HAL Share Price (HAL)

Hindustan Aeronautics Limited (HAL), incorporated on December 23, 1940 (originally as Hindustan Aircraft Limited and later formed into HAL in 1964 after amalgamation with Aeronautics India Limited), is an Indian public sector undertaking. It operates in the Aerospace and Defence manufacturing sector. As of March 31, 2025, HAL's order book stood at approximately ₹1,84,000 crore. During the fiscal year 2024-25, the company received new manufacturing contracts valued at ₹1,02,000 crore and Repair and Overhaul (ROH) contracts amounting to ₹17,500 crore. HAL is India's leading aerospace and defence manufacturer, playing a dominant role in the country's defence production and self-reliance efforts. A significant recent achievement was HAL being accorded 'Maharatna' status in October 2024, granting it greater operational and financial autonomy.

What does HAL do?

Hindustan Aeronautics Limited designs, develops, manufactures, repairs, overhauls, upgrades, and services a wide variety of aerospace products for the Indian defence forces and other clients. Its core operational activities include the production of fighter aircraft, trainer aircraft, transport aircraft, and helicopters, along with their engines, avionics, and accessories. HAL operates numerous manufacturing divisions and research and design centers across India. The company's primary revenue generation model is based on securing and executing large-scale contracts from the Indian Ministry of Defence for the supply of new aircraft and helicopters, as well as providing long-term maintenance, repair, overhaul (MRO), and upgrade services for these platforms throughout their operational life. It also generates income from the export of its products and services and by contributing to India's space programs. Based on its disclosures for the fiscal year ended March 31, 2025, manufacturing contracts for new products constituted approximately 70% of its operational income, while MRO services accounted for about 25%.

Products/Services of HAL

Fighter Aircraft

HAL manufactures and supports fighter aircraft, including the indigenous Light Combat Aircraft (LCA) Tejas (Mk1, Mk1A variants) and the licensed production of aircraft like the Su-30MKI. The company is currently ramping up production of the Tejas Mk1A, with a target to deliver 12 units in fiscal year 2025-26.

Helicopters

The company designs, develops, and manufactures helicopters such as the Advanced Light Helicopter (ALH) Dhruv, Light Combat Helicopter (LCH) Prachand, and the Light Utility Helicopter (LUH). HAL secured contracts for 156 LCH Prachand helicopters (90 for Army, 66 for Air Force) in March 2025.

Trainer Aircraft

HAL produces trainer aircraft like the Hindustan Turbo Trainer (HTT-40) for basic flight training and supports the Hawk advanced jet trainer fleet. The Indian Air Force has placed orders for 70 HTT-40 aircraft, with deliveries ongoing as of early 2025.

Transport Aircraft

The company manufactures the Dornier Do-228, a light transport aircraft used for utility and surveillance purposes by various Indian forces.

Aero-Engines

HAL manufactures, repairs, and overhauls aero-engines for its aircraft and helicopter platforms, including licensed production and indigenous development efforts.

Repair, Overhaul & Upgrades (ROH)

This involves providing MRO services and upgrades for the Indian armed forces' existing aircraft and helicopter fleets. ROH contracts worth ₹17,500 crore were booked in fiscal year 2024-25.

Future Outlook and Expansion Plans of HAL

Based on its most recent disclosures as of mid-2025, Hindustan Aeronautics Limited plans to significantly increase its production capacity for key platforms like the LCA Tejas Mk1A, aiming for an annual production rate of 24 aircraft by fiscal year 2026-27. The company anticipates its order book to grow substantially, with major expected orders including an additional 97 LCA Tejas Mk1A and further batches of helicopters, potentially taking the total order book to over ₹2.2 lakh crore by 2027. HAL is advancing the development of next-generation platforms such as the Advanced Medium Combat Aircraft (AMCA) and the Indian Multi-Role Helicopter (IMRH), with prototype development timelines set for the next 3-5 years. The company is also focusing on indigenous engine development, targeting milestones for its HTFE-25 (Turbofan) and HTSE-1200 (Turboshaft) engines. HAL aims to increase its export sales by 10-15% annually, targeting specific international markets with its range of aircraft and helicopters, and plans to establish overseas logistic support bases. An investment of approximately ₹2,500 crore annually in Research and Development is planned to foster innovation.