Hindustan Aeronautics Ltd - Stock Valuation and Financial Performance

BSE: 541154 | NSE: HAL | Defence | Large Cap

Hindustan Aeron Share Price

4,729.30 197.90 4.37%
as on 18-May'24 12:50

DeciZen - make an informed investing decision on Hindustan Aeron

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Hindustan Aeronautics stock performance -

mw4me loader
P/E Ratio (CD):
39.76
Market Cap:
3,03,048.7 Cr.
52-wk low:
1,490.4
52-wk high:
4,664

Is Hindustan Aeronautics Ltd an attractive stock to invest in?

1. Is Hindustan Aeronautics Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Hindustan Aeronautics Ltd is a good quality company.

2. Is Hindustan Aeronautics Ltd undervalued or overvalued?

The key valuation ratios of Hindustan Aeronautics Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Hindustan Aeronautics Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Hindustan Aeronautics Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

10 Year X-Ray of Hindustan Aeron:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Hindustan Aeronautics Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 0%13.9%15%21%17%18.5%17.9%19.8%29.3%27.7%-
Value Creation
Index
NA0.20.30.90.50.60.60.81.61.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 015,93916,75917,95018,52020,00821,44522,88224,62026,92730,381
Sales YoY Gr.-NA5.1%7.1%3.2%8%7.2%6.7%7.6%9.4%-
Adj EPS 024.429.135.630.234.943.648.575.688.4114
YoY Gr.-NA19.5%22.5%-15.3%15.7%24.7%11.3%55.8%17%-
BVPS (₹) 0174.3152.6173.7142.2180.7198.1230.6288.8352.5435.7
Adj Net
Profit
02,3472,1032,5762,0202,3362,9143,2425,0535,9117,621
Cash Flow from Ops. 0-8,8823,148-405-748-7,7001,52715,11710,1738,830-
Debt/CF from Ops. 0-00-2.5-1.2-0.53.9000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NA7.8%7.9%9.4%
Adj EPS NA24%26.6%17%
BVPSNA19.9%21.2%22.1%
Share Price - 71.2% 110.9% 205.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
01415.121.818.321.62322.629.127.628.9
Op. Profit
Mgn %
014.513.618.218.922.823.723.42225.331.3
Net Profit
Mgn %
014.712.614.410.911.713.614.220.52225.1
Debt to
Equity
0000.10.10.30.50000
Working Cap
Days
00774640605653703609498464320
Cash Conv.
Cycle
00583488467480458357253184128

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 28.90%

Net Profit is growing at healthy rate in last 3 years 26.59%

Sales growth is good in last 4 quarters at 10.71%

Sales growth has been subdued in last 3 years 7.88%

Latest Financials - Hindustan Aeronautics Ltd.

Standalone Consolidated
TTM EPS (₹) 113.6 114
TTM Sales (₹ Cr.) 30,381 30,381
BVPS (₹.) 434.3 435.7
Reserves (₹ Cr.) 28,712 28,804
P/BV 10.43 10.40
PE 39.90 39.76
From the Market
52 Week Low / High (₹) 1490.38 / 4664.00
All Time Low / High (₹) 224.00 / 4654.55
Market Cap (₹ Cr.) 3,03,049
Equity (₹ Cr.) 334.4
Face Value (₹) 5
Industry PE 45.2

Management X-Ray of Hindustan Aeron:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Hindustan Aeron

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales15,93916,75917,95018,52020,00821,44522,88224,62026,927
Operating Expenses 13,55514,62114,68715,07115,45716,53117,53819,20420,242
Manufacturing Costs848996914977859688724737734
Material Costs8,3298,6139,2068,7748,8359,38711,19110,00110,102
Employee Cost 3,4033,2733,5694,3084,3114,7784,3054,6044,910
Other Costs 9751,7399981,0121,4521,6781,3173,8624,495
Operating Profit 2,3842,1383,2633,4494,5514,9145,3445,4166,686
Operating Profit Margin (%) 15.0%12.8%18.2%18.6%22.7%22.9%23.4%22.0%24.8%
Other Income 1,6491,9321,0427623762973579851,670
Interest 21616351783602676564
Depreciation 8228637139471,0259991,1581,1111,785
Exceptional Items 20000119200
Profit Before Tax 3,1913,2133,5923,2433,7253,9794,2835,2256,510
Tax 7921,2099671,2521,3961,0961,038145682
Profit After Tax 2,3992,0042,6251,9902,3282,8833,2465,0805,828
PAT Margin (%) 15.1%12.0%14.6%10.7%11.6%13.4%14.2%20.6%21.6%
Adjusted EPS (₹)24.927.736.329.834.843.148.576.087.1
Dividend Payout Ratio (%)20%31%30%54%28%38%31%33%32%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 16,80411,03212,5599,51112,08213,24915,42419,31323,572
Share Capital 482362362334334334334334334
Reserves 16,32210,67112,1989,17711,74812,91415,09018,97923,238
Minority Interest000-044444
Debt16509508644,1165,887900
Long Term Debt107001001000000
Short Term Debt5809507644,0165,887900
Trade Payables2,3422,1511,5741,6662,6294,0842,2562,5583,135
Others Liabilities 45,02943,34836,46235,64931,62229,58434,01935,95239,367
Total Liabilities 64,33956,53251,54547,68950,45452,80751,71257,82666,078

