hope you had a chance to look at it. 1:38 1 minute, 38 seconds I am pleased to report that we had a strong uh start to FI26. 1:43 1 minute, 43 seconds For the first quarter on a standalone basis, we saw solid increase in our top line at 197 crores growing by about 1:51 1 minute, 51 seconds 28.1% yearonear. 1:55 1 minute, 55 seconds our uh other profit margins has also gone up. So these numbers highlight the strength of our core business. 2:03 2 minutes, 3 seconds When we look at our industry today, it is clear that the Indian defense sector is going through a significant transformation. 2:11 2 minutes, 11 seconds The government of India has taken several progressive steps in recent years to strengthen the domestic defense manufacturing ecosystem 2:20 2 minutes, 20 seconds including liberalizing foreign direct investment limits, promoting indigenous design and development, introducing the 2:28 2 minutes, 28 seconds defense testing infra infrastructure screen and giving priority to domestic procurement. 2:36 2 minutes, 36 seconds These initiatives reflect a clear and determined commitment to build a self-reliant globally competitive defense industrial base. 2:45 2 minutes, 45 seconds The results of these efforts are already visible. The increase in India's uh defense budget clearly demonstrate 2:52 2 minutes, 52 seconds government intent to rapidly build a national capability. 3:00 3 minutes This policy direction has also opened a new opportunities for private sector players enabling us to set up 3:06 3 minutes, 6 seconds investments, scale up innovation and participate more meaningfully in critical national programs. 3:16 3 minutes, 16 seconds Our standalone order book now stands at 1891 crores giving us strong visibility for the coming quarters. Most of these 3:25 3 minutes, 25 seconds orders are built to spec in nature which means value add is higher as compared to build to print. 3:32 3 minutes, 32 seconds Also we are making significant steps and investments to get into radar systems not only for defense but also into weather applications. 3:41 3 minutes, 41 seconds We are a significant player in competing for business opportunity in mumm program of government of India which requires 3:48 3 minutes, 48 seconds deployment of these radars across the country in a phased manners. This initiate is expected to generate recurring orders in the coming years. 3:57 3 minutes, 57 seconds Apart from weather radar, over the medium term, we see opportunities particularly in lightweight low-level 4:04 4 minutes, 4 seconds radars, anti- drone radars and ground penetration radars. 4:10 4 minutes, 10 seconds In Q2, we received an important order worth 135 crores at a gross value from the defense uh 4:18 4 minutes, 18 seconds uh research and development organization in August 2025. 4:22 4 minutes, 22 seconds This project involves upgradation of groundbased radar system. 4:27 4 minutes, 27 seconds Further, we remain committed to advancing indigenous innovation across the defense space and methological sectors. 4:34 4 minutes, 34 seconds Backed by a strong order book and significant order booking opportunities in the near term and a deep focus on 4:42 4 minutes, 42 seconds execution, we are confident in our ability to sustain growth and create long-term value in the quarters to come. 4:50 4 minutes, 50 seconds In the last few years, we have made conscious and strategic investments to diversify both in terms of technology and sectors where we are in. 5:01 5 minutes, 1 second We are we are also now building a strong and credible presence in the space sector. 5:06 5 minutes, 6 seconds Our standalone order book on order book includes about 239 crores of orders from the space sector. These 5:15 5 minutes, 15 seconds comprise highquality complex components and subsystems that require Christian engineering, reliability and a deep 5:23 5 minutes, 23 seconds technical knowhow areas where Astra has consistently delivered. As you are aware, we have incorporated a holy one 5:30 5 minutes, 30 seconds subsidiary by name space technologies private limited recently to focus in space business in a bigger way and have 5:38 5 minutes, 38 seconds already taken steps to recruit skilled manpower and to establish clean and assembly rooms for assembly and integration of small size satellites. 5:48 5 minutes, 48 seconds These operations will be carried out from our Bangalore facility with support from Hyderabad space division which has more than 20 plus years of experience in 5:56 5 minutes, 56 seconds supplying under BTS and BTP mode various electronic components and subsystems required for ground and onboard applications. 6:07 6 minutes, 7 seconds In terms of group company's performance, our holy one subsidiaries are doing well though they are largely serving our capital consumption needs. 6:16 6 minutes, 16 seconds Our joint venture company Hastar Rafel comes private limited tour has done well during the quarter and its prospect 6:24 6 minutes, 24 seconds looks bright for the coming years. He has an order book of 400 plus crores as of today and is expected to do about 350 6:33 6 minutes, 33 seconds plus crores of topline with a PBT around 10% for the year. It has potential to back close orders. 6:42 6 minutes, 42 seconds It has potential to back close to about 800 plus cr of orders during the rest of the year. 6:49 6 minutes, 49 seconds With this now I hand over to Mr. Miri uh joint MD and later on to Mr. Sing Kabra 6:57 6 minutes, 57 seconds who will give more insight into new initiatives, product development, business outlook in the near and long 7:06 7 minutes, 6 seconds term and the strategies adopted by the company to take this to next level of growth cycle. 7:12 7 minutes, 12 seconds Mr. Ready, thank you. Good evening ladies and gentlemen. 7:19 7 minutes, 19 seconds As as he has mentioned, we started FI26 with a decent performance in the first quarter as we have almost on track 7:27 7 minutes, 27 seconds towards reaching out the projected orders inflow and as well as sales for this quarter. I will be sharing few key 7:34 7 minutes, 34 seconds achievements and business updates of this quarter. Regarding order book, uh as we mentioned we are at 1891 course as 7:42 7 minutes, 42 seconds on 30th June and we have received worth of 150 crores in July. Also we have concluded negotiations of 150 crores 7:50 7 minutes, 50 seconds more worth of orders and 100 crores more orders are in pipeline and all these orders are expected to be received in Q2. 7:59 7 minutes, 59 seconds In Q1 we have booked a significant development contract like uh active antinary unit of for Viru Pakia uh from 8:06 8 minutes, 6 seconds DRDO and all other orders are production in nature from domestic market in radar EW and methology domain. 8:14 8 minutes, 14 seconds With regard to sales, we are at par with our target and we don't see any major challenge meeting out uh targets of current financial year. During the 8:22 8 minutes, 22 seconds quarter, we have built major products including uh and the Rohini modules for BE and medium range tracking uh target 8:31 8 minutes, 31 seconds radar for DRDO, RF modules for defense satellite and for ISRO, Xband Doppler 8:38 8 minutes, 38 seconds weather radar for melo and few other defense communication products for uh DPS use underscoring our timely execution and delivery capabilities. 