Hindustan Aeronautics
NSE: HALAerospace & Defense
Share price
₹4,647.40
-2.08% close of 8 Oct 2026
Business score
How strong the business is, in one number. The parts behind it are in Pro.
64
out of 100 · worked out 8 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹3.10L Cr
P/E ratio
33.3
P/B ratio
7.6
ROCE
32.0%
ROE
24.0%
Dividend yield
0.9%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Sales grew 7.4% over the past year, and 8.0% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 22.7% to 27.9% over the last four years.
Whether it grew faster than its sector
It grew 8.0% a year against a sector median of 10.6% — 2.7 percentage points slower.
Room to re-rate, or risk of de-rating
At 33.3× earnings against a market that pays 23.9× across 2199 companies we can price. Its own industry sits at 73.8×, across 5 companies. It is against its own five-year median of 30.7×, the 63rd percentile of its own range.
Whether growth justifies the valuation
Priced at 2.1 times its growth rate, on earnings growth of 16%.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Hindustan Aeronautics — this one | 16%/yr | 33.3× | ₹2.1 |
| Bharat Electronics | 27%/yr | 43.7× | ₹1.6 |
| Bharat Dynamics Limited | 6%/yr | 73.8× | ₹12.3 |
| Garden Reach Shipbuilders & Engineers Limited | 50%/yr | 28.9× | ₹0.58 |
| Data Patterns (India) Limited | 26%/yr | 84.4× | ₹3.2 |
| SIGMA ADVANCED SYSTEMS LIMITED | 228%/yr | 109.3× | — |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Aerospace & Defense), it ranks 4 of 26 on returns, 17 of 24 on growth, 5 of 26 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
A wide advantage: it earns 32% on capital, ahead of 85% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
Yes — Over the last five years it made ₹51775 crore of cash from the business, spent ₹9242 crore on plant and equipment, and returned ₹11123 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 10 years, about 122 arrived as cash (before interest, which is why it can exceed the profit). Its cash comes back more slowly than it used to: it went from being waiting 111 days for its cash to waiting 301 days for its cash.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
7 of 9 checks clear · 78%
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Revenue and earnings per share both came in above the pre-result consensus.
Announced 12 Aug 2026 · Consolidated · Audited
Revenue
₹5,515 Cr
Revenue vs last year
+14.4%
Revenue vs last quarter
-60.4%
Net profit
₹1,590 Cr
Profit vs last year
+14.9%
Profit vs last quarter
-62.1%
Net margin
28.8%
EPS
₹23.77
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹3.10L Cr
- Prev close
- ₹4,647.40
- 52w High
- ₹5,150
- 52w Low
- ₹3,479
- Enterprise value
- ₹2.65L Cr
- Beta
- 1.1
- Price CAGR 1y
- -1.0%
- Price CAGR 3y
- 35.0%
- Price CAGR 5y
- 48.0%
- Price CAGR 10y
- —
Ratios
- Return on assets
- 6.8%
- PEG ratio
- 2.1
- P/E ratio
- 33.3
- P/B ratio
- 7.6
- EV / EBITDA
- 31.8
- Industry P/E
- 83.4
- ROCE
