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Astra Microwave Products

NSEI:ASTRAMICRO
Snowflake Description

Excellent balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ASTRAMICRO
NSEI
₹7B
Market Cap
  1. Home
  2. IN
  3. Tech
Company description

Astra Microwave Products Limited designs, develops, and manufactures sub-systems for RF and microwave systems used in defense, space, meteorology, and telecommunication applications in India. The last earnings update was 13 days ago. More info.


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ASTRAMICRO Share Price and Events
7 Day Returns
1.5%
NSEI:ASTRAMICRO
5.1%
IN Communications
3.5%
IN Market
1 Year Returns
-10.4%
NSEI:ASTRAMICRO
-26.7%
IN Communications
-0.9%
IN Market
ASTRAMICRO Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Astra Microwave Products (ASTRAMICRO) 1.5% -8.7% 11.1% -10.4% -25.7% -9.3%
IN Communications 5.1% -9.2% -12.6% -26.7% 118.4% 197%
IN Market 3.5% -2.6% 7.2% -0.9% 37.9% 44%
1 Year Return vs Industry and Market
  • ASTRAMICRO outperformed the Communications industry which returned -26.7% over the past year.
  • ASTRAMICRO underperformed the Market in India which returned -0.9% over the past year.
Price Volatility
ASTRAMICRO
Industry
5yr Volatility vs Market

ASTRAMICRO Value

 Is Astra Microwave Products undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Astra Microwave Products to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Astra Microwave Products.

NSEI:ASTRAMICRO Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 16.7%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:ASTRAMICRO
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Communications Unlevered Beta Simply Wall St/ S&P Global 1.08
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.082 (1 + (1- 35%) (1.01%))
1.06
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.06
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (1.06 * 8.6%)
16.66%

Discounted Cash Flow Calculation for NSEI:ASTRAMICRO using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Astra Microwave Products is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:ASTRAMICRO DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 16.66%)
2019 -217.00 Analyst x1 -186.01
2020 765.00 Analyst x1 562.08
2021 60.00 Analyst x1 37.79
2022 41.16 Est @ -31.4% 22.22
2023 33.04 Est @ -19.72% 15.29
2024 29.23 Est @ -11.54% 11.60
2025 27.53 Est @ -5.81% 9.36
2026 27.04 Est @ -1.8% 7.88
2027 27.31 Est @ 1% 6.82
2028 28.12 Est @ 2.97% 6.02
Present value of next 10 years cash flows ₹493.06
NSEI:ASTRAMICRO DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹28.12 × (1 + 7.55%) ÷ (16.66% – 7.55%)
₹331.88
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹331.88 ÷ (1 + 16.66%)10
₹71.07
NSEI:ASTRAMICRO Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹493.06 + ₹71.07
₹564.13
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹564.13 / 86.61
₹6.51
NSEI:ASTRAMICRO Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NSEI:ASTRAMICRO represents 0.99463x of BSE:532493
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99463x
Value per Share
(Listing Adjusted, INR)
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 6.51 x 0.99463
₹6.48
Value per share (INR) From above. ₹6.48
Current discount Discount to share price of ₹83.30
= -1 x (₹83.30 - ₹6.48) / ₹6.48
-1185.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Astra Microwave Products is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Astra Microwave Products's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Astra Microwave Products's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:ASTRAMICRO PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in INR ₹1.13
BSE:532493 Share Price ** BSE (2019-05-22) in INR ₹83.75
India Communications Industry PE Ratio Median Figure of 13 Publicly-Listed Communications Companies 12.76x
India Market PE Ratio Median Figure of 2,756 Publicly-Listed Companies 15.41x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Astra Microwave Products.

NSEI:ASTRAMICRO PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:532493 Share Price ÷ EPS (both in INR)

= 83.75 ÷ 1.13

74.12x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Astra Microwave Products is overvalued based on earnings compared to the IN Communications industry average.
  • Astra Microwave Products is overvalued based on earnings compared to the India market.
Price based on expected Growth
Does Astra Microwave Products's expected growth come at a high price?
Raw Data
NSEI:ASTRAMICRO PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 74.12x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
82.2%per year
India Communications Industry PEG Ratio Median Figure of 5 Publicly-Listed Communications Companies 0.82x
India Market PEG Ratio Median Figure of 559 Publicly-Listed Companies 1.29x

*Line of best fit is calculated by linear regression .

