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Astra Microwave Products has come into focus after Motilal Oswal reiterated a Buy rating with a ₹1,150 target, driven by strong order inflows, margin expansion, and a ₹25,000 crore defence opportunity pipeline. The company is expected to deliver robust revenue and profit growth over the next few years, positioning it as a long-term defence sector play.
Astra Microwave Products is gaining investor attention after Motilal Oswal Financial Services maintained a “Buy” rating with a target price of ₹1,150. The optimism is driven by strong order inflows, margin expansion, and a robust defence opportunity pipeline estimated at ₹25,000 crore over the next 4–5 years. With expected revenue, EBITDA, and PAT CAGR of 18%, 19%, and 23% respectively through FY25–28, the stock is positioned as a long-term defence growth play.
India’s defence sector has emerged as one of the fastest-growing themes in the stock market, driven by government spending, indigenisation efforts, and large platform orders. Among the key beneficiaries of this trend is Astra Microwave Products, a specialised defence electronics company.
The stock has come into focus after a bullish research report from Motilal Oswal Financial Services, which reiterated its positive stance based on strong order inflows, margin expansion, and long-term defence demand visibility.
Astra Microwave reported better-than-expected Q3 FY26 results, primarily driven by improved margins, as highlighted in brokerage updates on platforms like Moneycontrol.
| Metric | Performance |
|---|---|
| Order inflow (Q3 FY26) | ₹470 crore |
| Expected order inflow (Q4 FY26) | ₹500–600 crore |
| Stock price (recent) | ~₹920 |
| Intraday move | ~3% gain |
The results reflect:
The biggest growth driver for Astra Microwave is the large defence opportunity pipeline.
| Segment | Opportunity Size |
|---|---|
| Defence electronics platforms | ₹25,000 crore+ |
| Time horizon | Next 4–5 years |
The company is expected to receive orders from:
This positions Astra as a key beneficiary of India’s defence modernisation cycle, supported by procurement initiatives from the Ministry of Defence, India.
Broker estimates suggest strong multi-year growth for the company.
| Metric | CAGR |
|---|---|
| Revenue | 18% |
| EBITDA | 19% |
| Net Profit (PAT) | 23% |
Growth is expected to accelerate further between FY27–30, as larger defence platform orders are finalised.
Motilal Oswal Financial Services has maintained a Buy rating on the stock.
| Parameter | Value |
|---|---|
| Target price | ₹1,150 |
| Valuation basis | 38× Mar’28E EPS |
| Investment view | Long-term defence growth play |
This suggests meaningful upside from current price levels, assuming execution remains strong.
These factors make Astra a high-growth defence electronics stock.
Despite the strong outlook, investors should monitor:
Analysts believe Astra Microwave is well-positioned to benefit from India’s defence spending cycle. With a strong order book and margin expansion, the company could deliver above-sector growth over the next few years, though execution and procurement timelines remain key risks.
Astra Microwave’s bullish outlook is supported by:
Core triggers:
For long-term investors, the stock represents a high-growth defence electronics opportunity aligned with India’s indigenisation push.
Popular platforms for trading stocks like Astra Microwave:
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