MarketFriction

Hindustan Aeronautics Ltd

NSE HAL · BSE 541154 · Aerospace & Defense
₹4,601.00 -1.44%
NSE close2026-10-01
52 week range3,479.10 - 5,149.90
Market cap₹3,04,246 Cr.
P/E32.6
Nifty Next 50Nifty 100Nifty 200Nifty 500Nifty India DefenceNifty PSE No price band Delivery 42.5%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales5,6366,06114,7694,3485,9766,95713,7004,8196,6297,69913,9425,515
Expenses4,1084,6268,8673,3574,3365,2758,4053,5375,0715,8288,8843,988
Operating Profit1,5281,4355,9019911,6401,6835,2951,2821,5581,8715,0591,527
OPM %27%24%40%23%27%24%39%27%24%24%36%28%
Other Income4744675697425606376697578959271,164912
Interest0031000800140
Depreciation350212644149178277736185226310634304
Profit before tax1,6511,6895,7951,5842,0232,0425,2191,8542,2272,4875,5842,134
Tax %25%25%26%9%25%30%24%25%25%25%25%26%
Net Profit1,2371,2624,3091,4371,5101,4403,9771,3841,6691,8674,1961,590
EPS in Rs18.4918.8664.4321.4922.5921.5359.4620.6924.9627.9162.7423.77
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales16,75817,95018,52020,00821,44522,75524,62026,92730,38130,98133,08933,785
Expenses14,28514,71915,07115,45716,53117,39719,20520,24220,63021,36023,30123,771
Operating Profit2,4743,2313,4494,5514,9145,3575,4156,6869,7529,6219,78810,014
OPM %15%18%19%23%23%24%22%25%32%31%30%30%
Other Income1,6081,0587763764233659851,6731,9232,6083,7433,897
Interest6163517836026765644322246
Depreciation8636819471,0259991,1781,1111,7851,4071,3401,3551,474
Profit before tax3,2133,5923,2433,7253,9794,2775,2256,51010,22510,86712,15212,432
Tax %38%27%39%37%28%24%3%10%25%23%25%
Net Profit2,0042,6251,9902,3282,8833,2395,0805,8287,6218,3649,1169,321
EPS in Rs27.7236.3029.7634.8243.1048.4475.9687.14113.96125.07136.30139.38
Dividend Payout %31%30%54%28%39%31%26%32%31%32%33%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth7%8%7%7%
Compounded Profit Growth16%23%16%12%
Stock Price CAGR%47%33%-4%
Return on Equity25%27%26%24%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital482362362334334334334334334334334334
Reserves16,32210,67112,1989,17711,74812,91415,07818,97923,23828,80434,64740,707
Borrowings165801,0229054,1165,927514952505166
Other Liabilities47,37045,42038,16338,04735,29835,02737,81540,89245,65251,72373,66593,288
Total Liabilities64,33956,53251,74448,46351,49654,20353,27860,25469,27680,911108,698134,395
Fixed Assets7,3666,9257,3507,5667,4597,3577,4916,7666,8346,7376,6717,293
CWIP2351,0251,3891,4621,5022,0432,0782,4731,8852,4933,0983,313
Investments5709169941,0109109911,0561,3631,4581,5911,7541,914
Other Assets56,16847,66642,01138,42541,62543,81242,65449,65359,09970,08997,176121,875
Total Assets64,33956,53251,74448,46351,49654,20353,27860,25469,27680,911108,698134,395
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-404-748-7,7001,52715,26310,1738,8308,22313,64310,906
Cash from Investing Activity3,0125975,294-1,339-1,271-12,785-5,728-6,410-10,771-8,337
Cash from Financing Activity-164-2,5402,32664-7,125-1,464-1,731-1,999-2,579-3,350
Net Cash Flow2,443-2,691-802526,867-4,0761,370-186294-781
Free Cash Flow-1,907-2,000-9,09414813,9478,6767,0546,47611,8908,438
CFO/OP20%22%-145%68%298%207%173%105%179%142%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days14410586133227191906964555545
Inventory Days1,1041,016879870881815605607527544736859
Days Payable1039164721131637696116116156116
Cash Conversion Cycle1,1451,030900931995843620580475484634788
Working Capital Days39-5741012211851411113837121301
ROCE %23%29%27%29%24%26%30%31%39%34%32%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters71.64%71.64%71.64%71.64%71.64%71.64%71.64%71.64%71.64%71.64%71.64%71.64%
FIIs12.63%12.93%12.42%11.68%11.85%12.26%12.08%11.90%12.00%10.86%10.21%9.34%
DIIs9.72%9.13%9.58%8.81%8.37%8.13%8.26%8.67%8.64%9.68%10.43%11.90%
Government0.00%0.00%0.00%0.00%0.00%0.03%0.04%0.05%0.07%0.07%0.07%0.07%
Public6.02%6.28%6.36%7.86%8.13%7.95%7.97%7.72%7.64%7.77%7.66%7.03%
No. of Shareholders4,91,9696,19,1517,14,09111,16,20412,72,49512,75,63213,52,37713,02,82012,77,74912,64,05812,91,77112,11,981

