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Last Updated on: 27 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Hindustan Aeronautics Ltd

About the Company - Hindustan Aeronautics Ltd

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. 24620.21 Cr. and Equity Capital is Rs. 334.39 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Aerospace & DefenseNo: 15/1, Cubbon Road, Bengaluru Karnataka 560001investors@hal-india.co.in
http://www.hal-india.co.in
Management
NamePosition Held
Mr. C B AnanthakrishnanDirector - Finance & CFO
Mr. E P JayadevaDirector - Operations
Mr. Atasi Baran PradhanDirector - Human Resources
Dr. Divya GuptaIndependent Director
Mr. Deepak Abasaheb ShindeIndependent Director
Dr. D K SunilDirector
Mr. T NatarajanGovernment Nominee Director
Mr. M Z SiddiqueGovernment Nominee Director

Hindustan Aeronautics Ltd. Share Price Update

Share PriceValue
Today₹3,057.30
Previous Day₹3,044.85

Basic Stock Data of Hindustan Aeronautics Ltd

Market Cap 2,00,428 Cr.
Current Price 2,997
High / Low3,132/1,238
Stock P/E32.6
Book Value 375
Dividend Yield0.92 %
ROCE30.6 %
ROE27.2 %
Face Value 5.00

Data Source: screener.in

Hindustan Aeronautics Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales4,8545,42610,8661,6165,5525,89411,5583,6235,1455,66612,4953,9155,636
Expenses3,8264,2178,1551,3724,3094,4639,0632,7983,5354,6809,2523,0364,107
Operating Profit1,0281,2092,7112441,2431,4312,4958251,6109863,2428801,529
OPM %21%22%25%15%22%24%22%23%31%17%26%22%27%
Other Income8892133150138195503192261497722411471
Interest7153301511420025500
Depreciation2201796481112433733822082522691,055201349
Profit before tax8251,0692,1662681,1381,2512,5748091,6191,2122,8541,0891,650
Tax %26%20%25%26%25%25%-21%25%25%5%0%25%25%
Net Profit6138531,6211998489383,1026071,2091,1542,8418141,235
EPS in Rs9.1712.7624.242.9712.6814.0246.389.0718.0817.2542.4812.1718.47

Hindustan Aeronautics Ltd Quarterly Chart

Hindustan Aeronautics Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales14,21114,32815,13515,73016,75817,95018,51920,00821,44522,88224,62026,92827,712
Expenses12,66513,56013,56513,37914,28114,71415,05915,44016,56517,54119,20020,25821,075
Operating Profit1,5467681,5702,3512,4783,2363,4604,5694,8805,3415,4206,6696,636
OPM %11%5%10%15%15%18%19%23%23%23%22%25%24%
Other Income2,5113,3352,6181,6421,5981,0447613764153609861,6722,101
Interest6581561635177359267656458
Depreciation7226016038068636819471,0249981,1571,1101,7841,875
Profit before tax3,3293,4973,5783,1733,2073,5833,2403,7423,9384,2775,2316,4936,805
Tax %24%14%25%25%38%27%39%37%28%24%3%10%
Net Profit2,5392,9972,6932,3881,9982,6161,9872,3462,8423,2395,0865,8116,045
EPS in Rs105.37124.3527.9324.7727.6336.1829.7235.0842.4948.4476.0586.8990.37
Dividend Payout %29%28%33%20%31%31%54%28%39%31%26%32%

Hindustan Aeronautics Ltd Profit & Loss Yearly Chart

Hindustan Aeronautics Ltd Growth

Compounded Sales Growth
10 Years:7%
5 Years:8%
3 Years:8%
TTM:8%
Compounded Profit Growth
10 Years:7%
5 Years:24%
3 Years:28%
TTM:1%
Stock Price CAGR
10 Years:%
5 Years:55%
3 Years:78%
1 Year:130%
Return on Equity
10 Years:22%
5 Years:25%
3 Years:27%
Last Year:27%

Hindustan Aeronautics Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital120120482482362362334334334334334334334
Reserves11,21813,25814,53316,30410,65812,1759,15111,74112,86515,03418,93023,17224,753
Borrowings556845801,0229054,1575,9275349510
Other Liabilities43,96144,14648,18047,25245,42038,14938,04435,23835,00837,60140,87145,63246,679
Total Liabilities55,30557,52963,87864,04256,51951,70848,43451,47054,13553,02260,18369,19071,766
Fixed Assets1,9382,0082,0887,1916,9257,3507,5667,4547,3517,1586,7586,8278,157
CWIP701031852161,0251,3891,4581,4992,0401,9482,4721,884785
Investments5277077077458869819899029401,0551,2941,3851,385
Other Assets52,76954,71060,89855,89047,68241,98838,42141,61543,80342,86149,65959,09361,439
Total Assets55,30557,52963,87864,04256,51951,70848,43451,47054,13553,02260,18369,19071,766

Hindustan Aeronautics Ltd Reserves and Borrowings Chart

Hindustan Aeronautics Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -423-734-7,6941,53715,12410,1808,836
Cash from Investing Activity 3,0215945,292-1,334-1,190-12,789-5,734
Cash from Financing Activity -164-2,5402,32164-7,070-1,464-1,731
Net Cash Flow2,433-2,680-802666,864-4,0721,370

Hindustan Aeronautics Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days10014016614510586133227191906964
Inventory Days8088029711,1181,017854838882815602608527
Days Payable6892901019162691131647696116
Cash Conversion Cycle8408501,0461,1621,032878902996843617581475
Working Capital Days-199-152-52-22-59311729528614611138
ROCE %28%25%20%23%29%27%29%24%26%30%31%

