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Astra Microwave Products Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹925.22Overvalued by 16.72%vs CMP ₹1,111.00

P/E (65.7) × ROE (14.4%) × BV (₹122.00) × DY (0.20%)

₹436.99Overvalued by 60.67%vs CMP ₹1,111.00
MoS: -154.2% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,212.6223%Fair (+9.1%)
Graham NumberEarnings₹215.3817%Over (-80.6%)
Earnings PowerEarnings₹74.2811%Over (-93.3%)
DCFCash Flow₹384.1511%Over (-65.4%)
Net Asset ValueAssets₹122.487%Over (-89%)
EV/EBITDAEnterprise₹290.899%Over (-73.8%)
Earnings YieldEarnings₹169.007%Over (-84.8%)
ROCE CapitalReturns₹144.937%Over (-87%)
Revenue MultipleRevenue₹110.696%Over (-90%)
Consensus (9 models)₹436.99100%Overvalued
Key Drivers: EPS CAGR 31.1% lifts DCF — verify sustainability. | Wide model spread (₹74–₹1,213) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 31.1%

*Investments are subject to market risks

Analyst Summary

Astra Microwave Products Ltd operates in the Aerospace & Defense segment, current market price is ₹1,111.00, market cap is 10,549 Cr.. At a glance, stock P/E is 65.7, ROE is 14.4 %, ROCE is 18.7 %, book value is 122, dividend yield is 0.20 %. The latest intrinsic value estimate is ₹436.99, around 60.7% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹1,051 Cr versus the prior period change of 15.6%, while latest net profit is about ₹154 Cr with a prior-period change of 27.3%. The 52-week range shown on this page is 1,196/811, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisAstra Microwave Products Ltd. is a Public Limited Listed company incorporated on 13/09/1991 and has its registered office in the State of Telangana, India. Company's Corporate Identification Number(CI…

This summary is generated from the stock page data available for Astra Microwave Products Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

64
Astra Microwave Products Ltd scores 64/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health81/100 · Strong
ROCE 18.7% GoodROE 14.4% GoodD/E 0.21 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding up 0.96% (6mo) Slight increaseDII holding down 0.55% MF sellingPromoter holding at 6.5% Stable
Earnings Quality55/100 · Moderate
OPM expanding (15% → 24%) ImprovingWorking capital: 283 days Capital intensive
Quarterly Momentum68/100 · Strong
Revenue (4Q): +12% YoY GrowingProfit (4Q): +24% YoY Positive
Industry Rank50/100 · Moderate
P/E 65.7 vs industry 91.3 In-lineROCE 18.7% vs industry 21.2% Average3Y sales CAGR: 12% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: May 4, 2026, 11:52 pm

Market Cap 10,549 Cr.
Current Price 1,111
Intrinsic Value₹436.99
High / Low 1,196/811
Stock P/E65.7
Book Value 122
Dividend Yield0.20 %
ROCE18.7 %
ROE14.4 %
Face Value 2.00
PEG Ratio2.12

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

View Share Price Target for Astra Microwave Products Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Astra Microwave Products Ltd 10,549 Cr. 1,111 1,196/81165.7 1220.20 %18.7 %14.4 % 2.00
Apollo Micro Systems Ltd 10,541 Cr. 296 355/113108 30.30.08 %14.5 %10.2 % 1.00
Zen Technologies Ltd 13,793 Cr. 1,528 2,268/1,22394.6 2020.13 %11.2 %8.31 % 1.00
Paras Defence and Space Technologies Ltd 6,310 Cr. 782 972/58085.0 84.00.03 %16.6 %11.8 % 5.00
DCX Systems Ltd 2,251 Cr. 202 364/15364.8 1050.00 %5.10 %3.14 % 2.00
Industry Average71,740.91 Cr2,116.7391.32180.710.26%21.19%15.63%4.00

All Competitor Stocks of Astra Microwave Products Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 175220258134190231354155230259408200215
Expenses 136169226131148165273131180182289159167
Operating Profit 39513334266812449761184148
OPM % 22%23%13%2%22%29%23%15%21%29%29%20%22%
Other Income 221296643101148
Interest 78107689101315191513
Depreciation 6666676861011910
Profit before tax 283818-838577193462992132
Tax % 27%28%25%-18%22%25%24%23%25%23%26%23%26%
Net Profit 212814-730435472547731624
EPS in Rs 2.373.201.56-0.713.164.575.730.762.675.007.741.712.52