8:49 8 minutes, 49 seconds I'm also happy to share few other key achievements of the last quarter which includes successful completion of uh site acceptant test of uh first ever 8:58 8 minutes, 58 seconds developed photonix radar by DRDO which has maximum contribution from our company 9:04 9 minutes, 4 seconds also uh we have got technology from uh D uh this is basically uh for um uh we 9:14 9 minutes, 14 seconds this is called CTCS which is compact transor communication system uh which our team is working on. 9:22 9 minutes, 22 seconds Our JVC uh arc started this financial year with a marginal profits made in Q1 as the majority of sales were shifted to 9:30 9 minutes, 30 seconds the current quarter due to few supply chain issues and delay in customer acceptance. However, we are confident of 9:37 9 minutes, 37 seconds meeting yearly guidance of order inflow being projected in the beginning of the year and also sales uh we would be uh achieving as per the guidance. 9:49 9 minutes, 49 seconds ARC is actively pursuing more opportunities in the domain of tactical communication and electrol optics uh as 9:56 9 minutes, 56 seconds we being informed in the previous calls and expected to grow in a rapid pace with initiatives being taken uh to strengthen it in all aspects. 10:06 10 minutes, 6 seconds Uh as uh Mr. SG had mentioned, we are expecting close to $100 million uh worth of orders before March 26. 10:15 10 minutes, 15 seconds With a strong ordering flow, healthy pipeline and strengthened technology capabilities, we are confident of delivering consistent growth and 10:22 10 minutes, 22 seconds creating long-term value for our stakeholders. Our focus remains on executing existing strategic important 10:29 10 minutes, 29 seconds contracts which we back from DRDO like for AAU for uh LCA Mach 2 and also for 10:36 10 minutes, 36 seconds Viru Pakia. These are all very critical orders and we will be uh focusing to execute efficiently by leveraging new 10:44 10 minutes, 44 seconds opportunities in defense, aerospace, satell and methology market segments. 10:49 10 minutes, 49 seconds That's all from my side. I would be happy to answer your questions. Now I'll hand over to Mr. Atim Kra. Thank you. 10:57 10 minutes, 57 seconds Thank you Azia and thank you Mr. and good afternoon everybody. 11:03 11 minutes, 3 seconds Um things are looking good and I have often spoken about our vision and what 11:10 11 minutes, 10 seconds we intend doing to ensure that we thrive and grow and deliver value and create value over the next multiple decades. 11:20 11 minutes, 20 seconds But as you know to gaze into the future and to move forward we have to understand where we are and how we have 11:29 11 minutes, 29 seconds evolved into what we are today. 11:35 11 minutes, 35 seconds The vision of the directors of Astra has been to create an extremely well diversified multi-revenue multi-techdriven 11:44 11 minutes, 44 seconds deep tech company that has created today the foundation for I would say a multi-deadal growth opportunity and a at 11:54 11 minutes, 54 seconds a pace that shall be welcomed by all of you. So what has been created by the original founders of Astra and hats off 12:03 12 minutes, 3 seconds to them and built upon by the current board and managements is nothing short of a prime example of how tech trends 12:12 12 minutes, 12 seconds need to be captured in time and concerted action taken to capitalize on the opportunities that present themselves. 12:21 12 minutes, 21 seconds you know I'll dwell a little bit on the various product lines which we have to 12:28 12 minutes, 28 seconds define for you very clearly that how Astra is an extremely well diversified 12:35 12 minutes, 35 seconds company which is critical from a risk management perspective and from the point of view of capturing multiple 12:42 12 minutes, 42 seconds revenue streams which will come in from many areas as we progress. 12:48 12 minutes, 48 seconds So did you know that Astra moved into MMIC chips more than two decades back and 12:56 12 minutes, 56 seconds these be these are the basic building blocks of TR modules that are the backbone for most of our core products. 13:02 13 minutes, 2 seconds We have today a portfolio of more than 40 chips and we are focusing on building them up and upgrading quite a few of 13:11 13 minutes, 11 seconds them to compete in the global markets where potential exists to sell chips in 13:17 13 minutes, 17 seconds excess of $50 million or more over the next 5 years or so from this portfolio alone. And you have already seen the 13:26 13 minutes, 26 seconds global relationships which we are trying to put together etc to enable these sales on a global basis. 13:34 13 minutes, 34 seconds You know as set up its space business which was spoken about by SC right now in excess of 225 30 230 crores is the 13:43 13 minutes, 43 seconds order book but we set up the space business more than a decade back and that is the foresight which the 13:52 13 minutes, 52 seconds management had and credit is due to the management team for doing so. 13:57 13 minutes, 57 seconds In the space sector hardware supply chain, Astra has a very spread out presence across the spectrum. We make 14:05 14 minutes, 5 seconds critical components have extensive test facilities to ensure the space worthiness of our products. We make 14:14 14 minutes, 14 seconds critical subsystems. We contribute significantly to multiple payloads be they in the communication area or be 14:22 14 minutes, 22 seconds they uh SAR enabled payloads. ASA has been beefing up its uh supply uh sorry 14:30 14 minutes, 30 seconds satellite bus design capabilities and we have a clean room which as you mentioned to assemble small satellites in a 14:38 14 minutes, 38 seconds Bangalore unit near ready. We have made a conscious decision for now not to go in for launch vehicles but we already 14:47 14 minutes, 47 seconds have a presence in the ground station capability in the ground station segment. So as you what I'm trying to 14:54 14 minutes, 54 seconds paint is that we have a capability which exists across the entire spectrum of satellite hardware and we intend 15:03 15 minutes, 3 seconds building up significant capabilities in data monetization space too to provide a complete satellite based data ecosystem 15:12 15 minutes, 12 seconds and it was in recognition I must mention uh of our capabilities that one of the leading defense PSUs recently had formed 15:19 15 minutes, 19 seconds a SPV with us to bid for a specific space tender and we hope that we'll collaborate with them and others in our space related endeavors going forward. 15:29 15 minutes, 29 seconds So our order book as as you mentioned in is in excess of 230 crores over there and given where companies with very 15:38 15 minutes, 38 seconds limited indigenous capabilities are valued you might find that our space business is actually very very valuable. 15:45 15 minutes, 45 seconds Uh similarly when we talk of our diversified order book and product portfolio it would be very necessary to 15:53 15 minutes, 53 seconds highlight our capabilities in meteorological and hydraological sector. 