Conference Call with Astra Microwave Products Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.
Defence company Astra Microwave Products announced H1FY25 & Q2FY25 results Q2FY25 Financial Highlights: Revenue stood at Rs 229 crore for Q2FY25 as against Rs 189 crore for Q2FY24. Gross margins was 39.6% for Q2FY25 as against 41.3% in Q2FY24. EBIDTA margins was 21.4% for Q2FY25 as against 22.0% in Q2FY24. PAT was at Rs 24 crore for Q2FY25 as against Rs 25 crore in Q2FY24. Geographical spread of total revenue for the quarter: India – 88.3% and Exports – 11.7%. H1FY25 Financial Highlights: Revenue stood at Rs 383 crore for H1FY25 as against Rs 322 crore for H1FY24. Gross margins improved to 40.5% for H1FY25 as against 35.6% in H1FY24. EBIDTA margins was 18.8% for H1FY25 as against 14.4% in H1FY24. PAT was at Rs 30 crore for H1FY25 as against Rs 21 crore in H1FY24. Geographical spread of total revenue for H1: India – 84.6% and Exports – 15.4%. S G Reddy, Managing Director, Astra Microwave Products, said: “With a decent start for the year in Q1, we reported an overall healthy performance for the first half of the year. On a YoY basis, we saw a 21% improvement in standalone revenue for Q2FY25 and 19% improvement for H1FY25. We were able to maintain attractive profitability levels with sustained margin expansions. The margin performance is mainly a reflection of our evolved and better product mix. We continue to remain focused on getting orders with higher complexity. As of September 2024, our orderbook stood at Rs 2,097, with an inflow of Rs 232 crore during the quarter. I am delighted to share that our standalone order inflows for H1 have already surpassed the Rs 530 crore, gradually moving towards our annual order win target. I would also like to highlight that this quarter there were multiple developments on a strategic front; we signed an MOU with Premier Explosives Limited to develop and sell multiple products jointly. Additionally, we also entered into a joint venture with Manjeera Digital Systems to establish a new entity focused on the manufacturing of NavIC chips and GNSS products using Navic chips. Such strategic developments, along with a strong push toward Make in India by the government, will help us develop a strong orderbook, explore new opportunities, and strengthen our overall capabilities. This gives us confidence for a robust domestic demand scenario going forward. Result PDF
Defence company Astra Microwave Products announced Q1FY25 results: Standalone: Revenue stood at Rs 154 crore for Q1FY25 as against Rs 133 crore for Q1FY24 Gross margins improved to 41.8% for Q1FY25 as against 27.5% in Q1FY24 EBIDTA margins was 15.1% for Q1FY25 as against 3.5% in Q1FY24 PAT was at Rs 5 crore for Q1FY25 as against loss of Rs 4 crore in Q1FY24 Geographical spread of total revenue for the quarter stands as follows: India – 79% and Exports – 21% Consolidated: Revenue stood at Rs 155 crore for Q1FY25 as against Rs 134 crore for Q1FY24 Gross margins improved to 43.8% for Q1FY25 as against 28.2% in Q1FY24 EBIDTA margins was 15.5% for Q1FY25 as against 2.3% in Q1FY24 PAT was at Rs 7 crore for Q1FY25 as against loss of Rs 7 crore in Q1FY24 Commenting on the performance S G Reddy, Managing Director, Astra Microwave Products said “During Q1FY25, we reported a satisfactory performance given the seasonality pattern which is typically observed in our business. On a YoY basis, we saw a 15.9% improvement in standalone revenue to Rs 154 Cr. This positive trajectory is further underscored by a significant enhancement in Gross Profit margins, attributable to a favorable geographic mix, which has also been reflected in our operational performance. Our momentum in securing new orders remains robust, with an impressive inflow of Rs 302 crore during the quarter. I am delighted to share that our standalone order book has surpassed the Rs2,000 crore milestone, standing at Rs 2,099 crore as of June 2024. Given the strong push toward Make in India, we remain optimistic about the domestic market's demand outlook. To remain at the cutting edge of innovation, we have expanded our work force including R&D; team during the quarter. During FY25, we are confident to achieve a topline in the range of Rs 1,000 to and Rs 1,100 crore with a PBT margin to the tune of 16-18%." Result PDF