Rs 2,097 crore order book: Defence company bags order worth Rs 255.88 crore from Ministry of Defence
The shares of the company saw a spurt in volume by more than 4.69 times.
On Friday, the shares of Astra Microwave Products Ltd gained 6.54 per cent to Rs 868.50 per share from its previous closing of Rs 815.20 per share. The stock is up by 70 per cent from its 52-week low of Rs 510.65 per share and gave multibagger returns of 870 per cent in 5 years. The shares of the company saw a spurt in volume by more than 4.69 times.
Astra Microwave Products Limited, through its Joint Venture company, Astra Rafael Comsys Private Limited, has secured a significant order worth Rs 255.88 crore from the Ministry of Defence on December 13, 2024. This order entails the procurement of 93 additional sets of Software Defined Radios (SDR) LRUs, complete with A kits, SBC 2 cards, and Network Centric Operations applications, specifically designed for the Su-30 MKI fighter aircraft. The order is a testament to the company's technological prowess and its ability to deliver cutting-edge solutions to meet the evolving needs of the Indian Armed Forces. The contract is domestic in nature and is expected to be executed within a timeframe of 24 months.
Astra Microwave Products Ltd. is a leader in advanced technology for national security and communication systems, specializing in radio frequency (RF) and microwave components. They design, develop, and manufacture not only individual high-performance parts (super components) but also entire subsystems and complete systems for defence, space exploration, meteorology, telecommunication, and even civil communication applications. In simpler terms, their technology plays a critical role in everything from military radars and spacecraft electronics to weather stations and mobile phone networks.
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The company has a market capitalisation of Rs 8,000 crore. As of September 30, 2024, the company’s order book stands at Rs 2,097 crore which is executable in the next 12 to 36 months period. Additionally, as of September 2024, an ace investor, Atim Kabra owns a 3.53 per cent stake. Furthermore, FIIs & DIIs have increased their stake to 5.69 per cent and 14.98 per cent, respectively in June 2024 compared to June 2024.
Investors should keep an eye on this Small-Cap aerospace & defence stock.
Disclaimer: The article is for informational purposes only and not investment advice.