India, July 4 -- India's drive for defence indigenisation has thrown open a rare structural window for local electronics companies to move up the value chain, and few have positioned themselves as deliberately as this Hyderabad-based manufacturer of radar subsystems and RF systems. The company has spent over 30 years doing serious engineering work in defense labs, space agencies and strategic programs, and has quietly graduated from being a supplier of components to being an architect of entire mission-critical systems. Management believes the biggest chapter of that journey is still ahead.

With a market capitalization of Rs.17,567, shares of Astra Microwave Products Limited were trading at Rs.1,850, with a 52-week range of Rs.1,857 to ...