Astra Microwave Products Shares Rise Nearly 2% As Profit More Than Doubles

Mumbai, November 12: Shares of Astra Microwave Products rose nearly 2% after the firm reported a strong set of September-quarter results on Thursday, November 12, with consolidated net profit more than doubling year-on-year, supported by higher revenue and a sharp improvement in operating profitability. The defence electronics manufacturer reported a 112% increase in net profit to Rs 51 crore for the second quarter of FY27, compared with Rs 24 crore in the corresponding period last year. Revenue from operations rose 22% to Rs 262.8 crore.

Astra Microwave Reports No Deviation in Preferential Issue Fund Utilisation

Astra Microwave Products raised funds through a preferential issue dated June 30, 2025, with a total issue size of ₹173.99 crore. Under the arrangement, the company received ₹43.49 crore as an upfront contribution, representing 25% of the issue size. The remaining ₹130.50 crore relates to the conversion component of the warrants. According to the latest disclosure, Astra Microwave fully utilised the ₹43.49 crore received during the quarter ended June 30, 2025. Of the total amount, ₹40 crore was allocated towards working capital requirements, while ₹3.49 crore was used for general corporate purposes.

The company provided the following details of fund utilisation:

The filing confirmed that there was no deviation or variation in the utilisation of the funds against the stated objectives of the issue. Astra Microwave also clarified that no additional issue proceeds were raised during the quarter ended September 30, 2026, as the warrant holders had not exercised their conversion options during the period. The company’s disclosure identifies CRISIL Ratings Limited as the monitoring agency for the preferential issue. No adverse comments or observations regarding fund utilisation were reported in the statement. The confirmation provides clarity on how the company deployed the funds already received, although the balance amount associated with the warrants remains dependent on their conversion.

Stock Market Snapshot

Astra Microwave Products share price traded higher during the afternoon session on November 12, 2026. Based on the supplied intraday chart, the stock was trading at approximately ₹1,760 around 1:35 PM IST, compared with a previous closing reference level near ₹1,727. This indicates an approximate increase of ₹33, or 1.91%. The stock began the session near ₹1,742 and briefly climbed above ₹1,760 during early trading. After fluctuating between ₹1,735 and ₹1,760 through the morning session, the share price gradually recovered towards ₹1,770 around 11:00 AM IST. Trading remained relatively stable during the late morning, with the stock largely moving between ₹1,755 and ₹1,765. A sharp upward movement emerged around 12:30 PM IST, when the share price touched approximately ₹1,825, the highest level visible on the chart. However, the gains narrowed during the subsequent trading period, with the stock declining towards ₹1,780 before moving closer to ₹1,760. By approximately 1:35 PM IST, the share price remained above the previous closing reference level.

About Astra Microwave Products

Astra Microwave Products Limited is an Indian technology company engaged in designing, developing and manufacturing radio frequency, microwave and related electronic systems. The company provides products and solutions for defence, aerospace, space, meteorology and telecommunications applications. Its product portfolio includes radar-related components, microwave subsystems, electronic warfare systems and other specialised electronic technologies. Astra Microwave has manufacturing and research facilities in India and serves customers across domestic and international markets. The company is listed on the BSE under code 532493 and on the National Stock Exchange under the symbol ASTRAMICRO.

Source: 

• https://www.nseindia.com/get-quote/equity/ASTRAMICRO/Astra-Microwave-Products-Limited