Order Book
₹2,226 Cr
+?% QoQ
Standalone order book as of Dec 2025, providing strong revenue visibility.
ASTRAMICROWAVEPRODUCTS
Other
10 Feb 2026
Astra Microwave Products Limited — Q3 FY26
Astra Microwave delivered its best-ever quarter with standalone revenue of ₹258 crore and EBITDA margin of 30.9%, driven by favorable revenue mix and strong execution.
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
Astra Microwave delivered its best-ever quarter with standalone revenue of ₹258 crore and EBITDA margin of 30.9%, driven by favorable revenue mix and strong execution. PAT stood at ₹39 crore. The order book crossed ₹2,226 crore, providing multi-year visibility. Management reaffirmed FY26 revenue guidance of ~₹1,150 crore (10% growth) and order inflows of ₹1,300-1,400 crore. For FY27, they guided 15% revenue growth and order book of ₹1,500+ crore. Long-term, they expect to more than double turnover in 3-4 years, targeting ₹7,500+ crore in cumulative sales over four years. Key wins included Doppler weather radars and EW subsystems. Risks include execution delays due to complex R&D programs and working capital intensity, though management highlighted sovereign receivables and customer advances (25% of gross receivables) mitigate concerns.
Key Numbers
Order Inflows (9M FY26)
₹476 Cr (Q3)
+?% YoY
Q3 order inflows of ₹476 crore; cumulative 9M inflows of ₹450+ crore.
JV Order Book (Astrael)
$80M
+?% QoQ
Joint venture order book at $80 million; Q3 revenue of $18.19 million.
Customer Advances as % of Gross Receivables
25%
flat
Advances received from customers reduce net receivables significantly.
Management Guidance
FY26 Revenue Guidance of ~₹1,150 crore
Management reaffirmed 10% top-line growth for FY26, with confidence in achieving ₹1,150 crore revenue.
Management guidance revenueFY26 Order Inflow Guidance of ₹1,300-1,400 crore
Order inflows expected to be in the range of ₹1,300-1,400 crore for FY26, with Q4 alone expected to contribute ₹550-600 crore.
Management guidance growthFY27 Revenue Growth of ~15% and Order Book of ₹1,500+ crore
For FY27, management guided 15% revenue growth and order book of ₹1,500 crore plus, with healthy bottom line.
Management guidance revenueLong-term Target: Double Turnover in 3-4 Years
Management expects to more than double turnover from current levels by FY29-30, with cumulative sales of ₹7,500+ crore over four years.
Management guidance growthKey Risks
Execution Delays in R&D Programs
Complex R&D projects have faced iterations and delays due to customer approvals and design reviews, impacting revenue timing.
medium · management_commentaryWorking Capital Intensity
High inventory and receivables are inherent due to long gestation cycles and advance procurement; though mitigated by sovereign credit and advances.
medium · management_commentaryDependence on Government Order Flow
Order inflows are lumpy and dependent on government budget cycles and price negotiations, which can cause quarterly volatility.
medium · analyst_questionForeign Exchange Fluctuations
High foreign content in orders exposes margins to rupee depreciation; management hedges but risk remains.
low · management_commentaryNotable Quotes
We view our business in blocks of three to four years not on a quarterly basis not an annual basis as there is a significant step up which happens in terms of our technical capabilities.
We are not here for a quarterly review. This business, we take a 3 to four year view.
We are confident of a bagging or maybe around 8,000 crores for the execution in this particular front because in that many of the programs which are we are single or only approved qualified company.
Frequently Asked Questions
What was Astra Microwave Products's revenue in Q3 FY26?
Astra Microwave Products reported revenue of ₹260 Cr in Q3 FY26, representing a — change compared to the same quarter last year.
What guidance did Astra Microwave Products management give for FY27?
FY26 Revenue Guidance of ~₹1,150 crore: Management reaffirmed 10% top-line growth for FY26, with confidence in achieving ₹1,150 crore revenue. FY26 Order Inflow Guidance of ₹1,300-1,400 crore: Order inflows expected to be in the range of ₹1,300-1,400 crore for FY26, with Q4 alone expected to contribute ₹550-600 crore. FY27 Revenue Growth of ~15% and Order Book of ₹1,500+ crore: For FY27, management guided 15% revenue growth and order book of ₹1,500 crore plus, with healthy bottom line. Long-term Target: Double Turnover in 3-4 Years: Management expects to more than double turnover from current levels by FY29-30, with cumulative sales of ₹7,500+ crore over four years.
What are the key risks for Astra Microwave Products in FY27?
Key risks include Execution Delays in R&D Programs — Complex R&D projects have faced iterations and delays due to customer approvals and design reviews, impacting revenue timing.; Working Capital Intensity — High inventory and receivables are inherent due to long gestation cycles and advance procurement; though mitigated by sovereign credit and advances.; Dependence on Government Order Flow — Order inflows are lumpy and dependent on government budget cycles and price negotiations, which can cause quarterly volatility.; Foreign Exchange Fluctuations — High foreign content in orders exposes margins to rupee depreciation; management hedges but risk remains..
Did Astra Microwave Products meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Astra Microwave Products Q3 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.