- 32.0%
- ROCE 5y average
- 33.2%
- ROE
- 24.0%
- Debt / Equity
- 0.0
- Interest coverage
- 507.3
- Dividend yield
- 0.9%
- ROE 3y average
- 26.0%
- ROE last year
- 24.0%
Annual P&L
- Annual revenue
- ₹33,089 Cr
- Annual profit
- ₹9,116 Cr
- Operating margin
- 30.0%
- Net profit margin
- 27.5%
- EBITDA margin
- 29.6%
- Sales growth 3y
- 7.1%
- Sales growth 5y
- 7.8%
- Profit growth 3y
- 16.0%
- Profit growth 5y
- 23.0%
- EPS
- ₹136
- Sales growth TTM
- 7.0%
- Profit growth TTM
- 12.0%
- Dividend payout
- 33.0%
Quarter P&L
- Sales latest quarter
- ₹5,515 Cr
- Profit latest quarter
- ₹1,590 Cr
- YoY quarterly sales growth
- 14.4%
- YoY quarterly profit growth
- 14.9%
- OPM latest quarter
- 27.7%
Balance Sheet
- Book Value
- ₹614
- Face Value
- ₹5.0
- Total debt
- ₹66 Cr
- Total cash
- ₹46,197 Cr
- Borrowings
- ₹66 Cr
- Reserves / Equity
- 121.9
Cash Flow
- Operating cash flow
- ₹10,906 Cr
- Free cash flow
- ₹8,438 Cr
- FCF yield
- 2.7%
- Net cash flow
- -₹781 Cr
Shareholding
- Promoter holding
- 71.6%
- FII holding
- 9.3%
- DII holding
- 11.9%
- Public holding
- 7.0%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| Hind.Aeronautics | 4,746.30 | 34.0 | 3,17,421 | 0.95 | 1,589.7 | 14.9 | 5,515.2 | 14.4 | 32.0 |
| Bharat Electron | 378.30 | 45.0 | 2,76,529 | 0.66 | 1,054.5 | 8.7 | 5,547.0 | 24.9 | 36.4 |
| Bharat Dynamics | 1,085.00 | 76.4 | 39,772 | 0.45 | 118.8 | 547.4 | 572.2 | 130.8 | 13.9 |
| Garden Reach Sh. | 2,102.00 | 30.1 | 24,079 | 0.93 | 172.8 | 43.8 | 1,814.6 | 38.5 | 42.8 |
| Data Pattern | 4,233.40 | 87.7 | 23,700 | 0.24 | 22.1 | -13.5 | 116.0 | 16.8 | 21.9 |
| Sigma Advanced System | 1,091.60 | 124.7 | 20,733 | 0.00 | 35.4 | -81.9 | 374.3 | 7083.9 | 11.7 |
| Aequs | 288.15 | 19,325 | 0.00 | -53.2 | -1457.9 | 395.6 | 54.8 | 1.7 | |
| Median | 1,068.60 | 78.5 | 6,116 | 0.06 | 12.0 | 14.9 | 111.8 | 34.5 | 14.5 |
Competes with: AXISCADES Technologies Limited, Aequs Limited, Apollo Micro Systems Limited, Astra Microwave Products Limited, Avantel Limited, Bharat Dynamics Limited, Bharat Electronics, Centum Electronics Limited, Cyient DLM Limited, DCX Systems Limited, Data Patterns (India) Limited, Garden Reach Shipbuilders & Engineers Limited, Ideaforge Technology Limited, Jaykay Enterprises Limited, Kavveri Defence & Wireless Technologies Limited, Krishna Defence And Allied Industries Limited, Mishra Dhatu Nigam Limited, Mtar Technologies Limited, NIBE Limited, Paras Defence and Space Technologies Limited, Rossell Techsys Limited, SIGMA ADVANCED SYSTEMS LIMITED, Sika Interplant Systems Limited, Taneja Aerospace & Aviation Limited, Unimech Aerospace and Manufacturing Limited, Zen Technologies Limited
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,915 | 5,636 | 6,061 | 14,769 | 4,348 | 5,976 | 6,957 | 13,700 | 4,819 | 6,629 | 7,699 | 13,942 | 5,515 |
| Expenses | 3,039 | 4,108 | 4,626 | 8,867 | 3,357 | 4,336 | 5,275 | 8,405 | 3,537 | 5,071 | 5,828 | 8,884 | 3,988 |
| Material Cost | 11,547 | 3,160 | 4,069 | 4,527 | 12,114 | 2,777 | |||||||