15:59 15 minutes, 59 seconds We just heard about project Mosum with an allocation of more than 2,000 crores and at this point in time I and and we 16:08 16 minutes, 8 seconds can correct me but I think out of 14 Doppler weather which are installed in India 13 are from Astra many more are in 16:16 16 minutes, 16 seconds the offing and we make rain profilers we have more than 2,000 installs of automatic weather stations and we build 16:23 16 minutes, 23 seconds our ground station capabilities on the back of this data overhaul cap backbone. 16:29 16 minutes, 29 seconds which allows us to collect the data from remote locations and download them into the servers of IMD. But we are not 16:36 16 minutes, 36 seconds resting on our laurels here. We are refining our weather products continuously. Uh we are building indigenous software capabilities uh to 16:46 16 minutes, 46 seconds interpret these signals which are captured and in the end we want to offer not just hardware but complete weather as a service, data as a service to the 16:54 16 minutes, 54 seconds rest of the world for the benefit of all. It is a nice sizable scalable business. 17:01 17 minutes, 1 second We expect that in the next two years we should have an order book in excess of 400 500 crores from this segment these 17:08 17 minutes, 8 seconds segments alone and that is the strength of ASA's capabilities across the board. 17:14 17 minutes, 14 seconds Our first AI initiator is almost ready where we intend using AI to help predict the weather with a 17:22 17 minutes, 22 seconds fairly high predict accuracy and that makes for a complete solution from Astra's stable. 17:30 17 minutes, 30 seconds So if you notice I have been spelling out order potential from our non-defense businesses which 17:40 17 minutes, 40 seconds on its own is probably is in excess of twice our current turnover and if this business will flow in we are we are 17:48 17 minutes, 48 seconds successful uh very very successful uh over the next four to five years. And so the strength of Astra I'll repeat lies 17:56 17 minutes, 56 seconds in being a very well diversified company which provides an insul in insulation layer to the main aerospace and defense 18:04 18 minutes, 4 seconds segment which can where the timelines can go a little little bit this side or that side. Uh we spoke about uh arc our 18:14 18 minutes, 14 seconds JV with Rafael Israel in SDRs. You know there are not too many successful joint ventures of the nature uh which are 18:22 18 minutes, 22 seconds scaling up nicely and contribute to our consolidated bottom line consistently. 18:29 18 minutes, 29 seconds You know this is a testament to the fact that we don't even we don't have not we have not only 18:36 18 minutes, 36 seconds the required capabilities but we are able to source tech and indigenize it to 18:42 18 minutes, 42 seconds a certain extent for creating value. It is expected in my opinion uh and again I 18:49 18 minutes, 49 seconds mean as you can chip in on this that we will have an order book in excess of hund00 million in this from from the JV 18:57 18 minutes, 57 seconds alone uh pretty soon. So please watch this space uh fairly uh carefully as this is a profitable diversification for our shareholders. 19:07 19 minutes, 7 seconds So in our core business, if I talk about that now for a second, we are now creating platform capabilities on the 19:15 19 minutes, 15 seconds back of a deeply backward integrated capability set which has been built up over decades. We make the MMIC's, we 19:24 19 minutes, 24 seconds make the TR modules, we make the radars, be there for ground forces, be there for airborne platforms and be there for the Navy. We have and this is not just us. 19:34 19 minutes, 34 seconds ESO has proved itself repeatedly with complex projects completed in 19:41 19 minutes, 41 seconds collaboration with our defense labs. Uh we have successfully delivered what we has just mentioned stipon radars over 19:48 19 minutes, 48 seconds the last 12 months and much has been spoken about utam radars to be deployed in pages where we compete amongst 19:56 19 minutes, 56 seconds competed amongst the best and dare say dare I say that almost all parameters we did well and proudly made in India 20:05 20 minutes, 5 seconds radars have performed very well thanks to the efforts of our scientists and research labs. So there is a need to 20:12 20 minutes, 12 seconds promote I would say domestic step in the face of competition which is global but at the same time a very fine delicate 20:20 20 minutes, 20 seconds balance needs to be maintained between the needs of the armed forces and timely and successful deliveries of multiple 20:27 20 minutes, 27 seconds platforms as we will all reach. So these planes you know but it's not just India 20:34 20 minutes, 34 seconds the planes need to be upgraded across the world and we are very seriously looking at uh how do we uh go into that 20:42 20 minutes, 42 seconds segment now building on the platforms uh which we have uh in sight and have 20:48 20 minutes, 48 seconds completed on the totally 100% Astra radars I am laying much hopes on the promise of our R&D team that they will 20:58 20 minutes, 58 seconds deliver at least three new traars which this year which have a massive market both globallies as well as within India 21:05 21 minutes, 5 seconds over the next 12 months that this is the delivery timeline. This adds to our product portfolio significantly as 100% 21:13 21 minutes, 13 seconds extra products right from the PCBs to the software to the RDP to the software which integrates at all everything will 21:21 21 minutes, 21 seconds be through our own supply chain which we shall create for our own products and that is when we hit the globe and market 21:28 21 minutes, 28 seconds our solutions. Guys, this is an extremely fast developing market where 21:33 21 minutes, 33 seconds the efforts of scientists be based with products which are world class, 21:41 21 minutes, 41 seconds second to none and 100% Indian. And I think in a multipolar world which demands supply chain resilience, self-reliance is the key as we all know. 21:53 21 minutes, 53 seconds But we are not focusing only on indigenous tech where we need to collaborate with partners as we demonstrated in the case of ARC our JV 22:02 22 minutes, 2 seconds with Israelis uh Israel Rafale we are focused on uh collaboration from 22:09 22 minutes, 9 seconds partners uh in product lines where we don't have a presence significant presence but the there's a timely need 22:17 22 minutes, 17 seconds for the products to be delivered but our focus will be on commercialization of indigenous ly developed technology 22:25 22 minutes, 25 seconds as of it would be incomplete to not speak about uh the latest anti- drone 22:32 22 minutes, 32 seconds systems which ASA is developing. We are focused on long range jamming detection and multi-directional jamming which 22:40 22 minutes, 40 seconds should hold us in good stand. uh I can safely say that we have at this point in time there are more than three dozen 22:48 22 minutes, 48 seconds programs in which Astra is participating in various anti-drone systems you know RFIs etc etc and we see this both as a 22:57 22 minutes, 57 seconds domestic and exports market so you know if I gaze into the future what 23:06 23 minutes, 6 seconds are we talking about you know this has been I I think established the fact that we are a very well diversified 23:13 23 minutes, 13 seconds with significant and sizable