Last Updated: January 13, 2026, 1:21 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 23, 2026, 10:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 5236224063903622934676417508169091,0511,082
Expenses 434507305286249263380564663670717782793
Operating Profit 8911610110311431887787145192269290
OPM % 17%19%25%27%31%10%19%12%12%18%21%26%27%
Other Income 8696825121165242731
Interest 12151415151315262131325760
Depreciation 15222424272926242224253542
Profit before tax 70857170801359395096159204219
Tax % 27%26%21%17%23%27%26%25%25%27%24%25%
Net Profit 51635658611044293870121154160
EPS in Rs 6.217.676.506.657.051.135.083.334.378.0612.7516.1716.90
Dividend Payout % 18%16%18%15%17%22%24%36%32%20%16%14%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)23.53%-11.11%3.57%5.17%-83.61%340.00%-34.09%31.03%84.21%72.86%27.27%
Change in YoY Net Profit Growth (%)0.00%-34.64%14.68%1.60%-88.78%423.61%-374.09%65.13%53.18%-11.35%-45.58%

Astra Microwave Products Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:5%
5 Years:18%
3 Years:12%
TTM:18%
Compounded Profit Growth
10 Years:9%
5 Years:29%
3 Years:58%
TTM:20%
Stock Price CAGR
10 Years:26%
5 Years:53%
3 Years:44%
1 Year:16%
Return on Equity
10 Years:11%
5 Years:11%
3 Years:14%
Last Year:14%

Last Updated: September 4, 2025, 11:55 pm

Balance Sheet

Last Updated: December 4, 2025, 12:59 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 16161717171717171717191919
Reserves 2252753824334844825235415686259471,0791,144
Borrowings 61927013895176012270186238424278
Other Liabilities 26311182618099296265313228270329326
Total Liabilities 5654955516496766158959459691,0571,4741,8511,766
Fixed Assets 126142137150194178161153160167170229227
CWIP 0013712120021331
Investments 200571263526301411243236
Other Assets 4363544134053554006967627958771,2671,5871,501
Total Assets 5654955516496766158959459691,0571,4741,8511,766

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -26-559141791-7-25115-25-182-90
Cash from Investing Activity + -14-28-18-123-9485-30-1-26-28-44-76
Cash from Financing Activity + 0112146-65-983734-7975232141
Net Cash Flow -39-2262-6320-12-1810217-25
Free Cash Flow -67-3937-58145-12-25-2887-59-229-169
CFO/OP -29%-4%58%30%170%42%12%-22%155%0%-75%-18%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow28.0024.0031.00-35.0019.0014.0028.00-45.0017.00-41.00-46.00-155.00

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 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 9266159206192239195152100127203273
Inventory Days 166149208252266314390270290295344389
Days Payable 2356569343655843138325648
Cash Conversion Cycle 23150299424421498501391352390491614
Working Capital Days 5497218231154306211182174180269283
ROCE %30%29%20%16%15%3%13%10%11%17%19%19%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 7.17%6.54%6.54%6.54%6.54%6.54%6.54%6.54%6.54%6.54%6.54%6.54%
FIIs 2.32%3.03%1.73%2.94%3.17%4.67%5.69%5.19%5.30%6.47%6.47%6.26%
DIIs 0.07%9.86%15.26%14.79%13.59%13.57%14.98%15.36%15.30%14.36%14.55%14.75%
Public 90.44%80.58%76.47%75.74%76.70%75.22%72.79%72.90%72.86%72.62%72.44%72.44%
No. of Shareholders 49,52846,50656,28271,36873,48393,50599,07195,79094,3671,07,3841,17,1991,17,439