| Change in Inventories | -6,828 | -1,725 | -1,273 | -1,116 | -5,915 | -1,030 | |||||||
| Purchases of Stock-in-Trade | 250 | 105 | 118 | 159 | 209 | 169 | |||||||
| Employee Cost | 1,811 | 1,383 | 1,334 | 1,666 | 1,725 | 1,524 | |||||||
| Other Expenses | 1,624 | 613 | 823 | 592 | 751 | 548 | |||||||
| Operating Profit | 877 | 1,528 | 1,435 | 5,901 | 991 | 1,640 | 1,683 | 5,295 | 1,282 | 1,558 | 1,871 | 5,059 | 1,527 |
| OPM % | 22 | 27 | 24 | 40 | 23 | 27 | 24 | 39 | 27 | 24 | 24 | 36 | 28 |
| Other Income | 414 | 474 | 467 | 569 | 742 | 560 | 637 | 669 | 757 | 895 | 927 | 1,164 | 912 |
| Exceptional items (within Other Income) | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Interest | 0 | 0 | 0 | 31 | 0 | 0 | 0 | 8 | 0 | 0 | 1 | 4 | 0 |
| Depreciation | 201 | 350 | 212 | 644 | 149 | 178 | 277 | 736 | 185 | 226 | 310 | 634 | 304 |
| Profit before tax | 1,089 | 1,651 | 1,689 | 5,795 | 1,584 | 2,023 | 2,042 | 5,219 | 1,854 | 2,227 | 2,487 | 5,584 | 2,134 |
| Tax % | 25 | 25 | 25 | 26 | 9 | 25 | 30 | 24 | 25 | 25 | 25 | 25 | 26 |
| Net Profit | 814 | 1,237 | 1,262 | 4,309 | 1,437 | 1,510 | 1,440 | 3,977 | 1,384 | 1,669 | 1,867 | 4,196 | 1,590 |
| EPS in Rs | 12 | 18 | 19 | 64 | 21 | 23 | 22 | 59 | 21 | 25 | 28 | 63 | 24 |
| Diluted EPS in Rs | 59 | 21 | 25 | 28 | 63 | 24 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 15,939 | 16,758 | 17,950 | 18,520 | 20,008 | 21,445 | 22,755 | 24,620 | 26,927 | 30,381 | 30,981 | 33,089 | 33,785 |
| Expenses | 13,560 | 14,285 | 14,719 | 15,071 | 15,457 | 16,531 | 17,397 | 19,205 | 20,242 | 20,630 | 21,360 | 23,301 | 23,771 |
| Material Cost | 19,234 | 23,871 | |||||||||||
| Change in Inventories | -7,626 | -10,030 | |||||||||||
| Purchases of Stock-in-Trade | 679 | 591 | |||||||||||
| Employee Cost | 5,730 | 6,108 | |||||||||||
| Other Expenses | 3,354 | 2,779 | |||||||||||
| Operating Profit | 2,379 | 2,474 | 3,231 | 3,449 | 4,551 | 4,914 | 5,357 | 5,415 | 6,686 | 9,752 | 9,621 | 9,788 | 10,014 |
| OPM % | 15 | 15 | 18 | 19 | 23 | 23 | 24 | 22 | 25 | 32 | 31 | 30 | 30 |
| Other Income | 1,650 | 1,608 | 1,058 | 776 | 376 | 423 | 365 | 985 | 1,673 | 1,923 | 2,608 | 3,743 | 3,897 |
| Exceptional items (within Other Income) | 5.89 | 0 | |||||||||||
| Interest | 15 | 6 | 16 | 35 | 178 | 360 | 267 | 65 | 64 | 43 | 22 | 24 | 6 |
| Depreciation | 822 | 863 | 681 | 947 | 1,025 | 999 | 1,178 | 1,111 | 1,785 | 1,407 | 1,340 | 1,355 | 1,474 |
| Profit before tax | 3,191 | 3,213 | 3,592 | 3,243 | 3,725 | 3,979 | 4,277 | 5,225 | 6,510 | 10,225 | 10,867 | 12,152 | 12,432 |
| Tax % | 25 | 38 | 27 | 39 | 37 | 28 | 24 | 3 | 10 | 25 | 23 | 25 | |
| Net Profit | 2,399 | 2,004 | 2,625 | 1,990 | 2,328 | 2,883 | 3,239 | 5,080 | 5,828 | 7,621 | 8,364 | 9,116 | 9,321 |
| EPS in Rs | 25 | 28 | 36 | 30 | 35 | 43 | 48 | 76 | 87 | 114 | 125 | 136 | 139 |
| Diluted EPS in Rs | 125 | 136 | |||||||||||
| Dividend Payout % | 20 | 31 | 30 | 54 | 28 | 39 | 31 | 26 | 32 | 31 | 32 | 33 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- 7%
