Hindustan Aeronautics Limited (HAL) is a state-owned aerospace and defence company based in Bengaluru. It is a public sector undertaking operating under the Ministry of Defence.
Hindustan Aircraft Limited was founded by Walchand Hirachand in December 1940. The government acquired a one-third stake in HAL in 1941. The HT-2 Trainer aircraft, manufactured by HAL, took its first flight in August 1951. The government established Aeronautics India Limited (AIL) in August 1963 to start the production of MiG-21 aircraft. In October 1964, Hindustan Aircraft Limited merged with Aeronautics India Limited, leading to the formation of HAL as it is known today.
HAL was listed on BSE and National Stock Exchange (NSE) on March 28, 2018. The market capitalisation of Hindustan Aeronautics Limited stood at over ₹1.8 lakh crore as of December 21, 2023. HAL share price has gained 238% in the last three years.
Business operations
The leading defence sector PSU primarily focuses on aerospace services, specialising in the manufacturing and development of aircraft, helicopters, jet engines and components. It operates across multiple locations in India including Bengaluru, Kanpur, Nasik, Koraput, Korwa, Lucknow, Kasaragod and Hyderabad.
HAL's customers include the biggest names in the defence, aerospace and civil aviation sectors. Some of them are the Indian Air Force (IAF), Indian Army, Indian Navy, Indian Coast Guard, Indian Space Research Organisation (ISRO), Defence Research & Development Organisation (DRDO), Border Security Force, Oil & Natural Gas Cooperation (ONGC) and Bharat Heavy Electricals Ltd (BHEL).
HAL has manufactured many products across different categories. Some of the fighter jets built by HAL include the Tejas light combat aircraft, SU-30 MKI, MiG-21 and MiG-27. HAL has also developed Dhruv, Rudra, Cheetah, Chetak, Lancer, Cheetal, LCH and LUH helicopters for IAF and Indian Army.
In FY23, HAL manufactured 22 new aircraft and helicopters which included models such as LCA Tejas, Dornier Do-228, ALH Dhruv, Light Combat Helicopter (LCH) and Light Utility Helicopter (LUH). It also produced 51 new engines and accessories across its different divisions. The company conducted overhauls on 216 aircraft/helicopters and 536 engines within the same period.
The President of India inaugurated HAL's Integrated Cryogenic Engine Manufacturing Facility (ICMF) in Bengaluru on September 27, 2022. ICMF is a central hub for the complete manufacturing of rocket engines for ISRO under one roof. It also signifies a significant step in the Atmanirbhar Bharat Abhiyan and in the production of high-thrust Rocket engines.
Hindustan Aeronautics Limited also has a learning & development centre called the HAL Management Academy (HMA). Established in 1969, HMA has played a significant role in advancing aerospace technology and management. In 2020, it got approval from the All India Council for Technical Education (AICTE) to conduct full-time 24-month post postgraduate diplomas in Aviation Management and Production Management.
HAL Financial Highlights
- Revenue: HAL reported revenue of ₹36,787.95 crore in FY26 vs ₹33,542.64 crore in FY25. It showed an increase of 9.68% on a yearly basis.
- Operating Profit: HAL reported an operating profit of ₹12,151.93 crore in FY26 vs ₹10,867.26 crore in FY25. It showed an increase of 11.82% on a year-on-year basis.
- Net Profit: HAL reported a net profit of ₹9,115.52 crore in FY26 vs ₹8,364.05 crore in FY25. It showed an increase of 8.98% on a yearly basis.
HAL Quarterly Result Highlights
- HAL reported revenue of ₹15,092.97 crore in Mar 2026, compared with ₹8,612.60 crore in Dec 2025, representing an increase of 75.24% on a quarter-on-quarter (QoQ) basis.
- HAL reported an operating profit of ₹5,583.83 crore in Mar 2026, compared with ₹2,486.81 crore in Dec 2025, representing an increase of 124.54% on a quarter-on-quarter (QoQ) basis.
- HAL reported a profit of ₹4,196.04 crore in Mar 2026, compared with ₹1,866.66 crore in Dec 2025, reflecting an increase of 124.79% on a QoQ basis.
- The earnings per share (EPS) of HAL stood at ₹125.07 during Mar 2026.