NSEI:ASTRAMICRO PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 74.12x ÷ 82.2%

0.9x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Astra Microwave Products is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Astra Microwave Products's assets?
Raw Data
NSEI:ASTRAMICRO PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in INR ₹57.83
BSE:532493 Share Price * BSE (2019-05-22) in INR ₹83.75
India Communications Industry PB Ratio Median Figure of 18 Publicly-Listed Communications Companies 1.41x
India Market PB Ratio Median Figure of 3,637 Publicly-Listed Companies 1.03x
NSEI:ASTRAMICRO PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:532493 Share Price ÷ Book Value per Share (both in INR)

= 83.75 ÷ 57.83

1.45x

* Primary Listing of Astra Microwave Products.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Astra Microwave Products is overvalued based on assets compared to the IN Communications industry average.
X
Value checks
We assess Astra Microwave Products's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Communications industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Communications industry average (and greater than 0)? (1 check)
  5. Astra Microwave Products has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

ASTRAMICRO Future Performance

 How is Astra Microwave Products expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
82.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Astra Microwave Products expected to grow at an attractive rate?
  • Astra Microwave Products's earnings growth is expected to exceed the low risk savings rate of 7.6%.
Growth vs Market Checks
  • Astra Microwave Products's earnings growth is expected to exceed the India market average.
  • Astra Microwave Products's revenue growth is expected to exceed the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:ASTRAMICRO Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:ASTRAMICRO Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 82.2%
NSEI:ASTRAMICRO Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 26.9%
India Communications Industry Earnings Growth Rate Market Cap Weighted Average 17%
India Communications Industry Revenue Growth Rate Market Cap Weighted Average 18.3%
India Market Earnings Growth Rate Market Cap Weighted Average 17.1%
India Market Revenue Growth Rate Market Cap Weighted Average 10.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:ASTRAMICRO Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:ASTRAMICRO Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 5,142 160 832 1
2020-03-31 4,228 846 409 1
NSEI:ASTRAMICRO Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-03-31 2,935 98
2018-03-31 3,628 1,788 611
2017-03-31 3,898 144 576

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Astra Microwave Products's earnings are expected to grow significantly at over 20% yearly.
  • Astra Microwave Products's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:ASTRAMICRO Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Astra Microwave Products Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:ASTRAMICRO Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 9.61 9.61 9.61 1.00
2020-03-31 4.72 4.72 4.72 1.00
NSEI:ASTRAMICRO Past Financials Data
Date (Data in INR Millions) EPS *
2019-03-31 1.13
2018-03-31 7.05
2017-03-31 6.65

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Astra Microwave Products is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Astra Microwave Products's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Astra Microwave Products has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

ASTRAMICRO Past Performance

  How has Astra Microwave Products performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Astra Microwave Products's growth in the last year to its industry (Communications).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Astra Microwave Products's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Astra Microwave Products's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Astra Microwave Products's 1-year earnings growth is negative, it can't be compared to the IN Communications industry average.
Earnings and Revenue History
Astra Microwave Products's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Astra Microwave Products Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:ASTRAMICRO Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 2,934.93 97.62 650.26
2018-03-31 3,627.94 610.90 720.44
2017-03-31 3,897.99 575.76 637.43
2016-03-31 4,207.20 562.62 555.78
2015-03-31 6,358.18 627.58 437.36
2014-03-31 5,324.82 508.36 534.01
2013-12-31 4,574.38 516.05 495.76
2013-09-30 3,239.73 481.78 485.26
2013-06-30 2,471.91 424.27 461.84
2013-03-31 2,278.78 371.86 417.88
2012-12-31 1,955.50 227.48 465.71
2012-09-30 1,945.65 261.15 458.41
2012-06-30 1,945.51 267.22 447.35

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Astra Microwave Products has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Astra Microwave Products used its assets less efficiently than the IN Communications industry average last year based on Return on Assets.
  • It is difficult to establish if Astra Microwave Products improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Astra Microwave Products's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Communications industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Astra Microwave Products has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

ASTRAMICRO Health

 How is Astra Microwave Products's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Astra Microwave Products's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Astra Microwave Products is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Astra Microwave Products's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Astra Microwave Products's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 55.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Astra Microwave Products Company Filings, last reported 1 month ago.

