HAL · Hindustan Aeronautics Ltd · Aerospace & Defense
HAL · Hindustan Aeronautics Ltd · Aerospace & Defense
As of 05 Nov close
52-week range
2.1% below 52-week high
52-week range: as of 05 Nov 2026 close.
Price chartDaily closes on the stock page.
Weighted combination of 8 measured readings. Not a probability, a rating or a forecast.
Full signal detail →Fundamentals as of 15 Sep 2026 · the company's own latest record is 51 days old
Revenue (latest Q)
₹5,515 Cr
Revenue YoY
PAT YoY
+14.9%
Operating margin
Revenue, last 8 quarters
P/E (TTM)
P/B
8.7
P/S (TTM)
9.7
Sector P/E
54.8
Dividend yield
+0.9%
| Company | P/E | P/B | Net margin | ROE | D/E | Div. yield |
|---|---|---|---|---|---|---|
| HAL (this stock) | 31.4 | 8.7 | +27.6% | +22.7% | 0 | +0.9% |
| Bharat Electronics | 49 | 12.1 | +21.4% | +25.6% | 0 | +0.6% |
| Bharat Dynamics | 96.3 | 10.5 | +18.8% | +12.3% | 0 | +0.4% |
| Data Patterns (India) | 94.1 | 15.4 | +28.5% | +15.4% | 0 | +0.2% |
Promoter
stable
FII
falling 3q
MF
6.79% (+0.98pp)
rising 1q
Insider trades
No insider trades in the last 12 months.
Bulk/block deals
No bulk/block deals in the last 12 months.
News timeline
- unknownen.globes.co.il· 01 Nov 2026, 04:25 pmIAI set to win $900m Indian refueling aircraft deal
- highsector policyeconomictimes.indiatimes.com· 27 Oct 2026, 09:17 amHAL, BEL, Paras Defence, other stocks rise up to 4% after DAC clears proposals worth Rs 2.12 lakh crore
- lowthehindubusinessline.com· 17 Oct 2026, 09:50 pmBandu’s Blockbusters for October 18, 2026
- loweconomictimes.indiatimes.com· 12 Oct 2026, 06:48 pmGE Aerospace to nearly double supplier spend in India by 2030, eyes growing Aviation demand
- loweconomictimes.indiatimes.com· 08 Oct 2026, 11:07 pmIAF needs to spread its wings: Is the declining squadron strength in the IAF a sign of deeper systemic issues?
- loweconomictimes.indiatimes.com· 07 Oct 2026, 11:41 pmLCA fighter engine supplies stabilise as GE ships four sets to HAL
- loweconomictimes.indiatimes.com· 07 Oct 2026, 02:16 pmFrom Shakti, Aravalli to HTSE-1200: How India is developing its own desi helicopter engines from attack to cargo
- lowthehindu.com· 07 Oct 2026, 01:02 pmGE Aerospace to ship 4 engines for Tejas LCA
- lowthehindubusinessline.com· 06 Oct 2026, 06:37 pmRajnath launches first Fleet Support Ship, lays keel of FSS-5 at Hindustan Shipyard
- loweconomictimes.indiatimes.com· 06 Oct 2026, 06:14 pmSelf-reliance in aero-engines foundation of India's aerospace sovereignty: Rajnath Singh
- lowlivemint.com· 04 Oct 2026, 04:24 pmLockheed Martin’s India expansion plan hinges on $10.5bn military aircraft bid: Which firms are competing for project?
- mediumcorporate actioneconomictimes.indiatimes.com· 04 Oct 2026, 08:33 amLockheed Martin to expand production in India, if it wins transport aircraft bid
- loweconomictimes.indiatimes.com· 03 Oct 2026, 12:51 pmIAF chief hints at foreign fifth-gen fighter option if AMCA is delayed, cites Russia's Su-57 offer
- loweconomictimes.indiatimes.com· 28 Sept 2026, 04:24 pmLCA Mk2, AMCA first flight dates confirmed: Defence Secretary reveals timeline for India’s next-gen fighter jets
- mediumcorporate actioneconomictimes.indiatimes.com· 27 Sept 2026, 05:00 pmEmbraer says Mahindra will be its partner for IAF's 60 transport plane tender, to partner with Adani for commercial planes
- loweconomictimes.indiatimes.com· 19 Sept 2026, 12:10 amRajnath Singh flags defence project delays, urges HAL to create 'technologies that do not exist'
- lowbusiness-standard.com· 18 Sept 2026, 08:33 pmDefence Min calls for indigenous tech, public-private synergy in aviation
- loweconomictimes.indiatimes.com· 18 Sept 2026, 12:51 pmIndia’s Big Defence Push: HAL to Hand Over Tejas Trainers, HTT-40s & Dhruv NGs
- loweconomictimes.indiatimes.com· 18 Sept 2026, 06:00 amStocks in news: Tata Group, Wipro, BEL, HAL, Petronet LNG and Bharat Forge
- lowthehindubusinessline.com· 17 Sept 2026, 09:12 pmHAL CMD Ravi K speaks on Tejas LCA delays, GE engine co-production, legacy challenges and future programmes
Concalls & investor presentations
AI-generatedKey takeaway: During the Q4FY26 earnings conference call, management highlighted several key achievements for Hindustan Aeronautics Limited (HAL) in FY 2025-26, including the establishment of a production capacity for 8 LCA Mark-1A aircraft per annum and successful maiden flights of new aircraft models. HAL reported a revenue from operations of INR 33,050 crores, a 7% increase from the previous year, with robust EBITDA growth of 11% to INR 13,472 crores. The order book improved significantly to INR 2,54,538 crores, with fresh orders totaling INR 97,028 crores. Management set a goal of maintaining double-digit revenue growth for FY 2026-27 and guided toward an EBITDA margin of around 30%. They acknowledged challenges in the supply chain but expressed confidence in meeting delivery timelines for key projects, including the LCA and HTT-40 programs. The call concluded with management emphasizing their commitment to national security and resilience amid challenges.
