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Hindustan Aeron

₹2984 35.4 | 1.2%

Market Cap ₹199562 Cr.

Stock P/E 32.4

P/B 7.6

Current Price ₹2984

Book Value ₹ 394.9

Face Value 5

52W High ₹3130

Dividend Yield 0.92%

52W Low ₹ 1237.5

Overview Inc. Year: 1963Industry: Defence

Hindustan Aeronautics Ltd is an India-based aerospace and defense company. The Company designs and develops a variety of aircrafts that consist of fighter aircrafts, instructor aircrafts, shipping aircrafts, navy helicopters, and civil helicopters. It additionally develops plane engines, avionics and add-ons, which includes unique test equipment, ground managing system, and floor assist equipment. The Company manufactures its plane by the use of each indigenous and licensed Russian and Western starting place technologies. Its range of aircrafts includes Su-30 MKI plane, Light Combat Aircraft (LCA) Tejas, Dornier Do-228 Aircraft, Advanced Light Helicopter (ALH) Dhruv, Light Combat Helicopter (LCH), Chetak helicopter, engines, add-ons and aerospace structures. The Company has evolved Basic Trainer Aircraft (HTT-40), Light Utility Helicopter (LUH), Light Combat Aircraft (LCA)- MK1A, Jaguar Darin III Upgrade, Hawk-i and improvement of engines.

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Hindustan Aeron Share Price

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Peer Comparison

Hindustan Aeron Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 5552 5894 11558 3622 5145 5666 12495 3915 5636 6061
Other Income 136 195 504 192 259 497 722 410 469 460
Total Income 5689 6089 12062 3814 5404 6163 13217 4325 6105 6521
Total Expenditure 4311 4465 9061 2796 3663 4680 9249 3039 4332 4626
Operating Profit 1377 1623 3000 1018 1741 1483 3968 1287 1773 1895
Interest 1 1 42 0 0 2 55 0 0 0
Depreciation 243 373 383 208 252 269 1056 201 350 212
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 1133 1249 2576 809 1488 1212 2857 1085 1423 1683
Provision for Tax 290 314 -528 202 409 58 12 275 415 428
Profit After Tax 844 935 3104 607 1079 1154 2845 810 1009 1255
Adjustments 3 -2 1 13 142 1 -13 4 228 7
Profit After Adjustments 847 933 3105 620 1221 1155 2831 814 1237 1261
Adjusted Earnings Per Share 12.7 14 46.4 9.3 18.3 17.3 42.3 12.2 18.5 18.9

Hindustan Aeron Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 15939 16759 17950 18520 20008 21445 22882 24620 26927 28107
Other Income 1649 1932 1042 762 376 297 357 985 1670 2061
Total Income 17588 18691 18991 19282 20384 21742 23240 25605 28598 30168
Total Expenditure 13555 14621 14687 15071 15457 16531 17538 19204 20242 21246
Operating Profit 4033 4070 4304 4211 4927 5211 5701 6401 8356 8923
Interest 21 6 16 35 178 360 267 65 64 55
Depreciation 822 863 713 947 1025 999 1158 1111 1785 1819
Exceptional Income / Expenses 2 0 0 0 0 119 2 0 0 0
Profit Before Tax 3191 3213 3592 3243 3725 3979 4283 5225 6510 7048
Provision for Tax 792 1209 967 1252 1396 1096 1038 145 682 1130
Profit After Tax 2399 2004 2625 1990 2328 2883 3246 5080 5828 5919
Adjustments 0 0 0 0 0 0 0 0 0 226
Profit After Adjustments 2399 2004 2625 1990 2329 2883 3246 5080 5828 6143
Adjusted Earnings Per Share 24.9 27.7 36.3 29.8 34.8 43.1 48.5 76 87.1 91.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 9% 8% 8% 0%
Operating Profit CAGR 31% 17% 15% 0%
PAT CAGR 15% 26% 24% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 133% 78% 55% NA%
ROE Average 27% 26% 25% 21%
ROCE Average 31% 29% 28% 27%

Hindustan Aeron Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 16804 11032 12559 9511 12082 13249 15424 19313 23572
Minority's Interest 0 0 0 -0 4 4 4 4 4
Borrowings 107 0 0 100 100 0 0 0 0
Other Non-Current Liabilities 11899 12849 13401 11981 10075 8427 10871 13487 11675
Total Current Liabilities 35528 32650 25585 26097 28193 31127 25413 25023 30827
Total Liabilities 64339 56532 51545 47689 50454 52807 51712 57826 66078
Fixed Assets 7366 6549 7350 7566 7459 7357 7166 6766 6834
Other Non-Current Assets 2014 4257 4020 3108 3347 4056 4168 6068 7359
Total Current Assets 54959 45726 40176 37015 39648 41394 40378 44985 51877
Total Assets 64339 56532 51545 47689 50454 52807 51712 57826 66078

