Hindustan Aeronautics Limited (HAL) is an Indian public sector aerospace and defence company, headquartered in Bengaluru. Established on 23 December 1940, HAL is one of the oldest and largest aerospace and defence manufacturers in the world. The company was originally incorporated as Hindustan Aircraft Limited and later formed into HAL in 1964 after amalgamation with Aeronautics India Limited.
A significant recent achievement was HAL being accorded 'Maharatna' status in October 2024, granting it greater operational and financial autonomy. This prestigious designation reflects the company's strategic importance in India's defense ecosystem and its substantial contribution to the nation's aerospace capabilities.
Hindustan Aeronautics Limited is an India-based company, which 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. HAL currently has 11 dedicated Research and development (R&D) centres and 21 manufacturing divisions under 4 production units spread across India.
The company's aircraft portfolio includes several flagship products. The Company's products include HAWK, light combat aircraft (LCA), SU-30 MKI, intermediate jet trainer (IJT), DORNIER and HTT-40. Its helicopter products include Dhruv, Cheetah, Chetak, Lancer, Cheetal, Rudra, light combat helicopter (LCH) and light utility helicopter (LUH).
In terms of avionics capabilities, HAL's avionics products include inertial navigation system, auto stabilizer, head up display, laser range system, flight data recorder, communication equipment, radio navigation equipment, air borne secondary radar, missile inertial navigation, radar computers and ground radars. The Company's services include aircraft maintenance, repair and operations (MRO), Helicopters MRO, power plant services, and systems, accessories and avionics.
HAL has the market capitalization of ₹3.34 trillion as of recent trading sessions. For the fiscal year 2024-25, the company reported revenue of ₹30,981 crore and profit of ₹8,364 crore, demonstrating strong financial performance despite market challenges.
Hindustan Aeronautics Ltd's net profit fell -7.71% since last year same period to ₹3,976.66 crore in Q4 2024-2025. However, on a quarterly growth basis, Hindustan Aeronautics Ltd has generated 176.19% jump in its net profits since last 3-months.
The company maintains a healthy dividend policy, with HAL proposing a final dividend of Rs 15 per share for FY25, marking a 300% payout. The record date is set for August 21, 2025, pending shareholder approval. HAL's dividend yield was 0.96% in 2024, and payout ratio reached 31.98%.
As of March 31, 2025, HAL's order book stood at approximately ₹1,84,000 crore. During the fiscal year 2024-25, the company received new manufacturing contracts valued at ₹1,02,000 crore and Repair and Overhaul (ROH) contracts amounting to ₹17,500 crore.
The company has secured significant new orders in recent months. HAL has received orders worth Rs 55,000 crore in the first nine months of this fiscal year. It is also expecting to finalise orders worth another Rs 1.2 lakh crore in the next five to six months.
Notable recent contracts include HAL winning a Rs 511 crore bid to manufacture ISRO's Small Satellite Launch Vehicle (SSLV), with expectations to produce 6-8 rockets annually. Two major contracts secured by HAL include one for 97 Light Combat Aircraft (Tejas) and 156 Light Combat Helicopters (Prachanda).
HAL continues to strengthen its international partnerships. In June 2025, HAL and Safran Aircraft Engines (SAE), a French aircraft engine manufacturing company, signed an agreement for HAL to manufacture rotating parts for SAE's LEAP engines. HAL has signed a long-term contract with aircraft engine manufacturer Safran Aircraft Engines (SAE) for the supply of turbine forged parts for their Leading Edge Aviation Propulsion (LEAP) engines. An MoU was signed between the two companies in October 2023 to develop industrial cooperation in commercial engine parts manufacturing as part of the Indian government's "Make in India" policy. This contract marks the first agreement under this industrial cooperation.
The company is focusing on expanding production capacity. HAL plans to significantly increase its production capacity for key platforms like the LCA Tejas Mk1A, aiming for an annual production rate of 24 aircraft by fiscal year 2026-27. The company anticipates its order book to grow substantially, with major expected orders including an additional 97 LCA Tejas Mk1A and further batches of helicopters, potentially taking the total order book to over ₹2.2 lakh crore by 2027.
Promoter holding stands at 71.6%, indicating strong government backing and control. HAL's EBITDA is ₹96.08 billion, with current EBITDA margin at 31.01%. The company maintains a strong balance sheet with reduced debt and is almost debt free.
HAL reached its all-time high on July 9, 2024 with the price of ₹5,674.75, and its all-time low was ₹235.00 reached on March 23, 2020. HAL has been spending Rs 2,500 crore annually on research and development to upgrade its products and sustain order inflows.
The company's strategic importance in India's defense sector, combined with its robust order book and ongoing capacity expansion initiatives, positions HAL as a key player in the country's aerospace and defense manufacturing landscape.
