Dark Horse

ASM TECHNOLOGIES
ASTRA MICROWAVE (526433) (173.5) (Face Value Re.10)
(532493 & NSE) (108) (Face Value Rs.2) Incorporated in 1992, Bengaluru based ASM Tech-
Incorporated in 1991, Hyderabad based Astra Microwave Prod- nologies Limited provides consulting services in the
ucts Limited designs, develops, and manufactures sub-systems
areas of business systems, engineering services, tech-
for RF and microwave systems used in defense, space, meteo-
rology, and telecommunication applications in India. It offers trans- nology services, and IT infrastructure services in India,
mit/receive modules for active apertures, low power microwave Singapore, the United States, and the United Kingdom.
sub-systems for central acquisition radar, electronic beam form- The company offers enterprise applications services
ers for 3-D radar, microwave receivers, high power 4-port circu- comprising package implementation, support, and main-
lators for radar applications, and limiters; data and video telemetry tenance; enterprise product development; and enterprise
transmitter systems, video telemetry receivers, telemetry track-
ing systems, and telemetry transmitters for missile applications;
applications integration services for SAP, Oracle,
and frequency synthesizers for army applications, VHF/UHF and Microsoft Dynamics, business process management,
microwave range front-end LRUs for ground surveillance applica- Internet applications, and outsourced product develop-
tions, and VHF/UHF and microwave range biconical, dual-polar- ment, as well as application maintenance and training
ized antennas for use in ground surveillance applications. The services. Its services for technology solutions consist
company also provides ground based products, including coher- of system software, embedded software, network and
ent frequency generators, L-band modulators, switchable rout-
ers, V/UHF T/R modules, and Ka-band indoor/outdoor units; and
telecom, engineering services, and outsourced product
on-board, such as C-band T/R modules, SSPA screening, power development. The company serves manufacturing, oil
dividers, X-band phase shifters, power amplifiers, S-band trans- and gas, telecom, retail, product engineering, defense,
mitters, RISAT antenna, switch matrix, Ku-band receivers and sugar, and other industries, as well as independent soft-
beacon sources, and C-band MMIC receivers for space applica- ware vendors and product engineering services.
tions.
It has an equity base of just Rs.5crore that is sup-
It has an equity base of just Rs.17.32crore that is supported
by reserves of around Rs.435.86crore. The Promoters hold ported by reserves of around Rs.42.63crore. The Pro-
13.14%, Mutual funds hold 28.09%, Alternative investment funds moters hold 61.84%while the investing public holds
hold 2.78%, FPIs hold 2.35%, MotilalOswal Focused Growth Op- 38.16% stake in the company. In January 2018 well-
portunity Fund hold 1.85%, TATA Investment hold 1.62% while known CA firm Haribhakti& Company's founder
the investing public holds 50.17% stake in the company. ShaileshHaribhakti bought 71,500 shares at Rs.143.95.
Company has reported fantastic numbers for Q3FY18. Dur-
ing Q3FY18, AMPL posted 143% % higher PBT & 92.52% higher
Company has reported fantastic numbers for
PAT of Rs.16.48crore on income of Rs.86.28crore fetching an Q2FY18. During Q2FY18, ASMTL posted 55.33% higher
EPS of Rs.1.90 on a standalone basis. PAT of Rs.1.60crore on higher income of Rs.21.57crore.
During 9MFY18, its PBT soared 50.14% & PAT soared 45.26% During 9MFY18, its net profit zoomed Rs.2.87crore
to Rs.30.97crore from Rs.21.32crore in 9MFY17 on income of on higher income of Rs.42.32crore fetching an EPS of
Rs.191.28crore fetching an EPS of Rs.3.58 on a standalone ba- Rs.5.75.
sis.
At CMP stock is trading at PE ratio of 15.4 which is attractive.
It has paid 50% dividend for FY17 and paid 25%
The company has an order book of Rs.533crore as at December interim dividend for FY18. At the current share price of
2017 which is executable in the next 12 to 18 months period. Rs.173.50 this result in a dividend yield of 2.88% which
Orders booked during 9MFY18 are Rs.214crores. is attractive.
It has respect and tested Rs.100 levels in 6 times after May On Friday in highly negative sentiment stock was
2014 and available near this bottom level. Investors can buy this
closed in green sign. Investors can buy this stock with
stock with a stop loss of Rs.100. On the upper side, it could zoom
to Rs.145-150 levels in medium term… a stop loss of Rs.152. On the upper side, it could zoom
to Rs.210-225 levels in medium term…
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