Astra Microwave Products - Order Visibility Improves, Premium Valuation: Geojit
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Geojit Research Report
Astra-Microwave Products Ltd. is leading designer and manufacturer of wide array of radio frequency systems, microwave chips, microwave based components and subsystems for defence, telecom and space.
Q4 FY21 revenue grew by 38% YoY, largely due to strong execution.
Ebitda margin improved by 9.1% to 18.2% and profit after tax grew by 133% YoY on account higher execution and lower cost.
Order backlog is at Rs 1,559 crore, which is 2.6 times FY21 sales. Order inflow was at Rs 916 crore, showing signs of improvement.
We believe that headwinds like order inflow and execution delays have seen some improvement.
While order inflow visibility has shown improvement in recent times.
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