NSEI:ASTRAMICRO Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 4,995.65 72.92 481.40
2018-03-31 5,010.37 953.90 1,545.76
2017-03-31 4,499.48 1,378.00 589.11
2016-03-31 3,993.02 695.66 871.38
2015-03-31 2,918.23 923.09 290.52
2014-03-31 2,411.88 608.03 656.72
2013-12-31 2,146.47 968.34 1,066.05
2013-09-30 2,146.47 968.34 1,066.05
2013-06-30 2,008.82 463.27 1,365.68
2013-03-31 2,008.82 463.27 1,365.68
2012-12-31 1,740.77 393.87 701.31
2012-09-30 1,740.77 393.87 701.31
2012-06-30 1,713.05 593.91 344.55
  • Astra Microwave Products's level of debt (1.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (25.2% vs 1.5% today).
  • Debt is well covered by operating cash flow (2452.4%, greater than 20% of total debt).
  • Unable to confirm if the interest payments on Astra Microwave Products's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Astra Microwave Products's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Astra Microwave Products has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

ASTRAMICRO Dividends

 What is Astra Microwave Products's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.3%
Current annual income from Astra Microwave Products dividends. Estimated to be 1.31% next year.
If you bought ₹2,000 of Astra Microwave Products shares you are expected to receive ₹6 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Astra Microwave Products's pays a lower dividend yield than the bottom 25% of dividend payers in India (0.54%).
  • Astra Microwave Products's dividend is below the markets top 25% of dividend payers in India (2.03%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:ASTRAMICRO Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
India Communications Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 1.5%
India Market Average Dividend Yield Market Cap Weighted Average of 1407 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:ASTRAMICRO Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31 1.20 1.00
2020-03-31 1.00 1.00
NSEI:ASTRAMICRO Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2019-05-09 0.250 0.301
2018-05-28 1.200 1.374
2017-07-31 1.000 0.932
2017-05-02 1.000 0.728
2016-08-01 1.200 1.042
2016-04-29 1.200 0.998
2015-04-30 1.200 1.010
2014-07-31 1.100 0.865
2013-04-29 0.800 1.638
2012-07-30 0.700 1.720
2012-07-04 0.700 1.638
2012-04-26 0.700 1.780
2011-07-29 0.500 1.532
2010-04-30 0.333 0.862

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Astra Microwave Products has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Astra Microwave Products has only been paying a dividend for 9 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of Astra Microwave Products's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (8x coverage).
X
Income/ dividend checks
We assess Astra Microwave Products's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Astra Microwave Products afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Astra Microwave Products has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

ASTRAMICRO Management

 What is the CEO of Astra Microwave Products's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Maram Reddy
COMPENSATION ₹9,242,880
AGE 51
TENURE AS CEO 0.1 years
CEO Bio

Mr. Maram Venkateshwar Reddy, B.E.(Electronics), MBA has been Joint Managing Director of Astra Microwave Products Limited since April 1, 2019 and its Executive Director since April 29, 2013. He served as Director of Marketing and Operations at Astra Microwave Products Ltd until April 1, 2019. Mr. Reddy served as a General Manager of Astra Microwave Products Ltd. He serves as Director of Astra Rafael Comsys Private Limited and Astra Foundation. He is Graduate in Engineering (Electronics) and a Post Graduate in Business Administration, and he has 28 years of experience in handling Marketing and Business operations in the domain of Defense, Space and Telecom segment in India and Overseas Market. As most of his experience has been working for the Indian Private industry meeting the needs of the Strategic Electronics sector in India and abroad, he has a good understanding of the requirements and knows the challenges and opportunities for the private companies in this business segment.