business in uh our non uh core business if I may say 23:20 23 minutes, 20 seconds if I define them as non-core though I think they are as integrated with us as possible you know MMIC chips uh the you 23:29 23 minutes, 29 seconds know that's where you know as we move into the semiconductor space as miniaturaturization takes hold digital 23:35 23 minutes, 35 seconds uh takes hold MMIC will play a very very uh important role and we 23:42 23 minutes, 42 seconds already uh signed one equity participation linked transaction 23:50 23 minutes, 50 seconds uh with a semi with a chip development company and another one should be closing very soon and that's the kind of a leap strategy lean and learn and 23:59 23 minutes, 59 seconds collaborate thing which we have always spoken about. So over three decades the base which we have created and the basic 24:07 24 minutes, 7 seconds building blocks which have been put in place over the years are now being utilized to create complete platforms 24:14 24 minutes, 14 seconds where Astra is extremely well positioned. you know um MVR spoke about uh Virupak and I think we have scored 24:23 24 minutes, 23 seconds some very positive moves over there which can itself result in a business which is more than twice our entire turnover when productization commences. 24:33 24 minutes, 33 seconds I let that sink in for a second. You know these are the kind of order orders which are going to be coming in now. So 24:41 24 minutes, 41 seconds in a very well diversified multiple platform company with core building blocks you know uh which are already in 24:50 24 minutes, 50 seconds place I think we are in a fairly decent position and I have a feeling that the business is I've not calculated it 24:57 24 minutes, 57 seconds exactly but uh what I've spoken about today itself adds up to a potential in 25:04 25 minutes, 4 seconds excess of 4,000 5,000 crores over the next 5 6 years and this is by the way besides our regular revenue lines. So 25:14 25 minutes, 14 seconds the future indeed looks bright that's a sizable growth if I'm talking 25:22 25 minutes, 22 seconds about over the next 5 years. So our focus remains on breaking up the massive potential into executable pieces and a 25:32 25 minutes, 32 seconds razor eye focus on delivering the numbers without fail. Let the numbers speak for themselves and single out the leading 25:41 25 minutes, 41 seconds players in the industry. We are carving a niche, a space of our own alongside the large, much larger defense PSUs and 25:50 25 minutes, 50 seconds the defense labs which are our esteemed partners. We would prefer to deliver more than talk. And with that, let's open the field for questions. Thank you. 26:04 26 minutes, 4 seconds Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on their touchstone 26:12 26 minutes, 12 seconds telephone. If you wish to remove yourself from the question queue, you may press star and two. Participants are 26:19 26 minutes, 19 seconds requested to use handsets while asking a question. 26:24 26 minutes, 24 seconds Ladies and gentlemen, we will wait for a moment while the question assembles. 26:33 26 minutes, 33 seconds The first question is from the line of Amit Dshit from Goldman Sachs. Please go ahead. 26:41 26 minutes, 41 seconds Yeah. Hi, good evening everyone and thanks for the opportunity. 26:44 26 minutes, 44 seconds Congratulations for a good set of numbers in the start of the year. Uh my first question is around the order 26:51 26 minutes, 51 seconds inflow. In the prepared remarks, you mentioned the number of 800 crores. Uh I just wanted to understand whether it is 26:59 26 minutes, 59 seconds the residual order inflow u that you are mentioning or is it the total order inflow. Uh also if you could uh if you 27:08 27 minutes, 8 seconds could break it up in different uh uh in different segments like radar e systems that would be great. That is the first 27:17 27 minutes, 17 seconds question. The second question is on utam radar. Have we received the order for this uh for uh the system that we trying 27:24 27 minutes, 24 seconds to that he was going to supply and uh if not then you know when do we expect to receive it and what could be the quantum of this order in this year? 27:39 27 minutes, 39 seconds Yeah, Amit. Uh regarding this order book of 800 crores, uh this we have referred in case of our joint venture company and 27:49 27 minutes, 49 seconds uh uh this is uh just to clarify it is expected to book additional 800 crores of orders uh during this financial year. 28:03 28 minutes, 3 seconds Yeah, I think yeah um Mr. Shamit this regarding Utam Radar um as we understand HL 28:14 28 minutes, 14 seconds you know they are increasing the order quantity on imported uh systems in view 28:20 28 minutes, 20 seconds of uh uh delay in few test of DRDO is the reason what being quoted uh but u we 28:28 28 minutes, 28 seconds have been pursuing it at every level and uh they've been saying that in the first phase itself uh at least some quantity 28:36 28 minutes, 36 seconds can be definitely inducted. So only thing is that today we are not in a position to tell when and how much quantity can be inducted in the phase 28:45 28 minutes, 45 seconds one. Uh we are expecting at least uh 10 to 12 numbers uh for which uh LSP has 28:53 28 minutes, 53 seconds been given by semile. So at least that quantity uh DRD I think they are trying uh with the uh you know h and all but it 29:02 29 minutes, 2 seconds is too early to mention about that. So otherwise the second phase 97 numbers definitely I think is very confident 29:11 29 minutes, 11 seconds that you know this particular radar can be inducted in the LCA mark 1A. So we are hoping to uh see that particular 29:20 29 minutes, 20 seconds time. So we cannot inform like you know exactly how when this can be inducted and what is the quantity and also only 29:27 29 minutes, 27 seconds time can tell. Maybe next 3 to four months I think we'll be in a position to inform you exactly on the utam. 29:35 29 minutes, 35 seconds Uh so just to clarify uh what what would be the order in flow that we expect this 29:41 29 minutes, 41 seconds year uh for the main company? Yeah, for Astra actually we have given guidance of uh around 1,300 to,400 crores out of 29:51 29 minutes, 51 seconds which uh we have booked as on date that is uh up to now we have booked around 29:57 29 minutes, 57 seconds 260 crores uh including 137 crores of Q1 plus additional uh order what we booked 30:04 30 minutes, 4 seconds this in July as I mentioned about 115 crores plus another 20 30 crores. So total we have I think booked around 260 30:13 30 minutes, 13 seconds crores as an date in this financial year and we are we are quite confident to book uh another uh 1100 or so by March 26. 30:26 30 minutes, 26 seconds Got it sir. Thank you so much and all the best. Thank you. Thank you. 30:33 30 minutes, 33 seconds A reminder to the participants please press star and one to ask a question. 30:38 30 minutes, 38 seconds The next question is from the line of Nirj Mana from White Pine Investment Management. Please go ahead. 30:47 30 minutes, 47 seconds Yeah. So you have said about uh receiving Vid Pakshia order in the orders. So what was the uh value of the order for Vid Paka? 30:56 30 minutes, 56 seconds So value uh I cannot mention in the open discussion but we have received uh two 31:02 31 minutes, 2 seconds members of uh triple AU um uh actually we and uh u B uh shared the quantity so 31:11 31 minutes, 11 seconds we received this contract and uh uh we started execution. 