Astra Microwave Products Ltd

Meeting Details

• Date and time: 29 September 2026, 09:00 AM onwards.
• Meeting type: Group meeting; mode: physical at Hyderabad facility.
• Purpose: discuss publicly available information with investors/analysts.
• Key participants: company officials including Company Secretary & Compliance Officer.

AGM Details

• AGM held 18 Sep 2026 via VC/OAVM.
• Start time 3:00 PM, end 3:50 PM IST.
• Record date 11 Sep 2026.
• Remote e-voting: 14–17 Sep 2026.

Key Resolutions

• Resolution 1: Adopt standalone and consolidated financial statements.
• Resolution 2: Declare final dividend on equity shares.
• Resolution 3: Re-appoint Prakash Anand Chitrakar by rotation.
• Resolution 4: Re-appoint Atim Kabra by rotation.
• Resolution 5: Ratify remuneration to Cost Auditor.
• Resolution 6: Re-designate Dr. M. V. Reddy as MD.
• Resolution 7: Revise remuneration of Atim Kabra.
• Resolution 8: Approve cash compensation to MD S. Gurunatha Reddy.
• Resolution 9: Approve material RPT with Astra Rafael Comsys Pvt Ltd (JV).

Voting Results

• All resolutions passed with requisite majority.
• Resolution 9: 85.53% in favour, 14.47% against.

Dividend

• Final dividend approved on equity shares; per-share amount not disclosed.

Director/Remuneration Changes

• Dr. M. V. Reddy redesignated from JMD to MD.
• Prakash Anand Chitrakar re-appointed by rotation.
• Atim Kabra re-appointed by rotation; remuneration revised.

Material Related Party Transactions

• RPT with Astra Rafael Comsys Private Limited (JV) approved for FY 2026-27.

AGM Details

• AGM held on Sep 18, 2026 at 3:00 PM via VC/OAVM.
• 84 members present via video conference.
• e-voting window from Sep 14–17, 2026; Scrutinizer appointed.

Key Resolutions

• Adopt audited standalone and consolidated financial statements for the year ended March 31, 2026.
• Declare final dividend on equity shares for the year ended March 31, 2026.
• Reappointment by rotation of Director Prakash Anand Chitrakar.
• Reappointment by rotation of Director Atim Kabra.
• Ratification of remuneration of Cost Auditors.
• Redesignation of Dr. M. V. Reddy from Joint Managing Director to Managing Director.
• Remuneration revision for Atim Kabra as Director (Strategy and Business Development).
• Approval of cash compensation to MD S. Gurunatha Reddy.
• Approval of material related party transactions with Astra Rafael Comsys Private Limited for FY 2026-27.

Voting Results

• Voting results to be announced within 48 hours after AGM.

Dividend

• Final dividend on equity shares proposed.

Director Changes

• Prakash Anand Chitrakar reappointed by rotation.
• Atim Kabra reappointed by rotation.
• Dr. M. V. Reddy redesignated as Managing Director.
• Remuneration revised for Atim Kabra as Director.
• Cash compensation approved for MD S. Gurunatha Reddy.

Auditor Appointments

• Ratification of Cost Auditors’ remuneration.

Material Related Parties

• Approval of material related party transactions with Astra Rafael Comsys Private Limited for FY 2026-27.

Instruments and ratings

• Long-Term bank facilities: CRISIL A+/Stable (upgraded from A/Positive).
• Short-Term bank facilities: CRISIL A1 (reaffirmed).
• Corporate Credit Rating: CRISIL A+/Stable (upgraded from A/Positive).

Rationale

• Rationale completed August 31, 2026; detailed factors not disclosed in filing.

Outlook

• Outlook: Stable for long-term ratings; no separate outlook for short-term.

Material changes since last rating

• Long-Term and Corporate ratings upgraded; Short-Term rating reaffirmed.

AGM notice and Annual Report access

• 35th AGM of Astra Microwave to be held on 18 September 2026 via VC/OAVM.
• Web-link provided for complete Annual Report details for members without registered emails.
• Cut-off date for sending the letter to non-email registered members: Friday, 21 August 2026.
• Shareholders urged to update PAN, KYC, address, contact and nomination details per SEBI norms.
• Annual Report is accessible at astramwp.com/agm-reports; Purva Sharegistry is the RTA.

Overview

• Standalone BRSR scope for FY2025-26.
• Main activity: design, development, and manufacture of RF and microwave systems.
• Radar equipment accounts for 96% of turnover; exports comprise 14%.
• Operations across 7 plants and 2 offices in India; R&D center in Bengaluru.
• Reporting boundary is standalone; presence in 15 Indian states and 2 international markets.

Key ESG Risks & Opportunities

• Product Design & Innovation: ongoing R&D drives competitive advantage and growth.
• Employee Satisfaction & Wellness: improves morale, productivity, and retention.
• Sustainable Supply Chain: Supplier Code of Conduct reduces environmental impact and protects value.
• Energy Management & Clean Tech: renewables lower costs and carbon footprint.
• Data privacy & cybersecurity: cyber risk managed via a framework overseen by IT Security and Risk Committees.
• Corporate Governance: governance risk addressed by board-led policy updates for transparency and compliance.

Governance & Policy Highlights

• Board/MD oversight via BRR framework; policies updated for legislation and best practices.
• Anti-corruption policy with zero tolerance; web link provided.
• Grievance redressal mechanism covers employees, customers, vendors, and investors.
• Bangalore facility awarded 5-Star GRIHA; solar energy and STPs installed across units.
• Adopted ISO 9001/AS9100D, ISO 45001, ISO 14001, ISO 27001; BRR aligned with NGRBC principles.
• Independent assurance by Intertek on BRSR core disclosures; Hyderabad operations scope.

