Astra Microwave to set up R&D centre in Bangalore

M Somasekhar Hyderabad | Updated on August 01, 2014 Published on August 01, 2014

The Rs 531 crore, Astra Microwave Private Limited (AMPL) is establishing a new research and development Centre in Bangalore. It  will focus on developmental work related to radars for defence, security, medical and civilian applications. A budget of Rs 25 crore has been allocated for the next 3 to 5 years, said Shiban K Koul, its Chairman.

The Hyderabad-based company specialising in developing indigenous products for the strategic defence and space sectors achieved a record growth, with impressive orders for exports under the defence offset programme. It has an order book of Rs 813 crore.

The Bangalore R&D Centre, with 10 staff is all set to start functioning from leased premises. The company has bought land which will be used to establish the full fledged centre soon. The present investment is towards buying equipment and software to begin work, said Gurunath Reddy, Chief Financial Officer and Director of the company.

The Centre will develop complete systems. The main R&D of AMPL in Hyderabad is engaged in bringing out new products to broad base the offerings for the domestic market. It is working on products like Seekers, Advance Radar Warning Receivers and Wind Profile Radar, which has the potential to deliver volume business down the line. It employs nearly 300 people at present, he told Business Line.

Talking about the financial performance, Reddy said for the first quarter of the current fiscal the net profit and turnover registered manifold increase compared the same quarter last year. The profit stood at Rs 19 crore (Rs 2 crore) and turnover was Rs 188 cr (Rs 37 cr). The EPS for the present quarter was 2.33 (.26).

Published on August 01, 2014
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