This smallcap defence player secured orders worth ₹275 crore; check details

Shares of Astra Microwave performed better in the early morning hours after the company announced securing an order worth ₹275 crore. However, the shares pared the majority of the gains to close in the red amid a broader market selloff.

Astra Microwave Products’ joint venture company (JV) -- Astra Rafael Comsys has bagged an order worth ₹275.27 crore (including taxes) from the Indian Air Force. The order is for the integration of Software Defined Radio (SDR) on MiG-29 aircraft, installation of Network Centric Application (NCO) on MiG-29 aircraft and procurement of 24 SDRs for LCA Mk-1A aircraft. The order is to be completed within 12 months.

Earlier in December, the company executed a Memorandum of Undertaking (MoU) with Bharat Electronics (BEL), a PSU under the Ministry of Defence, Government of India. The MoU is to collaborate on the design, development and manufacturing of advanced electronic modules, subsystems and systems for defence electronics and aerospace, specifically targeting critical technology domains such as Electronic Warfare (EW), radar systems and satellites.

Additionally, the company secured an order worth ₹124 crore (inclusive of all applicable taxes) from Astra Rafael Comsys (a Joint Venture company). The order is for the supply of Modules, Cable Assemblies and Antenna for SDR. The order is to be executed within 9-12 months.

As of Q2FY26, the company’s order book stood at ₹1916 crore, out of which 70% of the order book came from the defence segment. In the Q2FY26, the company’s consolidated revenue jumped 8% YoY to ₹215 crore, while EBITDA remained unchanged at ₹48 crore with an EBITDA margin of 22.3%. Lastly, the net profit dropped 6% YoY to ₹24 crore.

In 2025, the company’s shares delivered stellar returns of 26%, but still traded 17% lower than the record high levels touched in June 2025.