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Last Updated: April 2, 2026, 3:02 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 541154 | NSE: HAL

Hindustan Aeronautics Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹3,220.89Overvalued by 12.26%vs CMP ₹3,671.00

P/E (27.7) × ROE (26.0%) × BV (₹553.00) × DY (1.09%)

₹1,770.07Overvalued by 51.78%vs CMP ₹3,671.00
MoS: -107.4% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹3,598.2222%Fair (-2%)
Graham NumberEarnings₹1,283.1716%Over (-65%)
Earnings PowerEarnings₹924.2111%Over (-74.8%)
DCFCash Flow₹2,355.1313%Over (-35.8%)
Net Asset ValueAssets₹552.717%Over (-84.9%)
EV/EBITDAEnterprise₹1,309.769%Over (-64.3%)
Earnings YieldEarnings₹1,323.307%Over (-64%)
ROCE CapitalReturns₹789.239%Over (-78.5%)
Revenue MultipleRevenue₹463.285%Over (-87.4%)
Consensus (9 models)₹1,770.07100%Overvalued
Key Drivers: Wide model spread (₹463–₹3,598) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 11.7%

*Investments are subject to market risks

Investment Snapshot

65
Hindustan Aeronautics Ltd scores 65/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health92/100 · Strong
ROCE 33.9% ExcellentROE 26.0% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -1.22% (6mo) SellingDII holding up 1.42% MF buyingPromoter holding at 71.6% Stable
Earnings Quality55/100 · Moderate
OPM expanding (24% → 32%) ImprovingWorking capital: 121 days Capital intensive
Quarterly Momentum30/100 · Weak
Revenue (4Q): 3% YoY FlatProfit (4Q): 0% YoY DecliningOPM: 23.0% (down 4.0% YoY) Margin pressure
Industry Rank85/100 · Strong
P/E 27.7 vs industry 66.4 Cheaper than peersROCE 33.9% vs industry 22.6% Above peersROE 26.0% vs industry 16.7% Above peers3Y sales CAGR: 8% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:02 am

Market Cap 2,45,494 Cr.
Current Price 3,671
Intrinsic Value₹1,770.07
High / Low 5,166/3,479
Stock P/E27.7
Book Value 553
Dividend Yield1.09 %
ROCE33.9 %
ROE26.0 %
Face Value 5.00
PEG Ratio2.36

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Hindustan Aeronautics Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Hindustan Aeronautics Ltd 2,45,494 Cr. 3,671 5,166/3,47927.7 5531.09 %33.9 %26.0 % 5.00
Bharat Electronics Ltd 3,06,060 Cr. 419 473/25251.3 29.50.57 %38.9 %29.2 % 1.00
Bharat Dynamics Ltd 44,118 Cr. 1,204 2,097/1,08676.1 1150.39 %19.7 %14.4 % 5.00
Garden Reach Shipbuilders & Engineers Ltd 27,026 Cr. 2,359 3,538/1,36639.2 2000.59 %36.6 %27.6 % 10.0
Data Patterns (India) Ltd 17,398 Cr. 3,108 3,610/1,37369.8 2750.25 %21.0 %15.2 % 2.00
Industry Average62,347.73 Cr1,600.6466.40177.440.31%22.58%16.73%4.00

All Competitor Stocks of Hindustan Aeronautics Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 5,1455,66612,4953,9155,6366,06114,7694,3485,9776,95713,7004,8196,628
Expenses 3,5354,6809,2523,0364,1074,6278,8723,3544,3465,2768,4083,5355,071
Operating Profit 1,6109863,2428801,5291,4345,8969941,6301,6815,2921,2841,557
OPM % 31%17%26%22%27%24%40%23%27%24%39%27%23%
Other Income 261497722411471460557738550631653749889
Interest 025500031000800
Depreciation 2522691,055201349212644149177277736185225
Profit before tax 1,6191,2122,8541,0891,6501,6815,7781,5822,0032,0355,2001,8482,220
Tax % 25%5%0%25%25%25%26%9%26%30%24%25%25%
Net Profit 1,2091,1542,8418141,2351,2544,2921,4361,4901,4333,9581,3771,663
EPS in Rs 18.0817.2542.4812.1718.4718.7464.1821.4722.2821.4259.1920.5924.86