Fundamentals

Market Cap₹ 3,04,246 Cr.
Current Price₹ 4,549
Stock P/E32.6
Book Value₹ 614
ROCE32.0 %
ROE24.0 %
Dividend Yield0.99 %
Face Value₹ 5.00
Compounded Sales Growth (TTM)7%
Compounded Profit Growth (TTM)12%
Consolidated figures.
Valuation
Market capRs 307,703 Cr
Enterprise valueRs 261,572 Cr
P/E (TTM)33.01x
Price to book7.50x
Price to sales9.11x
EV / EBITDA18.80x
EV / EBIT21.03x
EV / sales7.74x
Price to cash flow28.21x
Earnings yield3.03%
Dividend yield0.98%
P/E, 3-year average29.39x
P/B, 3-year average7.10x
P/E, 5-year average20.18x
P/B, 5-year average4.91x
Profitability
Operating margin (excl. other income)29.58%
Operating margin (incl. other income)40.89%
EBITDA margin41.18%
Pre-tax margin36.80%
Net profit margin27.59%
Net margin, latest quarter28.82%
ROE23.98%
ROCE31.98%
ROA7.50%
ROE, 3-year average26.33%
ROCE, 3-year average34.93%
ROA, 3-year average8.82%
ROE, 5-year average27.08%
ROCE, 5-year average33.15%
ROA, 5-year average8.88%
Tax rate24.99%
Other income / net worth9.12%
Growth
Sales growth (latest year)6.80%
Profit growth (latest year)8.98%
Sales CAGR, 3 years7.11%
Sales CAGR, 5 years7.78%
Profit CAGR, 3 years16.08%
Profit CAGR, 5 years22.99%
Sales growth QoQ-60.44%
Profit growth QoQ-62.12%
Sales growth YoY (latest quarter)14.45%
Profit growth YoY (latest quarter)14.88%
Per share
EPS (TTM)Rs 139.38
EPS (latest year)Rs 136.30
EPS (latest quarter)Rs 23.77
EPS, 3-year averageRs 125.11
EPS, 5-year averageRs 140.31
Book value per shareRs 613.68
Sales per shareRs 505.18
Cash flow per shareRs 163.08
Free cash flow per shareRs 126.17
Dividend per share (latest year)Rs 45.00
Dividend per share, 3-year averageRs 40.00
Dividend per share, 5-year averageRs 43.00
Dividends
Dividend payout33.01%
Dividend payout, 3-year average31.90%
Dividend payout, 5-year average30.72%
Efficiency
Asset turnover0.25x
Fixed asset turnover4.54x
Inventory turnover0.49x
Inventory days740 days
Debtor days45 days
Debtors turnover8.14x
Creditor days116 days
Cash conversion cycle788 days
Working capital days301 days
Leverage
Total debtRs 66 Cr
Cash and bankRs 46,197 Cr
Net debtRs -46,131 Cr
Debt to equity0.00x
Net debt / EBITDA-3.32x
Interest coverage2129.76x
Current ratio (filing 2026-03-31)2.61x
Quick ratio (filing 2026-03-31)1.92x
Trade payables (filing 2026-03-31)Rs 4,432 Cr
Owners' fund to total sources30.54%
Debt to assets0.05%
Cash flow
Cash from Operating Activity (latest year)Rs 10,906 Cr
Cash from Investing Activity (latest year)Rs -8,337 Cr
Cash from Financing Activity (latest year)Rs -3,350 Cr
Net Cash Flow (latest year)Rs -781 Cr
Free cash flow (latest year)Rs 8,438 Cr
FCFE (approx.: FCF + change in debt)Rs 8,452 Cr
Cash from ops / profit, 5 years1.44x
