Astra Microwave Products Results Earnings Call for Q3FY24

Conference Call with Astra Microwave Products Management and Analysts on Q3FY24 Performance and Outlook. Listen to the full earnings transcript.
09-02-2024
Bigul

Q3FY24 & 9MFY24 Quarterly Result Announced for Astra Microwave Products Ltd.

Defence company Astra Microwave Products announced Q3FY24 & 9MFY24 results: Financial Highlights for Q3FY24: The Revenue stood at Rs 230 crore for Q3FY24 as against Rs 219 crore for Q3FY23. Gross margins improved to 46.6% for Q3FY24 as against 41.1% in Q3FY23. EBIDTA margins was 29.1% for Q3FY24 as against 24.2% in Q3FY23. Geographical spread of total revenue for the quarter stands as follows: India – 80% and Exports – 20% Financial Highlights for 9MFY24: Revenue stood at Rs 551.7 crore for 9MFY24 as against Rs 550.9 crore for 9MFY23. EBITDA stood at Rs 113.1 crore for 9MFY24 as against Rs 118.4 crore for 9MFY23. EBITDA margin for 9MFY24 stood at 20.5% vs 21.5% in 9MFY23 Profit after Tax of Rs 62.6 crore in 9MFY24 as against Rs 64.3 crore in 9MFY23. Commenting on the performance S G Reddy, Managing Director, Astra Microwave Products Limited said, “I am delighted to share that during this quarter, we recorded our highest ever quarterly EBITDA and PAT of Rs. 67 Crores and Rs. 42 Crores, respectively. This significant uptick in the profitability is primarily due to the product mix, which was mainly tilted towards executing Domestic Defence orders with higher value addition. The continuous growth of India's Defence sector presents vast opportunities and the same has been reiterated in the recent budget where 13% of the total Union budget, amounting to Rs 6.21 trillion has been allocated to the Ministry of Defence for the fiscal year 2024-25. This was the highest allocation amongst all the ministries showcasing the importance placed by the government on defence sector. With a strong balance sheet position, deep domain expertise and high focus on R&D; we are well positioned in the defence value chain to capture a bigger pie of this growing sector. Our Orderbook as on 31st December 2023 stood at Rs. 1,813 Crore with more than 80% coming from healthy margin domestic business which gives us confidence to sustain such healthy performance in the coming future.” Result PDF
09-02-2024
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