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Reduce Astra Microwave Products; target of Rs 150: Geojit

Geojit recommended reduce rating on Astra Microwave Products with a target price of Rs 150 in its research report dated June 26, 2021.

June 28, 2021 / 02:19 PM IST
 
 
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Geojit's research report on Astra Microwave Products


Astra Microwave products Ltd (AMPL) is leading designer and manufacturer of wide array of radio frequency systems, microwave chips, microwave based components and subsystems for Defence, Telecom and Space. Q4FY21 Revenue grew by 38% YoY, largely due to strong execution. EBITDA margin improved by 9.1% to 18.2% and PAT grew by 133% YoY on account of higher execution & lower cost.



Outlook


AMPL is trading at 1 Year forward P/E of 33x which seems to be at significant premium compared to historical valuation of 19x. We value AMPL at P/E 28x on FY23E and downgrade to Reduce with a target price of Rs150.

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first published: Jun 28, 2021 02:19 pm
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