Hindustan Aeronautics Limited has informed the Exchange about Transcript
HAL · price
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HAL reported FY26 revenue of INR33,050 crore (up 7% YoY) with EBITDA at INR13,472 crore (11% growth) maintaining ~30% operating margins. Revenue split was 28% manufacturing and 62% repair & overhaul. Order book surged to INR2,54,538 crore with fresh orders of INR97,028 crore received during the year. Management guided for 10-12% revenue growth in FY27 while maintaining EBITDA margins at 30-31%. The main near-term catalyst is LCA Mark-1A delivery expected to start by August-September 2026 with ~20 units planned for FY27. GE has committed 15-20 engines for the year. Other key programs — HTT-40 deliveries also expected from FY27, Su-30 MKI contract starting FY28 with 1 aircraft, and LCH on track for FY27-28. Capex guidance is INR12,000 crore by 2030 for capacity expansion. The company flagged global aerospace supply chain slowness but indicated inventory buffers and purchase orders placed will shield FY27 costs.
HAL's strong order book (INR2.55 lakh crore) and guidance of double-digit revenue growth in FY27 are positive, but investors remain anxious about LCA Mark-1A delivery timelines given repeated delays. Margin guidance of 30-31% provides earnings visibility and signals management confidence in cost control despite supply chain headwinds.