- 5 years
- 8%
- 3 years
- 7%
- TTM
- 7%
Compounded profit growth
- 10 years
- 16%
- 5 years
- 23%
- 3 years
- 16%
- TTM
- 12%
Stock price CAGR
- 10 years
- —
- 5 years
- 48%
- 3 years
- 35%
- 1 year
- -1%
Return on equity
- 10 years
- 25%
- 5 years
- 27%
- 3 years
- 26%
- Last year
- 24%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 482 | 362 | 362 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 |
| Reserves | 16,322 | 10,671 | 12,198 | 9,177 | 11,748 | 12,914 | 15,078 | 18,979 | 23,238 | 28,804 | 34,647 | 40,707 |
| Borrowings | 165 | 80 | 1,022 | 905 | 4,116 | 5,927 | 51 | 49 | 52 | 50 | 51 | 66 |
| Other Liabilities | 47,370 | 45,420 | 38,163 | 38,047 | 35,298 | 35,027 | 37,815 | 40,892 | 45,652 | 51,723 | 73,665 | 93,288 |
| Minority Interest | 3.56 | 3.48 | ||||||||||
| Total Liabilities | 64,339 | 56,532 | 51,744 | 48,463 | 51,496 | 54,203 | 53,278 | 60,254 | 69,276 | 80,911 | 1,08,698 | 1,34,395 |
| Fixed Assets | 7,366 | 6,925 | 7,350 | 7,566 | 7,459 | 7,357 | 7,491 | 6,766 | 6,834 | 6,737 | 6,671 | 7,293 |
| CWIP | 235 | 1,025 | 1,389 | 1,462 | 1,502 | 2,043 | 2,078 | 2,473 | 1,885 | 2,493 | 3,098 | 3,313 |
| Investments | 570 | 916 | 994 | 1,010 | 910 | 991 | 1,056 | 1,363 | 1,458 | 1,591 | 1,754 | 1,914 |
| Other Assets | 56,168 | 47,666 | 42,011 | 38,425 | 41,625 | 43,812 | 42,654 | 49,653 | 59,099 | 70,089 | 97,176 | 1,21,875 |
| Total Assets | 64,339 | 56,532 | 51,744 | 48,463 | 51,496 | 54,203 | 53,278 | 60,254 | 69,276 | 80,911 | 1,08,698 | 1,34,395 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | -404 | -748 | -7,700 | 1,527 | 15,263 | 10,173 | 8,830 | 8,223 | 13,643 | 10,906 | ||
| Cash from Investing Activity | 3,012 | 597 | 5,294 | -1,339 | -1,271 | -12,785 | -5,728 | -6,410 | -10,771 | -8,337 | ||
| Cash from Financing Activity | -164 | -2,540 | 2,326 | 64 | -7,125 | -1,464 | -1,731 | -1,999 | -2,579 | -3,350 | ||
| Net Cash Flow | 2,443 | -2,691 | -80 | 252 | 6,867 | -4,076 | 1,370 | -186 | 294 | -781 | ||
| Free Cash Flow | -1,907 | -2,000 | -9,094 | 148 | 13,947 | 8,676 | 7,054 | 6,476 | 11,890 | 8,437 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 144 | 105 | 86 | 133 | 227 | 191 | 90 | 69 | 64 | 55 | 55 | 45 |
| Inventory Days | 1,104 | 1,016 | 879 | 870 | 881 | 815 | 605 | 607 | 527 | 544 | 736 | 859 |
| Days Payable | 103 | 91 | 64 | 72 | 113 | 163 | 76 | 96 | 116 | 116 | 156 | 116 |
| Cash Conversion Cycle | 1,145 | 1,030 | 900 | 931 | 995 | 843 | 620 | 580 | 475 | 484 | 634 | 788 |
| Working Capital Days | 39 | -5 | 74 | 101 | 221 | 185 | 141 | 111 | 38 | 37 | 121 | 301 |
| ROCE % | 23 | 29 | 27 | 29 | 24 | 26 | 30 | 31 | 39 | 34 | 32 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
exports as % of revenue
6.02
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
FY revenue / permanent employees + workers, same basis (calc)
93,03,770inr
2026-03-31
News
News and filings about Hindustan Aeronautics. Open one to see why it matters.
