Astra Microwave share price today

Astra Microwave Products Ltd's share price was ₹1,580.10 at the close on 4 November 2026. It has been rising for 28 weeks. That is 10.2% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹879 and ₹1,862, and at that close it sat 71% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Astra Microwave Products Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 8 weeks running.

Over the last 11 years the share price moved +1,365% while the NIFTY 500 moved +249%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 11 September 2026. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: indian funds and insurers (DIIs) raised their stake for 5 quarters in a row, revenue fell in the June 2026 quarter and lowest operating margin in 8 quarters.

1. Indian funds and insurers (DIIs) raised their stake for 5 quarters in a row

   From 14.4% to 16.5% of the company by the September 2026 quarter.

2. Revenue fell in the June 2026 quarter

   Revenue was ₹177 crore, -11.5% on a year earlier (₹200 crore), after 2 quarters of growth.

   Why: Revenue fell because customer approvals and final technical issues held up work in the quarter.

   Next results: check whether customer approvals and final technical closures come through, since management expects them to clear in the coming quarter.

   From the earnings call on 11 Aug 2026.

3. Lowest operating margin in 8 quarters

   Operating margin was 19% in the June 2026 quarter, against 20% a year earlier.

   Why: Profit margin fell because customer approvals and final technical issues delayed work, and management did not give any other cost or pricing reason.

   Next results: check whether those approvals and technical issues clear, since management expects that to help execution.

   From the earnings call on 11 Aug 2026.

For April to June 2026 (the quarter ended 30 June 2026), Astra Microwave reported revenue of ₹177 crore, down 11.5% from ₹200 crore a year earlier, and a profit of ₹12.0 crore, down 25.0% from ₹16.0 crore.

Astra Microwave results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Astra Microwave's management discussed these results on a call held on 11 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Astra Microwave closed at ₹1,580.10 on 4 November 2026, up 51.6% from ₹1,042.50 a year earlier (7 November 2025) and up 511.0% over five years. Its highest weekly close since March 2016 was ₹1,861.60 on 31 July 2026.

Astra Microwave share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

564 weekly closes from 4 March 2016 to 4 November 2026.

4 Nov 2026: Astra Microwave closed at ₹1,580.10, up 4.3% on the week and down 2.7% on the month. 11 Sep 2026: ex-date for a dividend of ₹2.40 a share.

Earlier

• 11 Aug 2026: Astra Microwave held its results call for April to June 2026. Management guided: FY27 revenue ₹1,350 crore plus or minus ₹25 crore at 15-20% growth; FY28 revenue growth 15-18%; margins similar to last year with positive increase.
• Results for April to June 2026: Revenue down 11.5% and profit down 25.0% on a year earlier.
• Our read, 31 May 2026: FY26 closed at revenue 1,163 Cr, profit 193 Cr, operating margin 29%, Q4 alone delivered 488 Cr revenue at 33% operating margin, the highest-margin quarter in company history. ,Consolidated order book 2,600 Cr (standalone 2,141 Cr) anchored by five to six major programs: QRSAM, Uttam AESA, Su-30 Virupaksha/Angad, electronic mines, core BEL production.

Our read of the business

FY26 closed at revenue 1,163 Cr, profit 193 Cr, operating margin 29%, Q4 alone delivered 488 Cr revenue at 33% operating margin, the highest-margin quarter in company history. ,Consolidated order book 2,600 Cr (standalone 2,141 Cr) anchored by five to six major programs: QRSAM, Uttam AESA, Su-30 Virupaksha/Angad, electronic mines, core BEL production.

January to March 2026: Highest-margin quarter in company history at 33% operating margin; 488 Cr revenue, 106 Cr profit.

Our read after the January to March 2026 results, written 31 May 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

Astra Microwave paid ₹2.40 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 0.15% at the ₹1,580.10 close on 4 November 2026. The last was a dividend of ₹2.40 a share, ex-date 11 September 2026.

Astra Microwave dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here.

