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Further delays in LCA Mk1A deliveries
View Risks →Hindustan Aeronautics Limited — Q4 FY26
HAL reported FY26 revenue of ₹33,150 crore (+7% YoY), with EBITDA of ₹13,472 crore (+11% YoY) and margins steady at 30%.
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HAL reported FY26 revenue of ₹33,150 crore (+7% YoY), with EBITDA of ₹13,472 crore (+11% YoY) and margins steady at 30%. Manufacturing revenue grew 30% to ₹9,227 crore, driven by ALH helicopter and engine deliveries, while RO revenue was flat at ~₹20,525 crore. The order book surged to ₹2,54,538 crore (+35% YoY) after ₹97,028 crore of fresh orders, including 97 LCA Mk1A and other platforms. Management guided for 10-12% revenue growth in FY27 and maintained EBITDA margin guidance of 30-31%. Key risks include further delays in LCA Mk1A deliveries (targeted to start by September 2026) and global supply chain disruptions affecting engine supplies from GE and Honeywell.
हाल ने वित्त वर्ष 2026 में ₹33,150 करोड़ का राजस्व दर्ज किया, जो पिछले साल से 7% अधिक है। कंपनी की कमाई (EBITDA) ₹13,472 करोड़ रही, जो 11% बढ़ी, और मुनाफा दर (मार्जिन) 30% पर स्थिर रही। विनिर्माण राजस्व 30% बढ़कर ₹9,227 करोड़ हो गया, जिसका कारण ALH हेलीकॉप्टर और इंजनों की डिलीवरी है। वहीं, रखरखाव और मरम्मत (RO) राजस्व लगभग ₹20,525 करोड़ पर सपाट रहा। ऑर्डर बुक ₹2,54,538 करोड़ तक पहुंच गया, जो 35% अधिक है, जिसमें 97 LCA Mk1A और अन्य उपकरणों के नए ऑर्डर शामिल हैं। प्रबंधन ने अगले वित्त वर्ष में 10-12% राजस्व वृद्धि और 30-31% मुनाफा दर बनाए रखने का अनुमान लगाया है। मुख्य जोखिमों में LCA Mk1A की डिलीवरी में देरी (सितंबर 2026 तक शुरू होने की उम्मीद) और GE व Honeywell से इंजन आपूर्ति में वैश्विक रुकावटें शामिल हैं।
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Order Book
₹2,54,538 crore
+35% YoY
Order book increased from ₹1,89,032 crore, driven by ₹97,028 crore of fresh orders including 97 LCA Mk1A.
LCA Mk1A Delivery Target
20 units
N/A (first deliveries)
Management targets delivery of 20 LCA Mk1A in FY27, pending engine supplies from GE.
Manufacturing Revenue Share
28%
+5pp YoY
Manufacturing revenue share rose from ~23% in FY25, driven by ALH and engine deliveries.
Capex Plan by 2030
₹12,000 crore
N/A
Planned investment in manufacturing infrastructure for LCA Mk2, GE414 engines, and SSLV.
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Guidance and risk preview
Management expects double-digit revenue growth of 10-12% in FY27, driven by LCA Mk1A and HTT40 deliveries.
LCA Mk1A deliveries have been delayed multiple times; management now targets start by September 2026, but risks remain due to software issues and e...
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