No recent news for this company.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
- AXISCADES Technologies Limited
- Aequs Limited
- Apollo Micro Systems Limited
- Astra Microwave Products Limited
- Avantel Limited
- Bharat Dynamics Limited
- Bharat Electronics
- Centum Electronics Limited
- Cyient DLM Limited
- DCX Systems Limited
- Data Patterns (India) Limited
- Garden Reach Shipbuilders & Engineers Limited
- Ideaforge Technology Limited
- Jaykay Enterprises Limited
- Kavveri Defence & Wireless Technologies Limited
- Krishna Defence And Allied Industries Limited
- Mishra Dhatu Nigam Limited
- Mtar Technologies Limited
- NIBE Limited
- Paras Defence and Space Technologies Limited
- Rossell Techsys Limited
- SIGMA ADVANCED SYSTEMS LIMITED
- Sika Interplant Systems Limited
- Taneja Aerospace & Aviation Limited
- Unimech Aerospace and Manufacturing Limited
- Zen Technologies Limited
Uses as raw material
- Aero Forgings
- Aerospace Alloys
- Avionics Components
- Nickel Superalloys
- Special Steel
- Titanium Alloys
Depends on the price of
- aluminium
- steel
Buys from
- ACS Technologies Limited · integrated data centres and IT infrastructure; listed under Government Sector Clients on a…
- AXISCADES Technologies Limited · avionics, Mission Computer & Smart Multifunction Display for LCA Tejas Mk1A; avionics for…
- Ace Integrated Solutions Limited · Recruitment/examination-conduction and BIM-CAD services
- Apollo Micro Systems Limited · avionics, aerospace/defence electronic systems and components
- Astra Microwave Products Limited · Airborne radar and avionics RF subsystems
- BEML Limited · Defence ground-support / mobility equipment
- Centum Electronics Limited · AESA radar systems, defence & aerospace electronics modules/LRUs
- DCX Systems Limited · airborne equipment / electronic assemblies
- Data Patterns (India) Limited · avionics, electronic warfare and cockpit systems for LCA, Su-30, AMCA programs
- Dynamatic Technologies Limited · major airframe/control-surface structures for Sukhoi Su-30MKI; support on LCA Tejas and HJ…
- Goodluck India Limited · defence & aerospace forgings / components
- HFCL Limited · Defence/aerospace electronics components (HFCL HAL Best Supplier Award)
- MRF Limited · indigenous aircraft tyres (e.g. Su-30 MKI)
- Macpower CNC Machines Limited · CNC/VMC machines for aerospace machining (incl. Chandrayaan programme)
- Mishra Dhatu Nigam Limited · superalloys, titanium alloys, special steels for aero engines & airframes (~INR600cr order…
- Mtar Technologies Limited · aerospace/defence precision-engineered components
- PTC Industries Limited · Mission-critical aerospace and defence components / aviation-grade raw materials
- Paras Defence and Space Technologies Limited · aerospace/defence optics, electronics and precision engineering components
- Power & Instrumentation (Gujarat) Limited · electrical EPC / substation works; FY25 AR Govt Public Sector Units: 'Collaborated on proj…
- Raymond Limited · aerospace & defence precision components (Indian aerospace collaboration)
- Rossell Techsys Limited · wire harnesses / EWIS / panel assemblies
- SIGMA ADVANCED SYSTEMS LIMITED · avionics, onboard flight-data acquisition and embedded electronics for Su-30, Hawk-132 and…
- Shanthi Gears Limited · aerospace/defence gears (AS9100D, DGQA, NADCAP)
- Sika Interplant Systems Limited · SAR/medevac & systems integration (MoU); A&D platforms
- Sundram Fasteners Limited · aerospace and defence precision components / fasteners
- Tata Elxsi Limited · CATS Warrior UCAV airframe assembly design, fuselage assembly jigs, landing gear & electri…
- Tiger Logistics (India) Limited · logistics project services
- UMIYA BUILDCON LIMITED · MPLS-based networking solution with OmniEye NMS
- Walchandnagar Industries Limited · Aerospace structural & propulsion components
- Wendt (India) Limited · Super abrasive tools for aerospace turbine & aerostructure components
Sells to
- Ministry of Defence · Aircraft, helicopters & aero-engines (LCA Tejas, LCH, Su-30MKI, AL-31FP)
Goods carried by
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Capital Goods
- Industry
- Aerospace & Defense
- Classification
- Capital Goods › Aerospace & Defense
- ISIN
- INE066F01020
Plants
- HAL Bangalore Complex
- HAL Hyderabad · Hyderabad, Telangana
- HAL Koraput · Koraput, Odisha
- HAL Korwa
- HAL Lucknow · Lucknow, Uttar Pradesh
- HAL Nashik · Nashik, Maharashtra
- HAL Tumakuru Helicopter Plant
News impact
Big market events that reach Hindustan Aeronautics, and how the effect spreads.