CEO Compensation
  • Maram's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
  • Maram's remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure of the Astra Microwave Products management team in years:

0.1
Average Tenure
  • The average tenure for the Astra Microwave Products management team is less than 2 years, this suggests a new team.
Management Team

Maram Reddy

TITLE
Joint MD & Executive Director
COMPENSATION
₹9M
AGE
51
TENURE
0.1 yrs

S. Reddy

TITLE
MD & Whole Time Director
COMPENSATION
₹9M
AGE
59
TENURE
0.1 yrs

T. Anjaneyulu

TITLE
Company Secretary
COMPENSATION
₹1M

A. Sarma

TITLE
Senior Technical Consultant
TENURE
7.4 yrs
Board of Directors Tenure

Average tenure and age of the Astra Microwave Products board of directors in years:

3.3
Average Tenure
65
Average Age
  • The tenure for the Astra Microwave Products board of directors is about average.
Board of Directors

Avinash Chander

TITLE
Chairman of the Board
COMPENSATION
₹215K
AGE
68
TENURE
0.3 yrs

Maram Reddy

TITLE
Joint MD & Executive Director
COMPENSATION
₹9M
AGE
51
TENURE
6.1 yrs

S. Reddy

TITLE
MD & Whole Time Director
COMPENSATION
₹9M
AGE
59
TENURE
6.1 yrs

V.V.R. Sastry

TITLE
Independent Director
COMPENSATION
₹1M
AGE
69
TENURE
3.3 yrs

Buddharaju Lakshmi Raju

TITLE
Independent Director
COMPENSATION
₹1M
AGE
69
TENURE
3.3 yrs

Sunil Sharma

TITLE
Independent Director
AGE
62
TENURE
0.2 yrs

Krishna Kishore Bhumireddy

TITLE
Director of Astra Micro Electronic Technoogies Limited
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Astra Microwave Products insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
07. Mar 19 Buy Prakash Chitrakar Individual 06. Mar 19 06. Mar 19 13,500 ₹83.60 ₹1,128,590
06. Mar 19 Buy Prakash Chitrakar Individual 05. Mar 19 05. Mar 19 26,200 ₹85.05 ₹2,228,210
25. Jan 19 Sell C Reddy Individual 15. Jan 19 15. Jan 19 -9,128 ₹84.54 ₹-771,648
09. Jan 19 Sell Chennareddy Prameelamma Individual 03. Jan 19 07. Jan 19 -51,000 ₹80.06 ₹-4,083,006
10. Jan 19 Sell Lakshmi Chittepu Individual 19. Dec 18 19. Dec 18 -10,000 ₹79.44 ₹-794,406
10. Jan 19 Sell C Reddy Individual 19. Dec 18 07. Jan 19 -52,095 ₹79.97 ₹-4,166,223
30. Nov 18 Sell Chennareddy Prameelamma Individual 28. Nov 18 28. Nov 18 -100,000 ₹77.53 ₹-7,752,794
11. Oct 18 Buy Ashwini Putchalapalli Individual 05. Sep 18 08. Oct 18 15,600 ₹84.89 ₹1,324,212
X
Management checks
We assess Astra Microwave Products's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Astra Microwave Products has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

ASTRAMICRO News

Simply Wall St News

With A 2.0% Return On Equity, Is Astra Microwave Products Limited (NSE:ASTRAMICRO) A Quality Stock?

Check out our latest analysis for Astra Microwave Products How Do I Calculate Return On Equity? … The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Astra Microwave Products: 2.0% = ₹98m ÷ ₹5.0b (Based on the trailing twelve months to March 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Astra Microwave Products's Debt And Its 2.0% ROE Astra Microwave Products has a debt to equity ratio of just 0.015, which is very low.

Simply Wall St -

Has Astra Microwave Products Limited (NSE:ASTRAMICRO) Been Employing Capital Shrewdly?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Read This Before Buying Astra Microwave Products Limited (NSE:ASTRAMICRO) Shares

So we'll take a look at whether insiders have been buying or selling shares in Astra Microwave Products Limited (NSE:ASTRAMICRO). … The Last 12 Months Of Insider Transactions At Astra Microwave Products. … In the last twelve months, the biggest single sale by an insider was when Director of Technical & Executive Director Chennareddy Prameelamma sold ₹7.8m worth of shares at a price of ₹77.53 per share.

Simply Wall St -

Should You Consider Astra Microwave Products Limited (NSE:ASTRAMICRO)?

As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … that has been able to sustain great financial health over the past

Simply Wall St -

Do Institutions Own Astra Microwave Products Limited (NSE:ASTRAMICRO) Shares?

Every investor in Astra Microwave Products Limited (NSE:ASTRAMICRO) should be aware of the most powerful shareholder groups. … Generally speaking, as a company grows, institutions will increase their ownership. … Astra Microwave Products is not a large company by global standards.