Yes. Astra Microwave Products Ltd paid out 12% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 11 August 2026, Astra Microwave's management guided: FY27 revenue ₹1,350 crore plus or minus ₹25 crore at 15-20% growth; FY28 revenue growth 15-18%; margins similar to last year with positive increase.

“We are very comfortable with our order book. Therefore, the obvious focus shifts to execution, and that is what ought to be keeping us awake at night.”Atim Kabra, on the call for April to June 2026

What management guided

• FY27 order bookings ₹1,600 crore excluding Uttam.
• Uttam: first phase of 12 units by September 2027, then 25 or more annually; possible completion by FY31 versus before FY32.
• ARC FY27 sales ₹360 crore.
• Next 3-4 years: ₹8,000-10,000 crore order intake, including QRSAM ₹700-800 crore, ARC ₹500-750 crore and Su-30 ₹3,000 crore; execution over 5-6 years and scale framed at 6-7x prior turnover.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 11 August 2026.

What is changing at Astra Microwave, from the latest results and calls: order book scale-up (qrsam + uttam aesa + bel production), ip-mix shift (build-to-print exit → ip co-development at 40-45% gross margin) and defense electronics tam expansion (indigenization acceleration).

• Order Book Scale-Up (QRSAM + Uttam AESA + BEL Production). Consolidated order book 2,600 Cr (2.2x last 12 months revenue); five to six major programs with ₹1,600+ Cr FY27 order visibility; January to March 2026 alone added 530 Cr in fresh orders. ⚠ estimate
• IP-Mix Shift (build-to-print exit → IP co-development at 40-45% gross margin). Export segment gross margins transformed from single-digit (build-to-print) to 40-45% (IP co-development via ARC JV), primary driver of operating margin expansion from 21% to 33% over 3 years. ⚠ estimate
• Defense Electronics TAM Expansion (indigenization acceleration). 75% of India's defense capital expenditure budget now to domestic companies; defense exports exceeded 38,000 Cr in FY26, structural indigenization tailwind for defense electronics specialists. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the January to March 2026 results, written 31 May 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

January to March 2026 billing 490 Cr, consolidated order book 2,600 Cr, standalone 2,141 Cr, operating cash flow improved to 370 Cr vs -99 Cr prior year.

• ARC FY26 order bookings ₹546 crore and sales ₹360 crore surpassed all guidance; FY27 goal minimum 50% growth, ₹600 crore sales, ₹20+ Cr profit share at 18-20% operating profit. ✓ fact

Our read after the January to March 2026 results, written 31 May 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

FY27 guide already walked from 1,400-1,500 Cr (Nov 2025) to 1,300-1,400 Cr (May 2026); every forward number in four consecutive years reduced from initial guide.

The main risks

• Persistent guidance walk-down, FY27 already at 7% discount to initial guide: FY27 guide already walked from 1,400-1,500 Cr (Nov 2025) to 1,300-1,400 Cr (May 2026); every forward number in four consecutive years reduced from initial guide. ✓ fact
• QRSAM and Uttam AESA order timing uncertainty: QRSAM vendor orders expected 3-4 months post-BEL June FY27 contract; Uttam HAL order expected Q2-October to December 2026, both unconfirmed milestones on which the FY27 revenue guide depends. ✓ fact
• Su-30 upgrade program pushed to FY31-32 production orders: Virupaksha radar qualification FY28; user qualification 1+ year; production orders 2-3 years post-qualification = FY31-32. The FY29 headline catalyst is now the FY32 catalyst. ✓ fact
• Promoter ownership at 6.54%, governance concentration risk: Promoter stake flat at 6.54% across all observed quarters, below thresholds typical for founder-led defense technology companies managing decade-long program ramps. ✓ fact

Our read after the January to March 2026 results, written 31 May 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

When Astra Microwave reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Customer approvals and final technical closures to normalize into the next quarter's execution, testing the stated explanation for moderate Q1 performance.

Astra Microwave is on 2 of our India lists: Small & mid cap stocks and Defence stocks.