30 Sept, 16:07 IST · Market event · high impact
Kotak MF, Abakkus lead ₹830-cr buying in Axiscades stake sale; stock jumps over 7%
Big funds bought Rs 830 crore of Axiscades shares at Rs 1,824, lifting the stock over 7% and helping Axiscades holders, with no real gain or pain for rival defence firms.
Who it hits first
- Axiscades Technologies Limited, a Capital Goods engineering company that supplies parts to Bharat Electronics and Hindustan Aeronautics, saw large funds buy about Rs 830 crore of its shares at Rs 1,824 each.
- Its stock jumped over 7% as the market read buying by Kotak Mutual Fund and Abakkus as a strong vote of confidence.
- The trade moves existing shares between sellers and new fund owners, so the company gets no new cash or orders, only a higher price and stronger holders.
Who may gain
- Existing Axiscades shareholders, whose holdings rose over 7% on the fund buying.
- The sellers in the stake sale, who could sell a large Rs 830 crore block at Rs 1,824 without crashing the price.
- Kotak Mutual Fund and Abakkus, who built a large position in one go at a fixed price.
Along the supply chain
Downstream
No downstream impact — customers Bharat Electronics and Hindustan Aeronautics keep buying as before, since the share sale does not change what Axiscades makes or delivers.
Upstream
No upstream impact — suppliers of parts and materials see no new orders because this was a trade in existing Axiscades shares, not new production.
Where demand moves
Business
No new business demand — no fresh orders or contracts for Axiscades or its rivals; factories and order books are unchanged, only share ownership changed.
Capital
Strong capital demand for Axiscades shares — about Rs 830 crore of fund money flowed into the stock at Rs 1,824, lifting the price over 7% and tightening shares available for sale.
How it spreads across sectors
Capital Goods
Light positive mood for small defence engineering peers like Data Patterns and Apollo, but no new orders, so any lift fades fast.
Information Technology
No real readthrough — Axiscades is a Capital Goods supplier despite the tag, so software and IT services firms see no change.
When it plays out
Immediate
Axiscades stays firm near Rs 1,824 with heavy trading as the market digests the Rs 830 crore block and the over 7% jump; peers stay flat.
Medium term
Price follows earnings and order wins, not the block deal; the stake sale matters only as proof that big funds back the story.
Short term
Axiscades drifts on overall market mood and results, with the fund holding acting as a floor; no follow-on orders expected for rivals.
30 Sept, 15:33 IST · Market event · high impact
Re-rating on cards for HAL shares as Tejas Mk1A aircraft deliveries near: Jefferies
HAL will deliver 10 Tejas fighter jets this year instead of 5, prompting Jefferies to keep its Buy call, which helps HAL and its parts suppliers while leaving rivals and telecom lookalikes untouched.
Who it hits first
- Hindustan Aeronautics, the state-run company that builds the Tejas fighter jet, is nearing Tejas Mk1A deliveries that make up 43% of its order book.