Fixed Assets

Gross Block13,26713,3258,92410,10811,25112,18013,17214,00315,857
Accumulated Depreciation5,9016,6901,5322,4783,4974,4885,6086,7077,893
Net Fixed Assets7,3666,6357,3927,6307,7547,6927,5647,2967,964
CWIP 2351,4011,3891,4621,5022,0431,9502,4731,885
Investments 5709169941,0109109911,1211,3631,458
Inventories25,18823,98221,32119,35819,66419,43616,67314,34712,149
Trade Receivables6,3074,8374,2206,75212,45811,2355,6684,6424,719
Cash Equivalents 17,76813,30311,1496,5461243177,17714,34820,317
Others Assets6,9055,4585,0804,9338,04311,09511,55813,35817,587
Total Assets 64,33956,53251,54547,68950,45452,80751,71257,82666,078

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -8,8823,148-405-748-7,7001,52715,11710,1738,830
PBT 3,1913,2233,6013,2433,7253,9794,2835,2256,510
Adjustment -8008751,5422,0862,4812,5522,4614,3874,624
Changes in Working Capital -10371-90-4510-4566-12814-318392481589452
Tax Paid -902-861-1,037-1,510-1,092-1,820-875-1,027-2,756
Cash Flow From Investing Activity 7101,3473,0125975,294-1,339-1,180-12,785-5,728
Capex -883-1,471-1,502-1,253-1,393-1,379-1,207-1,497-1,776
Net Investments -382,8184,5141,8486,424-17-61-11,491-4,693
Others 1,6300012645888203741
Cash Flow From Financing Activity -1,274-5,880-164-2,5402,32664-7,070-1,464-1,731
Net Proceeds from Shares 000000000
Net Proceeds from Borrowing 000000000
Interest Paid -150-10-29-170-348-204-117-56
Dividend Paid -5780-1,104-1,295-798-1,340-1,003-1,338-1,672
Others -681-5,880950-1,2173,2941,753-5,863-9-4
Net Cash Flow -9,446-1,3852,443-2,691-802526,867-4,0761,370
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)14.2814.422.2518.0421.5722.7622.6429.2527.18
ROCE (%)18.9122.9129.2227.3129.2824.526.2630.3730.59
Asset Turnover Ratio0.250.280.340.380.410.420.440.450.43
PAT to CFO Conversion(x)-3.71.57-0.15-0.38-3.310.534.6621.52
Working Capital Days
Receivable Days144119891081752021357663
Inventory Days577523446399356333288230180
Payable Days1039574678913110388103

Hindustan Aeronautics Ltd Stock News

Hindustan Aeronautics Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Hindustan Aeron on 18-May-2024 12:50 is ₹4,729.3.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 18-May-2024 12:50 the market cap of Hindustan Aeron stood at ₹3,03,048.7.
The latest P/E ratio of Hindustan Aeron as of 18-May-2024 12:50 is 39.90.
The latest P/B ratio of Hindustan Aeron as of 18-May-2024 12:50 is 10.43.
The 52-week high of Hindustan Aeron is ₹4,664 and the 52-week low is ₹1,490.4.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Hindustan Aeron is ₹30,381 ( Cr.) .

About Hindustan Aeronautics Ltd

Hindustan Aeronautics Limited (HAL) is a limited Company incorporated in India. It is presently a Government Company within the meaning of Section 2(45) of the Companies Act, 2013 as the President of India acting through the Ministry of Defense (MoD) holds 89.97% equity shares of the Company.

Hindustan Aeronautics has been conferred with the ‘Navratna’ status by the GoI in June 2007 and is the largest DPSU in terms of value of production according to the MoD Annual Report 2016-2017. It was the largest aerospace company in the world in terms of revenue in 2016 according to Flight International. Its operations is organised into five complexes, namely the Bangalore Complex, MiG Complex, Helicopter Complex, Accessories Complex, and Design Complex, which together include many production divisions and various research and design centres (R&D Centres) located across India. It rely on indigenous research as well as enter into technology transfer and licence agreements to manufacture its products.

