Defence stock with ₹2,000 Cr order book guidance for FY26 to add to your watchlist

India’s Aerospace & Defense sector is witnessing accelerated growth, with defense production hitting  Rs 1.27 lakh crore in FY24 and exports exceeding  Rs 21,000 crore. A major shift toward self-reliance is evident as 92% of new contracts went to domestic firms. Meanwhile, the aviation market is projected to grow from \$14.47 billion in 2024 to $40.81 billion by 2033.

With a market capitalization of Rs 9,441.33 crore, the shares of Astra Microwave Products Ltd closed at Rs 994.40 per share, decreased around 2.84 percent as compared to the previous closing price of Rs 1,023.50 apiece.

FY26 Guidance

Astra Microwave holds a strong order book of  Rs 1,952 crore as of March 2025 and anticipates  Rs 1,800–2,000 crore in fresh QRSAM orders. With involvement in the Virupaksha radar program and Su-30 fighter upgrades, the company is poised for growth. Radar upgrades alone could add  Rs 300–400 crore annually, supported by Atmanirbhar Bharat and DRDO initiatives.

Further, the company targets FY26 revenue of  Rs 1,200–1,300 crore, backed by a robust order pipeline. Director Atim Kabra expects order intake between  Rs 1,300–1,400 crore during the year, reinforcing the company’s growth momentum. This outlook highlights Astra’s strategic focus on scaling operations and capitalizing on rising defence sector demand to drive sustained business expansion.

Operational Highlights

Astra Microwave Products demonstrated a strong dependence on the Defence segment, contributing 80.6% to FY25 revenue and rising to 84% in Q4FY25. Exports formed 10.5%, while Space, Meteorological, and Others accounted for the rest, highlighting Defence as the company’s core driver amid modest diversification into other segments.

Astra Microwave Products recorded  Rs 420.7 crore in Q4 FY25 order intake, with the Defence segment contributing  Rs 351.8 crore. Other segments included Meteorological ( Rs 44 crore), Space ( Rs 20.9 crore), and Exports ( Rs 4 crore). The company executed  Rs 429 crore worth of orders, highlighting robust operational performance and efficient project execution.

Astra Microwave Products boasts a strong clientele including the Indian Ministry of Defence, DRDO, ISRO, HAL, BEL, and global defence majors like Rafael, Thales, and Raytheon. It holds major stakes in key defence programs such as AEW&CS, AESA Radar, ASPJ systems, and long-range radar modules, strengthening its strategic positioning.

Astra Microwave Products is engaged in the business of designing, developing, and manufacturing sub-systems for Radio Frequency and microwave systems used in defense, space, meteorology, and telecommunication.

Written by Abhishek Singh 

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