However, the investor optimism comes in the backdrop of muted September quarter (Q2FY24) results. Weak execution and higher costs led to lower-than-expected profit after tax of ₹1,235.3 crore.
Costlier raw material costs and increased expenses squeezed operating margins by over 400 basis points year-on-year (y-o-y) to 21.7%. Revenue growth of 9.5% y-o-y at ₹5,636 crore lagged expectations as well. Manufacturing revenue may have grown faster than high-margin repair & overhaul (ROH) segment, said analysts.
On the bright side, HAL’s order pipeline is strong, bringing visibility on long-term revenue growth. For FY24, HAL has guided for an order inflow of almost ₹48,000 crore, which is 85% higher than in FY23.
Diese Geschichte stammt aus der November 21, 2023-Ausgabe von Mint Mumbai.
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Diese Geschichte stammt aus der November 21, 2023-Ausgabe von Mint Mumbai.
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