- Its chief now expects to deliver 10 jets this year, double the 5 that Jefferies had earlier pencilled in.
- Brokerage Jefferies kept its Buy rating with a Rs 6,800 target, calling rising delivery visibility a trigger for the shares to be re-rated.
Who may gain
- Hindustan Aeronautics (fighter-jet maker) — turns 43% of its order book into sales as 10 Tejas jets deliver this year
- HAL's jet parts suppliers (electronics, radar, special-metal, and precision-parts makers) — faster component orders as output doubles
- Defence investors broadly — a marquee deliveryhitting its guide lifts mood across the sector (sentiment only)
Along the supply chain
Downstream
Downstream (buyers of the jet): the Indian Air Force gets its fighters sooner, which strengthens squadrons, but no listed company sits on this side so no stock moves.
Upstream
Upstream (parts for the jet): electronics, radar, special-alloy, and precision-parts suppliers to HAL should see faster orders as jet output doubles from 5 to 10; telecom-gear firms with similar names are not part of this chain.
Where demand moves
Business
Business demand flows to HAL first, since each delivered Tejas jet converts order book into sales, and then to its jet parts suppliers as output doubles from 5 toward 10 aircraft. Rival jet makers win nothing, and telecom firms that share the Tejas name sit outside this demand chain entirely.
Capital
Investor money should rotate into HAL on Jefferies' repeated Buy call and Rs 6,800 target, with lighter sympathy flows into its listed suppliers. Broader defence peers may catch a mild sentiment bid, while mistaken-identity buying in telecom lookalikes should fade fast.
How it spreads across sectors
Capital Goods
HAL hitting its jet guide lifts the defence corner of the sector and pulls supplier orders forward, supporting sentiment for peers.
Telecommunication
No ripple at all — Tejas Networks only shares the jet's name and sells telecom gear, so HAL's news does not travel there.
When it plays out
Immediate
1–7 days: HAL shares firm on the doubled delivery guide and Jefferies' Buy repeat; suppliers tick up while telecom lookalikes stay flat.
Medium term
1–6 months: each confirmed jet handover converts more of the 43% order-book share into reported sales, deciding whether the re-rating sticks.
Short term
1–4 weeks: investors watch for delivery milestones and engine-supply updates that confirm the 10-jet guide is on track.
24 Sept, 11:38 IST · Market event · high impact
Avantel shares rise 9% after Rs 177 crore satellite communication order from Zetwerk
Avantel won a Rs 177.35 crore Zetwerk order for satellite gear through March 2027, helping Avantel's sales while rival makers see no gain.
Who it hits first
- Avantel, which makes telecom and defence electronics, won a Rs 177.35 crore purchase order from Zetwerk Manufacturing Businesses for satellite communication equipment.
- The work runs to March 2027 and lifts sales visibility after strong Q1 FY27, sending shares up 8-9%.
- Rival equipment makers won none of this order, so they see no sales gain.
Who may gain
- Avantel gains about Rs 177.35 crore of confirmed domestic manufacturing work through March 2027.
- Zetwerk secures home-made satellite communication gear for its own delivery needs.
- Short-term Avantel shareholders benefit from the 8-9% price jump on the news.
Along the supply chain
Downstream
Downstream, Zetwerk receives the satcom equipment, while Avantel's listed customers Bharat Electronics and Larsen & Toubro see no change from this separate deal.
Upstream
No named parts suppliers for Avantel appear in the pack, so no upstream vendor books work from this order yet.
Where demand moves
Business
New equipment demand flows to Avantel's factory as it builds satcom gear for Zetwerk; rivals book nothing from this tender.
Capital
Buyers chased Avantel shares up 8-9% on the order, while peer defence names see only light sympathy buying without fresh inflows.
How it spreads across sectors
Defence
Mild positive mood as a Rs 177 crore satcom order confirms defence electronics demand, but no sales spread to peers.
Telecom
Little effect — the gear is satellite communication equipment for one buyer, not a telecom network rollout.
When it plays out
Immediate
1–7 days: Avantel stays bid after the 8-9% jump as the Rs 177.35 crore order sinks in; peers drift flat.
