Astra Microwave Q4 Results Review - Numbers Inline With Expectations: Nirmal Bang

As of the end of FY24, the order book was valued at Rs 19.5 billion and is set to be executed by FY25-end
28-05-2024
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Q4FY24 Quarterly & FY24 Annual Result Announced for Astra Microwave Products Ltd.

Defence company Astra Microwave Products announced standalone Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue stood at Rs 353 crore for Q4FY24 as against Rs 256 crore for Q4FY23 Gross margins improved to 37.3% for Q4FY24 as against 28.5% in Q4FY23 EBIDTA margins was 22.8% for Q4FY24 as against 12.2% in Q4FY23 PAT was at Rs 50 crore for Q4FY24 as against Rs 12 crore in Q4FY23 Geographical spread of total revenue for the quarter stands as follows: India – 76% and Exports – 24% FY24 Financial Highlights: Revenue stood at Rs 904 crore for FY24 as against Rs 807 crore for FY23 EBITDA stood at Rs 194 crore for FY24 as against Rs 150 crore for FY23. EBITDA margin for FY24 stood at 21.4% vs 18.5% in FY23 Profit after Tax of Rs 113 crore in FY24 as against Rs 77 crore in FY23, a 300 bps of margin expansion Commenting on the performance, S G Reddy, Managing Director, Astra Microwave Products Limited said “This has been an excellent year for us, as we have grown exponentially and registered our highest ever financial performance across all metrics. Our consistent and disciplined approach towards performance has enabled us to successfully achieve the quarterly and full-year guidance given at the start of the year. Additionally, we have enhanced our overall product mix, leading to increased profitability throughout the year, and the same is also reflected in our current order book. Recently, we have also entered into a collaboration agreement with Teledyne e2v HiRel in order to provide semiconductor services to support the aerospace, defence, and reliability electronics markets. This agreement will pave the way for numerous new possibilities for us in the future. In Q4FY24, there was healthy execution of space orders, which resulted in 14% of revenue coming from this segment, compared to 6% in the last quarter. Further, we have budgeted an investment of Rs 40 crore to expand this business segment. As on March 24, our orderbook stood at Rs 1,956 crore, which is more than double of FY24 revenues. This order book consists of 88% domestic orders, which command superior margins. Going forward, we will continue to grow our capabilities strategically and achieve our targets step by step. For the coming year, we are targeting order booking to the tune of Rs 1,300 crore and a topline in the range of Rs 1,000 to 1,100 crore while maintaining our profit margins.” Result PDF
24-05-2024
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