Astra Microwave Products announced Q4FY22 results: FY22: Revenue stood at Rs 735 crore for FY22 as against Rs 589 crore for FY21; growth of 25% YoY EBITDA stood at Rs 87 crore for FY22 as against Rs 64 crore for FY21. EBITDA margin for FY22 stood at 11.8% vs 10.9% in FY21 The company reported Profit after Tax of Rs 40 crores in FY22 as against profit of Rs 24 crore in FY21 The Board has recommended a dividend of Rs 1.40 per share on the face value of Rs 2.00 per equity share for FY22 Geographical Spread for FY22 as % of total revenue stands as follows: India – 53%; Exports – 47% Q4FY22: Revenue stood at Rs 239 crore for Q4FY22 as against Rs 238 crore for Q4FY21 EBITDA stood at Rs 29 crore for Q4FY22 as against Rs 45 crore for Q4FY21. EBITDA margin for Q4FY22 stood at 12.1%. The company reported Profit after Tax of Rs 16 crores in Q4FY22 as against Rs 25 crore in Q4FY21 Orderbook Update: Order book of Rs 1,551 crore as on March 31, 2022, which is executable in the next 12 to 30 months period. Orders booked during the year till 31st March 2022 are worth Rs 760 crore. Commenting on the performance Mr. S G Reddy, Managing Director, Astra Microwave Products Limited said, “With the Government’s thrust on indigenizing the defense industry and fast paced growth on the back of various government initiatives like IDDM, MAKE-II, we see a lot of opportunities coming MoD, especially in radar and electronic warfare systems and the forthcoming year promises to be an exciting one. With the Department of Space budgets increasing at a CAGR of 8%-9% and the Indian Space equipment market growing at a similar CAGR, the company is well positioned to capitalize on this growth momentum. In FY22 on a standalone basis, the company reported Rs. 735 crores of sales, marking growth of 25% on YoY basis; EBITDA of Rs. 87 crores with margin of 11.8%. During the year, we received orders worth Rs. 760 Cr and executed orders worth Rs. 771 crores. Our order book as on 31st March 2022 stood at Rs. 1,551 crores which is executable in the next 12 to 30 months period. Astra has been on the working on the diversification front and exploring areas in the anti-drone, EW, satellites, SDRs and electro-optics through JVs with the conviction that they’ll add significantly to the orderbook and incrementally focusing more on System integration and aggressively bidding for the complete radar system – for both DRDO and for future MoD requirements. With this focused approach we shall keep contributing towards the growth of Indian Defense System and strengthen our portfolio, thereby utilizing our unique capabilities and establishing our position as a Systems provider.” Result PDF
Highlights: Q2 FY22 (Standalone): Revenue stood at Rs. 176.82 crores for Q2 FY22 as against Rs. 104.69 crores for Q2 FY21; growth of 69% YoY. Favorable product mix supported the improvement in Revenue growth. EBITDA stood at Rs. 10.64 crores for Q2 FY22 as against Rs. 3.15 crores for Q2 FY21; growth of 238% YoY. EBITDA margin for Q2 FY22 stood at 6.0%. The sales mix in favor of domestic sales improved profitability for the period. The company reported Profit after Tax of Rs. 2.93 crores in Q2 FY22 as against loss of Rs. 6.12 crores in Q2 FY21. H1 FY22 (Standalone): Revenue stood at Rs. 297.02 crores for H1 FY22 as against Rs. 202.06 crores for H1 FY21; growth of 47% YoY. EBITDA stood at Rs. 31.70 crores for H1 FY22 as against Rs. 9.46 crores for H1 FY21. EBITDA margin for H1 FY22 stood at 10.7% vs 4.7% in H1 FY21. The company reported Profit after Tax of Rs. 12.59 crores in H1 FY22 as against loss of Rs. 6.96 crores in H1 FY21. Commenting on the performance Mr. S G Reddy, Managing Director, Astra Microwave Products Limited said, "Aided by external environment and internal capability, seeing good visibility on the order pipeline and new initiatives which gives us the confidence to say that we are at the cusp of multiyear growth trajectory. In the domestic market, we are witnessing good momentum and an improvement in margins is expected in the coming two quarters. In Q2FY22 on standalone basis, the company reported Rs. 176.82 crores of sales, marking growth of 69% on YoY basis. We registered EBITDA of Rs.10.64 crores with margin of 6.0%. Our order book as on 30th September, 2021 stands at Rs. 1,749.12 crores which is executable in the next 12 to 30 months period. Self-reliance in defence has been the cornerstone of India's defence procrument policy. Atmanirbhar Bharat Abhiyan has created New Horizons of Growth for companies like Astra Microwave. A large number of state-of the-art weapon systems, platforms and equipment have been designed and developed by DRDO to meet the requirement of the armed forces through a strong indigenous technology base and we are proud to say that Astra is part of some these projects. We are excited to showcase Indigenous content into the global defence industry and evolving our business with diversified product mix and market. Astra is now targeting to move up value chain via partnerships & Make in India policy of the Government of India." Result PDF