Hindustan Aeronautics Ltd

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NSEBSE

3154.3070.25 (2.28%)

03:49 PM,1st Mar 2024

3155.4576.20 (2.47%)

04:01 PM,1st Mar 2024

BSE : 541154

NSE : HAL

Sector : Engineering

ISIN Code : INE066F01020

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Last Updated: Mar 01 2024 | 04:01 PM IST

Market Cap (₹ Cr)

210953

Turnover (₹ Cr)

47.83

Volume (Shares)

1516373

Face Value

5

52-WK High

3170.00

52-WK High Date

28 Feb 2024

52-WK Low

1237.55

52-WK Low Date

23 Mar 2023

All Time High

3170.00

All Time High Date

28 Feb 2024

All Time Low

235.00

All Time Low Date

23 Mar 2020

Hindustan Aeronautics Ltd

Hindustan Aeronautics Limited (HAL) a Public Sector Enterprise 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 Operations are organised into five complexes namely the Bangalore Complex MiG Complex Helicopter Complex Accessories Complex and Design Complex which together include 20 production divisions and 11 research and design centres (R&D Centres) located across India. The Company relies on indigenous research as well as enters into technology transfer and licence agreements to manufacture its products. In addition the company has entered into 13 commercial joint ventures to grow its operations.Hindustan Aeronautics Limited (HAL) was incorporated as a Private Limited Company with the name 'Aeronautics India Limited' on August 16 1963. Subsequently Hindustan Aircraft Limited a Company incorporated on December 23 1940 merged with the Company pursuant to the Aircraft Companies' Amalgamation Order dated September 28 1964. The name of the Company was changed to 'Hindustan Aeronautics Limited' on December 05 1964 with effect from October 01 1964In 1970 the Company established the Helicopter factory at Bangalore. In 1983 the company established the Korwa Division for Advanced Avionics at Korwa Uttar Pradesh. The status of the Company was changed to Public Limited Company by a Special Resolution of the Members of the Company passed at the Extra Ordinary General Meeting held on July 10 1995.In 1998 the Company established the Industrial and Marine Gas Turbine Division for aeroderivative gas turbines and industrial engines at Bangalore. In 2000 the company established the Airport Service Centre at Bangalore.The Company's Aircraft Upgrade R&D Centre ('AURDC') was conferred with the 'Raksha Mantri's Award for Excellence in Performance (Design Effort)' in relation to the MiG-27 aircraft for the year 2005-06.In 2006 the Company upgraded the Barrackpore Branch Factory to a Division. The Company was notified as a Navratna Company by the Department of Public Enterprises GoI through notification on June 27 2007. The Navratna status provides the Company with strategic and operational autonomy and enhanced powers to make prompt investment decisions subject to an overall investment ceiling set by the GoI.In 2008 the Company created a separate Helicopter Complex. In 2015 the company carried out restructuring of all R&D Centres under Design Complex.In 2016 the Company upgraded the Korwa Branch of Aerospace Systems and Equipment Research and Design Centre to an R&D Centre. On 29 December 2016 Naini Aerospace Limited was incorporated as a 100% subsidiary of Hindustan Aeronautics.On 2 May 2017 the Company's subsidiary Indo-Russian Helicopters Limited was incorporated.During year 2018-19 Company produced 41 new Aircraft and Helicopters. Additionally they produced 102 New Aero-Engines and Accessories. It overhauled 213 platforms of various aircraft. Further 560 Russian and western origin aero-engines were overhauled by the Company during the year under review.During the year 2018-19 Light Combat Helicopter (LCH) completed all weapon integration and firing tests in January 2019 and is ready for induction. The maiden flight of third prototype (PT3) of Light Utility Helicopter (LUH) was conducted on 14th December 2018. Advanced Light Helicopter (ALH) blade folding capability was demonstrated to customer on December 19 2018 on CG 855 helicopter. The LCA Tejas completed mid-air refuelling trial by Wet (actual) Engagement