Astra Microwave Products Ltd informed that the company has receives orders worth an aggregate amount of Rs 96.49 crore from the India Air Force. The order includes the supply of B-Kits, testers and trainer-specific A-Kits for SDR sets of MIG-29 upgraded aircraft within 12 months from the letter of intent (LOI).

Earlier, the company bagged orders worth Rs 158 crore for the supply of satellite sub-systems, airborne radar and sub-systems of radar and EW projects, from the Defence Research and Development Organisation (DRDO), Indian Space Research Organisation (ISRO) and Defence Public Sector Undertakings (DPSUs).

Astra Microwave Products is involved in the development, design, and manufacture of sub-systems for Radio Frequency and microwave systems used in defence, space, meteorology, and telecommunication.

On Friday, shares of Astra Microwave Products Ltd zoomed 1.35 per cent to Rs 427.65 per share from its previous closing of Rs 421.95. The shares of the company traded at an intraday high of Rs 434.95 and an intraday low of Rs 420.75.

The company has a market capitalization of over Rs 4,000 crore. The company has been maintaining a healthy dividend payout of 29.3 per cent. Including the above order, the company’s order book stands at over Rs 1,800 crore. The net sales increased by 9 per cent to Rs 816 crore and net profit increased by 84 per cent to Rs 70 crore in FY23 compared to FY22.

The stock gave multi-bagger returns of 262 per cent in just 3 years and over 1,100 per cent in a decade. Investors should keep an eye on this Small-Cap aerospace & defence stock.