HAL shares fall ahead of Q3 results: What investors should track today
Defence stock: HAL shares were trading 0.54 per cent lower at Rs 4,109.95. The stock is down 6.62 per cent in 2026 so far against 1.60 per cent fall for the BSE Sensex.
- Feb 12, 2026,
- Updated Feb 12, 2026 11:40 AM IST
Shares of Hindustan Aeronautics Ltd (HAL) were trading lower in Thursday's trade ahead of the defence PSU's December quarter results later in the day. Analysts expect HAL to report 11-29 per cent year-on-year (YoY) surge in net profit for the third quarter compared on 6-10 per cent jump in net sales.
At 11.17 am, HAL shares were trading 0.54 per cent lower at Rs 4,109.95. The stock is down 6.62 per cent in 2026 so far against 1.60 per cent fall for the BSE Sensex.
PL Capital expects HAL to register a revenue growth of 10 per cent YoY to Rs 7,618 crore, driven by healthy execution of a robust order book. Ebitda margin is seen contracting 70 basis points YoY to 23.5 per cent due to higher other operating expenses. The management’s commentary on execution pace, status of GE engines and deliveries of Tejas Mk1A will be key monitorable, it said.
Adjusted profit is seen at Rs 1,603.90 crore, up 11.4 per cent. Antique Stock Broking sees HAL's Q3 net profit at Rs 1,725 crore, up 20 per cent. It sees sales for HAL rising 9 per cent YoY to Rs 7,583 crore.
Elara Securities expects HAL to report 29.1 per cent YoY rise in net profit at Rs 1,858.50 crore in Q3 compared with Rs 1,439.80 crore in the same quarter last year. It sees net sales for the quarter rising 6.1 per cent YoY to Rs 7,379.50 crore from Rs 6,957 crore YoY. Ebitda is seen climbing 12.2 per cent YoY to Rs 1,887 crore.
Elara believes that HAL's absence in India's fifth generation fighter aircraft prototype development program is unlikely to impact earnings until 2033, calling it “a pause, not a full stop.” It noted that while HAL is reportedly not part of Advanced Medium Combat Aircraft (AMCA) prototype development, its business remains well-diversified across multiple ongoing and developmental programs.
These include the Tejas Mk II prototype, expected in Q2FY27, Su-30 upgrades, Dornier 228, TEDBF, and CATS Warrior UCAV, alongside helicopters such as UHM, IMRH, LUH, and LCH Prachand. Elara said HAL is also pursuing new initiatives, including MRO services for Airbus, certification of civil helicopters by Q3FY27, and the development of the SJ-100 commercial aircraft with Russia.
According to Elara, the AMCA program, still at the prototype stage, was unlikely to contribute to HAL’s revenue or earnings until 2033, with the first prototype slated for 2030, orders estimated around 2032, and deliveries by CY35.
Shares of Hindustan Aeronautics Ltd (HAL) were trading lower in Thursday's trade ahead of the defence PSU's December quarter results later in the day. Analysts expect HAL to report 11-29 per cent year-on-year (YoY) surge in net profit for the third quarter compared on 6-10 per cent jump in net sales.
At 11.17 am, HAL shares were trading 0.54 per cent lower at Rs 4,109.95. The stock is down 6.62 per cent in 2026 so far against 1.60 per cent fall for the BSE Sensex.
PL Capital expects HAL to register a revenue growth of 10 per cent YoY to Rs 7,618 crore, driven by healthy execution of a robust order book. Ebitda margin is seen contracting 70 basis points YoY to 23.5 per cent due to higher other operating expenses. The management’s commentary on execution pace, status of GE engines and deliveries of Tejas Mk1A will be key monitorable, it said.
Adjusted profit is seen at Rs 1,603.90 crore, up 11.4 per cent. Antique Stock Broking sees HAL's Q3 net profit at Rs 1,725 crore, up 20 per cent. It sees sales for HAL rising 9 per cent YoY to Rs 7,583 crore.
Elara Securities expects HAL to report 29.1 per cent YoY rise in net profit at Rs 1,858.50 crore in Q3 compared with Rs 1,439.80 crore in the same quarter last year. It sees net sales for the quarter rising 6.1 per cent YoY to Rs 7,379.50 crore from Rs 6,957 crore YoY. Ebitda is seen climbing 12.2 per cent YoY to Rs 1,887 crore.
Elara believes that HAL's absence in India's fifth generation fighter aircraft prototype development program is unlikely to impact earnings until 2033, calling it “a pause, not a full stop.” It noted that while HAL is reportedly not part of Advanced Medium Combat Aircraft (AMCA) prototype development, its business remains well-diversified across multiple ongoing and developmental programs.
These include the Tejas Mk II prototype, expected in Q2FY27, Su-30 upgrades, Dornier 228, TEDBF, and CATS Warrior UCAV, alongside helicopters such as UHM, IMRH, LUH, and LCH Prachand. Elara said HAL is also pursuing new initiatives, including MRO services for Airbus, certification of civil helicopters by Q3FY27, and the development of the SJ-100 commercial aircraft with Russia.
According to Elara, the AMCA program, still at the prototype stage, was unlikely to contribute to HAL’s revenue or earnings until 2033, with the first prototype slated for 2030, orders estimated around 2032, and deliveries by CY35.