Astra Microwave Products Ltd has officially executed a Memorandum of Understanding (MoU) with Bharat Electronics Limited (BEL), a PSU under Ministry of Defence, Government of India. The strategic partnership establishes a comprehensive framework for collaborative work in advanced defence electronics and aerospace technologies.

MoU Execution and Regulatory Disclosure

The company has formally disclosed the MoU execution under Regulation 30 of SEBI (LODR) Regulations, 2015, providing detailed information about this significant partnership. The agreement was executed with BEL, which operates as a public sector undertaking under the Ministry of Defence.

Expanded Collaboration Scope

The MoU encompasses a broader scope than initially outlined, focusing on collaborative design, development and manufacturing of advanced electronic modules, subsystems and systems for defence electronics and aerospace applications. The partnership specifically targets critical technology domains including Electronic Warfare (EW), radar systems and satellites.

Strategic Partnership Objectives

This strategic partnership aims to strengthen efforts toward fostering indigenous design and production capabilities in advanced technology domains critical for national defence. The collaboration leverages Astra Microwave's specialization in microwave and RF solutions alongside BEL's extensive experience in defence electronics manufacturing.

The agreement confirms that no special rights are agreed between the parties, including rights to appoint directors, first right to share subscription in case of share issuance, or rights to restrict changes in capital structure. The parties are not related to promoter/promoter group/group companies, and the transaction does not fall within related party transactions.

Defence Manufacturing Ecosystem Impact

The partnership represents a significant development in India's defence manufacturing ecosystem, bringing together complementary capabilities for sophisticated defence electronics systems development. This collaboration aligns with the broader trend of strategic alliances within India's defence sector, focusing on indigenous technology development and reducing import dependence for critical defence applications.

Astra Microwave Products Limited has secured a significant order worth ₹124.00 crores from its joint venture partner, marking another milestone in the company's defense technology portfolio. The order was received from Astra Rafael Comsys Private Limited, a joint venture company, for the supply of specialized defense equipment.

Order Details and Specifications

The comprehensive order encompasses multiple critical components for defense applications. The contract includes supply of modules, cable assemblies, and antenna systems specifically designed for Software Defined Radio (SDR) technology. This order value of ₹124.00 crores is inclusive of all applicable taxes, providing clarity on the total financial impact.

Transaction Structure and Compliance

The order represents a related party transaction due to the joint venture relationship between the companies. However, the transaction has been structured at arm's length pricing, ensuring compliance with regulatory requirements. The domestic nature of the contract simplifies execution logistics and regulatory compliance.

Key transaction characteristics include:

• Related Party Nature: Order from joint venture company
• Pricing Structure: Arm's length transaction
• Geographic Scope: Domestic entity transaction
• Regulatory Compliance: Full adherence to SEBI LODR Regulations

Strategic Significance

This order reinforces Astra Microwave Products' position in the defense electronics sector, particularly in Software Defined Radio technology. The 9-12 month execution timeline indicates a substantial project scope that will contribute to the company's revenue stream over the coming quarters. The involvement of the joint venture partner demonstrates the collaborative approach in executing complex defense projects.

Regulatory Disclosure

The company has made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The announcement was made on December 12, 2025, ensuring timely communication to stakeholders and maintaining transparency in corporate governance practices.