Astra Microwave Products has scheduled its 35th Annual General Meeting for September 18, 2026. The meeting will address key corporate governance changes, including leadership redesignations and significant related-party transaction approvals.

The Board of Directors has recommended a final dividend of ₹2.40 per equity share for FY26, subject to shareholder approval. The record date for determining dividend entitlement is set for September 11, 2026. Shareholders on record by this date will be eligible to receive the payout, which will be paid after deducting applicable taxes at source.

E-Voting and Meeting Logistics

The AGM will be held via electronic mode (Video Conference or Other Audio-Visual Means) at 3:00 pm IST. Remote e-voting is available from 9:30 am on Monday, September 14, 2026, until 5:00 pm on Thursday, September 17, 2026. Members who have cast their votes remotely cannot vote again during the meeting. Those present via VC/OAVM who have not voted remotely may vote electronically during the session.

Leadership Restructuring

A central focus of the AGM is the proposed redesignation of Dr. M. V. Reddy from Joint Managing Director to Managing Director. This change is effective from October 1, 2026, for the remainder of his tenure until April 29, 2028.

The resolution outlines a revised remuneration structure for Dr. Reddy, featuring a basic salary of ₹6 lakh per month. His performance bonus is capped at ₹3.2 crore, linked to revenue (30% weightage), EBITDA (30%), and strategic initiatives including ESG and human capital management.

Additionally, the Board seeks approval to revise the remuneration of Whole-time Director Mr. Atim Kabra. Effective October 1, 2026, his basic salary will increase to ₹5.42 lakh per month, with a performance bonus ceiling of ₹80 lakh. Both appointments aim to align executive compensation with the company’s expanding operations in Defence, Space, and Meteorology sectors.

Related Party Transactions

Shareholders will vote on an omnibus approval for material related-party transactions with Astra Rafael Comsys Private Limited (ARC), a joint venture in which Astra Microwave holds a 50% stake. The proposed aggregate value for FY27 is ₹200 crore.

This figure represents approximately 16.93% of the company’s consolidated turnover for FY26. In the preceding financial year (FY26), transactions with ARC totaled ₹160.09 crore. The approval covers the sale and purchase of materials, equipment, corporate guarantees, and miscellaneous services, all intended to be conducted on an arm’s length basis.

Exit Compensation and Director Re-appointments

The AGM will also approve a cash compensation payment of ₹1.35 crore to outgoing Managing Director Mr. S. Gurunatha Reddy. He ceased holding office on September 30, 2026. The compensation covers the unexpired portion of his tenure, calculated based on his average remuneration over the last three financial years.

Furthermore, Non-Executive Director Mr. P. A. Chitrakar and Executive Director Mr. Atim Kabra retire by rotation and offer themselves for re-appointment. Both directors attended all seven board meetings during FY26.

Astra Microwave Products submitted its Business Responsibility and Sustainability Report (BRSR) for FY26 to the stock exchanges on August 22, 2026. The disclosure covers the company’s environmental, social, and governance performance for the financial year ended March 31, 2026.

The report highlights significant reductions in resource consumption. Total energy consumption fell to 23,027.91 Giga Joules (GJ), down from 44,161.36 GJ in FY25. Similarly, total water withdrawal dropped to 46,159.62 kilolitres from 1,04,645.72 kilolitres the previous year.

Environmental Metrics

The company reported a sharp decline in greenhouse gas emissions. Total Scope 1 and Scope 2 emissions stood at 3,884.55 metric tonnes of CO2 equivalent in FY26, compared to 6,599.59 metric tonnes in FY25. Scope 3 emissions were disclosed at 8,495.18 metric tonnes for the first time.

Air emissions also decreased, with NOx levels falling to 40.12 mg/nm3 from 47.77 mg/nm3. Waste generation rose to 148.63 metric tonnes from 97.88 metric tonnes, driven largely by an increase in other hazardous waste to 82.31 metric tonnes.

Social and Governance

The workforce comprised 1,880 employees as of March 31, 2026. Women constituted 18.24% of the total employee base. The company recorded zero fatalities and zero lost-time injuries during the year. Employee turnover for permanent staff was 11.43%, down from 12.16% in FY25.

No complaints were received regarding sexual harassment, discrimination, or child labour. The company maintains a zero-tolerance policy towards such issues and has implemented grievance redressal mechanisms accessible via its intranet and website.

What the Numbers Show

The divergence between waste generation and resource consumption warrants attention. While energy and water usage dropped by more than half, total waste generated increased by approximately 52%. This suggests that operational efficiency gains in utilities did not translate into proportional reductions in material waste, particularly in hazardous categories.