Management emphasized achievements and growth while addressing challenges with confidence.
Sourced from an exchange-filed transcript, dated 22 May 2026. Summary is RedixFi-generated and distinct from investment advice.
AI Summary of Annual Report
AI-generatedHindustan Aeronautics Limited (HAL) reported significant capital expenditure of ₹246,535 lakh in FY2025-26, driven by infrastructure and R&D projects. The company maintained no short-term or long-term borrowings as of March 31, 2026. However, HAL faced governance issues, including non-compliance with board composition and audit committee requirements due to the absence of independent directors. Additionally, several joint ventures, including Infotech HAL Ltd, are under winding-up proceedings, raising liquidity and operational risks. The company also noted a substantial increase in pension liabilities and significant accumulated losses in some subsidiaries, impacting net worth.
- Capital expenditure of ₹246,535 lakh in FY2025-26 for infrastructure and R&D projects.
- No short-term or long-term borrowings as of March 31, 2026.
- Non-compliance with board composition and audit committee requirements due to lack of independent directors.
- Infotech HAL Ltd, a joint venture, is under voluntary winding-up proceedings.
- Substantial increase in pension liabilities and significant accumulated losses in subsidiaries like HATSOFF Helicopter Training Private Limited.
Key takeaway: HAL's FY2025-26 performance highlights significant R&D and infrastructure investments but is marred by governance issues, liquidity risks from joint ventures, and financial strain in subsidiaries, necessitating close monitoring of these factors.
The following annual report excerpts provide qualitative strategic context. Do not treat any specific financial figures in these excerpts as authoritative — they may be incorrectly labeled due to PDF table extraction limitations. For precise financial data, refer to the structured fundamentals data above.
Governance disclosures
AI-generatedNeeds attention
Auditor Qualification (1 item); Regulatory Action (2 items); Default / Covenant Breach (2 items); Investigation or enforcement mention (2 items)
Items of these kinds are disclosed in the filings. This is a count of disclosed items. It is not a finding about the company and its cause has not been independently established.
Auditor Qualification
1 occurrenceRecent (last 12 months)
The auditor noted that the company has not complied with provisions regarding the composition of the Board of Directors, constitution of certain Board Committees, and quorum requirements for Board Meetings, as mentioned in the Emphasis of Matter paragraphs II & III of the Independent Auditors’ Report.
Regulatory Action
2 occurrencesRecent (last 12 months)
The company is not in compliance with Section 149(4) of the Companies Act, 2013 and related regulations due to vacant independent director positions, and failed to meet quorum requirements in a board meeting, resulting in a fine waived by NSE.
Earlier (1-3 years ago)
The company was fined a total of ₹43,56,560 by Bombay Stock Exchange Ltd (BSE) and National Stock Exchange (NSE) for non-compliance under SEBI (LODR) Regulations, 2015 during the year under review.
Default / Covenant Breach
2 occurrencesRecent (last 12 months)
Infotech HAL Limited has initiated a corporate insolvency resolution process after filing a petition with the NCLT, which was admitted on 22 August 2025.
Earlier (1-3 years ago)
The ECB loan is classified as a Non-Performing Asset by the lending bank due to non-payment of installments, though the loan has not been recalled.
Investigation or enforcement mention
2 occurrencesRecent (last 12 months)
The company has provisioned ₹1892 lakhs as fraudulent payments made to contractors and others from May 2011 to September 2018, and the matter is under investigation by the CBI.
Earlier (1-3 years ago)
A fraud involving misappropriation of funds by a company official in collusion with six contractors has been noticed and referred to the Vigilance department, which lodged an FIR with the CBI. An amount of 1892 lakhs has been provisionally assessed as fraudulent payments made between May 2011 and September 2018.
Routine disclosures
Internal Control Weakness
1 occurrenceRecent (last 12 months)
The company's ERP system is not linked to the internet and modules are not interlinked, requiring manual journal entries with maker-checker controls to maintain integrity. The audit found no material weaknesses in IT systems, controls, or cyber security, except for an unspecified issue noted.
Contingent Liability
2 occurrencesRecent (last 12 months)
The company has a contingent liability related to sales tax disputes in Maharashtra, with a disputed tax demand reduced from ₹1001841 lakhs to ₹273724 lakhs, and the company paid ₹247097 lakhs in March 2025, which was reimbursed by IAF.
Earlier (1-3 years ago)
The company has provisions for claims and liquidated damages amounting to 28943 and 146331 respectively as of 31st March 2025.
Related-Party Transaction
1 occurrenceEarlier (1-3 years ago)
Stock Exchanges imposed fines for delay in submission of Related Party Transaction disclosure for the half year ended March 31, 2022.
Management & Board Governance
2 occurrencesRecent (last 12 months)
The company did not meet the quorum requirement for a board meeting on May 14, 2025, and had invalid constitutions for several committees from April 1, 2025, to June 1, 2025.
Earlier (1-3 years ago)
The company has not complied with the DPE Guidelines on Corporate Governance and Listing Regulations as half of the board was not independent, there were no women independent directors since December 28, 2024, and the Audit Committee and Nomination & Remuneration Committee were not validly constituted from December 28, 2024.