Simply Wall St -

What Is Astra Microwave Products Limited's (NSE:ASTRAMICRO) Share Price Doing?

Astra Microwave Products Limited (NSE:ASTRAMICRO), which is in the communications business, and is based in India,. … A question to answer is whether Astra Microwave Products's current trading price of ₹80.25 reflective of the actual value of the? … Let’s take a look at Astra Microwave Products’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

Does Astra Microwave Products Limited's (NSE:ASTRAMICRO) P/E Ratio Signal A Buying Opportunity?

We'll show how you can use Astra Microwave Products Limited's (NSE:ASTRAMICRO) P/E ratio to inform your assessment of the investment opportunity. … Astra Microwave Products has a P/E ratio of 11.83, based on the last twelve months. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Who Has Been Selling Astra Microwave Products Limited (NSE:ASTRAMICRO) Shares?

So we'll take a look at whether insiders have been buying or selling shares in Astra Microwave Products Limited (NSE:ASTRAMICRO). … The Last 12 Months Of Insider Transactions At Astra Microwave Products. … In total, Astra Microwave Products insiders sold more than they bought over the last year

Simply Wall St -

Should Astra Microwave Products Limited (NSE:ASTRAMICRO) Be Part Of Your Dividend Portfolio?

Historically, Astra Microwave Products Limited (NSE:ASTRAMICRO) has paid dividends to shareholders, and these days it yields 1.5%. … Let's take a look at Astra Microwave Products in more detail. … Check out our latest analysis for Astra Microwave Products

Simply Wall St -

Astra Microwave Products Limited (NSE:ASTRAMICRO): A Look At Return On Capital

and want to begin learning the link between Astra Microwave Products Limited (NSE:ASTRAMICRO)’s return fundamentals and stock market performance. … Purchasing Astra Microwave Products gives you an ownership stake in the company. … To understand Astra Microwave Products’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St -

ASTRAMICRO Company Info

Description

Astra Microwave Products Limited designs, develops, and manufactures sub-systems for RF and microwave systems used in defense, space, meteorology, and telecommunication applications in India. It offers transmit/receive modules for active apertures, low power microwave sub-systems for central acquisition radar, electronic beam formers for 3-D radar, microwave receivers, high power 4-port circulators for radar applications, and limiters; data and video telemetry transmitter systems, video telemetry receivers, telemetry tracking systems, and telemetry transmitters for missile applications; and frequency synthesizers for army applications, VHF/UHF and microwave range front-end LRUs for ground surveillance applications, and VHF/UHF and microwave range biconical, dual-polarized antennas for use in ground surveillance applications. The company also provides ground based products, including coherent frequency generators, L-band modulators, switchable routers, V/UHF T/R modules, and Ka-band indoor/outdoor units; and on–board products, such as C-band T/R modules, SSPA screening, power dividers, X-band phase shifters, power amplifiers, S-band transmitters, RISAT antenna, switch matrix, Ku-band receivers and beacon sources, and C-band MMIC receivers for space applications. In addition, it offers MSS terminals for communication during disasters and automatic weather stations for data collection; GSM and CDMA repeaters, RF and optical mobile jammers, tower mounted amplifiers and boosters, and band pass and CDMA rejection filters for use in telecom applications; and non-linear junction detectors, RFID solutions, tower mounted amplifiers, and industrial security systems for security applications. Further, the company offers automatic weather stations for remote data collection and met towers for meteorology applications. It also exports its products. Astra Microwave Products Limited was incorporated in 1991 and is based in Hyderabad, India.

Details
Name: Astra Microwave Products Limited
ASTRAMICRO
Exchange: NSEI
Founded: 1991
₹7,219,083,111
86,611,675
Website: http://www.astramwp.com
Address: Astra Microwave Products Limited
ASTRA Towers,
Survey No.12 (P),
Hyderabad,
Andhra Pradesh, 500084,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 532493 Equity Shares Mumbai Stock Exchange IN INR 09. Apr 2003
NSEI ASTRAMICRO Equity Shares National Stock Exchange of India IN INR 09. Apr 2003
Number of employees
Current staff
Staff numbers
0
Astra Microwave Products employees.
Industry
Communications Equipment
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/22 12:50
End of day share price update: 2019/05/22 00:00
Last estimates confirmation: 2019/05/15
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.