31:16 31 minutes, 16 seconds You will receive two and BL received two or it's one one each two and BL received one. 31:25 31 minutes, 25 seconds Okay. And and uh uh so what is it imply? 31:29 31 minutes, 29 seconds This is more like uh uh transfer techn check the uh the product or is it just a 31:38 31 minutes, 38 seconds uh which phase is it like this more like a testing phase for the product? 31:43 31 minutes, 43 seconds Is it development contract? So we have been uh yeah so this is we are developing uh in collaborating with DRDO. 31:54 31 minutes, 54 seconds Got it. And uh on the I think the the uh can you also share something about 32:01 32 minutes, 1 second the uh NP drone? I think you talked about three dozen uh programs that you have participated. Can you tell us 32:10 32 minutes, 10 seconds slightly longer period what can be the potential opportunity in that uh programs combined? 32:20 32 minutes, 20 seconds I mean shall I? Yeah. Yeah. 32:23 32 minutes, 23 seconds Okay guys, I think the the very paradigm of warfare has changed and drones are now at the forefront. Okay. So as we 32:33 32 minutes, 33 seconds speak probably every army in the world is trying to figure out how to incorporate 32:41 32 minutes, 41 seconds drones as a key part of their broadcast and as a corollary how to incorporate 32:48 32 minutes, 48 seconds anti- drone systems both on the civilian side as well as on the military side to prevent uh drones from causing havoc. So 32:57 32 minutes, 57 seconds we expect there are multiple reports I've seen in terms of uh estimates 33:04 33 minutes, 4 seconds uh of the total potential business but probably this is one of the massive and and they're all over there in terms of 33:11 33 minutes, 11 seconds numbers right but it is probably one of the most critical developments in the field of military which has 33:18 33 minutes, 18 seconds happened over years. So we decided instead of drones which have a full range right from there some of them are 33:26 33 minutes, 26 seconds commoditized some of them are highly specialized we would focus on anti- 33:31 33 minutes, 31 seconds drone systems which are capable of uh taking down the cheap commercially 33:40 33 minutes, 40 seconds available drones uh which come in in regular frequencies. two drones which 33:47 33 minutes, 47 seconds come on non-standard frequencies and I must tell you that we are one of the few companies we have the capability 33:55 33 minutes, 55 seconds to create uh jamming solutions in non-standard frequencies over a long range 34:03 34 minutes, 3 seconds range there are fair amount of competition but I think the winners will be distinguished between the range and 34:11 34 minutes, 11 seconds where you can accomplish what bands you can block etc etc so it's massive we 34:20 34 minutes, 20 seconds don't know who will get what kind of an orders okay I think uh uh 34:28 34 minutes, 28 seconds the fact that in 6 months we have participated in more than three dozen RFIs itself uh speaks volumes about the 34:37 34 minutes, 37 seconds kind of potential which exists not only here but globally also thank you thank you No, I think I think 34:44 34 minutes, 44 seconds the reason I asked was because it's quite a large wide guest actually. I thought I w your It is honestly it is we are very excited. We are very excited about that. 34:56 34 minutes, 56 seconds And and and two Yeah. Yeah. Got it. Got it. And uh can you can you guess give us some more color on the two programs? One you 35:04 35 minutes, 4 seconds talked about ground penetration and second the ship based radar. Uh so and what I thought was the SB Sband radar. 35:12 35 minutes, 12 seconds very few companies can make. Yeah. Yeah. That's a cool thing. Yeah. emits. 35:19 35 minutes, 19 seconds Yeah. uh as well as shipbone radar uh the development contract which we have received from uh DRDO which is almost in 35:27 35 minutes, 27 seconds the final stage of execution and uh by uh December 2025 we are likely to uh 35:35 35 minutes, 35 seconds complete our part of uh you know the testing and uh make acceptance and all and u Navi I understand Navi is showing 35:43 35 minutes, 43 seconds uh interest in uh getting more uh similar uh shipbone radar but these are all in discuss ation stage it I think it 35:50 35 minutes, 50 seconds is too early to comment on the quantity and as well as the u business uh how much business we can get uh follow on 35:58 35 minutes, 58 seconds business on this particular project. So uh regarding uh ground ground penetrating radar, yes we have developed 36:06 36 minutes, 6 seconds handheld ground penetrating radar uh and uh we are now uh we have made a 36:13 36 minutes, 13 seconds prototype and uh now we are developing engineering model which is likely to get completed in next couple of months. We 36:21 36 minutes, 21 seconds are participating in few RFPs. Now I think probably we will start uh uh giving them demo from uh let's say 36:29 36 minutes, 29 seconds September October onwards so that you know we are uh likely to book a few orders at least by March 26. 36:38 36 minutes, 38 seconds Oh, that's wonderful. Okay. And last one small small question on the the S Sband ship based how much how many TR would be that modules there? 36:47 36 minutes, 47 seconds It all depends on the configuration. So we can't say that this is particular T model because one particular ship the range it all decided by the range and 36:55 36 minutes, 55 seconds the ship on which they wanted to you know mount it and the size of the radar. 36:59 36 minutes, 59 seconds So all that there are so many other parameters to be looked into for to decide on the number of TR modules. 37:06 37 minutes, 6 seconds Okay. Okay. So, if if the if there are larger six by six, please pardon my ignorance. If there are larger six by six also, you would uh you would still 37:15 37 minutes, 15 seconds be participating considering that we have made a smaller version of the six SBR. Is it the right understanding? 37:21 37 minutes, 21 seconds Yeah. Yeah. We we can we can participate in a larger program also. 37:25 37 minutes, 25 seconds Oh, great. So, that's a large opportunity. Okay. Great. Thank you. Thank you. Thank you. 37:34 37 minutes, 34 seconds A reminder to the participants please press star and one to ask a question. 37:39 37 minutes, 39 seconds The next question is from the line of Rupesh Tatya from Shri Rama managers PMS. Please go ahead. 37:48 37 minutes, 48 seconds Uh thank you. Thank you for the opportunity sir and good good uh set of numbers. I think my first humble submission sir is in 1 hour call I think 37:57 37 minutes, 57 seconds management is taking 30 minutes. If if we can find a way to shorten that and give more time for questions that would 38:05 38 minutes, 5 seconds be very helpful. So that is my first uh humble suggestion. 38:10 38 minutes, 10 seconds Uh my my first question sir is in one of the slide presentation you have said that you are working or supplied 38:17 38 minutes, 17 seconds developed some ASA Xband uh seeker. So can you just give some idea about is it 38:24 38 minutes, 24 seconds for the missile which which missile is it uh at at what stage that program is is it in like development stage and then 38:33 38 minutes, 33 seconds when that program is likely to commercialize how many missile requirement is there with the forces. 