Astra Microwave sets up facility at Hardware park

City-based Astra Microwave Products Limited (AMPL) has set up a state-of-the-art monolithic microwave integrated circuit (MMIC) facility at the Hardware Technology Park in the city.

Speaking to Business Standard, S G Reddy, general manager (finance and accounts) of Astra Microwave Products Limited, said: "The new MMIC facility is at present in the process of undergoing qualification tests by space agencies on such parameters as assembly, processes etc. The certification is expected to be completed by December 2004," adding, "Once it is commissioned, AMPL would be the first private sector company to have such a facility."

The company, a leader in providing microwave solutions, has embarked on expanding its production and R&D facilities with an approximate capital outlay of Rs 10 crore which would be funded through debt and internal accruals.

For the financial year ended March 31, 2004, AMPL registered a 71.32 per cent growth in revenues at Rs 39.18 crore as compared to Rs 22.87 crore in the year 2002-03.

The net profit rose by 68.78 per cent to Rs 7.49 crore from Rs 4.41 crore. The company has declared a 30 per cent dividend for the financial year 2003-04.

"During the last year, the company further strengthened its position in the defence sector, maintained a steady growth in the civil telecom segment and bettered its prospectus in space segment," Reddy said.

The company's order book increased by over 200 per cent in the last one year and at present stands at Rs 83 crore. The company is expecting the turnover to cross Rs 60 crore during the current financial year.

During the last financial year, the company set up a wholly owned subsidiary in the US.

"The investment in this subsidiary was around Rs 45 lakh which was incurred mainly for a managing marketing activities in that country," Reddy said.