Astra Microwave Secures Rs 240 Crore Orders in Q2, Aims to Double Revenue by FY28

Astra Microwave Products Limited , a key player in the defense, aerospace, and space electronics systems sector, has reported significant order inflows and ambitious growth targets for the coming years. The company secured orders worth Rs 240 crore in the second quarter of fiscal year 2026, maintaining its growth trajectory in the defense and space sectors.

Financial Performance

For the quarter ended September 30, 2025, Astra Microwave reported the following consolidated results:

Metric	Q2 FY26	Q2 FY25	YoY Change
Revenue	Rs 215.00 crore	Rs 230.00 crore	-6.5%
EBITDA	Rs 48.00 crore	Rs 49.00 crore	-2.8%
EBITDA Margin	22.3%	21.4%	+90 bps
PAT	Rs 24.00 crore	Rs 25.00 crore	-5.9%
PAT Margin	11.1%	11.1%	No change

Despite a slight dip in revenue, the company managed to maintain its profitability, with the EBITDA margin showing a slight improvement year-over-year.

Order Book and Future Outlook

Astra Microwave's order book stood at a robust Rs 2,209.00 crores as of September 30, 2025, providing visibility for future revenue growth. The company has set ambitious targets for the coming years:

15% revenue growth with a 22.3% EBITDA margin for FY26
Doubling revenue by FY28
Tripling revenue by FY30

These targets are expected to be achieved through the execution of key projects such as QRSAM, Uttam AESA, and Virupaksha AESA.

Strategic Initiatives

The company's growth strategy includes:

Focusing on indigenous development and production of high-end digital communication systems.
Expanding capabilities in Software Defined Radio (SDR), Electronic Warfare (EW), and Signal Intelligence (SIGINT) systems.
Leveraging joint ventures and partnerships to enhance technological capabilities and market reach.

Market Position

Astra Microwave's strong order book and strategic focus on defense and space sectors position it well to capitalize on India's growing emphasis on indigenous defense production. The company's ability to secure repeat orders from multiple defense agencies underscores its strong market position and technological capabilities.

As India's defense sector continues to expand, with projections indicating significant growth in defense budget and production by 2047, Astra Microwave appears well-positioned to benefit from these industry tailwinds.

While the company faces near-term challenges, as evidenced by the slight decline in quarterly revenue, its robust order book and strategic growth initiatives provide a solid foundation for future expansion. Investors should monitor the execution of key projects and the company's ability to meet its ambitious growth targets in the coming years.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.90%	-3.47%	-7.66%	+9.56%	+33.81%	+809.44%

Astra Microwave Products Limited , a leading player in the design and manufacturing of Defence, Aerospace & Space Electronics systems, has announced its unaudited financial results for the second quarter and first half of fiscal year 2026, ending September 30, 2025.

Key Financial Highlights (Standalone)

Particulars (Rs. in Cr)	Q2 FY26	Q2 FY25	YoY Change	H1 FY26	H1 FY25	YoY Change
Revenue from Operations	213.00	229.00	-6.9%	410.00	383.00	7.2%
EBITDA	46.00	49.00	-5.5%	85.00	72.00	17.3%
EBITDA Margin	21.7%	21.4%	-	20.6%	18.8%	-
PAT	21.00	24.00	-15.3%	34.00	30.00	13.5%
PAT Margin	9.7%	10.7%	-	8.2%	7.8%	-

Operational Highlights

The standalone order book stood at Rs. 1,916.00 crores as of September 30, 2025.
Orders received during the quarter amounted to Rs. 238.00 crores.
Geographical spread for Q2 FY26: India – 85.8% and Exports – 14.2%
Geographical spread for H1 FY26: India – 87.8% and Exports – 12.2%

Consolidated Performance

Particulars (Rs. in Cr)	Q2 FY26	Q2 FY25	YoY Change	H1 FY26	H1 FY25	YoY Change
Revenue from Operations	215.00	230.00	-6.5%	414.00	385.00	7.7%
EBITDA	48.00	49.00	-2.8%	89.00	73.00	21.2%
EBITDA Margin	22.3%	21.4%	-	21.4%	19.0%	-
PAT	24.00	25.00	-5.9%	40.00	33.00	23.3%
PAT Margin	11.1%	11.1%	-	9.7%	8.5%	-

The consolidated order book reached Rs. 2,209.00 crores as of September 30, 2025.

Management Commentary

Mr. S G Reddy, Managing Director of Astra Microwave Products Limited, commented on the performance: "In H1FY26, we delivered a strong half-yearly performance with improvement in revenues accompanied by margin expansion driven by a favorable revenue mix. The company delivered standalone revenues of Rs. 410.00 crores with EBITDA margin of 20.6% and PAT margin of 8.2%."

He further highlighted the company's recent achievements: "We are very proud that recently we contributed to ISRO's CMS-03 satellite, the heaviest communication satellite ever launched from Indian soil, marking a significant milestone in India's space history. During our 25+ years of engagements in the Indian Space programmes, we have been part of multiple such missions."

Recent Developments

In October 2025, Astra's joint venture company, Astra Rafael Comsys Pvt. Ltd., secured an order worth Rs. 286.00 crores from the Ministry of Defence for supplying advanced communication systems to the Indian Air Force's Special Forces.
The company continues to receive repeat orders for Software Defined Radio (SDR) requirements from multiple defence agencies.
Astra Microwave Products is aligning its strategy with India's 15-year defence sector roadmap, which focuses on greater indigenization, adoption of next-generation communication and warfare systems, and development of anti-drone technologies.

Outlook

The company remains optimistic about its future prospects, citing India's increasing focus on defence exports and R&D investments. These trends align with Astra's vision to strengthen its role in India's defence and aerospace growth.

About Astra Microwave Products Limited

Established in 1991, Astra Microwave Products Limited has grown substantially, continuously investing in infrastructure, captive test facilities, and other resources. The company's product portfolio spans across Defence, Aerospace & Space Electronics systems, sub-systems, and components. Astra has various certifications, including AS9100D & BS EN ISO 9001:2015, ISO27001:2013, ISO9001:2015, ISO14001:2015, ISO45001:2018, and ISO/IEC17025:2017.

With its diverse range of microwave products and significant contributions to India's space program, Astra Microwave Products Limited continues to be a key player in the defence and aerospace electronics sector.