38:42 38 minutes, 42 seconds Yeah. uh the Xband uh seeker uh we have already delivered uh to DRDO and it is 38:52 38 minutes, 52 seconds successfully mounted qualified tested and we got a follow on order also which 38:59 38 minutes, 59 seconds is under execution. Unfortunately I cannot give you the names of missile programs because of the confidential in 39:07 39 minutes, 7 seconds nature but uh the potential is huge. In fact uh uh the discussions uh what we are we are having it at least we are 39:16 39 minutes, 16 seconds expecting uh more than um uh 50 to 60 numbers in next 2 to 3 years time frame. 39:24 39 minutes, 24 seconds Okay. Okay sir that is helpful. The second question is I think in the Kusha program you have said that you supply 39:31 39 minutes, 31 seconds components uh for the radar uh but how about missile? Do you supply some components to missile first? 39:41 39 minutes, 41 seconds Uh no uh in for Kusha we don't have any subsystems for the missile segment. Uh but for the radar we have a com 39:49 39 minutes, 49 seconds subsystems and and how I mean where is that program in in your view when when will the 39:57 39 minutes, 57 seconds commercial production of that program likely to start in your view? 40:02 40 minutes, 2 seconds It's in development stage. uh in all the probability I think in next couple of years we should uh DRDO uh BL and BDL 40:11 40 minutes, 11 seconds should be in a position to complete that proto maybe next couple of years uh but this is in a development stage as of now 40:19 40 minutes, 19 seconds I cannot comment exactly and timeless because we are not the prime party to uh execute the system model we are only supplying subsystems to that program 40:29 40 minutes, 29 seconds okay okay that is helpful sir the the other question sir is Uh it it it look I mean obviously Virupaka is a larger 40:37 40 minutes, 37 seconds opportunity compared to Utam radar uh given there are 260 planes but it it also looks like there is there is also 40:46 40 minutes, 46 seconds competition at uh integrated radar level and also I feel at least whatever tenders I have seen it looks like there 40:54 40 minutes, 54 seconds is competition at the TRM or tiles level also. So can you give some some view uh 41:01 41 minutes, 1 second about competition and I mean other than that you have done it for utam what what what is our right to win how how can we 41:09 41 minutes, 9 seconds make sure that we get lion shared in vupaka radar. 41:14 41 minutes, 14 seconds Yeah, actually if you uh look at the Vupakia radar, there are many subsystems are there like one is the AAU that is 41:22 41 minutes, 22 seconds active antenna array units. This is a tile version. Uh which as I mentioned B and B have received the contract in a 41:30 41 minutes, 30 seconds competitive tender. Uh apart from that we are also developing the AAU in plank version also uh that based on the utam 41:39 41 minutes, 39 seconds technology. In fact both are going in parallel. So uh they are trying to explore which whichever the technology 41:47 41 minutes, 47 seconds gets into that so that will be make productionized. So we are there into both the versions. Apart from that of 41:54 41 minutes, 54 seconds course there are other subsystems like uh in EW sorry yeah EW suit and then uh 42:00 42 minutes other uh you know uh components few components like multi- channelannel excitator receiver which the other 42:08 42 minutes, 8 seconds companies have won uh but you know we are going to bid for some more subsystems which is like RPU and there 42:17 42 minutes, 17 seconds are a few other subsystems are there so like there are many subsystems but is a major subsystem which is almost like I 42:23 42 minutes, 23 seconds would say uh 55 to 65% of the enter uh the radar. 42:31 42 minutes, 31 seconds So, so which I mean at least from technology point of view is is plank based radar better or is styles based radar better? 42:39 42 minutes, 39 seconds Actually uh uh as the technology is concerned DRDO is like you know they're exploring to uh utilize the style 42:47 42 minutes, 47 seconds version. So it all we need to work out and uh based on the you know uh the specifications what we can get and the 42:56 42 minutes, 56 seconds uh technology can evolve I think the DRO can take a decision but mostly like is a tile version only as today. 43:04 43 minutes, 4 seconds Okay. Okay. The other question is recently Bell won a 2,000 cr contract for uh air defense fire control radar. 43:14 43 minutes, 14 seconds Uh so it is it is for which platform and and I at least given how strong we are in the radars are we involved in that 43:22 43 minutes, 22 seconds program and what what kind of contribution can we expect in in this air defense fire control radar 2000 contract. 43:31 43 minutes, 31 seconds Yeah. In fact um in fact I wanted to give you a pleasant surprise by uh quoting this but uh I missed out in my opening remarks. Yes, we are there in 43:40 43 minutes, 40 seconds this program and uh we are part of this uh program where we supplied almost 50 43:46 43 minutes, 46 seconds to 60% of uh uh subsystems like TR modules uh in this program. So we are 43:53 43 minutes, 53 seconds likely to get uh you know orders very soon uh by you know next couple of quarters. 44:00 44 minutes But this is this is for which which application which platform any color around them version of uh you know fire 44:07 44 minutes, 7 seconds control radar uh CR and uh uh this is a lightweight uh radar being used by army. 44:15 44 minutes, 15 seconds Anyway B I think is the system uh supplier probably B can give more uh information about the radar. 44:25 44 minutes, 25 seconds Let's give others a chance also to ask questions. uh you are most welcome to contact us and as far as your opening thing is concerned I've received four 44:33 44 minutes, 33 seconds SMSs of WhatsApp right now that they expect us to talk more about our strategy rather than limit ourselves 44:42 44 minutes, 42 seconds because this is probably the chance for everybody to understand the vision maybe you should extend the time of the 44:49 44 minutes, 49 seconds call sir then yeah I think then maybe we should extend keep the 90 minutes call sir yeah 44:56 44 minutes, 56 seconds we will request you to contact us for more answers individually. Let's give others a chance also please. Okay. Okay. 45:07 45 minutes, 7 seconds Thank you. Thank you. Thank you. 45:10 45 minutes, 10 seconds A reminder to the participants. Please press star and one to ask a question. 45:15 45 minutes, 15 seconds The next question is from the line of Parag Bhya from Sukrit Investments Private Limited. Please go ahead. 45:22 45 minutes, 22 seconds Hello. Hi sir. Uh thank you for the opportunity and congratulations for a great set of numbers. Uh I just wanted 45:30 45 minutes, 30 seconds to touch upon two things. Uh one we believe that the SDR trial for our JV arc has u like come out with flying 45:38 45 minutes, 38 seconds colors. So could you provide any more clarity as to when would we win the bid or are we bidding for that and like uh 45:47 45 minutes, 47 seconds for that is the first question and the second is uh are we participating in the Myanmar government I mean with the 45:54 45 minutes, 54 seconds Myanmar government for uh radar technology that uh Myanmar military would be using especially I think for drifty low-level lightweight radar. 