Last Updated: January 1, 2026, 11:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 9:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 15,13515,73016,75817,95018,51920,00821,43822,88224,62026,92830,38130,98132,846
Expenses 13,56513,37914,28114,71415,05915,44016,56517,54119,20020,25820,63121,37122,844
Operating Profit 1,5702,3512,4783,2363,4604,5694,8735,3415,4206,6699,7499,61010,002
OPM % 10%15%15%18%19%23%23%23%22%25%32%31%30%
Other Income 2,6181,6421,5981,0447613764123609861,6721,8992,5713,204
Interest 815616351773592676564432210
Depreciation 6038068636819471,0249981,1571,1101,7841,4061,3401,456
Profit before tax 3,5783,1733,2073,5833,2403,7423,9284,2775,2316,49310,19910,82011,740
Tax % 25%25%38%27%39%37%28%24%3%10%26%23%
Net Profit 2,6932,3881,9982,6161,9872,3462,8323,2395,0865,8117,5958,3178,850
EPS in Rs 27.9324.7727.6336.1829.7235.0842.3548.4476.0586.89113.57124.36132.33
Dividend Payout % 33%20%31%31%54%28%39%31%26%32%31%32%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-11.33%-16.33%30.93%-24.04%18.07%20.72%14.37%57.02%14.25%30.70%9.51%
Change in YoY Net Profit Growth (%)0.00%-5.01%47.26%-54.98%42.11%2.65%-6.34%42.65%-42.77%16.45%-21.19%

Hindustan Aeronautics Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:8%
3 Years:8%
TTM:2%
Compounded Profit Growth
10 Years:13%
5 Years:25%
3 Years:18%
TTM:0%
Stock Price CAGR
10 Years:%
5 Years:58%
3 Years:55%
1 Year:-7%
Return on Equity
10 Years:24%
5 Years:27%
3 Years:27%
Last Year:26%

Last Updated: September 5, 2025, 6:15 am

Balance Sheet

Last Updated: December 10, 2025, 2:48 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 482482362362334334334334334334334334334
Reserves 14,53316,30410,65812,1759,15111,74112,85615,03418,93023,17228,71234,50836,628
Borrowings 6845801,0229054,1575,816534951495111
Other Liabilities 48,18047,25245,42038,14938,04435,23835,12037,60140,87145,63251,70473,65186,005
Total Liabilities 63,87864,04256,51951,70848,43451,47054,12553,02260,18369,19080,799108,545122,979
Fixed Assets 2,0887,1916,9257,3507,5667,4547,3517,1586,7586,8276,7306,6639,055
CWIP 1852161,0251,3891,4581,4992,0401,9482,4721,8842,4923,0981,112
Investments 7077458869819899029401,0551,2941,3851,4971,6271,627
Other Assets 60,89855,89047,68241,98838,42141,61543,79442,86149,65959,09370,08097,156111,184
Total Assets 63,87864,04256,51951,70848,43451,47054,12553,02260,18369,19080,799108,545122,979

