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Last Updated on: 21 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Astra Microwave Products Ltd: Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 21, 2024, 10:27 pm

Market Cap 7,098 Cr.
Current Price 747
High / Low1,060/510
Stock P/E54.4
Book Value 103
Dividend Yield0.27 %
ROCE18.8 %
ROE15.0 %
Face Value 2.00
PEG Ratio7.50

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Astra Microwave Products Ltd

Competitors of Astra Microwave Products Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
DCX Systems Ltd 3,540 Cr. 317452/23567.4 1020.00 %9.27 %8.08 % 2.00
Data Patterns (India) Ltd 12,866 Cr. 2,2993,655/1,75169.5 2410.28 %19.7 %14.3 % 2.00
Paras Defence and Space Technologies Ltd 3,843 Cr. 9541,593/60977.8 1220.00 %11.4 %7.96 % 10.0
Zen Technologies Ltd 16,101 Cr. 1,7821,999/68879.5 1730.06 %47.3 %33.1 % 1.00
Mishra Dhatu Nigam Ltd 5,818 Cr. 311548/30566.5 72.00.45 %9.44 %7.00 % 10.0
Industry Average51,805.09 Cr1,188.1159.34144.000.37%23.06%17.11%4.45

All Competitor Stocks of Astra Microwave Products Ltd

Quarterly Result

Month

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2011Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales157220523622406390362293467641750816803
Expenses115156434507305286249263380564663670674
Operating Profit42648911610110311431887787145128
OPM %27%29%17%19%25%27%31%10%19%12%12%18%16%
Other Income27869682512116514
Interest771215141515131526213132
Depreciation13131522242427292624222424
Profit before tax24507085717080135939509686
Tax %24%26%27%26%21%17%23%27%26%25%25%27%
Net Profit19375163565861104429387064
EPS in Rs2.274.556.217.676.506.657.051.135.083.334.378.067.21
Dividend Payout %22%18%18%16%18%15%17%22%24%36%32%20%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)37.84%23.53%-11.11%3.57%5.17%-83.61%340.00%-34.09%31.03%84.21%
Change in YoY Net Profit Growth (%)0.00%-14.31%-34.64%14.68%1.60%-88.78%423.61%-374.09%65.13%53.18%

Astra Microwave Products Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 10 years from 2013-2014 to 2022-2023.

Growth

Compounded Sales Growth
10 Years:6%
5 Years:25%
3 Years:12%
TTM:21%
Compounded Profit Growth
10 Years:9%
5 Years:105%
3 Years:61%
TTM:102%
Stock Price CAGR
10 Years:20%
5 Years:52%
3 Years:43%
1 Year:34%
Return on Equity
10 Years:11%
5 Years:10%
3 Years:11%
Last Year:15%

Last Updated: Unknown

Balance Sheet

Last Updated: November 15, 2024, 1:40 am

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital16161617171717171717171919
Reserves185225275382433484482523541568625947962
Borrowings4661927013895176012270186238306
Other Liabilities25226311182618099296265313228270320
Total Liabilities4995654955516496766158959459691,0571,4741,607
Fixed Assets108126142137150194178161153160167170187
CWIP00013712120021321
Investments242005712635263014112427
Other Assets3674363544134053554006967627958771,2671,372
Total Assets4995654955516496766158959459691,0571,4741,607

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +114-26-559141791-7-25115-25-182
Cash from Investing Activity +-47-14-28-18-123-9485-30-1-26-28-44
Cash from Financing Activity +-240112146-65-983734-7975232
Net Cash Flow43-39-2262-6320-12-1810217