on 10th September 2018. It accomplished 100% running of HTFE-25 crore 2 Engine with Inlet Guide Vane (IGV) modulation in March 2019. It indigeneously designed and developed Gas Turbine Electrical Generator (GTEG-60) Auxiliary Power Unit (APU) to start the main engines of AN-32 Military Transport Aircraft was flown on 11th February 2019. Astra Missile was test fired by the IAF on 26th September 2018. The LCA Naval Prototype -2 (NP2) safely executed the first contract of the HAL- designed and developed Arrester Hook System (AHS) with arresting wire at moderate taxi-in speed on August 02nd 2018. The first Mirage 2000 aircraft upgraded to IOC standard with indigenous modification kits was delivered by the Company to the IAF on 01st January 2019. The Company flew the Light Utility Helicopter (LUH) on 29th December 2018.During year 2019-20 Company has produced 31 new Aircraft and Helicopters covering Su-30 MKI LCA Tejas Dornier Do228 ALH Dhruv Cheetal Helicopter and Chetak Helicopter in addition to the production of 117 New Engines and Accessories. It overhauled 201 platforms including both fixed wing and rotary wing aircraft of various types. Further 486 aero-engines of Russian and Western origin were also overhauled during the year under review. It has signaled out 7 ALHs of the current year production ahead of schedule for Army and delivered 1 Chetak Helicopter to the Indian Navy ahead of schedule. It has commenced production of Jaguar DARIN III (FOC) Upgrade and started manufacturing of RD-33 Engines.During year 2020-21 Company has produced 44 Nos of new Aircraft and Helicopters covering Su-30 MKI LCA Tejas Dornier Do-228 ALH Dhruv Light Combat Helicopter (LCH) and Chetak helicopter in addition to the production of 102 New Engines and Accessories. It overhauled 198 Nos of Aircraft and Helicopters. Further 506 engines were also overhauled during the year 2020-21. The Company produced FOC standard LCA Tejas has been inducted into IAF Squadron `The Flying Bullets' on May 27 2020. Second production line for LCA aircraft has been operationalised and 2 LCAs have been produced in FY 2020-21. Two Light Combat Helicopters (LCH) were deployed for operations at high altitude at short notice to support IAF missions on August 12 2020. Three Light Combat Helicopters (LCH) have been produced and signalled out against the Letter of Intent of IAF. It overhauled 5 Nos of Su30-MKI aircraft. It received Initial Operational Clearance (IOC) of Light Utility Helicopter (LUH) for the Indian Army from CEMILAC at the Aero India 2021. It received Operational Clearance from CEMILAC for ALH Mk-III for Indian Coast Guard and Indian Navy in January 2021. The Company handed over three ALH Mk III to the Indian Navy and two ALH to Indian Coast Guard at the Aero India 2021. It demonstrated the tail boom foldingoperation on ALH Mk-III helicopter in November 2020. The first Upgraded ALH Mk III CIVIL helicopter has been produced in November 2020. It indigenously designed and developed a 60kW Gas Turbine Electrical Generator (GTEG-60) the Auxiliary Power Unit (APU) for the Military Transport aircraft AN-32 which has attained operational clearance on May 28 2020. The 150th Do-228 aircraft produced by HAL was handed over on November 11 2020. A digital `Pilot Operating Handbook (POH)' was also released as in-house effortstowards automation and `Digital India'. It manufactured 300th Advanced Light Helicopter (ALH) which was rolled out and certified on 29th September 2020. The biggest Cryogenic propellant tank (C32 LH2) ever fabricated for ISRO was delivered to ISRO on November28 2020. First`ISROSENE Propellant Tank' ofsemi cryo developmental project has been formally handed over to LPSC ISRO on 05th February 2021. Inner Ring a critical aero-engine component operating in the hot zone has been developed and manufactured through 3D printing technology with the collaboration of Wipro Enterprises (P) Ltd. During the year 2021 the Company has entered into a contract for supply of 83 LCA Mk1A to IAF. It carried the production and supply orders of Su-30 MKI aircraft Light Combat Aircraft (LCA) Tejas Dornier