📈 Live Market Tracking
AI-Powered NSE Corporate Announcements Analysis
Astra Microwave to Demerge Space & Meteorology Business into New Listed Entity by Q1 FY28
Astra Microwave Products has announced an in-principle approval to demerge its Space, Meteorology, and Hydrology business into a separate listed entity, Astra Space Technologies Private Limited (ASTPL). The restructuring aims to unlock shareholder value by creating two focused platforms: one for Defence/Aerospace and another for Space/Weather technologies. The Space segment has a strong track record with ₹750 crore in executed ISRO orders and a ₹250 crore pipeline, while the Meteorology segment holds a ₹285 crore order book for FY28. Existing shareholders will receive mirror shareholding in the new entity, which is targeted for listing by Q1 FY28.
Key Highlights
Demerger into two listed entities: Astra Microwave (Defence) and Astra Space Technologies (Space/Weather).
Space business has executed ₹750 crore in ISRO orders with ₹250 crore more expected by FY28.
Meteorology segment has a ₹285 crore order book and has previously executed ₹330 crore in contracts.
Listing of the new entity (ASTPL) on BSE and NSE is targeted for completion by Q1 FY28.
Restructuring intended to improve strategic focus, capital allocation, and attract sector-specific talent.
💼 Action for Investors
This is a positive development for long-term value discovery; shareholders should maintain positions to benefit from the upcoming mirror shareholding in the new space-tech entity.
Astra Microwave to Demerge Space & Meteorology Business into Separate Listed Entity by Q1 FY28
Astra Microwave's board has granted in-principle approval to demerge its Space, Meteorology, and Hydrology segments into a new listed entity, Astra Space Technologies (ASTPL). The space division has a strong legacy with ₹750 crore in cumulative orders executed for ISRO and ₹250 crore in pending orders through FY28. The Meteorology segment adds ₹285 crore in future order visibility, creating a specialized space-tech player. Existing shareholders will receive mirror shareholding in the new entity, aimed at unlocking value and improving capital allocation for the capital-intensive space business.
Key Highlights
Demerger will create two independent listed entities: Astra Microwave (Defence/Aerospace) and Astra Space Technologies (Space/Met/Hydrology).
Space business has ₹250 crore in orders to be executed by FY28, building on a ₹750 crore historical execution for ISRO.
Meteorology and Hydrology segment holds a current order book of ₹285 crore to be completed by FY28.
The transaction will follow a mirror shareholding pattern, ensuring existing investors gain direct exposure to both entities.
The company targets completion of the demerger and listing of the new entity by Q1 of FY28.
💼 Action for Investors
Investors should maintain their positions as this demerger is likely to unlock significant value by creating a pure-play space-tech entity. The move allows for better valuation of the high-growth space segment which was previously overshadowed by the larger defense business.
Astra Microwave Approves In-Principle Demerger of Space and Meteorology Business
Astra Microwave Products' Board has granted in-principle approval on February 27, 2026, to demerge its Space, Meteorology, and Hydrology business units into a separate company. The initiative is intended to enhance operational efficiency and allow for tailored growth strategies specific to the space sector. By creating an independent entity, the company aims to unlock significant value for its shareholders. The Board has authorized the appointment of a Registered Valuer to determine the share exchange ratio and finalize the asset-liability split.
Key Highlights
Board meeting held on February 27, 2026, granted in-principle approval for the demerger of specific business units.
Focus segments for the new entity include Space, Meteorology, and Hydrology business undertakings.
Audit Committee to appoint a Registered Valuer to establish the share exchange ratio for existing shareholders.
The restructuring is designed to unlock shareholder value and enable specialized capital allocation for high-growth sectors.
Final decision on the demerger structure and terms is subject to further board review and expert reports.
💼 Action for Investors
Investors should maintain a positive outlook as the demerger of the high-growth space segment typically leads to value unlocking. Monitor future disclosures regarding the share swap ratio and the listing timeline for the new entity.
Astra Microwave to Consider Business Restructuring; Trading Window Closed from Feb 20
Astra Microwave Products Limited has announced a Board Meeting scheduled for February 27, 2026, to consider a restructuring of its business undertakings. In compliance with SEBI (Prohibition of Insider Trading) Regulations, the company has closed its trading window for insiders starting February 20, 2026. The window will remain closed until 48 hours after the board meeting's conclusion. This announcement signals a potential shift in the company's corporate or operational structure, which could impact its long-term strategy.