Free Cash Flow

MonthMar 2011Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Free Cash Flow42.0018.0028.0024.0031.00-35.0019.0014.0028.00-45.0017.00-41.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days2389266159206192239195152100127203
Inventory Days268166149208252266314390270290295344
Days Payable12123565693436558431383256
Cash Conversion Cycle38523150299424421498501391352390491
Working Capital Days472126219291175309254252207262358
ROCE %30%29%20%16%15%3%13%10%11%17%19%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Promoters8.71%8.71%8.71%8.46%8.28%8.27%7.17%6.54%6.54%6.54%6.54%6.54%
FIIs1.45%1.43%1.82%2.17%3.13%2.32%2.32%3.03%1.73%2.94%3.17%4.67%
DIIs1.68%0.58%0.29%0.16%0.07%0.07%0.07%9.86%15.26%14.79%13.59%13.57%
Public88.16%89.28%89.18%89.20%88.52%89.34%90.44%80.58%76.47%75.74%76.70%75.22%
No. of Shareholders39,80438,58940,19339,15044,06947,70349,52846,50656,28271,36873,48393,505

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
360 ONE Focused Equity Fund2,459,0502.27105.211,481,4812024-11-2065.99%
HDFC Defence Fund2,448,4567.78104.761,481,4812024-11-2065.27%
Nippon India Small Cap Fund2,346,0090.27100.371,481,4812024-11-2058.36%
Kotak Equity Opportunities Fund - Regular Plan1,481,4810.4163.391,481,4812024-11-200%
Kotak India EQ Contra Fund - Regular Plan370,3700.8515.851,481,4812024-11-20-75%
360 ONE FlexiCap Fund135,2512.175.791,481,4812024-11-20-90.87%
360 ONE Balanced Hybrid Fund86,9990.983.721,481,4812024-11-20-94.13%
Motilal Oswal Nifty Microcap 250 Index Fund70,1480.7731,481,4812024-11-20-95.27%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)12.868.064.373.335.08
Diluted EPS (Rs.)12.868.064.373.335.08
Cash EPS (Rs.)14.1111.147.186.388.21
Book Value[Excl.RevalReserv]/Share (Rs.)101.7674.2067.6164.5162.36
Book Value[Incl.RevalReserv]/Share (Rs.)101.7674.2067.6164.5162.36
Revenue From Operations / Share (Rs.)95.7294.1686.6574.0053.94
PBDIT / Share (Rs.)21.4117.6811.0410.1710.93
PBIT / Share (Rs.)18.7814.948.497.457.95
PBT / Share (Rs.)15.4811.426.064.786.98
Net Profit / Share (Rs.)11.488.404.633.665.23
NP After MI And SOA / Share (Rs.)12.758.064.373.335.08
PBDIT Margin (%)22.3618.7712.7313.7320.25
PBIT Margin (%)19.6115.879.8010.0614.74
PBT Margin (%)16.1712.126.996.4512.93
Net Profit Margin (%)11.998.925.344.949.70
NP After MI And SOA Margin (%)13.328.565.044.509.42
Return on Networth / Equity (%)12.5310.866.465.168.15
Return on Capital Employeed (%)17.1417.9611.6211.4612.67
Return On Assets (%)8.216.603.913.054.91
Long Term Debt / Equity (X)0.010.010.010.000.00
Total Debt / Equity (X)0.240.280.120.210.10
Asset Turnover Ratio (%)0.710.800.770.650.62
Current Ratio (X)2.852.532.301.981.96
Quick Ratio (X)1.661.281.051.121.15
Inventory Turnover Ratio (X)1.201.321.511.591.78
Dividend Payout Ratio (NP) (%)0.0017.3627.4436.024.91
Dividend Payout Ratio (CP) (%)0.0012.9717.3419.833.10
Earning Retention Ratio (%)0.0082.6472.5663.9895.09
Cash Earning Retention Ratio (%)0.0087.0382.6680.1796.90
Interest Coverage Ratio (X)6.495.024.533.8111.19
Interest Coverage Ratio (Post Tax) (X)4.483.382.902.376.36
Enterprise Value (Cr.)5762.612020.321937.781201.52452.01
EV / Net Operating Revenue (X)6.342.482.581.870.96
EV / EBITDA (X)28.3513.2020.2713.654.78
MarketCap / Net Operating Revenue (X)6.222.392.591.750.96
Retention Ratios (%)0.0082.6372.5563.9795.08
Price / BV (X)5.853.033.322.010.83
Price / Net Operating Revenue (X)6.222.392.591.750.96
EarningsYield0.020.030.010.020.09

