ideaForge Technology vs Astra Microwave Products: Share Price, Comparison and Key Differences
- August 11, 2026
- Posted by: Lakshit Sharma
- Category: News
ideaForge Technology MCap Rs 4,513 Cr, loss-making (EPS -3.43, ROE -2.84%). Astra Microwave Products MCap Rs 17,469 Cr, PE 90.55x, ROE 14.68%.
ideaForge Technology vs Astra Microwave Products is a comparison defence electronics investors look up when evaluating two listed Indian defence technology companies. ideaForge Technology, a Mumbai-based company that listed in 2023, is India’s leading drone manufacturer – making military-grade UAVs (unmanned aerial vehicles) for the Indian Army, Border Security Force and other defence and security organisations. Astra Microwave Products, a Hyderabad-based company, manufactures microwave and radio frequency (RF) sub-systems, assemblies and electronic warfare modules for Indian defence organisations (DRDO, HAL, BEL) and the Navy and Air Force. Both ideaForge vs Astra Microwave are Indian defence technology companies benefiting from India’s defence indigenisation push.
This ideaForge Technology vs Astra Microwave Products article covers reach and market position, key products, latest declared results and stock valuation. The ideaForge Technology vs Astra Microwave Products data below is sourced from Groww and public company filings and reflects the most recently available information at the time of writing.
ideaForge Technology vs Astra Microwave Products: Reach and Market Position
On the ideaForge Technology side of the ideaForge Technology vs Astra Microwave Products comparison, ideaForge supplies surveillance UAVs, loitering munitions and drones to the Indian Army, BSF, CISF and other Indian defence organisations. Market capitalisation is Rs 4,513 Cr.
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On the Astra Microwave Products side of the ideaForge Technology vs Astra Microwave Products comparison, Astra Microwave supplies RF and microwave subsystems, radar components and electronic warfare modules to DRDO, HAL, BEL, and the Indian Navy and Air Force. Market capitalisation is Rs 17,469 Cr.
ideaForge Technology vs Astra Microwave Products: Key Products and Business Mix
In the ideaForge Technology vs Astra Microwave Products product comparison, ideaForge Technology offers: ideaForge earns from military UAV supply contracts. EPS is -Rs 3.43 (loss-making). ROE is -2.84 percent. ideaForge is currently loss-making as it scales manufacturing capacity and bids for large defence orders.
For Astra Microwave Products in this ideaForge Technology vs Astra Microwave Products breakdown: Astra Microwave earns from microwave subsystems, active electronically scanned array (AESA) radar components, electronic countermeasures and satellite communication modules. EPS is Rs 20.32. PE is 90.55x, ROE 14.68 percent, D/E 0.22.
ideaForge Technology vs Astra Microwave Products: Latest Results
The ideaForge Technology vs Astra Microwave Products results for ideaForge Technology: ideaForge Technology has a market cap of Rs 4,513 Cr and is loss-making with EPS of -Rs 3.43. Investors considering ideaForge should note its loss-making status and note that ideaForge is 3.9 times smaller than Astra Microwave.
The ideaForge Technology vs Astra Microwave Products results for Astra Microwave Products: Astra Microwave Products has a market cap of Rs 17,469 Cr and PE of 90.55x. ROE is 14.68 percent. Astra Microwave is profitable and a long-established Indian defence electronics company.
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ideaForge Technology vs Astra Microwave Products: Stock and Valuation
The ideaForge Technology vs Astra Microwave Products stock comparison uses the latest available market data from Groww. Investors tracking ideaForge Technology vs Astra Microwave Products should verify current prices on NSE or BSE before trading.
ideaForge vs Astra Microwave at current valuations: ideaForge is loss-making at Rs 4,513 Cr market cap. Astra Microwave trades at Rs 17,469 Cr market cap, PE 90.55x, ROE 14.68 percent. Astra Microwave is the clear financial leader – profitable and established. ideaForge is a loss-making startup in a high-growth drone category.
ideaForge Technology vs Astra Microwave Products: Quick Comparison Table
The ideaForge Technology vs Astra Microwave Products comparison table below summarises the key metrics covered in this article side by side.
| Parameter | ideaForge Technology | Astra Microwave Products |
|---|---|---|
| Sector | Military UAVs and drones (India defence, BSF, Army) | RF/microwave subsystems, AESA radar, electronic warfare (Indian defence) |
| Market Cap | Rs 4,513 Cr | Rs 17,469 Cr |
| P/E Ratio | N/A (loss-making) | 90.55x |
| ROE | -2.84% (losses) | 14.68% |
| Profitability | Loss-making | Profitable |
| Defence Client | Army, BSF, CISF, CRPF | DRDO, HAL, BEL, Navy, Air Force |
| Product | Military-grade surveillance UAVs, loitering munitions | Microwave subsystems, AESA radar components, EW modules |
Conclusion
The ideaForge Technology vs Astra Microwave Products comparison above covers the key data points on reach, products, results and valuation. ideaForge Technology vs Astra Microwave Products covers a drone startup versus an established defence electronics company. ideaForge is loss-making but has first-mover advantage in Indian military drones. Astra Microwave is a profitable, long-established defence electronics supplier with a broad customer base. ideaForge vs Astra Microwave investors should review ideaForge’s path to profitability, military UAV order size, Astra’s AESA radar programme ramp and defence indigenisation policies. Consult a SEBI-registered advisor for personalised guidance.
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Disclaimer: Data and figures in this article are sourced from publicly available information, including company results filings and exchange data, and are current as of the time of writing. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What does ideaForge Technology make?
Ans. ideaForge Technology designs and manufactures military-grade unmanned aerial vehicles (UAVs) – drones – for surveillance, intelligence gathering and security applications. Its drones are used by the Indian Army, Border Security Force and paramilitary organisations.
What does Astra Microwave Products make?
Ans. Astra Microwave Products manufactures radio frequency (RF) and microwave subsystems – including active electronically scanned array (AESA) radar modules, electronic warfare and countermeasure assemblies, satellite communication modules and sensor systems for Indian defence.
Why is ideaForge loss-making?
Ans. ideaForge is scaling its manufacturing capacity, investing in R&D for new UAV models and building vendor supply chains for military drone production. Defence manufacturing startups typically operate at losses during the capacity build-out phase before large government orders provide revenue scale.
What is AESA radar?
Ans. AESA (Active Electronically Scanned Array) is an advanced radar technology used in fighter aircraft, naval ships and ground-based air defence. Astra Microwave makes key microwave subsystems that go into AESA radar systems for the Indian Air Force and Navy.
Is India a growing drone market?
Ans. Yes. India has a large drone import substitution opportunity as the Ministry of Defence pushes to indigenise UAV procurement. ideaForge is positioned to benefit from the “Make in India” UAV policy mandates.
Are ideaForge and Astra Microwave in Nifty 50?
Ans. Neither is in Nifty 50. Both are tracked in smaller defence indices.
Which is larger, ideaForge or Astra Microwave?
Ans. Astra Microwave Products at Rs 17,469 Cr is approximately 3.9 times larger than ideaForge Technology at Rs 4,513 Cr.