46:04 46 minutes, 4 seconds So if you could just please throw some light on that. Thank you. 46:09 46 minutes, 9 seconds Uh the first question yes uh uh ERC is qualified in the initial trials. The 46:15 46 minutes, 15 seconds final trials u are uh going to happen soon and yes we are confident of getting 46:22 46 minutes, 22 seconds through those final trials also and we will be in competition for the uh prize bit uh opening. So that is the uh first 46:32 46 minutes, 32 seconds answer uh the answer to your first question and as far as the second question uh uh the other menar is uh bit 46:39 46 minutes, 39 seconds of confidential I do not want to uh uh give anything now at this stage maybe I think uh we may have to see for next at 46:47 46 minutes, 47 seconds least four to five months and I in position to answer your question on this okay 46:54 46 minutes, 54 seconds that's also subject to the regime's uh you know there are so many other aspects to that so that the reason I said uh we 47:01 47 minutes, 1 second have to wait for some more time to uh clarify it. 47:05 47 minutes, 5 seconds Yeah, I completely understand. No worries. 47:07 47 minutes, 7 seconds Yeah, thank you. And uh just for the just for clarity for the SDR radars. So could you give us a timeline as to by when could we expect or? 47:18 47 minutes, 18 seconds Yeah actually uh as in opening as we mentioned in the opening remarks this year before March 26 I think we should 47:26 47 minutes, 26 seconds have uh three major contract uh should be in play uh place uh and three contracts put together uh is closed 47:35 47 minutes, 35 seconds approximately is around $100 million. So all three and we are not considered actually the uh make to program which uh 47:44 47 minutes, 44 seconds is likely to complete because we have a competition over there. So these three programs what we have mentioned $100 million is on a single party uh like you 47:53 47 minutes, 53 seconds know one uh tenders. So this uh we are going to get with 100% probability. 48:01 48 minutes, 1 second Okay. Thank you. Thank you so much. 48:04 48 minutes, 4 seconds Thank you. Thank you participants. Please limit your questions to two per participant. Should you have a follow-up question, we would 48:12 48 minutes, 12 seconds request you to rejoin the queue. The next question is from the line of Ajit Si from Echo Quantum Solution. Please go ahead. 48:23 48 minutes, 23 seconds Thanks for the opportunity. So as we have a good order book in our hand and we have a great market opportunity for our products going. So what kind of 48:32 48 minutes, 32 seconds revenue growth we are targeting for FY26 and for next 2 years and what kind of profit profitability you imagine we can expect? 48:44 48 minutes, 44 seconds Yeah, we are expecting uh uh growth of uh around 18 to 20% uh uh year on year 48:52 48 minutes, 52 seconds and uh profitability also we are trying to maintain this uh same profit whatever we have given the guidance of the 49:00 49 minutes current year because since we are focusing more onto the domestic business and we are almost uh cutting down the BP 49:08 49 minutes, 8 seconds business hence our profit margins will still remain comfortable. 49:16 49 minutes, 16 seconds So this 20% of I beta margin uh we are expecting correct. 49:24 49 minutes, 24 seconds Yeah. Most most of the profit margins whatever we have earned as of last financial year I think we should be able to maintain and rather I would say that there will be slight improvement. 49:35 49 minutes, 35 seconds Okay. Okay. Understood. Thank you sir. 49:39 49 minutes, 39 seconds Thank you. The next question is from the line of Cayor Kumar from Nvesh Shai. Please go ahead. 49:48 49 minutes, 48 seconds Yeah, congratulations on good set of number. Uh my question is first of all related to the space vertical like you mentioned there is a mean big 49:56 49 minutes, 56 seconds opportunity ahead of us. So mean can you tell us uh more about like how many ground stations would be working out on 50:03 50 minutes, 3 seconds that aspect and your weather is always at the other portion so that mean that would increase or a lot of potential on 50:12 50 minutes, 12 seconds the revenue so like uh mean our CGR on the longerterm prospect would be increased or how you are evaluating on this front? 50:22 50 minutes, 22 seconds Yeah. Um we we are trying to f focus on both ground stations and as well as NJ 50:29 50 minutes, 29 seconds satellite building and we are initially we have started the building the you know small satellites for the LEO orbit 50:38 50 minutes, 38 seconds uh for particular application and uh that in fact it is already on uh and in 50:44 50 minutes, 44 seconds future we are also trying to uh you know uh take up few you know uh constellations 50:52 50 minutes, 52 seconds is with the consortium partners whom we already have. 51:02 51 minutes, 2 seconds Hello. Hello. Hello. 51:06 51 minutes, 6 seconds Yeah. I think somebody else. 51:10 51 minutes, 10 seconds Yeah. Yeah. And uh the next question would be on the MIC. You have mentions that we have a approval on the number. 51:18 51 minutes, 18 seconds So I actually I miss out the number. So can you repeat that opportunity and is there any long-term contract we are planning with the foundaries and all? 51:27 51 minutes, 27 seconds Yeah. Uh actually we have uh long-term contracts with the foundaries both in Taiwan and as well as in France. Uh 51:36 51 minutes, 36 seconds right now we are working on the gallium arsenate and gallium nitrate technology and uh soon we will uh start working you 51:43 51 minutes, 43 seconds know in semos and basimos technology also uh wherein you know we are trying to develop few chips uh with the uh 51:52 51 minutes, 52 seconds partnering with the few companies who have got experience in that particular domain and uh but most of these 52:00 52 minutes components like you know we are basically uh developing for captive consumption and and apart from that yes we do have a 52:07 52 minutes, 7 seconds direct market to the OEMs across the globe. uh but our focus more on building the subsystem based out of the 52:14 52 minutes, 14 seconds technology what we developed so that we'll become more competitive and technically to make sure that you know 52:21 52 minutes, 21 seconds we can beat a competition uh uh in the entire system that is what our strategy is for as far as MMS is concerned 52:30 52 minutes, 30 seconds okay and my last question is uh la in last call you have mentioned that we are developing on three to four seeker and 52:38 52 minutes, 38 seconds Xband has already been approved So is there any further development on the other seekers and can you show us the 52:45 52 minutes, 45 seconds light on the navatronics GV uh other seeker uh in other band? Yes, 52:52 52 minutes, 52 seconds it is also come we have completed the qualification of uh RF head and the 52:59 52 minutes, 59 seconds complete seeker uh DRDO is planning to have the trials in sometime in September October. I think probably by December uh that seeker also should get qualified. 