Sales to cash flow3.03x
Statement figures
Net sales (TTM)Rs 33,785 Cr
Net sales (latest year)Rs 33,089 Cr
Sales (latest quarter)Rs 5,515 Cr
Operating profit excl. other income (latest year)Rs 9,788 Cr
Operating profit (latest quarter)Rs 1,527 Cr
Other income (TTM)Rs 3,897 Cr
EBITDA (TTM)Rs 13,911 Cr
PBDT (TTM)Rs 13,906 Cr
Profit before tax (TTM)Rs 12,432 Cr
Tax (latest year)Rs 3,036 Cr
Net profit (TTM)Rs 9,322 Cr
Net profit (latest year)Rs 9,116 Cr
Net profit (latest quarter)Rs 1,590 Cr
Depreciation (TTM)Rs 1,474 Cr
Depreciation (latest quarter)Rs 304 Cr
Interest (TTM)Rs 6 Cr
Cost of goods sold (latest year)Rs 16,197 Cr
Total expenditure (latest year)Rs 23,301 Cr
Total income (latest year)Rs 36,832 Cr
Share capitalRs 334 Cr
ReservesRs 40,707 Cr
Shareholders' fundsRs 41,041 Cr
Total assetsRs 134,395 Cr
Net blockRs 7,293 Cr
Capital work in progressRs 3,313 Cr
InvestmentsRs 1,914 Cr
ReceivablesRs 4,066 Cr
InventoryRs 32,831 Cr
Other liabilitiesRs 93,288 Cr
Shares outstanding (crore)66.88
Ownership
Promoter holding71.64% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 33.0 is at the 74th percentile of its own 8.7-year range (median 15.4, low 7.5, high 57.1).
P/B 7.50 is at the 70th percentile (median 3.51).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodHALNifty 50Difference
1 week-3.6%-2.8% -0.8 pts
1 month-4.3%-6.8% +2.5 pts
3 months+3.9%-7.6% +11.5 pts
6 months+31.9%+0.4% +31.5 pts
1 year-3.6%-9.9% +6.3 pts
2 years+3.7%-13.6% +17.2 pts
3 years+138.6%+14.2% +124.4 pts
5 years+587.7%+27.9% +559.9 pts
305 mutual fund schemes hold about ₹21,788 Cr. Over three months 78 bought more and 65 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
HDFC Defence Fund12.57%1,443 +7%
Motilal Oswal Nifty India Defence Index Fund21.42%1,184 +3%
ICICI Pru Large Cap Fund1.05%844 -6%
Franklin India Opportunities Fund7.68%747 +20%
SBI Arbitrage Fund1.32%624 +41%
HDFC Balanced Advantage Fund0.44%472 +5%
ICICI Pru Focused Fund2.47%443 -25%
ICICI Pru Balanced Advantage Fund(M0.57%427 -13%
Kotak Arbitrage Fund(M0.56%422 +563%
Nippon India Small Cap Fund0.50%414 +0%
Nippon India Large Cap Fund0.67%365 +33%
ICICI Pru Nifty Next 50 Index Fund3.58%363 +2%
Franklin India Flexi Cap Fund1.76%342 +36%
Nippon India Focused Fund3.81%329 +4%
ICICI Pru Multi Cap Fund1.63%318 -2%
Axis Focused Fund2.75%314 +2%
ICICI Pru Multi Cap Fund1.63%306 -2%
Aditya Birla SL Nifty India Defence Index Fund21.40%299 +3%
Franklin India Focused Equity Fund2.55%293 +56%
Invesco India Focused Fund4.43%286 -7%
ICICI Pru India Opp Fund0.74%283 -10%
Franklin India Multi Cap Fund5.36%282 +1%
Franklin India Small Cap Fund1.84%271 -6%
UTI Nifty Next 50 Index Fund3.59%271 +2%
Nippon India Growth Mid Cap Fund0.51%264 -1%