Business area of the company

HAL is engaged in the design, development, manufacture, repair, overhaul, upgrade and servicing of a wide range of products including, aircraft, helicopters, aero-engines, avionics, accessories and aerospace structures. The Company has been set up to meet the requirement of Indian Defense Forces (namely Indian Airforce, Indian Navy, Indian Army and Coast Guard) in the area of Aerospace.
Products and services offered by the company

Products

  • Aircrafts
  • Helicopters
  • Future Products
  • Power Point
  • Avionics
  • System and Accessories
  • Aerospace
  • Materials

Services

  • Aircraft MRO
  • Helicopters MRO
  • Power Plant Services
  • Systems, Accessories and Avionics

Exports

  • Aerostructures
  • Software
  • Dornier-228
  • Spares & Services
  • Helicopters
  • Engines
  • Avionics
  • Casting/Forgings

Awards

FY2017-18

  • The President of India, Shri Pranab Mukherjee honored HAL with ‘SCOPE Meritorious Award 2014-15’ for Corporate Governance at New Delhi on April 11, 2017.
  • HAL has been conferred ‘Golden Peacock Innovative Product/ Service Award - 2017’ by the Institute of Directors during its ‘Dubai Global Convention - 2017’ held on April 19, 2017.
  • HAL has been conferred ‘Raksha Mantri’s awards for Excellence’ for the year 2015-16 by Shri Arun Jaitley, Defence Minister in New Delhi on May 30, 2017.
  • Shri T Suvarna Raju, CMD, has been conferred the ‘Digital Transformer Award 2017’ by International Data Corporation (IDC) at New Delhi on August 4, 2017.

FY2018-19

  • Golden Peacock Innovative Product / Service Award for the year 2018 for the project ‘Repair of Non ToT Test equipment ARM-RLSU (SNK-30 MK) used for checking of Radar Complex of Su-30 MKI Aircraft, during the global Convention held between 17th and April 19, 2018 at Dubai.
  • Star Performer Award for the year 2016-17 in the Product Group - Defence Related Items, Large Enterprise, was presented by the Engineering Export Promotion Council (EEPC) India on May 31, 2018 at New Delhi.
  • The Gold Trophy in recognition of outstanding contribution to Skill Development was awarded to HAL in the Best PSU- Public  Sector Training Programme” category, during the Summit-cum-Awards function on Skilling India, organised by ASSOCHAM on November 01, 2018 at New Delhi.
  • ‘Governance Now’ 6th PSU Award Teconology Adaption under Navratna Category at New Delhi on January 17, 2019

FY2019-20

  • HAL received SCOPE Corporate Communications Excellence Award 2019 on August 3, 2019 at New Delhi.
  • HAL received Karnataka State Export Award for the year 2016-17 under the PSU category
  • HAL was conferred with Governance Now 7th 146 award for ‘Research and Innovation’ on February 19, 2020.

Major Events and Milestones:

  • 1964: Hindustan Aircraft Limited was amalgamated with Company pursuant to the order of the Company Law Board dated September 28, 1964.
  • 1970: Company established the Helicopter factory at Bangalore.
  • 1983: Company established the Korwa Division for Advanced Avionics at Korwa, Uttar Pradesh.
  • 1998: Company established the Industrial and Marine Gas Turbine Division for aeroderivative gas turbines and industrial engines at Bangalore.
  • 2000: Company established the Airport Service Centre at Bangalore.
  • 2006: Company upgraded the Barrackpore Branch Factory to a Division.
  • 2008: Company created a separate Helicopter Complex.
  • 2015: Restructuring of all R&D Centres under Design Complex.
  • 2016: Upgradation of the Korwa branch of Aerospace Systems and Equipment Research and Design Centre to an R&D Centre.
  • 2016: 100% subsidiary of Company, Naini Aerospace Limited, incorporated on December 29, 2016.
  • 2017: A subsidiary of Company, Indo-Russian Helicopters Limited, incorporated on May 2, 2017.
  • 2018: LCA Tejas successfully completed mid air refuelling trial on September 18, 2018
  • 2018: Astra Missile integrated in Su-30 MKI Aircraft and test fired on September 26,2018
  • 2019: HTT-40 successfully demonstrated 6-turn spin capability at Bengaluru on October 1, 2019
  • 2020: LCA Navy Mk-1 prototype-2 successfully demonstrated arrested landing on ship INS Vikramaditya on January 11,2020
  • 2020: First Light Combat (LCA) in FOC standard took to the skies for maiden fight on March 17, 2020
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