Shares of Astra Microwave Products Ltd. hit their fresh 52-week high of ₹1,379.7 on Tuesday, May 26, following the release of strong fourth quarter earnings. The stock was trading 10.14% higher at ₹1,360.9 after the results announcement, with the stock touching its intraday high at ₹1,379.7. The stock has demonstrated impressive momentum with a 19% gain in the last one month and a 38% rise so far this year, reflecting strong investor confidence in the company's performance. With a market capitalization of ₹12,917 crore, the stock is currently trading at a P/E ratio of 76.74, indicating strong investor appetite for the company's growth prospects.
The company delivered exceptional fourth quarter performance that significantly exceeded market expectations. On a consolidated basis, the company reported a net profit of ₹100 crore in Q4 FY26, marking a 36% rise compared to ₹73.5 crore in the same quarter last year, while profit also jumped 126.4% from ₹46.81 crore reported in the December 2025 quarter. Revenue from operations stood at ₹488.24 crore, rising nearly 19.6% year-on-year from ₹408 crore and surging 88% sequentially from ₹260 crore in Q3 FY26, mainly due to faster execution of defence orders during the quarter. Total consolidated income for Q4 FY26 stood at ₹495.23 crore, registering an 18.2% increase from ₹418.84 crore reported in the same quarter last year. EBITDA for the quarter rose 36% year-on-year to ₹162.5 crore from ₹119.6 crore, while EBITDA margin improved to 33.3% from 29.3% in Q4 FY25, highlighting stronger operating efficiency and better execution during the quarter.
The company's full-year FY26 performance also impressed investors and analysts. Consolidated revenue from operations crossed ₹1,163 crore, up 11% from ₹1,051 crore in FY25, while total consolidated income for FY26 stood at ₹1,181.29 crore, a 10.5% increase from ₹1,068.71 crore in the prior year. Full-year consolidated net profit came in at ₹192.97 crore, a 25.7% rise from ₹153.51 crore in FY25. On a standalone basis, basic EPS improved to ₹18.73 per share from ₹15.10 per share in FY25, while consolidated basic EPS rose to ₹20.32 from ₹16.17, reflecting the group's growing profitability across its subsidiaries and joint ventures. The company's material costs improved to 50% of sales compared to 54% last year, contributing to margin expansion.
The order book position as of March 31, 2026 remains one of the most compelling aspects of the Astra story. The group and joint ventures together hold an order book of ₹2,609.99 crore including ₹230.68 crore in service orders, providing strong multi-year revenue visibility. Fresh orders booked during FY26 alone stood at ₹1,660.22 crore, indicating that the inflow pipeline remains robust and that Astra continues to win a significant share of India's growing defence electronics spend. This strong order book position provides visibility for sustained growth and demonstrates the company's ability to secure large-scale defence contracts. Over the past 90 days, Astra Microwave has reported securing new orders worth ₹158 crore for electronic sub-systems, further strengthening its order book position.
The company's board of directors has recommended a final dividend of ₹2.40 per equity share for financial year 2026, subject to shareholder approval at the upcoming Annual General Meeting. The dividend represents a 120% payout on the face value of ₹2 per share, while the record date and AGM schedule will be announced later. Along with the strong Q4 FY26 results, the company is also moving ahead with a major restructuring plan aimed at unlocking value in its fast-growing space business. Earlier on February 27, 2026, the Board had given in-principle approval for the demerger of Astra Microwave's Space, Meteorology, and Hydrology businesses into its wholly owned subsidiary, Astra Space Technologies Private Limited. The company plans to separately list this business on Indian stock exchanges after receiving final Board and regulatory approvals.