Do-228 Aircraft Advanced Light Helicopter (ALH) Dhruv Light Combat Helicopter (LCH) Chetak helicopter engines accessories and aerospace structures to fulfill the requirement of their esteemed customers. It has achieved significant progress in various R&D / Development Projects viz. Basic Trainer Aircraft (HTT-40) Light Utility Helicopter (LUH) Light Combat Aircraft (LCA)- MK1AJaguar Darin III Upgrade Hawk-i and Development of Engines. During the year 2022 the Company has produced 34 numbers of new Aircraft and Helicopters covering LCA Tejas Dornier Do228 ALH Dhruv and Light Combat Helicopter (LCH) in addition to the production of 80 New Engines and Accessories at its various Divisions. It has also overhauled 207 Aircraft / Helicopters and 506 engines during the year.As on March 31 2022 Company has 2 Subsidiaries including 1 wholly owned Subsidiary and 14 Joint Venture Companies (JVCs) including 2 Not-for-Profit Companies.During year 2021-22 Company handed over 75th ROH Su-30 MKI aircraft to IAF on January 25 2022. It completed Mid-Life upgrade of two Do-228 aircraft for Coast Guard in 2021-22 against deliveries originally scheduled to start from 2022-23 as per Contract. It commenced Performance Based Logistics (PBL) operations of ALH Mk III (MR) on February 10 2022 for the first batch of ALH Mk III (MR) inducted by CG under PBL support regime. It made an investment of Rs. 120000 Lakh in UP Defence Industrial Corridor (UPDIC) towardsenhancement of capacity & capability at Lucknow Korwa and Kanpur Divisions of HAL. In-line with Government's vision to boost defence exports to friendly foreign countries HAL signed contracts with Government of Mauritius (GoM) for export of one passenger variant Do-228 (PVD) on September 10 2021 and for one Advanced Light Helicopter (ALH) Mk III helicopter on January 19 2022. Further HAL has already completed the production and delivery of this Do-228 PVD for Mauritius ahead of contractual delivery commitment. The Intermediate Jet Trainer (IJT) designed and developed by HAL for stage -II training of IAF pilots has demonstrated the capability to carry out six turn spins to the LH and RH sides which is the most crucial stage in flight trials. The Company indigenously designed and developed `Air Data Computer ADC 3600A CVL1 (ADC-ITSOA)' which is `Environmentally Qualified' with in-house developed application software certified for civil platforms of aircraft and helicopters. It integrated and flown `Lithium Main Battery' on HTT-40 and making it first time in the continent using lithium battery for military aviation. It indigenously designed and developed Solid State Weapon Control System (SSWCS) for management of weapons on Jaguar aircraft as a replacement to the ageing Armament Main unit (AMU). It completed the design development and certification of Solid State Cockpit Voice and Flight Data Recorder (SSCVFDR) and Control Unit (CU) for Hindustan-228 aircraft. The heaviest Semi-Cryogenic propellant tank (SC120- LOX) ever fabricated by HAL was delivered to Indian Space Research Organization (ISRO) on October 5 2021.During the year 2022 the Company has produced Light Combat Aircraft (LCA) Tejas Dornier Do-228 Aircraft (both civil & military) Advanced Light Helicopter (ALH) Dhruv Light Combat Helicopter (LCH) engines accessories and aerospace structures against the various customer orders. It launched production of Light Utility Helicopter (LUH). It signed a lease agreement with Alliance Air Aviation Limited on September 26 2021 for the supply of two Civil Do-228 aircraft for regional operations in Arunachal Pradesh to boost the Regional Connectivity Scheme (RCS). First commercial flight on the Dibrugarh-Pasighat route commenced on April 12 2022 by Alliance Air Aviation Limited. It embarked on DGCA Type Certification (TC) of 19 seater Hindustan-228 aircraft a Do-228 Civil variant.In FY 2022 the Company launched new platform design and development programmes such as Combat Air Teaming System (CATS)Warrior Hindustan Lead in Fighter Trainer HLFT-42 High Altitude Pseudo Satellite (HAPS) Utility Helicopter-Maritime Deck Based Multi Role Helicopter (DBMRH). It has signed an MoU with Rolls-Royce on April 9 2021 to explore the potential opportunity of HAL to become aBuild to Print supplier for the MT30 (Gas Turbine) package for sales within the Indian market. It signed an agreement with Rolls-Royce on September 14 2021 for Make-in-India Adour engine parts to support Rolls-Royce's international defence customer base. The Company and d ZeroAvia entered into a development collaboration agreement on 9th November 2021 for hydrogen-electricpowertrain capable of flying the 19 seat Dornier 228 aircraft up to 500 NM. It signed an MoU with Max AeroSpace & Aviation Pvt. Ltd. Mumbai on 12th January 2022 to explore business opportunities for MRO of civil aircraft. It signed an MoU with Uganda Peoples Defence Forces (UPDF) on 3rd March 2022 towards Co-operation for Repair Overhaul and maintenance supply of spares etc. forSu-30 Mk2 of UPDF. It signed an MoU with Safran Helicopter Engines (SafranHE) on 14th March 2022 for exploring businessopportunities in the area of Helicopter Engines etc. It has entered into a MoU with Israel Aerospace Industries (IAI) on 4th April 2022 to convert Civil (Passenger) aircraft to Multi Mission Tanker Transport (MMTT) aircraft in India. It integrated Medical Intensive Care Unit (MICU) on board two ALH MK III of Indian Navy deployed at INS Hansa Goa during May/June 2021. It carried out `Ceremonial First Flight' of upgraded Dhruv Civil Helicopter on November 26 2021.During the year 2023 the Company produced 22 numbers of new Aircraft and Helicopters covering Light Combat Aircraft (LCA) Tejas Dornier Do-228 Aircraft Advanced Light Helicopter (ALH) Dhruv Light Combat Helicopter (LCH) and Light Utility Helicopter (LUH) engines in addition to the production of 51 New Engines and Accessories at its various Divisions. The Company overhauled 216 Aircraft / Helicopters and 536 engines during the year.During the year 2023 the Company opened Integrated Cryogenic Engine Manufacturing Facility (ICMF) in Bengaluru on September 27 2022. It commissioned the production of 15 Light Combat Helicopters (LCH) against the 15 LCH contract ahead of contract schedule. The first flight of the LCA Mk1A prototype (LCA SP-25 modified for MK1A features) was commissioned on May 20 2022. It produced 4 Do-228 aircraft in advance against the contract for supply 6 Do-228 to IAF. The maiden arrested landing and ski-jump take-off from the indigenous aircraft carrier INS Vikrant was carried out by the LCA Navy MK1 aircraft on February 6 2023. Handed over the last of the 16 ALH MKIII (Maritime role) order to the Indian Coast Guard (ICG) on November 15 2022. Delivered the first set of hardware for Gaganyaan mission (first unmanned mission) as well as the 150th HAL made Satellite Bus-structure to ISRO on April 4 2022. HAL also delivered the Crew Module Fairing (CMF) and HEM-Thrust Transfer Structure (HTS) hardware for `Human Spaceflight Program' to Indian Space Research Organization (ISRO) on August 17 2022 in Bengaluru. Build of LCA Navy MK I Trainer prototype aircraft NP5 (3rd Naval prototype) commissioned and engine ground run carried out on January 16 2023. Design & development of Indigenous Mission Management System (MMS) integrated on DO-228 (ICG) and flight testing commenced from August 25 2022. Developed and designed Solid State Flight Data Recorder (SSFDR) / Cockpit Voice Recorder (CVR) for Cheetah Chetak and Cheetal helicopter. The Company indigenously designed and developed two products HTT-40 Basic Trainer Aircraft and LUH MkI. It commissioned New Helicopter Manufacturing Factory at Tumakuru; established facilities for manufacturing of semi cryogenic and cryogenic engine components at Integrated Cryogenic Engine Manufacturing Facility (ICMF). The Company achieved a significant milestone towards civil aviation segment and Regional Connectivity Scheme UDAN with the first commercial flight of HAL's civil Do-228 held on April 12 2022 at Dibrugarh-Pasighat route.During the year 2023 HTT-40 completed erect spin certification flights and PSQR validation trials. First Inverted Spin tests was carried out in March 2023.