Medium term
1–6 months: revenue builds as Avantel executes; re-rating needs more wins beyond this one order.
Short term
1–4 weeks: focus shifts to execution timeline to March 2027 and margins; no follow-on orders yet.
15 Sept, 05:00 IST · Market event · medium impact
India, Vietnam to expand defence ties via joint production of military hardware
India and Vietnam plan to build weapons together — a small positive for defence companies like HAL and BEL that could win export orders.
Who it hits first
- HAL, BEL, Mazdock, BDL and Cochin Shipyard gain Vietnam export optionality across air, sea and electronics.
- Export orders carry better margins and diversify books beyond domestic nomination.
- Near-term numbers unchanged — talks precede orders by years.
Who may gain
- HAL (aircraft) and BEL (electronics) most aligned to Vietnam stated needs.
Along the supply chain
Downstream
Vietnam armed forces get diversified supply; Indian services share training and doctrine.
Upstream
Defence MSME suppliers (forgings, electronics, composites) gain future order visibility.
Where demand moves
Business
Vietnam defence budgets flow to joint-production lines over years; Indian private suppliers follow DPSU primes.
Capital
Money nibbles defence primes on export narrative; private defence suppliers ride coattails.
How it spreads across sectors
Capital Goods
Defence sub-segment positive on export narrative; private players (Data Patterns, MTar) follow.
When it plays out
Immediate
Defence primes firm 1-3% on headline sentiment.
Medium term
Actual RFPs and orders over 1-3 years convert narrative to numbers.
Short term
MoUs and working-group outcomes show whether talks have teeth.
13 Sept, 04:28 IST · Market event · high impact
Adani Defence in Rs 1,800 cr Verba missile deal; HAL, BDL deepen Russia co-production
Adani's defence arm won missile orders and teamed with Russia to build air-defence weapons in India, alongside HAL and Bharat Dynamics — good for defence makers and their suppliers.
Who it hits first
- Adani Defence (ADANIENT): Rs 1,800 cr Verba nomination plus six Igla-S contracts — concrete order wins
- BDL: long-range air-to-air missile contract with Russian tech transfer
- HAL: Su-30MKI upgrade lead with Russian consultancy; Prachand fuselage line
Who may gain
- HAL, BDL direct; BEL mixed (budgets up, new rival in); subsystem suppliers (Data Patterns, Astra, Paras, Zen, MTAR, Cyient DLM, BEML, Premier Explosives)
Along the supply chain
Downstream
Armed forces get indigenous air-defence cover faster via emergency and single-vendor routes.
Upstream
Russian tech-transfer inputs plus domestic subsystems (RF, optics, explosives, simulators) ramp.
Where demand moves
Business
Missile and upgrade orders flow from forces to primes (HAL/BDL/Adani) then to subsystem and explosives suppliers.
Capital
Defence multiples extend on order visibility; PSU incumbents vs private disruptor positioning debated.
How it spreads across sectors
Capital Goods
defence primes and suppliers bid up 1-4% on order visibility
Metals & Mining
Adani Enterprises mildly positive — defence small vs group scale
When it plays out
Immediate
Defence names pop 1-4% on order headlines
Medium term
Execution and indigenisation pace decide multi-year compounding
Short term
Verba contract signing and Pantsir MoU watch
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 14 Aug 2026 | unspecified | ₹10 |
|---|---|---|
| 18 Feb 2026 | interim | ₹35 |
| 21 Aug 2025 | unspecified | ₹15 |
| 18 Feb 2025 | interim | ₹25 |
| 21 Aug 2024 | unspecified | ₹13 |
| 20 Feb 2024 | interim | ₹22 |
| 28 Sep 2023 | split | ₹0 |
| 24 Aug 2023 | unspecified | ₹15 |
Splits, bonuses & buybacks
- daily-prices repair: 8 rows from NSE's archive (replace 1, delete 1, insert 6), 2020-02-01..2026-02-01 (docs/flat_day_repair.md)1× · 1 Feb 2020
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Annual report · 2025-264 Aug 2026
- Earnings call · Q4FY2615 May 2026
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.