Key Highlights
Board Meeting scheduled for February 27, 2026, to discuss business restructuring
Trading window for securities closed from February 20, 2026, for all designated persons
Window to reopen 48 hours after the conclusion of the board meeting
Restructuring proposal follows SEBI (Prohibition of Insider Trading) Regulations, 2015
💼 Action for Investors
Investors should await the specific details of the restructuring plan to be released after the February 27 meeting. Monitor the stock for volatility as the market speculates on the nature of the business reorganization.
Astra Microwave Q3 FY26 PAT at ₹39 Cr; Order Book Hits Record ₹2,226 Cr
Astra Microwave reported a strong Q3 FY26 with standalone revenue of ₹258 crores and a record EBITDA margin of 30.9% due to a favorable product mix. The standalone order book reached a significant milestone of ₹2,226 crores as of December 2025, with an additional ₹550-600 crores in contracts currently under price negotiation. Management has reaffirmed its FY26 revenue guidance of ₹1,150 crores and expects to double its turnover within the next 3-4 years, driven by defense modernization and space sector expansion.
Key Highlights
Standalone Q3 EBITDA stood at ₹80 crores with a margin expansion to 30.9% compared to 25% for the 9-month period.
Order book reached ₹2,226 crores, including ₹1,477 crores from Defense PSUs/DRDO and ₹249 crores from the Space sector.
Management targets FY26 order inflows of ₹1,300-1,400 crores and revenue growth of 15% for FY27.
The Astra Rafael Comsys (ARC) joint venture executed $18.19 million in Q3 and maintains an $80 million order backlog.
Signed a strategic MOU with Bharat Electronics (BEL) for joint design and manufacturing of advanced defense systems.
💼 Action for Investors
Investors should focus on the company's transition from a component supplier to a systems integrator and its strong visibility provided by the ₹2,226 crore order book. The management's confidence in doubling turnover by FY28-29 suggests a long-term growth trajectory in the high-margin defense electronics space.
Astra Microwave Q3 Results: EBITDA Margins Rise to 30.9%, Order Book Strong at ₹2,566 Cr
Astra Microwave Products reported a steady Q3FY26 with consolidated revenue at ₹258 crore and a slight PAT growth to ₹39 crore. The company demonstrated significant operational efficiency as consolidated EBITDA margins expanded to 30.9% from 29.1% YoY. A key highlight is the robust consolidated order book of ₹2,566 crore, which provides strong revenue visibility. Management has reaffirmed its FY26 guidance of 10-15% growth in both topline and bottom-line, supported by an expected order inflow of ₹1,300-1,400 crore.
Key Highlights
Consolidated EBITDA grew 7.1% YoY to ₹80 crore with margins expanding to 30.9%.
Total consolidated order book stands at ₹2,566 crore as of December 31, 2025.
Standalone order inflows during Q3 were healthy at ₹476 crore.
9M FY26 consolidated PAT increased by 6.3% YoY to ₹73 crore.
Domestic market remains the primary driver, accounting for 88.5% of Q3 revenue.
💼 Action for Investors
Investors should take confidence in the expanding margins and the massive order book which is nearly 3x the trailing twelve-month revenue. The stock remains a strong play on India's indigenous defense electronics manufacturing theme.
Astra Microwave Appoints Srinivasarao Devathi as CFO; Rahul Rungta Moves to Subsidiary
Astra Microwave Products Limited has announced a transition in its financial leadership effective February 12, 2026. Mr. Rahul Rungta has resigned as the Chief Financial Officer to take on the CFO role at the company's wholly-owned subsidiary, Astra Space Technologies Private Limited. To fill the vacancy, the board has appointed Mr. Srinivasarao Devathi, a Chartered Accountant with over 22 years of experience in finance and accounts. This move appears to be a strategic internal restructuring to strengthen the leadership of its subsidiary while ensuring continuity at the parent level.
Key Highlights
Mr. Srinivasarao Devathi appointed as the new Chief Financial Officer effective February 12, 2026.
Outgoing CFO Mr. Rahul Rungta transitioned to the CFO role at Astra Space Technologies Private Limited, a 100% subsidiary.