Hindustan Aeronautics Ltd - Key Fundamentals

PARAMETER VALUES
Market Cap (₹ Cr)

210953

EPS - TTM (₹) [S]

91.87

P/E Ratio (X) [S]

8.41

Face Value (₹) 5
Latest Dividend (%)440.00
Latest Dividend Date 20 Feb 2024
Dividend Yield (%) 0.89
Book Value Share (₹) [S]375.12
P/B Ratio (₹) [S]8.41
[*C] Consolidated [*S] Standalone

Funds Owing this Stock

Scheme Name Amount Invested ( ₹ Cr ) No Of Shares Net Asset (%)
HDFC Hybrid Debt Fund (G) 18.14 60000 0.59
HDFC Hybrid Debt Fund (IDCW-M) 18.14 60000 0.59
HDFC Hybrid Debt Fund (IDCW-Q) 18.14 60000 0.59
HDFC Hybrid Debt Fund - Direct (IDCW-Q) 18.14 60000 0.59
HDFC Hybrid Debt Fund - Direct (IDCW-M) 18.14 60000 0.59
HDFC Hybrid Debt Fund - Direct (G) 18.14 60000 0.59
360 ONE Balanced Hybrid Fund - Direct (IDCW) 3.71 12280 0.66
360 ONE Balanced Hybrid Fund - Direct (G) 3.71 12280 0.66
360 ONE Balanced Hybrid Fund - Regular (IDCW) 3.71 12280 0.66
360 ONE Balanced Hybrid Fund - Regular (G) 3.71 12280 0.66

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Research Reports

Date BrokerActionPrices(Rs)Report
16-05-2023ICICI Securities Accumulate 2974
05-09-2022ICICI Securities Buy 2289

Stock Strength

Today's Low/High

3092.00

3164.00

Week Low/High

3006.00

3170.00

Month Low/High

2828.00

3170.00

Year Low/High

1237.55

3170.00

All time Low/High

224.00

3170.00

Share Price Returns

Period BSENSE SENSEXNIFTY
1 Week3.59%3.57%0.820.57%
1 Month5.31%5.23%2.932.96%
3 Month28.11%28.11%9.2810.22%
6 Month59.97%60.05%12.7814.94%
1 Year134.90%135.02%24.1328.01%
3 Year481.44%481.30%47.9351.33%

Company Info

Company Information

Nominee (Govt) : Chandraker Bharti

Independent Director : Dipali Khanna

Director (Human Resources) : VINAY MOHAN CHAMOLA

Director (Operation) : Sunil Kumar.

Independent Director : JATINDER KUMAR BAJAJ

Company Secretary : Sesha Reddy Venkata Gajjala

Director (Engineering R & D) : Arup Chatterjee

Official Director (Part time) : Tessy Thomas

Non-Official Director. : K C Sekhar

Non-Official Director. : S Malla Reddy

Director (Finance) & CFO : C B Ananthakrishnan

Chairman & Managing Director : R Madhavan

Independent Director : Anil Kumar

Independent Director : Neelakanta Iyer R

Independent Director : SIDDHARTH

Registered Office: Post Box No 5150, 15/1 Cubbon Road,Bangalore,Karnataka-560001 Ph: 91-080-22320001

Email:cosec@hal-india.com

URL:http://www.hal-india.com