Astra Microwave slides after new order win

Astra Microwave Products slipped 1.36% to Rs 108.60 at 13:56 IST on BSE even as the company said on Monday, 3 March 2008, it has received an order worth Rs 21.6 crore from ISRO Telemetry Tracking and Command Network, Bangalore.

The company made this announcement during trading hours today, 3 March 2008.

Meanwhile, BSE Sensex was down 602.46 points or 3.43% to 16,976.46, as Asian stocks fell sharply amid growing concerns about the global impact of a US slowdown.

On BSE, 84,880 shares were traded in the counter. The scrip had an average daily volume of 1.14 lakh shares in the past one quarter.

The stock hit a high of Rs 113.50 and a low of Rs 105 so far during the day. The stock had a 52-week high of Rs 187 on 18 July 2007 and a 52-week low of Rs 73.50 on 15 February 2008.

The small-cap scrip had outperformed the market over the past one month till 29 February 2008, gaining 10.04% compared to the Sensex’s decline of 0.40%. It had underperformed the market in the past one quarter, declining 11.03% compared to Sensex’s decline of 9.22%.

The company’s current equity is Rs 10.75 crore. Face value per share is Rs 2.

The current price of Rs 108.60 discounts its Q3 December 2007 annualized EPS of Rs 3.33, by a PE multiple of 32.61.

The project is to be completed by next 12 months.

In February 2008, the company entered into a preliminary pact with Raytheon Company, USA to manufacture and supply medium multi-mole combat aircraft to the Indian defence ministry.

Astra Microwave Products’ net profit declined 45% to Rs 4.48 crore on 22.4% growth in net sales to Rs 26.47 crore in Q3 December 2007 Q3 December 2006.

The company is engaged in designing and manufacturing high value added RF and microwave super components and sub systems. The products are widely used in VSAT operations, radars, navigational equipment, public mobile trunk radio, WLL, cellular GSM/DCS or PCS networks.