Synopsis: Astra Microwave Products Limited posted a blockbuster Q4 FY26 on May 26, 2026, with consolidated net profit jumping 44% year-on-year to Rs. 106 crore, revenue surging nearly 20% to Rs. 488 crore, and a dividend of Rs. 2.40 per share declared for FY26 sending the stock up as much as 6% on the BSE intraday.
Shares of Astra Microwave Products Limited, with a market capitalization of Rs. 12,917 crore, are trading at a price of Rs. 1,360.9, up 10.14 percent from its previous closing price of Rs. 1,235.6. The stock touched an intraday high of Rs. 1,379.7, which is also its 52-week high, and is currently trading at a P/E ratio of 76.74.
Astra Microwave Products Limited announced its audited standalone and consolidated financial results for the quarter and full financial year ended March 31, 2026, at a Board meeting held on May 26, 2026. The numbers for the March quarter were sharply ahead of street expectations, triggering an immediate positive market reaction.
On a consolidated basis, the company reported a net profit of Rs. 105.98 crore in Q4 FY26, marking a 44.2% rise compared to Rs. 73.49 crore in the same quarter last year. Profit also jumped sharply by 126.4% from Rs. 46.81 crore reported in the December 2025 quarter. Revenue from operations stood at Rs. 488.24 crore, rising nearly 19.6% year-on-year from Rs. 408 crore and surging 88% sequentially from Rs. 260 crore in Q3 FY26, mainly due to faster execution of defence orders during the quarter.
Total consolidated income for Q4 FY26 stood at Rs. 495.23 crore, registering an 18.2% increase from Rs. 418.84 crore reported in the same quarter last year. EBITDA for the quarter rose 36% year-on-year to Rs. 162.5 crore from Rs. 119.6 crore, while EBITDA margin improved to 33.3% from 29.3% in Q4 FY25. The sharp improvement in margins highlights stronger operating efficiency and better execution during the quarter.
The financial results were audited by Price Waterhouse Chartered Accountants LLP, which issued an unmodified opinion on both the standalone and consolidated financial statements.
For the full financial year FY26, Astra Microwave delivered equally compelling numbers. Consolidated revenue from operations crossed Rs. 1,163 crore up 11% from Rs. 1,051 crore in FY25. Total consolidated income for FY26 stood at Rs. 1,181.29 crore, a 10.5% increase from Rs. 1,068.71 crore in the prior year.
Full-year consolidated net profit came in at Rs. 192.97 crore, a 25.7% rise from Rs. 153.51 crore in FY25. On a standalone basis, basic EPS improved to Rs. 18.73 per share from Rs. 15.10 per share in FY25, while consolidated basic EPS rose to Rs. 20.32 from Rs. 16.17 a 25.7% year-on-year improvement, reflecting the group’s growing profitability across its subsidiaries and joint ventures.
The order book position as of March 31, 2026 remains one of the most compelling aspects of the Astra story. The group and joint ventures together hold an order book of Rs. 2,609.99 crore including Rs. 230.68 crore in service orders providing strong multi-year revenue visibility.
Fresh orders booked during FY26 alone stood at Rs. 1,660.22 crore, indicating that the inflow pipeline remains robust and that Astra continues to win a significant share of India’s growing defence electronics spend.
Dividend Declared, Demerger Approved in Principle
Along with the strong Q4 FY26 results, the Board of Astra Microwave Products Limited recommended a final dividend of Rs. 2.40 per equity share for FY26, subject to shareholder approval at the upcoming Annual General Meeting. The dividend represents a 120% payout on the face value of Rs. 2 per share, while the record date and AGM schedule will be announced later.
The company is also moving ahead with a major restructuring plan aimed at unlocking value in its fast-growing space business. Earlier on February 27, 2026, the Board had given in-principle approval for the demerger of Astra Microwave’s Space, Meteorology, and Hydrology businesses into its wholly owned subsidiary, Astra Space Technologies Private Limited. The company plans to separately list this business on Indian stock exchanges after receiving final Board and regulatory approvals. The move comes at a time when space-tech companies are attracting strong investor interest and premium valuations in the Indian market.
Company Overiview
Founded in 1991 and headquartered in Hyderabad, Astra Microwave Products Limited is one of India’s leading manufacturers of radio frequency and microwave systems used in defence and space applications. The company operates multiple manufacturing facilities in Telangana and also has an R&D centre at Bangalore Aerospace Park.
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