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Swing Capital

Hindustan Aeronautics Ltd

NSE: HAL BSE: 541154

Hindustan Aeronautics is engaged in the business of Manufacture of Aircraft and Helicopters and Repair, Maintenance of Aircraft and Helicopters.(Source : 2002-2003 Annual Report Page No:46)

₹4,283
52W: ₹3479 — ₹5159
PE 31.6 · Book ₹611 · +601% vs book
Market Cap₹2,86,433 Cr
Stock P/E31.6Price to Earnings
ROCE32%Return on Capital
ROE24%Return on Equity
Div. Yield0.93%Face Value ₹5

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Company has a good return on equity (ROE) track record: 3 Years ROE 26.0%
  • +Company has been maintaining a healthy dividend payout of 29.6%

Weaknesses

  • −The company has delivered a poor sales growth of 7.66% over past five years.
  • −Earnings include an other income of Rs.3,704 Cr.
  • −Working capital days have increased from 146 days to 279 days

Shareholding Pattern

Promoters71.64%
FIIs10.21%
DIIs10.43%
Public7.66%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters71.64%71.64%71.64%71.64%71.64%71.64%71.64%71.64%
FIIs11.68%11.85%▲0.212.26%▲0.412.08%▼0.211.9%▼0.212%▲0.110.86%▼1.110.21%▼0.6
DIIs8.81%8.37%▼0.48.13%▼0.28.26%▲0.18.67%▲0.48.64%▼0.09.68%▲1.010.43%▲0.8
Public7.86%8.13%▲0.37.95%▼0.27.97%▲0.07.72%▼0.37.64%▼0.17.77%▲0.17.66%▼0.1

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales6,06114,7694,3485,9776,95713,7004,8196,6287,69913,943
Expenses4,6278,8723,3544,3465,2768,4083,5355,0715,8308,885
Operating Profit1,4345,8969941,6301,6815,2921,2841,5571,8695,058
OPM %24%40%23%27%24%39%27%23%24%36%
Net Profit1,2544,2921,4361,4901,4333,9581,3771,6631,8524,184
EPS ₹18.7464.1821.4722.2821.4259.1920.5924.8627.6962.57

AI Insights

Revenue Trend

Mar 2026 revenue at ₹33,090Cr, up 6.8% YoY. OPM at 30%.

Debt Position

Borrowings at ₹10Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Capex Cycle

CWIP at ₹1,026Cr (11% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 10.43% (-0.21pp change). FIIs: 10.21% (-1.69pp change). Promoters hold 71.64%.

Margin & Efficiency

ROCE improving from 20% (Mar 2015) to 32% (Mar 2026). Working capital days: 279.

Valuation

PE 31.6x with 32% ROCE. Price is 601% above book value of ₹611. Dividend yield: 0.93%.

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