Rs 1,813 crore order book: This multibagger defence sector stock bagged new orders worth Rs 385.58 crore from Bharat Electronics Limited!
Shares of the company gained more than 35 per cent in the last six months.
Astra Microwave Products Limited has secured orders valued at Rs. 385.58 crore from Bharat Electronics Limited (BEL), Ghaziabad, a domestic entity. This contract involves supplying MPR sub-systems within a 36-month timeframe. The substantial order value of Rs. 385.58 crore signifies a positive development for Astra Microwave.
Over the past year, the share price has surged over 140 per cent, translating to a potential Rs 1 lakh investment growing to Rs 2.40 lakh in that time frame.
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In Q3FY24, the company posted a 4.86 per cent increase in its consolidated revenue at Rs 231.02 crore compared to Rs 220.30 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 69.74 crore, while the PAT of the company stood at Rs 40.84 crore, from Rs 27.80 crore last year same quarter. The company has an order book of Rs 1,813 crore as of February 2024.
Astra Microwave Products Limited (AMPL) designs, develops and manufactures sub-systems for RF and microwave systems used in defence, space, meteorology and telecommunication. Being a company with a strong R&D background, the company has undertaken the production of equipment from R&D labs to reduce the production lead times. It has also demonstrated its capability to provide complete solutions from concept to product realization using in-house engineering.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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