Rs 1,800 crore order book: This multibagger aerospace & defence company executes an agreement with NewSpace India Ltd and IN-SPACe
The stock gave multibagger returns of 340 per cent in just 3 years and over 1,150 per cent in a decade.
Astra Microwave Products Ltd informed that the company executed a License - Cum - Transfer of Technology (ToT) agreement between NewSpace India Limited (NSIL), Bengaluru and Indian National Space Promotion and Authorization Centre (IN-SPACe), Department of Space (DOS), Ahmedabad to utilize the know-how relating to MiniSAR: X band Airborne SAR.
The TOT agreement was signed by Dr M.V. Reddy, JMD, Astra Microwave Products Limited; Mr Rajeev Jyoti, Technical Director of IN-SPACe and Mr. A. Arunachalam, Director of NSIL.
Astra Microwave Products Ltd has a very robust portfolio of Radars and this technology will help them enhance this further.
Earlier, the company received orders worth an aggregate amount of Rs 96.49 crore from the India Air Force and bagged orders worth Rs 158 crore from the Defence Research and Development Organisation (DRDO), Indian Space Research Organisation (ISRO) and Defence Public Sector Undertakings (DPSUs).
Astra Microwave Products is involved in the development, design, and manufacture of sub-systems for Radio Frequency and microwave systems used in defence, space, meteorology, and telecommunication.
On Wednesday, shares of Astra Microwave Products Ltd zoomed 6.93 per cent to Rs 479.10 per share from its previous closing of Rs 448.05. The shares of the company traded at an intraday high of Rs 513.05 and an intraday low of Rs 470.85. The stock also made a new 52-week high of Rs 513.05 per share with a spurt in volume by more than 5.41 times on BSE.
The company has a market capitalization of over Rs 4,500 crore. The company has been maintaining a healthy dividend payout of 29.3 per cent. Including the above order, the company’s order book stands at over Rs 1,800 crore. The net sales increased by 9 per cent to Rs 816 crore and net profit increased by 84 per cent to Rs 70 crore in FY23 compared to FY22.
The stock gave multibagger returns of 340 per cent in just 3 years and over 1,150 per cent in a decade. Investors should keep an eye on this Small-Cap aerospace & defence stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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