Read the quarter in context.
A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
ConCallIQ research layer
Signal, with the source still visible.
Use the controls below to narrow the view, then follow the evidence into the next layer of context.
Revenue
₹488 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Astra Microwave delivered a strong FY26 with revenue of 1,157 crores, in line with guidance, driven by robust execution in radar (60% of revenue) and space segments. The order book stands at 2,141 crores (standalone) with an additional 1,600+ crores visible for FY27. Management reaffirmed 15-20% revenue growth for FY27 and a target to nearly triple turnover over 4.5-5.5 years, backed by five to six major programs (QSRM, Utamra, SU-30 MKI upgrades). Operating cash flow improved sharply to 370 crores from -99 crores last year. The JV ARC expects 50% growth in FY27 with revenue crossing 600 crores. Risks include program delays (e.g., Utamra negotiations still ongoing) and forex provisions impacting JV profitability.
Colored figures show movement against the previous available record.
Guidance to track
- Management reaffirmed FY27 topline growth at 15-20% with potential for stronger growth in coming years.
- Astra targets to nearly triple its turnover over the next 4.5 to 5.5 years, driven by five to six major programs.
- ARC expects minimum 50% growth in both order booking and sales, with revenue crossing 600 Cr.
- Annual capex will continue at 40-50 Cr; no additional capex required for the growth plan.
Risks flagged
- Utamra radar order negotiations are still ongoing; QSRM orders depend on BEL's contract finalization, which may slip.
- ARC's profitability was impacted by ~$2M forex provision; similar volatility could recur.
- Analyst noted that BEL indicated the SU-30 program may remain in development for 5 more years; management expects production orders only after 2-3 years.
- While margins improved, management cautioned that mix variations could cause fluctuations; sustaining current EBITDA margins is not guaranteed.
Key quotes
- We have in reality evolved from a component manufacturer to a deeply integrated IP-driven systems manufacturer to now becoming a development-cum-production partner for strategic national programs.
- The work underway today has the potential to position Astra in the immediate coming decade to more than half a billion dollar revenue enterprise and potentially much larger thereafter.
- We do not run this company for quarterly applause. Quarterly numbers are outcomes but not our identity.
Research modules