Red flags

F-score 4 of 8
lookAuditor change Auditor change 2026-09-08: Hindustan Aeronautics Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2023-04-11THE PRESIDENT OF INDIAPromotersother37,632Rs 9.30 CrOff Market
2023-03-24THE PRESIDENT OF INDIAPromoterssell1,170,357Rs 290.48 CrMarket Sale
2023-03-23THE PRESIDENT OF INDIAPromoterssell10,533,206Rs 2613.95 CrMarket Sale
2020-09-23President of IndiaPromotersother680Rs 0.06 CrOff Market
2020-08-28President of IndiaPromoterssell9,435,593Rs 909.88 CrMarket Sale
2020-08-27President of IndiaPromoterssell40,126,500Rs 4019.95 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹5,515 Cr +14.4% vs Jun 2025. Net profit ₹1,590 Cr +14.9%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-08-14Dividend - Rs 10 Per Sh
2026-02-18Interim Dividend - Rs 35 Per Share
2025-08-21Dividend - Rs 15 Per Share
2025-02-18Interim Dividend - Rs 25 Per Share
2024-08-21Dividend - Rs 13 Per Share
2024-08-21Annual General Meeting
2024-02-20Interim Dividend - Rs 22 Per Share
2023-09-28Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 5/- Per Share0.5000
2023-08-24Dividend - Rs 15 Per Share
2023-08-24Annual General Meeting
2023-03-20Interim Dividend - Rs 20 Per Share
2022-11-18Interim Dividend - Rs 20 Per Share
2022-08-19Dividend - Rs 10 Per Share
2022-08-19Annual General Meeting
2022-02-17Interim Dividend - Rs 26 Per Share
2021-11-23 Interim Dividend - Rs 14 Per Share
2021-09-22 Annual General Meeting
2021-03-05 Interim Dividend - Rs 15 Per Share
2020-12-17 Interim Dividend - Rs 15 Per Share
2020-09-22 Annual General Meeting
2020-03-23 Interim Dividend - Rs 33.25 Per Share
2019-09-09 Annual General Meeting
2019-03-28 Interim Dividend - Rs 19.80 Per Share
2018-09-24 Annual General Meeting
DateTypeWhat it says
2026-10-02AgreementsAgreements
2026-09-28Change in ManagementChange in Management
2026-09-10Director changeChange in Director(s) of the company.
2026-09-08General UpdatesGeneral Updates
2026-09-08Change in AuditorsChange in Auditors of the company.
2026-09-04UpdatesRevised Policy.
2026-08-31General UpdatesGeneral Updates
2026-08-31Shareholder meetingVoting results.
2026-08-28Shareholder meetingProceedings of Annual General Meeting held on August 28, 2026
2026-08-26Press ReleaseA press release dated August 26, 2026, titled "HAL and SafranHelicopter Engines sign final contract with SAFHAL, launchingdevelopment and production o...
2026-08-20UpdatesGeneral Updates.
2026-08-12Board meeting outcomeHindustan Aeronautics Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-05General UpdatesGeneral Updates
2026-08-04Shareholder meetingNotice of Annual General Meeting to be held on August 28, 2026
2026-07-29Change in ManagementChange in Management
2026-07-29General UpdatesGeneral Updates
2026-07-17General UpdatesGeneral Updates
2026-07-01Change in ManagementChange in Management
2026-06-29Change in AuditorsChange in Auditors of the company.
2026-06-29Record DateRecord date for the purpose of Dividend is 14-Aug-2026.
2026-06-29DividendBoard of Directors at its meeting held on Jun 29, 2026, recommended Final Dividend of Rs. 10 per equity share.
2026-06-26Change in ManagementChange in Management
2026-06-05Disclosure under SEBI TakeovHindustan Aeronautics Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India ...
2026-05-27Change in ManagementChange in Management
2026-05-22Concall / analyst meetTranscript
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.79
Max pain (expiry 2026-10-27)4,750
Largest call open interest at4,900
Largest put open interest at4,700
Implied volatility, at the money24.8%
Underlying at snapshot4,601.00
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-301,577
2026-09-2934,193
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Hindustan Aeronautics Ltd?

Hindustan Aeronautics Ltd (HAL) has a market capitalisation of Rs 3,04,246 Cr. at the 2026-10-01 close.

What is the P/E ratio of Hindustan Aeronautics Ltd?

Hindustan Aeronautics Ltd trades at a P/E of 32.6 on trailing twelve-month profit, at the 2026-10-01 close.

What were Hindustan Aeronautics Ltd's latest quarterly results?

In the Jun 2026 quarter, Hindustan Aeronautics Ltd sales was Rs 5,515 Cr (+14.4% vs Jun 2025) and net profit was Rs 1,590 Cr.

What is the 52-week high and low of Hindustan Aeronautics Ltd?

The 52-week high is Rs 5,149.90 and the 52-week low is Rs 3,479.10.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03