Shareholding Pattern Chart

No. of Shareholders

Astra Microwave Products Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Defence Fund 4,116,306 5.19 404.472,448,4562025-12-07 05:12:1168.12%
Nippon India Small Cap Fund 2,200,000 0.33 216.172,346,0092025-12-08 07:42:13-6.22%
Kotak Large & Midcap Fund 1,481,481 0.49 145.57N/AN/AN/A
ICICI Prudential ELSS Tax Saver Fund 744,680 0.51 73.17742,3642026-01-25 08:19:300.31%
ICICI Prudential Multicap Fund 597,671 0.37 58.73406,3002026-02-22 09:03:0547.1%
Kotak Large Cap Fund 384,000 0.35 37.73N/AN/AN/A
Kotak Infrastructure & Economic Reform Fund 300,000 1.31 29.48N/AN/AN/A
ICICI Prudential PSU Equity Fund 109,924 0.56 10.8N/AN/AN/A
ICICI Prudential MidCap Fund 10,535 0.01 1.04N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 16.1712.868.064.373.33
Diluted EPS (Rs.) 16.1712.868.064.373.33
Cash EPS (Rs.) 18.8714.1111.147.186.38
Book Value[Excl.RevalReserv]/Share (Rs.) 115.70101.7674.2067.6164.51
Book Value[Incl.RevalReserv]/Share (Rs.) 115.70101.7674.2067.6164.51
Revenue From Operations / Share (Rs.) 110.7195.7294.1686.6574.00
PBDIT / Share (Rs.) 30.1821.4117.6811.0410.17
PBIT / Share (Rs.) 26.4918.7814.948.497.45
PBT / Share (Rs.) 20.4715.4811.426.064.78
Net Profit / Share (Rs.) 15.1811.488.404.633.66
NP After MI And SOA / Share (Rs.) 16.1712.758.064.373.33
PBDIT Margin (%) 27.2622.3618.7712.7313.73
PBIT Margin (%) 23.9219.6115.879.8010.06
PBT Margin (%) 18.4916.1712.126.996.45
Net Profit Margin (%) 13.7111.998.925.344.94
NP After MI And SOA Margin (%) 14.6013.328.565.044.50
Return on Networth / Equity (%) 13.9712.5310.866.465.16
Return on Capital Employeed (%) 20.8417.1417.9611.6211.46
Return On Assets (%) 8.298.216.603.913.05
Long Term Debt / Equity (X) 0.030.010.010.010.00
Total Debt / Equity (X) 0.380.240.280.120.21
Asset Turnover Ratio (%) 0.630.710.800.770.65
Current Ratio (X) 2.422.852.532.301.98
Quick Ratio (X) 1.461.661.281.051.12
Inventory Turnover Ratio (X) 1.861.201.321.511.59
Dividend Payout Ratio (NP) (%) 12.3612.5417.3627.4436.02
Dividend Payout Ratio (CP) (%) 10.0710.4012.9717.3419.83
Earning Retention Ratio (%) 87.6487.4682.6472.5663.98
Cash Earning Retention Ratio (%) 89.9389.6087.0382.6680.17
Interest Coverage Ratio (X) 5.026.495.024.533.81
Interest Coverage Ratio (Post Tax) (X) 3.524.483.382.902.37
Enterprise Value (Cr.) 6727.955762.612020.321937.781201.52
EV / Net Operating Revenue (X) 6.406.342.482.581.87
EV / EBITDA (X) 23.4828.3513.2020.2713.65
MarketCap / Net Operating Revenue (X) 6.096.222.392.591.75
Retention Ratios (%) 87.6387.4582.6372.5563.97
Price / BV (X) 5.835.853.033.322.01
Price / Net Operating Revenue (X) 6.096.222.392.591.75
EarningsYield 0.020.020.030.010.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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 Telangana, 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. 1044.23 Cr. and Equity Capital is Rs. 18.99 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Aerospace & DefenseASTRA Towers, Hyderabad Telangana 500038Contact not found
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
Mr. Venu Raman KumarIndependent Director
Mrs. Anuradha MookerjeeIndependent Director

FAQ

What is the intrinsic value of Astra Microwave Products Ltd and is it undervalued?

As of 10 May 2026, Astra Microwave Products Ltd's intrinsic value is ₹436.99, which is 60.67% lower than the current market price of ₹1,111.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (14.4 %), book value (₹122), dividend yield (0.20 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Astra Microwave Products Ltd?

Astra Microwave Products Ltd is trading at ₹1,111.00 as of 10 May 2026, with a FY2026-2027 high of ₹1,196 and low of ₹811. The stock is currently near its 52-week high. Market cap stands at ₹10,549 Cr..

How does Astra Microwave Products Ltd's P/E ratio compare to its industry?

Astra Microwave Products Ltd has a P/E ratio of 65.7, which is below the industry average of 91.32. This is broadly in line with or below the industry average.

Is Astra Microwave Products Ltd financially healthy?

Key indicators for Astra Microwave Products Ltd: ROCE of 18.7 % indicates efficient capital utilization. Dividend yield is 0.20 %.

Is Astra Microwave Products Ltd profitable and how is the profit trend?

Astra Microwave Products Ltd reported a net profit of ₹154 Cr in Mar 2025 on revenue of ₹1,051 Cr. Compared to ₹38 Cr in Mar 2022, the net profit shows an improving trend.

Does Astra Microwave Products Ltd pay dividends?

Astra Microwave Products Ltd has a dividend yield of 0.20 % at the current price of ₹1,111.00. The company pays dividends, though the yield is modest.

Last Updated: May 4, 2026, 11:52 pm
Author: Getaka|Social: XLinkedIn
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
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