Hindustan Aeronautics Ltd Financial Efficiency Indicators Chart

Hindustan Aeronautics Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters75.15%75.15%75.15%75.15%75.15%75.15%75.15%75.15%75.15%71.65%71.64%71.64%
FIIs0.30%0.91%0.98%2.29%3.15%4.37%5.56%6.85%7.14%9.07%11.90%12.63%
DIIs19.71%20.31%20.54%5.40%18.25%17.00%15.71%13.48%12.72%13.93%10.64%9.72%
Public4.84%3.63%3.33%17.16%3.45%3.48%3.58%4.53%4.98%5.34%5.81%6.02%
No. of Shareholders2,30,2412,11,8192,01,7911,87,5812,07,0182,18,1162,38,7163,00,1753,21,2463,58,3174,20,6944,91,969

Hindustan Aeronautics Ltd Shareholding Pattern Chart

No. of Hindustan Aeronautics Ltd Shareholders

Hindustan Aeronautics Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
HDFC Flexi Cap Fund - Regular Plan84000003.891531.36
HDFC Mid-Cap Opportunities Fund - Regular Plan57744092.21052.7
HDFC ELSS Tax Saver Fund30000004.85546.92
HDFC Balanced Advantage Fund - Regular Plan22719240.65414.18
Nippon India Small Cap Fund20000000.98364.61
HDFC Focused 30 Fund - Regular Plan13000003.41237
Tata Equity P/E Fund - Regular Plan12500003.81227.88
Tata Equity P/E Fund - Regular Plan - Trigger Option A 5%12500003.81227.88
HDFC Top 100 Fund - Regular Plan11619400.82211.83
SBI Arbitrage Opportunities Fund11256000.92205.2

Hindustan Aeronautics Ltd ROCE Trend

Hindustan Aeronautics Ltd EPS Trend

Hindustan Aeronautics Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)174.28151.9296.8785.9269.63
Diluted EPS (Rs.)174.28151.9296.8785.9269.63
Cash EPS (Rs.)245.43190.41131.96115.57100.27
Book Value[Excl.RevalReserv]/Share (Rs.)705.04577.67461.02396.04361.45
Book Value[Incl.RevalReserv]/Share (Rs.)705.04577.67461.02396.04361.45
Revenue From Operations / Share (Rs.)805.27736.27680.48641.11598.35
PBDIT / Share (Rs.)267.55196.47170.69155.21147.10
PBIT / Share (Rs.)196.32157.99135.45125.35116.44
PBT / Share (Rs.)194.58156.25127.76118.48111.36
Net Profit / Share (Rs.)174.19151.9296.7285.7169.61
NP After MI And SOA / Share (Rs.)174.28151.9296.8885.9269.64
PBDIT Margin (%)33.2226.6825.0824.2024.58
PBIT Margin (%)24.3721.4519.9019.5519.45
PBT Margin (%)24.1621.2218.7718.4818.61
Net Profit Margin (%)21.6320.6314.2113.3611.63
NP After MI And SOA Margin (%)21.6420.6314.2313.4011.63
Return on Networth / Equity (%)24.7226.3021.0121.7019.27
Return on Capital Employeed (%)18.0415.8317.1318.8317.28
Return On Assets (%)8.678.696.235.394.59
Long Term Debt / Equity (X)0.000.000.000.000.01
Total Debt / Equity (X)0.000.000.000.430.34
Asset Turnover Ratio (%)0.420.440.430.410.40
Current Ratio (X)1.681.801.571.331.41
Quick Ratio (X)1.291.220.920.700.70
Inventory Turnover Ratio (X)0.750.560.430.410.37
Dividend Payout Ratio (NP) (%)28.6826.3230.9638.6928.43
Dividend Payout Ratio (CP) (%)20.3621.0022.7028.7119.74
Earning Retention Ratio (%)71.3273.6869.0461.3171.57
Cash Earning Retention Ratio (%)79.6479.0077.3071.2980.26
Interest Coverage Ratio (X)154.33112.8922.0214.8929.00
Interest Coverage Ratio (Post Tax) (X)101.4888.2913.478.8814.72
Enterprise Value (Cr.)70983.9635383.1726102.4223284.2527732.02
EV / Net Operating Revenue (X)2.641.441.151.091.39
EV / EBITDA (X)7.935.394.574.495.64
MarketCap / Net Operating Revenue (X)3.392.021.460.831.19
Retention Ratios (%)71.3173.6769.0361.3071.56
Price / BV (X)3.872.572.161.351.96
Price / Net Operating Revenue (X)3.392.021.460.831.19
EarningsYield0.060.100.090.160.09

Hindustan Aeronautics Ltd Profitability Ratios (%)

Hindustan Aeronautics Ltd Liquidity Ratios

Hindustan Aeronautics Ltd Liquidity Ratios (%)

Hindustan Aeronautics Ltd Interest Coverage Ratios (%)

Hindustan Aeronautics Ltd Valuation Ratios

Fair Value of Hindustan Aeronautics Ltd Stock

Fair Value: ₹3355.79

The stock is undervalued by 11.97% compared to the current price ₹2997

*Investments are subject to market risks

Strength and Weakness of Hindustan Aeronautics Ltd Stock

StrengthWeakness
  1. The stock has a high average ROCE of 24.33%, which is a positive sign.
  2. The company has higher reserves (14,907.08 cr) compared to borrowings (995.62 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (19.15 cr) and profit (3.69 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 146.31 and average Dividend Yield of 20.94%.
  2. The stock has a high average Working Capital Days of 54.67, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 582.08, which may not be favorable.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

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