Astra Microwave Q4 FY26: Profit up 44%, revenue 20%

Key takeaway from the March 2026 quarter

Astra Microwave Products reported a strong set of audited results for the quarter and year ended 31 March 2026, with double-digit growth in revenue and profit. The March quarter performance stood out for a sharp rise in profitability, supported by margin expansion and lower material cost intensity versus the year-ago period. The numbers also came in well ahead of what the market was expecting, based on commentary that estimates were materially lower for both growth and margins. The stock reacted immediately, with reports of a sharp intraday surge and a fresh 52-week high.

Q4 FY26 revenue: standalone and consolidated figures

For Q4 FY26 (March 2026 quarter), the company reported standalone revenue from operations (net sales) of ₹487.22 crore, up 20.36% from ₹404.79 crore in Q4 FY25 (March 2025). Separately, the consolidated revenue from operations for the quarter was reported at ₹488.24 crore, up 19.6% to 19.71% year-on-year, versus ₹407.85 crore to ₹408 crore in the corresponding quarter.

Reports also highlighted a strong sequential jump in quarterly revenue compared with the December 2025 quarter, where net sales were shown at ₹258.24 crore in the quarterly table. One comparison noted revenue rising 88% versus around ₹240 crore reported in the December quarter.

Profit growth: net profit rises 44% in Q4

Astra Microwave’s profitability improved sharply in Q4 FY26. Reported net profit for the March 2026 quarter rose 44.21% to ₹105.98 crore versus ₹73.49 crore in the March 2025 quarter. Multiple reports rounded this to ₹106 crore for Q4 FY26 and ₹73.5 crore for Q4 FY25.

Operating profitability was also strong. A detailed financial table showed Operating Profit of ₹159.91 crore in Q4 FY26 versus ₹119.71 crore in Q4 FY25.

Margin expansion and cost structure

The March quarter margin expansion was a key feature of the result. Operating profit margin (OPM) for Q4 was reported at 33.08% versus 29.04% in Q4 FY25. A market note also stated that EBITDA margin expanded to 33%, compared with an estimate of 26%, and represented an improvement of about 400 basis points.

Cost-related disclosures pointed to lower material cost intensity. One market commentary said material costs were about 50% of sales in Q4 FY26 versus 54% in Q4 FY25, aiding profitability.

Standalone expenditure line items in the results table for Q4 FY26 included:

• Consumption of raw materials: ₹194.84 crore (Q4 FY25: ₹187.28 crore)
• Increase or decrease in stocks: ₹54.07 crore (Q4 FY25: ₹33.50 crore)
• Employee cost: ₹53.98 crore (Q4 FY25: ₹42.50 crore)
• Depreciation: ₹12.72 crore (Q4 FY25: ₹10.99 crore)

Sequential trend across FY26 quarters

The quarterly result table provided a clearer picture of how the year progressed, including a strong finish in the March quarter.

• Net Sales: ₹404.79 crore (Mar 2025), ₹197.26 crore (Jun 2025), ₹212.96 crore (Sep 2025), ₹258.24 crore (Dec 2025), ₹487.22 crore (Mar 2026)
• Total Expenditure: ₹285.08 crore (Mar 2025), ₹158.84 crore (Jun 2025), ₹166.78 crore (Sep 2025), ₹178.33 crore (Dec 2025), ₹327.31 crore (Mar 2026)
• Other Income (Mar 2026): ₹7.10 crore
• Interest (Mar 2026): ₹14.44 crore

FY26 performance: revenue and profit growth

For the full year ended March 2026, reported revenue growth remained in double digits. One set of figures showed annual sales rising 10.62% to ₹1,162.80 crore in FY26 from ₹1,051.18 crore in FY25. Another reported view stated FY26 revenue at ₹1,163 crore versus ₹1,051 crore.

On profitability, a year-end table reported FY26 net profit (NP) at ₹192.97 crore versus ₹153.51 crore in FY25, a rise of 26%. A similar summary described FY26 net profit at ₹192 crore, up 27% from ₹151 crore.

Separately, a company-focused summary on standalone performance stated:

• Standalone FY26 revenue rose 10.7% year-on-year to ₹1,156 crore from ₹1,044 crore
• PAT was reported up 23.9% year-on-year to ₹178 crore
• EBITDA margin improved to 28.0%

Guidance and estimates: what the market focused on

A market note said Q4 revenue growth of around 20% exceeded an estimate of 11%, driven by “healthy execution of a strong order book.” The same note highlighted that EBITDA and net profit increased 36% and 44%, respectively, versus estimates that implied a 3% to 4% decline.

For the full year, another commentary said revenue, EBITDA and net profit increased by around 11% and 25% each, while also noting that revenue growth was slightly below a stated guidance of 14%.

Stock reaction: shares jump and hit a 52-week high

The results triggered a strong market reaction. Reports said Astra Microwave Products shares surged about 12% intraday and made a fresh 52-week high, with one price point cited at ₹1,379. Separately, the current share price was listed as ₹1,397.4.

The company also announced a final dividend of ₹2.40 per share, alongside the results.

Snapshot table: Q4 and FY headline numbers

What to track next

The company has already published audited financial results for the quarter and year ended 31 March 2026, and the market has reacted strongly to the March-quarter beat on revenue, margins, and profit. Investors will track follow-through on order execution, the sustainability of the margin profile highlighted in Q4, and the dividend timeline following the ₹2.40 per share final dividend announcement.