Hindustan Aeron Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 11238 1729 334 2804 107 27 279 7146 3070
Cash Flow from Operating Activities -8882 3148 -405 -748 -7700 1527 15117 10173 8830
Cash Flow from Investing Activities 710 1347 3012 597 5294 -1339 -1180 -12785 -5728
Cash Flow from Financing Activities -1274 -5880 -164 -2540 2326 64 -7070 -1464 -1731
Net Cash Inflow / Outflow -9446 -1385 2443 -2691 -80 252 6867 -4076 1370
Closing Cash & Cash Equivalent 1792 344 2777 113 27 279 7146 3070 4441

Hindustan Aeron Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 24.89 27.72 36.3 29.76 34.82 43.11 48.54 75.96 87.14
CEPS(Rs) 33.42 39.66 46.16 43.92 50.15 58.03 65.84 92.56 113.83
DPS(Rs) 4.98 8.7 11.05 16.1 9.9 16.5 15 25 27.5
Book NAV/Share(Rs) 174.32 152.59 173.71 142.22 180.66 198.1 230.63 288.78 352.46
Core EBITDA Margin(%) 14.96 12.46 17.59 18.52 22.75 22.92 23.35 22 24.83
EBIT Margin(%) 20.15 18.76 19.45 17.6 19.5 20.23 19.89 21.49 24.41
Pre Tax Margin(%) 20.02 18.73 19.36 17.41 18.62 18.55 18.72 21.22 24.17
PAT Margin (%) 15.05 11.68 14.15 10.69 11.64 13.44 14.18 20.63 21.64
Cash Profit Margin (%) 20.21 16.71 17.99 15.77 16.76 18.1 19.24 25.14 28.27
ROA(%) 3.73 3.32 4.86 4.01 4.74 5.58 6.21 9.28 9.41
ROE(%) 14.28 14.4 22.25 18.04 21.57 22.76 22.64 29.25 27.18
ROCE(%) 18.91 22.91 29.22 27.31 29.28 24.5 26.26 30.37 30.59
Receivable days 144.42 118.53 89.09 107.51 175.21 201.63 134.81 76.42 63.44
Inventory Days 576.77 522.98 445.63 398.61 355.93 332.75 287.99 229.94 179.58
Payable days 102.62 95.2 73.86 67.39 88.72 130.51 103.38 87.83 102.84
PER(x) 0 0 0 18.96 10.19 6.18 10.25 9.79 15.67
Price/Book(x) 0 0 0 3.97 1.96 1.35 2.16 2.57 3.87
Dividend Yield(%) 0 0 0 2.85 2.79 6.19 3.02 3.36 2.01
EV/Net Sales(x) -1.07 -0.77 -0.54 1.73 1.39 1.09 1.14 1.44 2.64
EV/Core EBITDA(x) -4.24 -3.16 -2.27 7.62 5.64 4.5 4.58 5.53 8.5
Net Sales Growth(%) 0 5.14 7.11 3.17 8.04 7.18 6.7 7.59 9.37
EBIT Growth(%) 0 0.21 12.08 -9.17 19.07 11.17 4.89 16.25 24.28
PAT Growth(%) 0 -16.45 30.96 -24.18 16.99 23.8 12.59 56.52 14.72
EPS Growth(%) 0 11.4 30.96 -18.02 16.99 23.8 12.6 56.5 14.72
Debt/Equity(x) 0.01 0.01 0.08 0.1 0.34 0.45 0 0 0
Current Ratio(x) 1.55 1.4 1.57 1.42 1.41 1.33 1.59 1.8 1.68
Quick Ratio(x) 0.84 0.67 0.74 0.68 0.71 0.71 0.93 1.22 1.29
Interest Cover(x) 149.49 545.63 219.34 94.66 21.97 12.06 17.05 81.08 102.06
Total Debt/Mcap(x) 0 0 0 0.02 0.18 0.33 0 0 0

Hindustan Aeron Shareholding Pattern

# Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Promoter 75.15 75.15 75.15 75.15 75.15 75.15 71.65 71.64 71.64 71.64
FII 2.29 3.15 4.37 5.56 6.85 7.13 9.07 11.91 12.63 12.94
DII 5.41 18.25 17 15.72 13.48 12.72 13.93 10.64 9.72 9.14
Public 17.16 3.45 3.48 3.58 4.53 4.99 5.34 5.82 6.01 6.29
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 23% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 26%
  • Company is almost debt free.

Cons

  • Debtor days have increased from 87.83 to 102.84days.
  • Stock is trading at 7.6 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Hindustan Aeron News

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