New CFO Mr. Devathi is a Chartered Accountant with over 22 years of professional experience in senior finance positions.
The transition was approved by the Board based on recommendations from the Nomination and Remuneration Committee and Audit Committee.
💼 Action for Investors
This is a planned leadership transition with the outgoing CFO remaining within the group, suggesting minimal disruption. Investors should continue to monitor the company's execution under the new financial leadership.
Astra Microwave Q3 FY26: Standalone PAT at ₹39 Cr; Order Book Hits Record ₹2,226 Cr
Astra Microwave reported a steady Q3 FY26 with standalone revenue of ₹258 crore and a PAT of ₹39 crore. The company's standalone order book has reached a robust ₹2,226 crore, providing strong revenue visibility for the coming years. EBITDA margins improved to 30.9% in Q3 FY26 compared to 29.1% in the previous year, driven by a better product mix. Management is targeting a 15-20% revenue growth over the next 3-5 years by focusing on complex system fabrication.
Key Highlights
Standalone order book stands at ₹2,226 crore as of December 31, 2025, with ₹476.4 crore in new orders received during Q3.
Standalone EBITDA margins expanded to 30.9% in Q3 FY26 from 29.1% in Q3 FY25.
9M FY26 consolidated PAT grew by 8.7% YoY to ₹87 crore, while standalone PAT rose 6.3% to ₹73 crore.
Defence segment continues to dominate the revenue mix, accounting for 81.8% of Q3 FY26 revenue.
Company targets 15-20% revenue growth with a focus on high-value complex system fabrication.
💼 Action for Investors
Investors should monitor the execution of the ₹2,226 crore order book, which represents over 2x annual revenue. The margin expansion and strategic shift toward complex systems make it a strong play in the Indian defense electronics sector.
Astra Microwave Q3 PAT at ₹38.87 Cr; Order Book Strong at ₹2,226 Cr
Astra Microwave reported a steady performance for Q3 FY26 with a standalone PAT of ₹38.87 crore, nearly flat compared to ₹38.62 crore YoY. Revenue from operations grew 21% sequentially to ₹258.23 crore, though it remained stable on a yearly basis. The company's order book remains a key strength at ₹2,226.08 crore, providing significant revenue visibility for the coming years. Additionally, the company announced a management transition with Mr. Srinivasarao Devathi appointed as the new CFO.
Key Highlights
Standalone Revenue for Q3 FY26 stood at ₹258.23 crore, showing a 21% growth on a sequential (QoQ) basis.
Net Profit (PAT) for the quarter was ₹38.87 crore, compared to ₹38.62 crore in the corresponding quarter of the previous year.
Total Order Book as of December 31, 2025, remains robust at ₹2,226.08 crore.
New orders worth ₹852.18 crore were booked during the nine-month period ending December 2025.
Mr. Srinivasarao Devathi appointed as CFO effective February 12, 2026, following the transition of Mr. Rahul Rungta to a subsidiary.
💼 Action for Investors
Investors should take confidence in the strong order book which is approximately 2x the annual revenue, signaling long-term growth. While YoY profit growth was flat, the sequential recovery in revenue and margins suggests improving execution capabilities.
Astra Microwave Q3 PAT Flat at ₹38.9 Cr; Order Book Strong at ₹2,226 Cr
Astra Microwave Products reported a largely flat performance for Q3 FY26, with standalone revenue at ₹258.2 crore and PAT at ₹38.9 crore. Despite the stagnant quarterly growth, the company maintains a robust order book of ₹2,226.1 crore, which is approximately 2x its annual revenue, providing significant long-term visibility. The company also announced a management transition, appointing Mr. Srinivasarao Devathi as the new CFO. Furthermore, the firm has received ₹43.5 crore as upfront payment for its ₹174 crore convertible warrant fundraise.
Key Highlights
Standalone Revenue for Q3 FY26 stood at ₹258.24 crore, compared to ₹256.66 crore in the same quarter last year.
Net Profit (PAT) for the quarter was ₹38.88 crore, showing marginal growth over ₹38.62 crore in Q3 FY25.
Total Order Book remains healthy at ₹2,226.08 crore as of December 31, 2025.
New orders worth ₹852.18 crore were secured during the nine-month period ending December 2025.
Management transition: Mr. Srinivasarao Devathi appointed as CFO effective February 12, 2026, replacing Mr. Rahul Rungta.
