Astra Microwave Products Ltd, a provider of microwave wireless technologies for use in defence, space and telecommunications, on Thursday (August 24) said it has bagged new orders worth Rs 158 crore from DRDO, ISRO, and defence public sector undertakings (DPSUs).

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"This is to inform you that the company has bagged orders worth Rs 158 crore for supply of Satellite sub-systems, Airborne Radar and sub-systems of Radar and EW projects, from DRDO, ISRO and DPSUs," according to a stock exchange filing.

For the first quarter of FY24, the company recorded a revenue of Rs 132.9 crore against Rs 161.2 crore for Q1 of FY23. "The geographical spread of total revenue for the quarter stands as follows — India 40 percent and exports 60 percent which was completely the other way around in FY23, i.e., India 60 percent and exports 40 percent," the company stated in a press release.

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The gross margins were down to 27.5 percent for Q1 of FY24 against 35.1 percent in Q1 of FY23 last year due to the decline in gross margins, which is mainly due to higher contribution from the export business.

The EBIDTA was Rs 4.6 crore for Q1 of FY24 compared to the EBIDTA of 24.9 in Q1 of FY23. EBITDA is earnings before interest, tax, depreciation, and amortisation.

Astra Microwave Products designs and manufactures high-value-added RF and microwave super components and sub-systems that find application in defence, space, and civil communication systems.

Shares of Astra Microwave Products Ltd ended at Rs 367.15, down by Rs 0.35, or 0.095 percent on the BSE.

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(Edited by : Shoma Bhattacharjee)