Multibagger Astra Microwave share price spikes over 14% to record high on firm's stellar performance in Q4

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Astra Microwave Products zoomed 14.25% in today's early morning trade to record a new lifetime high of ₹914 apiece following the company's announcement of its best performance on both a quarterly and full-year basis in terms of revenue and profitability.For Q4FY24, the company reported a revenue of ₹354 crore as compared to ₹258 crore in Q4FY23, with 76% of the total revenue attributed to India and the remaining 24% to exports. PAT for Q4FY24 stood at ₹54 crore, a 315% YoY increase from ₹13 crore in Q4FY23.

For FY24, profit after tax reached ₹121 crore compared to ₹70 crore in FY23, alongside a rise in revenue to ₹909 crore from ₹816 crore in FY23. The company's order book as of March 31, 2024, amounted to ₹1,956 crore, which is more than 2x of revenue of FY24, according to the company's Q3 earnings report.

Also Read: Cochin Shipyard shares climb 10% to hit new all-time high on strong Q4 earningsAstra Microwave Products is engaged in the business of designing, developing, and manufacturing defence, aerospace, and space electronics systems, sub-systems, and components. It designs and develops radar, EW, strategic, and space electronic systems and sub-systems.

It has in-house capabilities in design, engineering, simulation, manufacturing, functional testing, environmental qualification for defence, and critical microwave and radio frequency-based equipment. The company has moved up the value chain from modules and sub-systems to systems and systems of systems.The company has seen its shares steadily rising from a low of ₹213.80 in March 2023 to the current price of ₹897.95, marking a remarkable gain of 320%.Also Read: Mazagon Dock Shipbuilders: This defence PSU stock is trading 1900% above its IPO price; what lies