53:11 53 minutes, 11 seconds So uh in this year end I think you know we should be in a position to inform you that uh uh about the potential for the 53:20 53 minutes, 20 seconds uh that other seeker also. Now as far as the navatronics JV is concerned, yeah we the development part of that particular 53:28 53 minutes, 28 seconds module is uh almost you know completed uh and it is in the final stage of acceptance and uh very soon we are going 53:36 53 minutes, 36 seconds to come out with the products for the end user and once we finalize the uh the 53:43 53 minutes, 43 seconds total market on that and we'll be able to inform you. 53:47 53 minutes, 47 seconds Okay. Thank you and all the best for the future sir. Thank you. 53:53 53 minutes, 53 seconds Thank you. The next follow-up question is from the line of Rupesh Tatya from Shri Rama Managers PMS. Please go ahead. 54:02 54 minutes, 2 seconds Yeah. Thank you. Thank you for the followup opportunity sir. Uh one one question sir is on this L sorry 54:11 54 minutes, 11 seconds uh sir on LLTR Ashwini I think the it's been a while uh that BL has received the contract. So where where is the hold up 54:20 54 minutes, 20 seconds by by when are we likely to receive the order for LTR rashini? 54:26 54 minutes, 26 seconds LT Rashini as uh as being informed B got the contract uh in that there are one of 54:34 54 minutes, 34 seconds the subsystem we do have few subsystems and uh inquiries are on and probably in next few months I think they will finalize the contracts on subsystems. 54:48 54 minutes, 48 seconds Okay. Okay. Thank you sir. And then this GPR ground penetrating radar what is the can you give some idea of the 54:56 54 minutes, 56 seconds opportunity size? How how many radars are required and and then how how will 55:03 55 minutes, 3 seconds they be phased? Is the program fully funded? Some idea around that would be very helpful. And also the competitive landscape. 55:13 55 minutes, 13 seconds uh here basically we have developed uh inhouse and uh the this particular 55:19 55 minutes, 19 seconds version what we have developed uh is uh we targeted the uh parametry forces is 55:28 55 minutes, 28 seconds our main uh client for this and uh as I mentioned we are now uh completed prototype and then we launched the 55:37 55 minutes, 37 seconds engineering model model and uh in few months we'll complete this and As far as the business potential is concerned, 55:44 55 minutes, 44 seconds yes. Uh uh actually countries importing these kind of a radars from uh Russia 55:52 55 minutes, 52 seconds and even other countries, European countries. Now I think in India only one or two companies have tried out in 56:01 56 minutes, 1 second developing this but uh to a large extent these rudders were imported. Now we're going to replace uh with this rudder 56:08 56 minutes, 8 seconds once we complete the engineering model and uh qualify technically. 56:14 56 minutes, 14 seconds But but how many radars are imported per year? 56:17 56 minutes, 17 seconds Yeah, actually we are expecting roughly around you know uh 100 numbers uh 56:24 56 minutes, 24 seconds minimum what we can uh we we are targeting every year. This is a handheld based uh groundbased ground penetrating radar. 56:33 56 minutes, 33 seconds That's that's helpful sir. The the other other question sir is uh in tank active tank protection system in tanks. I think 56:42 56 minutes, 42 seconds we have developed some pulse uh Doppler radar. So can you can you talk about that where where is that program and 56:50 56 minutes, 50 seconds when are we likely to receive the order for that? 56:54 56 minutes, 54 seconds Yeah. uh in uh this particular contract which we have received from DRDO uh we have made a prototype and uh there are 57:03 57 minutes, 3 seconds few observations and that we are trying to address in the uh second second model that also which is being launched. We 57:10 57 minutes, 10 seconds are expecting this order to get completed by March 26 and uh soon after that I think DRDO may take another year 57:20 57 minutes, 20 seconds or so to uh uh come out with the complete system for the trials. So in all probability I think maybe we can see 57:28 57 minutes, 28 seconds some production orders from FI2728 onwards. 57:33 57 minutes, 33 seconds Okay that's that's clear sir. Yeah, the question is data. 57:40 57 minutes, 40 seconds May I request you to rejoin the queue for followup question? Yeah, sure. 57:46 57 minutes, 46 seconds Thank you, ladies and gentlemen. 57:54 57 minutes, 54 seconds As no further questions, I now hand the confidence over to the management for closing comments. 58:03 58 minutes, 3 seconds Yeah, thank you. And uh thank you for your participation. 58:07 58 minutes, 7 seconds Answer that question as there was a question which he was asking right. 58:11 58 minutes, 11 seconds Yeah. Mr. Sidam um do you want me to promote him? 58:18 58 minutes, 18 seconds Yes please. Can you just hold him to Yes. Yes. Sure. Since there are no other questions. Yeah. Let's answer his question. 58:25 58 minutes, 25 seconds Okay. Mr. uh Rupes you can ask your question now. 58:29 58 minutes, 29 seconds Yeah. Thank you. Thank you for the opportunity sir. Is she on radar? My my question is what is the end application 58:37 58 minutes, 37 seconds of this radar? This is it goes where it goes into destroyers or frigates or corvettes or submarines and uh I mean 58:46 58 minutes, 46 seconds currently are these radar imported and is this like an indigenization effort some some color around that will be very helpful? 58:56 58 minutes, 56 seconds Uh yeah actually uh this is basically substitute to the uh imported radar and uh this is the first time this 59:04 59 minutes, 4 seconds indigenizing this particular scale of radar for the ship bone application and beyond that exactly like you know usage 59:12 59 minutes, 12 seconds of this radar is again is a highly confidential uh we cannot discuss those parts in this open discussion 59:21 59 minutes, 21 seconds but but when when the commercialization is likely yeah uh uh actually it's the repeat orders can be followed like as I 59:29 59 minutes, 29 seconds mentioned you know Navi is interested after seeing the technology being developed by DRDO I understand Nav'i is showing interest to get more numbers so 59:38 59 minutes, 38 seconds exact quantity and all timelines and all probably in next few months uh we will will add this information okay 59:46 59 minutes, 46 seconds okay okay thank you thank you for answering my question sir I have lot more maybe I I'll reach out offline 59:52 59 minutes, 52 seconds okay thank you Yeah, thank you ladies and gentlemen. As there 1:00:01 1 hour, 1 second are no further questions, I now hand the conference over to the management for closing comments. 1:00:07 1 hour, 7 seconds Yeah, thank you and thank you for your participation and uh your presence. I hope we are able to answer your queries and we'll be joining you after uh Q2. 1:00:18 1 hour, 18 seconds See you again. Thank you very much. Thank you. Thanks everybody. 1:00:23 1 hour, 23 seconds Thank you ladies and gentlemen on behalf of Astra Microwave Products Limited. 1:00:28 1 hour, 28 seconds That concludes this conference. Thank you for joining us and you may now disconnect your lines.