Want to see IN:HAL full AI Analyst Report?
Top Page
Hindustan Aeronautics Limited
(HAL)
Select Model
Select Model
Rating:78Outperform
Price Target:
₹5,619.00
▲(22.98% Upside)
Action:Reiterated
Date:05/15/26
The score is driven primarily by strong financial performance (high profitability, very low leverage, and solid cash generation), supported by a constructive technical trend with positive momentum indicators. The biggest offset is valuation, with a high P/E and only a modest dividend yield.
Positive Factors
Conservative balance sheet
Extremely low leverage and a growing equity base provide durable financial flexibility for a capital‑intensive aerospace business. This supports multi‑year program delivery, absorbs procurement timing shocks, enables investment in indigenization, and lowers refinancing risk.
Negative Factors
Recent margin pressure
A sharp gross profit decline in the most recent year despite higher revenue suggests cost inflation, adverse mix or contract pricing stress. If persistent, it can erode free cash flow and returns, constraining reinvestment and making margins more vulnerable to program cost overruns.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Extremely low leverage and a growing equity base provide durable financial flexibility for a capital‑intensive aerospace business. This supports multi‑year program delivery, absorbs procurement timing shocks, enables investment in indigenization, and lowers refinancing risk.
Read all positive factors
Hindustan Aeronautics Limited (HAL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹3.35T
Dividend Yield0.5%
Average Volume (3M)71.80K
Price to Earnings (P/E)36.1
Beta (1Y)1.43
Revenue Growth7.42%
EPS Growth12.16%
CountryIN
Employees35,566
SectorGeneral
Sector StrengthN/A
IndustryAerospace & Defense
Share Statistics
EPS (TTM)136.30
Shares Outstanding668,775,000
10 Day Avg. Volume61,424
30 Day Avg. Volume71,803
Financial Highlights & Ratios
PEG Ratio2.85
Price to Book (P/B)5.68
Price to Sales (P/S)7.05
P/FCF Ratio18.71
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹5,145.00Price Target Upside12.60% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)146.82
Revenue Forecast (FY)₹376.42B
Hindustan Aeronautics Limited Business Overview & Revenue Model
Company Description
Hindustan Aeronautics Limited (HAL) is a leading aerospace enterprise engaged in the full spectrum of activities, from the conceptualization and production of aviation assets to their comprehensive maintenance, modernization, and support. Operatin...
How the Company Makes Money
HAL makes money primarily by contracting with government defence customers (and, to a lesser extent, other customers) across the full aircraft and aerospace lifecycle—design and development, series manufacturing, and long-term product support. Key...
Hindustan Aeronautics Limited Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
84
Very Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 330.89B | 309.81B | 303.81B | 269.27B | 246.20B |
| Gross Profit | 101.76B | 179.27B | 185.38B | 160.13B | 140.40B |
| EBITDA | 135.13B | 79.94B | 82.88B | 52.87B | 44.06B |
| Net Income | 91.16B | 83.64B | 76.21B | 58.28B | 50.80B |
Balance Sheet | |||||
| Total Assets | 1.32T | 1.06T | 780.95B | 672.04B | 583.92B |
| Cash, Cash Equivalents and Short-Term Investments | 461.96B | 381.82B | 264.31B | 203.03B | 143.47B |
| Total Debt | 109.70M | 11.60M | 11.00M | 516.90M | 492.70M |
| Total Liabilities | 913.70B | 712.82B | 489.53B | 436.28B | 390.75B |
| Stockholders Equity | 410.41B | 349.82B | 291.38B | 235.72B | 193.13B |
Cash Flow | |||||
| Free Cash Flow | 124.66B | 127.13B | 73.06B | 70.48B | 85.32B |
| Operating Cash Flow | 139.51B | 136.43B | 82.23B | 88.30B | 100.33B |
| Investing Cash Flow | -113.87B | -107.71B | -64.10B | -57.28B | -127.60B |
| Financing Cash Flow | -33.45B | -25.79B | -19.99B | -17.31B | -13.49B |
Hindustan Aeronautics Limited Technical Analysis
Positive
4569.15
Price Trends
4503.59
Positive
4360.60
Positive
4347.37
Positive
Market Momentum
134.73
Negative
76.98
Negative
80.52
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HAL, the sentiment is Positive. The current price of 4569.15 is below the 20-day moving average (MA) of 4707.58, above the 50-day MA of 4503.59, and above the 200-day MA of 4347.37, indicating a bullish trend. The MACD of 134.73 indicates Negative momentum. The RSI at 76.98 is Negative, neither overbought nor oversold. The STOCH value of 80.52 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:HAL.
Hindustan Aeronautics Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹3.35T | 36.09 | ― | 1.09% | 7.42% | 12.16% | |
70 Outperform | ₹249.31B | 93.12 | ― | 0.23% | 33.81% | 24.90% | |
67 Neutral | ₹3.00T | 48.90 | ― | 0.70% | 19.83% | 11.75% | |
67 Neutral | ₹111.06B | 117.53 | ― | 0.04% | 36.61% | 47.68% | |
60 Neutral | ₹145.87B | 113.74 | ― | 0.09% | 69.08% | 59.15% | |
56 Neutral | ₹512.82B | 121.88 | ― | 0.41% | -18.69% | -7.12% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:HAL
Hindustan Aeronautics Limited
5,015.50
564.93
12.69%
IN:APOLLO
Apollo Micro Systems Ltd.
392.55
196.81
100.55%
IN:BDL
Bharat Dynamics Ltd.
1,399.00
-201.40
-12.58%
IN:BEL
Bharat Electronics Limited
410.40
30.09
7.91%
IN:DATAPATTNS
Data Patterns (India) Limited
4,453.25
1,868.73
72.30%
IN:PARAS
Paras Defence & Space Technologies Ltd.
1,378.10
702.20
103.89%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.