Astra Microwave Products Limited has recorded Rs. 97.37 crore of sales and loss of Rs. 1.52 crore for the first quarter FY 2020-21 as compared to Rs. 30.26 crore of sales and loss of Rs. 10.71 crore for the corresponding quarter of FY 2019-20.
Most of the sales during the quarter are exports which explains negative profit for the period. The company is expected to do Rs. 130 crore worth of sales for the second quarter with exports dominating the mix.
The company has booked Rs. 137.45 crore worth of orders during the first quarter and ended with Rs. 1,373.65 crore of order booking. The contracts include Akash (7 sqns) order for various sub-systems worth Rs. 93 crore, Shakti sub-systems worth Rs. 5.62 crore and MMIC based Ku-band receiver for space use worth Rs. 3.33 crore.
As of today the company has 1,639 crore worth of orders on hand with a break-up of Rs. 953 crore for exports and rest domestic. On the domestic front, Rs. 379 crore is from defence, Rs. 234 crore from space and rest from metrology and other sectors. Most of these orders are executable in the next 18 to 24 months.
The company expects to book further Rs. 375 crore to Rs. 400 crore worth of order during rest of the year and is confident to cross Rs. 500 crore sales for the year.
The company is taking adequate steps to take advantage of recent government decisions to encourage domestic defence industry in supply of critical defence supplies for armed forces.