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Astra Microwave Products Ltd as of November 21, 2024 is: 842.75

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 21, 2024, Astra Microwave Products Ltd is Undervalued by 12.82% compared to the current share price 747.00

Default values used*: Default value of 15% for ROE is used

Intrinsic Value of Astra Microwave Products Ltd as of November 21, 2024 is: 903.88

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 21, 2024, Astra Microwave Products Ltd is Undervalued by 21.00% compared to the current share price 747.00

Default values used*: Default value of 15% for ROE is used

Last 5 Year EPS CAGR: 7.25%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The stock has a high average ROCE of 15.25%, which is a positive sign.
  2. The company has higher reserves (510.15 cr) compared to borrowings (115.46 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (496.15 cr) and profit (61.00 cr) over the years.
  1. The stock has a high average Working Capital Days of 210.75, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 360.42, which may not be favorable.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Astra Microwave Products Ltd:
    1. Net Profit Margin: 11.99%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 17.14% (Industry Average ROCE: 23.06%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 12.53% (Industry Average ROE: 17.11%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 4.48
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.66
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 54.4 (Industry average Stock P/E: 59.34)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.24
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Astra Microwave Products Ltd. is a Public Limited Listed company incorporated on 13/09/1991 and has its registered office in the State of Andhra Pradesh, India. Company’s Corporate Identification Number(CIN) is L29309TG1991PLC013203 and registration number is 013203. Currently Company is involved in the business activities of RF and Microwave. Company’s Total Operating Revenue is Rs. 734.96 Cr. and Equity Capital is Rs. 17.32 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Aerospace & DefenseASTRA Towers, Survey No.12 (P), Hyderabad Telangana 500038info@astramwp.com
http://www.astramwp.com
Management
NamePosition Held
Dr. Avinash ChanderChairman & Ind.Director
Mr. S Gurunatha ReddyManaging Director
Dr. M Venkateshwar ReddyJoint Managing Director
Mr. P A ChitrakarNon Executive Director
Mr. Suresh Kumar SomaniNon Executive Director
Mr. Atim KabraDirector
Mrs. Kiran DhingraIndependent Director
Mr. S VaradarajanIndependent Director

FAQ

What is the latest intrinsic value of Astra Microwave Products Ltd?

The latest intrinsic value of Astra Microwave Products Ltd as on 21 November 2024 is ₹842.75, which is 12.82% higher than the current market price of ₹747.00.

What is the Market Cap of Astra Microwave Products Ltd?

The Market Cap of Astra Microwave Products Ltd is 7,098 Cr..

What is the current Stock Price of Astra Microwave Products Ltd as on 21 November 2024?

The current stock price of Astra Microwave Products Ltd as on 21 November 2024 is ₹747.

What is the High / Low of Astra Microwave Products Ltd stocks in FY 2024?

In FY 2024, the High / Low of Astra Microwave Products Ltd stocks is 1,060/510.

What is the Stock P/E of Astra Microwave Products Ltd?

The Stock P/E of Astra Microwave Products Ltd is 54.4.

What is the Book Value of Astra Microwave Products Ltd?

The Book Value of Astra Microwave Products Ltd is 103.

What is the Dividend Yield of Astra Microwave Products Ltd?

The Dividend Yield of Astra Microwave Products Ltd is 0.27 %.

What is the ROCE of Astra Microwave Products Ltd?

The ROCE of Astra Microwave Products Ltd is 18.8 %.

What is the ROE of Astra Microwave Products Ltd?

The ROE of Astra Microwave Products Ltd is 15.0 %.

What is the Face Value of Astra Microwave Products Ltd?

The Face Value of Astra Microwave Products Ltd is 2.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Astra Microwave Products Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE