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Defence and telecom equipment provider Astra Microwave Products Ltd on Friday (October 31) announced that its joint venture company, Astra Rafael Comsys Private Ltd, has secured an order worth ₹285.56 crore, including taxes, from the Ministry of Defence.
The contract involves the procurement of communication systems with accessories for the Special Forces of the Indian Air Force (IAF). The order, awarded by a domestic entity, is scheduled to be executed within 11 months.
The company confirmed that neither promoters nor promoter group companies have any interest in the entity awarding the contract, and the transaction does not fall under related party dealings. A significant portion of the business from this order will be undertaken by Astra Rafael Comsys Private Limited, the joint venture entity.
Also Read: Astra Microwave Q1 Results: Stock ends 5% higher on healthy growth, order pipeline
In May this year, Atim Kabra, Director of Business Development and Strategy at Astra Microwave Products, expects the order intake for the current year to be between ₹1,300 and ₹1,400 crore.
Kabra added, “The business prospects are looking pretty good. Our consolidated order book is right now ₹2,303 crore, and a standalone order book of ₹1,951 crore. We are expecting that our ARC business alone will have an order backlog of about 100 million plus by the end of next year. So all these things translate into quite a significant revenue potential."
Astra Microwave Products is primarily a defence-focused company, and it maintains a well-diversified portfolio within the sector. Around 45% of its revenue comes from radar systems, which form the company’s core.
Also Read: Astra Microwave sees significant opportunities in the satellites segment
Other significant contributors include electronic warfare, missile electronics, and telemetry. Astra has played a key role in supplying critical subsystems for the Akash missile and has made substantial contributions to the Netra airborne surveillance platform and multiple radar systems.
Shares of Astra Microwave Products Ltd ended at ₹1,042.90, down by ₹13.15, or 1.25%, on the BSE.
The contract involves the procurement of communication systems with accessories for the Special Forces of the Indian Air Force (IAF). The order, awarded by a domestic entity, is scheduled to be executed within 11 months.
The company confirmed that neither promoters nor promoter group companies have any interest in the entity awarding the contract, and the transaction does not fall under related party dealings. A significant portion of the business from this order will be undertaken by Astra Rafael Comsys Private Limited, the joint venture entity.
Also Read: Astra Microwave Q1 Results: Stock ends 5% higher on healthy growth, order pipeline
In May this year, Atim Kabra, Director of Business Development and Strategy at Astra Microwave Products, expects the order intake for the current year to be between ₹1,300 and ₹1,400 crore.
Kabra added, “The business prospects are looking pretty good. Our consolidated order book is right now ₹2,303 crore, and a standalone order book of ₹1,951 crore. We are expecting that our ARC business alone will have an order backlog of about 100 million plus by the end of next year. So all these things translate into quite a significant revenue potential."
Astra Microwave Products is primarily a defence-focused company, and it maintains a well-diversified portfolio within the sector. Around 45% of its revenue comes from radar systems, which form the company’s core.
Also Read: Astra Microwave sees significant opportunities in the satellites segment
Other significant contributors include electronic warfare, missile electronics, and telemetry. Astra has played a key role in supplying critical subsystems for the Akash missile and has made substantial contributions to the Netra airborne surveillance platform and multiple radar systems.
Shares of Astra Microwave Products Ltd ended at ₹1,042.90, down by ₹13.15, or 1.25%, on the BSE.