💼 Action for Investors
The flat year-on-year performance suggests short-term consolidation, but the massive order book remains the primary growth driver. Investors should monitor the execution pace of the current orders and the impact of the new CFO on financial discipline.
Astra Microwave JV Bags ₹275.27 Cr Order from Indian Air Force for MiG-29 and LCA Mk-1A
Astra Microwave's joint venture, Astra Rafael Comsys Private Limited, has secured a domestic order worth ₹275.27 crores from the Indian Air Force. The contract involves the integration of Software Defined Radios (SDR) and Network Centric Applications on MiG-29 aircraft, plus the procurement of 24 SDRs for LCA Mk-1A aircraft. The project is scheduled for completion within a 12-month timeframe, offering strong short-term revenue visibility. Astra Microwave Products Limited will directly benefit as it is slated to receive a portion of the business from this JV order.
Key Highlights
Total order value of ₹275.27 crores (including taxes) awarded by the Indian Air Force.
Scope includes SDR integration and NCO installation for MiG-29 and supply of 24 SDRs for LCA Mk-1A.
The contract has a short execution timeline of 12 months, boosting near-term revenue potential.
Astra Microwave Products Limited will receive a portion of the business directly from the JV entity.
💼 Action for Investors
This order win strengthens the company's order book and validates its technological capabilities in the defense electronics sector. Investors should remain positive on the stock given the 12-month execution cycle and the company's role in the 'Make in India' defense push.
Astra Microwave Signs Strategic MoU with BEL for Defence and Aerospace Electronics
Astra Microwave Products Limited has executed a Memorandum of Understanding (MoU) with Bharat Electronics Limited (BEL), a leading PSU under the Ministry of Defence. The collaboration focuses on the design, development, and manufacturing of advanced electronic modules and subsystems for critical sectors. Key technology domains targeted include Electronic Warfare (EW), radar systems, and satellites. This partnership is expected to strengthen Astra's position in the indigenous defence manufacturing ecosystem and potentially enhance its long-term order pipeline from BEL.
Key Highlights
Strategic MoU signed with Bharat Electronics Limited (BEL) for advanced defence electronics.
Focus areas include Electronic Warfare (EW), radar systems, and satellite technology.
Collaboration covers the entire lifecycle from design and development to manufacturing.
Aims to foster indigenous capabilities in critical technology domains for national defence.
No special rights or changes in capital structure are involved in this agreement.
💼 Action for Investors
Investors should view this as a significant positive development that solidifies Astra's relationship with a major Defence PSU. Monitor for future contract announcements and order book growth stemming from this collaboration.
ASTRAMICRO receives order worth ₹124 crore from Astra Rafael Comsys
Astra Microwave Products Limited has received an order from Astra Rafael Comsys Private Limited (Joint Venture company) for the supply of Modules, Cable Assemblies and Antenna for SDR. The total consideration for this order is ₹124 crores inclusive of all applicable taxes. The order is to be executed within 9-12 months. This order is considered a related party transaction but is done at arm's length.
Key Highlights
Received order worth ₹124 crores from Astra Rafael Comsys Private Limited
Order includes supply of Modules, Cable Assemblies and Antenna for SDR
Order to be executed within 9-12 months
Order received from Joint Venture Company
💼 Action for Investors
The order book is increasing which is a positive sign. Investors should monitor the company's ability to execute the order within the stipulated timeframe and assess its impact on revenue and profitability.
ASTRAMICRO receives order from Indian Meteorological Department for ₹171.38 crores
Astra Microwave Products Limited has secured an order from the Indian Meteorological Department for ₹171.38 crores. The order includes procurement of 6 Klystron-based S-band Polarimetric Doppler Weather Radars (DWRs) along with associated systems. This also includes AWS and Disdrometers with a 3-year warranty followed by 7 years of CAMC. The order is expected to be executed within 18 months.
Key Highlights
Order value: ₹171.38 crores inclusive of all applicable taxes and GST
Procurement of 6 Klystron-based S-band Polarimetric Doppler Weather Radars (DWRs)
Includes 3 years warranty followed by 7 years CAMC
Order to be executed within 18 months
💼 Action for Investors
This order strengthens Astra Microwave's order book and revenue visibility. Investors should monitor the company's progress in executing this order within the stipulated timeframe.