Manufactures, services and trades industrial automation products in India, operating as the local arm of the parent's new Honeywell Technologies business. Revenue splits into three streams: manufacturing at 57% of turnover, services at 29% and trading at 14%. Exports account for 33.13% of turnover, with the rest sold domestically. The business employs 3,119 permanent staff and 7,385 staff in total. Materials are the dominant cost at 51.3% of revenue, followed by employee costs at 17.9%, and the company carries no debt. Material related party transactions with Honeywell International Inc (up to Rs 9,500 million) and Honeywell Measurex Ireland (up to Rs 7,700 million) for FY26-27 show significant group-entity engagement. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Manufacturing (57%), Services (29%), Trading (14%). Asset-light industrial automation with zero debt, split across manufacturing, services and trading
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,948 | 3,448 | 4,058 | 4,190 | 4,682 |
| EBITDA (ex other income) | 433 | 519 | 589 | 585 | 593 |
| margin % | 14.7 | 15.0 | 14.5 | 14.0 | 12.7 |
| Owners' profit | 339 | 438 | 501 | 524 | 525 |
| EPS, as reported (₹) | 383.57 | 495.40 | 567.13 | 592.15 | 593.81 |
| ROE % · ROCE % | 12.0 · 16.0 | 13.7 · 18.5 | 13.9 · 18.5 | 13.0 · 17.2 | 11.8 · 15.7 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 264 | 410 | 439 | 426 | 493 |
| Capex | (13) | (28) | (32) | (28) | (33) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,024 | 1,091 | 1,115 | 1,183 | 1,149 | 1,169 | 1,181 | 1,204 |
| Profit before tax | 155 | 176 | 190 | 168 | 161 | 165 | 215 | 203 |
| Net profit | 115 | 132 | 140 | 125 | 120 | 121 | 160 | 151 |
| EPS (₹) | 130.18 | 149.35 | 158.26 | 140.95 | 135.13 | 137.08 | 180.60 | 170.45 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 45,150 | 93.8 | 24.06 | 77.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,717 | 82.8 | 10.02 | 53.5 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND ◆ | 30,536 | 55.7 | 6.84 | — | 11.8 | 15.5 | — | 18.2 |
| KAYNES TECHNOLOGY IND LTD | 23,496 | 67.9 | 4.93 | 33.3 | 7.6 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · Notice of Lost Share Certificate by Shareholder | compliance | minimal | — | — |
| 19 Aug 2026 · Newspaper notice for loss of share certificates | compliance | minimal | — | — |
| 30 Jul 2026 · Newspaper publication of Q1 FY27 unaudited results filed with exchanges | compliance | minimal | — | — |
| 29 Jul 2026 · Revised 42nd AGM Notice filed; typo on page 16 corrected | board shareholder meetings | low | — | — |
| 29 Jul 2026 · Revised Annual Report FY 2025-26 filed after typo correction on page 16 | compliance | minimal | — | — |
| 29 Jul 2026 · 42nd AGM results: all 7 resolutions passed, INR 110 dividend approved | board shareholder meetings | low | — | — |
| 29 Jul 2026 · 42nd AGM concludes, all 7 resolutions passed including Rs 110 dividend | board shareholder meetings | low | — | — |
| 29 Jul 2026 · 42nd AGM concluded; all 7 resolutions passed; INR 110 dividend declared | board shareholder meetings | low | — | — |
| 29 Jul 2026 · Honeywell Automation India AGM presentation - FY26 results shared | investor communications | medium | — | — |
| 29 Jul 2026 · Honeywell Automation Q1 FY27 PAT up 20.9% to Rs 150.7 cr | results | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 9.8 |
| — |
| 17.1 |
| JYOTI CNC AUTOMATION LTD | 22,490 | 69.9 | 11.24 | 39.7 | 16.8 | 19.2 | — | 22.2 |
| LMW LIMITED | 19,058 | 109.1 | 6.65 | 61.8 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 12,982 | 455.9 | 3.81 | 38.8 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,285 | 48.3 | 7.30 | 50.1 | 11.7 | 11.5 | — | 15.0 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 55.7 | 26.9 | 100 of 138 | 28% |
| P/B | 6.8 | 3.5 | 84 of 111 | 25% |
| ROCE | 15.5 | 11.3 | 50 of 144 | 66% |
| ROE | 11.8 | 9.5 | 42 of 117 | 65% |
| Debt / Equity | 0.0 | 0.2 | 4 of 117 | 78% |
| EBITDA margin | 18.2 | 12.4 | 31 of 110 | 73% |
| Revenue growth | 1.8 | 20.6 | 78 of 114 | 32% |
| Profit growth | 20.9 | 17.1 | 54 of 109 | 51% |
| Market cap | 30536 | 356 | 3 of 140 | 99% |
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| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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