Not withstanding a 55 per cent rise in the stock of Hindustan Aeronautics (HAL), the largest publicly traded defence company, brokerages believe the stock still has considerable ammo.
With a 55% stock rise, the defence major is taxiing towards growth, Analysts' optimistic outlook following the 2024-25 (FY25) first- and brokerages have upgraded their earnings forecasts quarter results is underpinned by a strong order book, promising growth prospects, margin improvements, and enhanced execution. Consequently, several brokerages have upgraded their earnings forecasts.
The defence giant reported revenues of ₹4,348 crore, reflecting an 11 per cent year-on-year (Y-o-Y) increase and aligning broadly with projections. This growth was primarily driven by manufacturing, which outpaced the repair and overhaul (ROH) segment. The company has projected double-digit revenue growth for FY25, buoyed by the timely delivery of the light combat aircraft (LCA).
The status of LCA Tejas Mk1A deliveries is critical, as supplychain issues at GE Aerospace have caused delays in providing the General Electric (GE) F404 engine.
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