Astra Microwave Products Ltd earned ₹12.0 Cr of net profit in the Jun 2026 quarter, −25.0% on the same quarter a year earlier. Full-year FY26 profit was ₹193 Cr. Over 10 years profit has grown 13.2% a year on average. That is 6.8% of the quarter's revenue. The same quarter a year earlier earned ₹16.0 Cr.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

For the full year, FY26 profit was ₹193 Cr (+25.3% on the year before).

Why profit moved: revenue changed −11.5% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +4.1% and revenue +0.5%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY26-Q4. revenue ₹488 Cr and profit ₹106 Cr as reported.

FY27-Q1. revenue ₹177 Cr and profit ₹12 Cr as reported.

Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters.

Astra Microwave Products Ltd reported ₹177 Cr of revenue in the Jun 2026 quarter, −11.5% on the same quarter a year earlier. Over 10 years it has grown 11.1% a year on average. The last full year, FY26, came in at ₹1,163 Cr. The last four reported quarters add to ₹1,140 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. The QRSAM vendor order is expected within 3-4 months of the BEL contract close (expected June FY27). Uttam AESA HAL order expected Q2-Q3 FY27. Together these two programs carry 45% of projected FY27 segment revenue. Q4 FY26 order intake of 530 Cr including SGR programs and BEL subsystems demonstrates year-round order flow rather than pure Q4 concentration. Standalone order book 2,141 Cr provides approximately 18 months of revenue visibility.

FY26 revenue was ₹1,163 Cr, +10.7% on the year before.

Recent pace: the last four quarters grew +0.5% on average, against 11.1% a year over the longer run, so this year is growing slower than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +3.9%, against +10.7% a year over the last 8 quarters (rolling over); profit over the last 12 months grew +17.4%, against +18.8% a year (stabilising).

FY26-Q4. revenue ₹488 Cr and profit ₹106 Cr as reported.

FY27-Q1. revenue ₹177 Cr and profit ₹12 Cr as reported.

Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters.

Astra Microwave Products Ltd's operating margin was 19.0% in the Jun 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between 10.0% and 31.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. The ARC Rafael Comsys JV carries 40% gross margins on RF co-development for SDRs versus the prior conversion-cost export model. FY26 ARC achieved 546 Cr order bookings and 360 Cr sales. FY27 goal: 600 Cr sales at 18-20% EBITDA, Rs 20+ Cr profit share. The Astra-branded IP product launches before Diwali FY27 represent the next phase: direct IP ownership without joint-venture revenue sharing.

Why the margin moved: operating margin changed −1.8 percentage points on the year while gross margin changed +0.6 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

FY26-Q4. revenue ₹488 Cr and profit ₹106 Cr as reported.

FY27-Q1. revenue ₹177 Cr and profit ₹12 Cr as reported.

Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters.

Over the last 3 years, 25% of Astra Microwave Products Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹387 Cr of operating cash against ₹193 Cr of profit. After ₹88.0 Cr of spending on assets, ₹299 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 25% of profit came in as cash: the cash cycle got 146 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page.

What to look at next: less of the profit turns into cash than it should, and the cash cycle is 146 days longer. The next section looks at where the cash is stuck.

Astra Microwave Products Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 537 days in FY26, up from 391 days in FY21. It spent ₹211 Cr on assets over the last 3 years. Customers take 216 days to pay, and stock sits for 394 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹1,163 Cr, each day of that cycle ties up about ₹3.2 Cr, so roughly ₹1,711 Cr is tied up in the business at any time.

FY26: customers took 216 days to pay and stock sat for 394 days, about 13.0 months of sales sitting as stock, for a full cycle of 537 days, longer than FY21's 391.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 394 days. Customers pay about 216 days after that. Suppliers are paid at 73 days. Together that makes the 537-day cycle.

Spending on assets: ₹211 Cr over the last 3 years, against ₹104 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹9.0 Cr (FY26): assets paid for that are not earning yet.

In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit.

Astra Microwave Products Ltd's P/E is 79.4×, near the high end of its own history: higher than 88% of past readings. Its usual P/E (the middle reading) is 41.3×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.