ICICI Direct's research report on Hindustan Aeronautics
Hindustan Aeronautics (HAL), the largest defence PSU in India, is engaged in 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 delivered revenue, EBITDA and PAT CAGR of 7.4%, 12% and 26.5%, respectively, in FY18-22. In FY22, repair & overhaul contributed ~64% to total revenues while manufacturing contributed~30%.
Outlook
We initiate coverage with a BUY recommendation on the stock. We value HAL at Rs 2,200 on 16x P/E on FY24E EPS basis.
More Info
At 16:01 hrs Hindustan Aeronautics Ltd. was quoting at Rs 1,780.65, down Rs 20.60, or 1.14 percent.
It has touched an intraday high of Rs 1,800.55 and an intraday low of Rs 1,774.75.
It was trading with volumes of 49,013 shares, compared to its thirty day average of shares, a decrease of percent.
In the previous trading session, the share closed down 0.39 percent or Rs 7.05 at Rs 1,801.25.
The share touched its 52-week high Rs 1,970.00 and 52-week low Rs 1,010.80 on 17 June, 2022 and 01 July, 2021, respectively.
Currently, it is trading 9.61 percent below its 52-week high and 76.16 percent above its 52-week low.
Market capitalisation stands at Rs 59,542.71 crore.
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