Rs 1,813 crore order book & FIIs increase stake: This multibagger aerospace & defence stock bags new orders worth Rs 56 crore from Hindustan Aeronautics Ltd

The stock gave multibagger returns of over 160 per cent from its 52-week low of Rs 240 per share and a whopping 420 per cent in 3 years.

Astra Microwave Products Ltd announced that the company has bagged orders worth Rs 56 crore (inclusive of taxes and duties) for the supply, installation, testing and commissioning of the Precision Approach Radar (PAR) system with AMC for 10 years from Hindustan Aeronautics Limited, Bangalore. The order will be completed within 10 months from the letter of intent.

Earlier, the company as bagged orders worth Rs 385.58 crore for the supply of MPR sub-systems from Bharat Electronics Limited, Ghaziabad (BEL). The order will be completed within 36 months from the letter of intent.

Astra Microwave Products Ltd. is a company specializing in advanced technology for national security and communication systems. They focus on radio frequency (RF) and microwave technology, designing, developing, and manufacturing crucial components for a variety of applications. Their expertise lies in creating not only individual parts (super components) but also entire subsystems and even complete systems.

Astra Microwave Products caters to several key sectors: defence, space exploration, meteorology (weather forecasting), telecommunication, and even civil communication applications. This means their technology is used in everything from military radars and spacecraft electronics to weather stations and mobile phone networks.

The company has a market capitalisation of Rs 5,995 crore. The company has been maintaining a healthy dividend payout of 29.3 per cent. As of December 31, 2023, the company’s order book stands at Rs 1,813 crore which is executable in the next 12 to 36 months period. Additionally, as of December 2023, an ace investor, Atim Kabra owns a 3.53 per cent stake in the company and FIIs have increased their stake to 2.94 per cent in December 2023 compared to 1.73 per cent in September 2023.

Today, shares of Astra Microwave Products Ltd 1.86 per cent to Rs 634.60 per share from its previous closing of Rs 623. The stock’s 52-week high is Rs 690 per share and its 52-week low is Rs 240. The stock gave multibagger returns of over 160 per cent from its 52-week low of Rs 240 per share and a whopping 420 per cent in 3 years. Investors should keep an eye on this Small-Cap aerospace & defence stock. 

Disclaimer: The article is for informational purposes only and not investment advice.