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -423-734-7,6941,64815,12410,0408,8368,22613,645
Cash from Investing Activity + 3,0215945,292-1,324-1,190-12,763-5,734-6,412-10,774
Cash from Financing Activity + -164-2,5402,321-57-7,070-1,349-1,731-1,999-2,579
Net Cash Flow 2,433-2,680-802666,864-4,0721,370-185293
Free Cash Flow -1,925-1,982-9,08226913,9188,5437,0596,47911,892
CFO/OP 19%22%-144%71%300%205%174%105%179%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-683.00-3.00-78.002.00-902.000.00-1.00-48.00-44.00-45.00-40.00-42.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 166145105861332271919069645555
Inventory Days 9711,1181,017854838882815602608527544735
Days Payable 901019162691131647696116116156
Cash Conversion Cycle 1,0461,1621,032878902996843617581475484634
Working Capital Days -68-22-5741022211851461113837121
ROCE %25%20%23%29%27%29%24%26%30%31%39%34%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 71.65%71.64%71.64%71.64%71.64%71.64%71.64%71.64%71.64%71.64%71.64%71.64%
FIIs 9.07%11.90%12.63%12.93%12.42%11.68%11.85%12.26%12.08%11.90%12.00%10.86%
DIIs 13.93%10.64%9.72%9.13%9.58%8.81%8.37%8.13%8.26%8.67%8.64%9.68%
Government 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.03%0.04%0.05%0.07%0.07%
Public 5.34%5.81%6.02%6.28%6.36%7.86%8.13%7.95%7.97%7.72%7.64%7.77%
No. of Shareholders 3,58,3174,20,6944,91,9696,19,1517,14,09111,16,20412,72,49512,75,63213,52,37713,02,82012,77,74912,64,058

Shareholding Pattern Chart

No. of Shareholders

Hindustan Aeronautics Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Defence Fund 2,300,497 13.63 1062.69N/AN/AN/A
ICICI Prudential Large Cap Fund 1,619,675 0.98 748.191,580,0442026-02-23 00:10:202.51%
HDFC Balanced Advantage Fund 983,882 0.43 454.49985,6822026-02-23 00:10:20-0.18%
ICICI Prudential Focused Equity Fund 955,016 2.95 441.16970,5172026-02-23 00:10:20-1.6%
Nippon India Small Cap Fund 862,972 0.61 398.641,477,0762025-12-08 07:42:13-41.58%
Axis Focused Fund 807,690 3.28 373.1870,4592026-01-25 18:05:56-7.21%
Motilal Oswal Large and Midcap Fund 800,044 2.53 369.57833,2322026-02-23 00:10:20-3.98%
ICICI Prudential Multicap Fund 645,553 1.88 298.21N/AN/AN/A
HDFC Manufacturing Fund 591,000 2.64 273.01N/AN/AN/A
Tata Arbitrage Fund 555,750 1.25 256.72579,0002026-02-23 00:10:20-4.02%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 5.005.0010.0010.0010.00
Basic EPS (Rs.) 125.07113.95174.28151.9296.87
Diluted EPS (Rs.) 125.07113.95174.28151.9296.87
Cash EPS (Rs.) 144.50134.60245.43190.41131.96
Book Value[Excl.RevalReserv]/Share (Rs.) 523.07435.75705.04577.67461.02
Book Value[Incl.RevalReserv]/Share (Rs.) 523.07435.75705.04577.67461.02
Revenue From Operations / Share (Rs.) 463.25454.28805.27736.27680.48
PBDIT / Share (Rs.) 181.97174.01267.55196.47170.69
PBIT / Share (Rs.) 161.93152.97196.32157.99135.45
PBT / Share (Rs.) 161.89152.49194.58156.25127.76
Net Profit / Share (Rs.) 124.46113.56174.19151.9296.72
NP After MI And SOA / Share (Rs.) 125.07113.95174.28151.9296.88
PBDIT Margin (%) 39.2838.3033.2226.6825.08
PBIT Margin (%) 34.9533.6724.3721.4519.90
PBT Margin (%) 34.9433.5624.1621.2218.77
Net Profit Margin (%) 26.8624.9921.6320.6314.21
NP After MI And SOA Margin (%) 26.9925.0821.6420.6314.23
Return on Networth / Equity (%) 23.9126.1524.7226.3021.01
Return on Capital Employeed (%) 17.4124.4918.0415.8317.13
Return On Assets (%) 7.879.758.678.696.23
Asset Turnover Ratio (%) 0.330.410.420.440.43
Current Ratio (X) 2.041.731.681.801.57
Quick Ratio (X) 1.551.371.291.220.92
Inventory Turnover Ratio (X) 1.780.970.750.560.43
Dividend Payout Ratio (NP) (%) 30.3825.8828.6826.3230.96
Dividend Payout Ratio (CP) (%) 26.1821.8520.3621.0022.70
Earning Retention Ratio (%) 69.6274.1271.3273.6869.04
Cash Earning Retention Ratio (%) 73.8278.1579.6479.0077.30
Interest Coverage Ratio (X) 1402.05362.43154.33112.8922.02
Interest Coverage Ratio (Post Tax) (X) 959.24237.51101.4888.2913.47
Enterprise Value (Cr.) 241103.84196091.8670983.9635383.1726102.42
EV / Net Operating Revenue (X) 7.786.452.641.441.15
EV / EBITDA (X) 19.8116.857.935.394.57
MarketCap / Net Operating Revenue (X) 9.017.323.392.021.46
Retention Ratios (%) 69.6174.1171.3173.6769.03
Price / BV (X) 7.987.643.872.572.16
Price / Net Operating Revenue (X) 9.017.323.392.021.46
EarningsYield 0.020.030.060.100.09

