Hindustan Aeronautics issues clarification regarding LCA MklA deliveries; stock still down over 4%. Check details

The stock slipped another 6% in the early trade on Thursday.

In the late morning deals, HAL issued a clarification regarding LCA MklA deliveries.

In its statement, HAL said it confirms that five aircraft are fully ready for delivery, incorporating major contracted capabilities in accordance with the agreed specifications.

"An additional nine aircraft have already been built and flown. Upon receipt of engines from GE, these aircraft will be made ready for delivery," it added.

All design and development issues identified are being addressed in an expedited manner. HAL is in active discussions with the Indian Air Force to deliver the aircraft at the earliest, the company said.

HAL has received five engines from GE as of date. The supply position from GE is positive, and the future delivery outlook aligns with HAL's delivery plans.

HAL assures that it will meet the guidance projected for the current financial year.

HAL stock: Key details

Data show that the HAL stock declined over 13% in the past five sessions (as of Thursday, February 5 morning level).

On the NSE, the stock declined as much as 6.26% to hit a low of ₹3,953 in the early trade on Thursday.

HAL's shares came under selling pressure on Wednesday amid news reports that the state-run aircraft maker had failed to advance in the bidding process in India’s Advanced Medium Combat Aircraft (AMCA) programme.

However, the company said in its regulatory filing that “HAL has not received any official communication in this regard and, therefore, is not in a position to comment on these reports at this stage."

The aircraft maker said it is “committed to keeping all stakeholders fully informed of all developments.”

HAL reiterated that it has a confirmed order book providing revenue visibility and a production pipeline extending to 2032.

It said it continues to work on multiple strategic programmes, including the Indian Multi Role Helicopter (IMRH), LCA Mk2 and Combat Air Teaming System (CATS), which are expected to enter production after 2032.

“HAL is also diversifying its portfolio in the civil aviation segment with platforms such as Dhruv NG, Hindustan 228 and SJ 100, which will enhance revenue and provide sustainable growth in the future,’ the company added.

What Morgan Stanley says

According to news reports, analysts at Morgan Stanley note that HAL has outperformed NIFTY50 by 4% YTD & the consensus P/E is down 15% in the past year.

"We see downside risk to the stock given increased private sector competition, and if slower execution persists due to high import dependence as multiple countries look to increase defence spending," the investment firm said, according to news reports.

HAL Q3 FY26 Results schedule

The company is slated to release its December quarter numbers on Thursday, February 12.

In its filing to stock exchanges on Wednesday, February 4, HAL said, "A meeting of the Board of Directors of the Company will be held on Thursday, the 12th February, 2026, to consider, inter alia, the Audited Financial Results of the Company for the quarter and period ended 31st December, 2025, and the declaration of the first interim dividend for the financial year 2025-26."