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Swing Capital

Honeywell Automation India Ltd

NSE: HONAUT BSE: 517174

Honeywell Automation India Limited (HAIL)was started in the year 1987 as a JV between Tata and Honeywell. It was known as Tata Honeywell Limited each holding 39.54% stake. Later in 2004 Honeywell Asia Pacific Inc. bought Tata's stake and the name was changed to Honeywell Automation India Limited. [1]

₹28,509
52W: ₹26220 — ₹41600
PE 49.2 · Book ₹4738 · +502% vs book
Market Cap₹25,202 Cr
Stock P/E49.2Price to Earnings
ROCE18.4%Return on Capital
ROE13.7%Return on Equity
Div. Yield0.36%Face Value ₹10

Strengths

  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 18.1%

Weaknesses

  • −The company has delivered a poor sales growth of 4.95% over past five years.

Shareholding Pattern

Promoters75%
FIIs3.74%
DIIs11.28%
Public9.96%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters75%75%75%75%75%75%75%75%
FIIs2.72%2.68%▼0.02.5%▼0.22.6%▲0.12.76%▲0.23%▲0.23.46%▲0.53.74%▲0.3
DIIs12.4%12.54%▲0.112.51%▼0.012.35%▼0.212.15%▼0.211.99%▼0.211.53%▼0.511.28%▼0.3
Public9.87%9.78%▼0.19.98%▲0.210.05%▲0.110.06%▲0.010%▼0.19.98%▼0.09.96%▼0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales1,1041,0719519601,0241,0911,1141,1831,1491,169
Expenses9669107818068959499551,0421,0181,021
Operating Profit138161170154129142159142132148
OPM %13%15%18%16%13%13%14%12%11%13%
Net Profit122128148136115132140125120121
EPS ₹137.87144.66167.62154.39130.18149.41158.23140.93135.16137.08

AI Insights

Revenue Trend

TTM revenue at ₹4,616Cr, up 10.2% YoY. OPM at 13%.

Debt Position

Borrowings at ₹93Cr. Debt-to-equity ratio: 0.02x. Healthy balance sheet.

Capex Cycle

CWIP at ₹6Cr (3% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 11.28% (-1.16pp change). FIIs: 3.74% (+0.80pp change). Promoters hold 75%.

Margin & Efficiency

ROCE improving from 17% (Dec 2013) to 18% (Mar 2025). Working capital days: 39.

Valuation

PE 49.2x with 18.4% ROCE. Price is 502% above book value of ₹4,738. Dividend yield: 0.36%.

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