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Hindustan Aeronautics Ltd. is a Public Limited Listed company incorporated on 16/08/1963 and has its registered office in the State of Karnataka, India. Company's Corporate Identification Number(CIN) is L35301KA1963GOI001622 and registration number is 001622. Currently Company is involved in the business activities of Repair of transport equipment, except motor vehicles. Company's Total Operating Revenue is Rs. 30980.92 Cr. and Equity Capital is Rs. 334.39 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Aerospace & DefenseNo: 15/1, Cubbon Road, Bengaluru Karnataka 560001Contact not found
Management
NamePosition Held
Dr. D K SunilChairman & Managing Director
Mr. Barenya SenapatiDirector - Finance & CFO
Mr. K RaviDirector - Operations
Mr. M G BalasubrahmanyaDirector - Human Resources
Mr. Ajay Kumar ShrivastavaDirector - Engineering & R&D
CA. Rakesh BhawsarIndependent Director
Dr. S D PremkumarIndependent Director
Ms. Manisha ChandraGovernment Nominee Director
Dr. Rajalakshmi MenonGovernment Nominee Director

FAQ

What is the intrinsic value of Hindustan Aeronautics Ltd and is it undervalued?

As of 13 April 2026, Hindustan Aeronautics Ltd's intrinsic value is ₹1770.07, which is 51.78% lower than the current market price of ₹3,671.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (26.0 %), book value (₹553), dividend yield (1.09 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Hindustan Aeronautics Ltd?

Hindustan Aeronautics Ltd is trading at ₹3,671.00 as of 13 April 2026, with a FY2026-2027 high of ₹5,166 and low of ₹3,479. The stock is currently near its 52-week low. Market cap stands at ₹2,45,494 Cr..

How does Hindustan Aeronautics Ltd's P/E ratio compare to its industry?

Hindustan Aeronautics Ltd has a P/E ratio of 27.7, which is below the industry average of 66.40. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is Hindustan Aeronautics Ltd financially healthy?

Key indicators for Hindustan Aeronautics Ltd: ROCE of 33.9 % indicates efficient capital utilization; ROE of 26.0 % shows strong shareholder returns. Dividend yield is 1.09 %.

Is Hindustan Aeronautics Ltd profitable and how is the profit trend?

Hindustan Aeronautics Ltd reported a net profit of ₹8,317 Cr in Mar 2025 on revenue of ₹30,981 Cr. Compared to ₹5,086 Cr in Mar 2022, the net profit shows an improving trend.

Does Hindustan Aeronautics Ltd pay dividends?

Hindustan Aeronautics Ltd has a dividend yield of 1.09 % at the current price of ₹3,671.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Hindustan Aeronautics Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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