Social Responsibility & Workforce

• Total employees 1,880; permanent 1,684 and non-permanent 196.
• Board female representation 12.5%; KMP female 0%.
• Permanent turnover 11.43% total; male 10.49%, female 15.86%.
• Differently abled: 2 permanent employees (100% of D).
• Cost on well-being measures: 0.08% of total revenue.
• Training: 100% BOD/KMP training; 91.28% of other employees.
• PF and gratuity coverage 100%; ESI 4.57%; Group Mediclaim 77.20%.
• Premises accessible to differently abled; equal opportunity policy per Disability Act.
• CSR expenditure: multiple programs benefiting thousands from vulnerable groups.
• Input material: 27.56% from MSMEs; 51.09% from within India.
• Job creation in smaller towns: semi-urban 76%, metropolitan 24%, urban 0%, rural 0%.
• POSH complaints: 0; wages to females 14.71% of total wages.

Environmental Performance

• Total energy 23,027.91 GJ; renewables 4,619.87 GJ; non-renewables 18,408.04 GJ.
• Energy intensity 0.0000019926 per rupee turnover; PPP-adjusted 0.0000068369.
• Water withdrawal 46,159.62 KL; consumption 29,263.51 KL; 21.36% recycled water.
• ZLD implemented at Units 3 and 4 with RO/MEE for high recovery; reuse in facility.
• Scope 1: 595.62; Scope 2: 3,288.93; Scope 3: 8,495.18 MTCO2e; total 12,379.73 MTCO2e.
• Waste generated 148.63 MT; recycled 0.68 MT; reused 1.30 MT; other recovery 3.10 MT; disposed 143.56 MT.
• 1 MW solar capacity; Telangana Haritha Haram participation; biodiversity support and green Spaces.
• Green credits: 0; PAT not applicable; e-waste and hazardous waste managed via licensed vendors.

Stakeholder Engagement & Complaints

• Key stakeholder groups: communities, investors, shareholders, employees, vendors, government, and customers.
• Engagement channels include email, website, meetings; frequency varies, with regular management reviews.
• Grievance mechanism: zero complaints filed in FY2025-26; 0 pending resolution across principles.
• Supplier Code of Conduct applied; 100% value chain partners assessed for health & safety and working conditions.
• Input from stakeholders informs environmental and social policy updates and program design.

Other Notable Metrics

• Independent assurance: Intertek, reasonable assurance on BRSR core disclosures for FY2025-26.
• Public policy: 7 trade/industry chamber affiliations; policy advocacy through associations; board reviews annually.
• Input materials from MSMEs and domestic suppliers; 100% value chain partner environmental/ESG alignment.
• CSR projects include Shrujan LLDC Craft Museum, Bal Aarogya Samvardhan, Sri Sathya Sai Trust activities, Kerala schools.
• Cybersecurity framework accessible via intranet; consumer feedback collected annually.

Financial snapshot

• Revenue from operations FY2025-26: Rs116.28 crore.
• Consolidated PAT FY2025-26: Rs192.97 crore.
• Basic EPS Rs20.32; diluted Rs20.27.
• Final dividend Rs2.40 per share proposed.

Key metrics & liquidity

• Order book consolidated: Rs2,141.21 crore as of 31-Mar-2026.
• Net debt to equity 0.10x; cash Rs174.76 crore.

Strategic developments

• HAL Uttam order: 122 AAAU units + 121 interface frames; Rs2,205.23 crore.
• Astra Rafael Comsys: Rs464 crore in 2025-26; JV order book Rs622 crore.
• Demerger of Space/Meteorology/Hydrology into Astra Space Technologies; in-principle approvals noted.

Investments & capital

• Capex Rs72.66 crore; R&D Rs57.77 crore.

AGM Details

• AGM date/time: 18 September 2026 at 3:00 PM IST via VC/OAVM.
• Mode: VC/OAVM; no physical attendance.
• Record date for dividend: 11 September 2026; register closed 12–18 September 2026.

Dividend

• Final dividend of Rs 2.40 per share proposed for FY2025-26; payable subject to tax.

Resolutions

• Ordinary: Adopt standalone financial statements for FY2025-26.
• Ordinary: Adopt consolidated financial statements for FY2025-26.
• Ordinary: Declare final dividend for FY2025-26.
• Ordinary: Re-appoint Prakash Anand Chitrakar as Director by rotation.
• Ordinary: Re-appoint Atim Kabra as Director by rotation.
• Special: Ratify remuneration of Cost Auditor (Rs 5,00,000).
• Special: Redesignate Dr. M. V. Reddy from Joint MD to MD.
• Special: Revise Atim Kabra's remuneration, effective Oct 1, 2026.
• Special: Approve cash compensation to S. Gurunatha Reddy for unexpired tenure.
• Ordinary: Approve related party transactions with ARC for FY2026-27 up to Rs 200 crore.

Directors & Appointments

• Dr. M. V. Reddy redesignated as Managing Director from Oct 1, 2026.
• Prakash Anand Chitrakar reappointed as Director by rotation.
• Atim Kabra reappointed as Director by rotation.

Auditors

• Cost Auditor remuneration ratified at Rs 5,00,000 for FY2026-27.

Related Party Transactions

• ARC-related party transactions: JV with 50% AMPL; up to Rs 200 crore for FY2026-27.

Subsidiary conversion and name change

• ROC approval received for conversion to Public Limited Company.
• Subsidiary renamed to Astra Space Technologies Limited (ASTL) effective 19 August 2026.
• ASTL remains wholly owned by Astra Microwave Products Limited; shareholding unchanged.