Smallcap stock jumps after its JV bags orders worth ₹275 Cr from the Indian Air Force

Synopsis:- Shares moved up after a joint venture secured a ₹275.27 crore defence order from the Indian Air Force, to be executed within 12 months. A strong ₹1,916 crore order book, close to 70% defence exposure, and rising export contribution of 14.2% support medium-term visibility despite near-term softness.

The shares of the defence component manufacturer gained up to 2.4 percent in today’s trading session after the company’s Joint Venture Company bagged Rs. 275.27 crores worth of order from the Indian Air Force.

With a market capitalisation of Rs 9,532.48 crore, the shares of Astra Microwave Products Ltd were trading at Rs 1,003 per share, decreasing around 0.03 percent as compared to the previous closing price of Rs 1,004.35 apiece.

Significant order

According to the exchange filing, Astra Microwave Products Ltd’s joint venture company, Astra Rafael Comsys Private Limited, secured a significant order worth Rs. 275.27 crores from the Indian Air Force for the Integration of Software Defined Radio (SDR) on MiG-29 aircraft, Installation of Network Centric Application (NCO) on MiG-29 aircraft and Procurement of 24 SDRs for LCA Mk-1A aircraft. The order should be executed within 12 months.

Financial & Other Highlights

The company reported a subdued Q2FY26 performance, with revenue declining 6.5% year-on-year to Rs 215 crore, reflecting softer demand or execution delays. Profitability also weakened, as net profit slipped 4% to Rs 24 crore, indicating margin pressure and limited cost absorption amid lower business activity.

Astra Microwave Products Ltd’s revenue mix remains heavily defence-led, with defence contributing 77.4% in Q2FY26, though lower than recent quarters. Exports improved to 14.2%, while meteorological revenues rose to 5.8%, indicating gradual diversification beyond defence. Space remains a smaller but steady contributor, supporting a balanced long-term growth profile.

Astra Microwave Products Ltd has recently entered into a strategic collaboration with Bharat Electronics Limited to jointly design and manufacture advanced defence and aerospace electronics. The partnership focuses on critical areas like electronic warfare, radar systems, and satellites, supporting indigenous capability building, with no equity, control rights, or related-party involvement.

Astra Microwave Products Ltd reported a robust standalone order book of about  Rs 1,916 crore, largely driven by defence and public-sector orders forming nearly 70% of the mix. During the quarter, fresh orders of  Rs 238 crore were added, while  Rs 213 crore were executed, reflecting healthy inflows and sustained execution momentum across defence, space, and allied segments.

Astra Microwave Products Ltd is a leading Indian defence electronics manufacturer specialising in RF and microwave systems. The company designs and supplies critical components and subsystems for radar, electronic warfare, space, and aerospace applications, playing a key role in India’s indigenous defence and space technology ecosystem.

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