Shares of Hindustan Aeronautics Ltd (HAL) extended gains for the second straight session on Friday, February 13 after Q3 results. The company’s net profit reached ₹1,867 crore, reflecting a 30.3% increase from the prior year’s ₹1,433 crore.
Its revenue amounted to ₹7,699 crore, marking a 10.7% rise from the ₹6,957 crore reported in the same quarter of the previous fiscal year. HAL’s earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 11.2%, climbing to ₹1,871 crore from ₹1,683 crore the year before.
The board of directors of HAL has announced the first interim dividend of ₹35 per equity share, each valued at ₹5, for the financial year 2026. The record date for this dividend is set for Wednesday, February 18, 2026. Eligible shareholders will receive the dividend on or before March 14, 2026.
HAL – Q3 results Review
Seema Srivastava, Senior Research Analyst at SMC Global Securities, said that the declaration of a ₹35 per share interim dividend underscores management’s confidence in cash flows and financial strength. Overall, the results reflect robust operational performance and stable margin expansion supported by disciplined cost management.
ICICI Securities mentioned in its report that HAL’s performance in Q3FY26 was generally in line with market expectations. Year-to-date, the revenue growth of approximately 11% slightly exceeded the annual forecast of 9–10%.
The domestic brokerage house believes that the recent news (Link) about HAL being excluded from the AMCA program will not significantly affect the company’s medium-term outlook. Currently, HAL boasts its highest-ever order book ranging from ₹2.5 to 2.6 trillion, which includes 180 Mk1A aircraft orders that, even under full execution rates, are expected to take around 8 years to fulfill.
The brokerage firm noted that there is also potential for the Mk2. Furthermore, HAL has entered into a Memorandum of Understanding for the production of the SJ-100 in India. As a result, they anticipate that HAL will be fully occupied for the next 10 to 11 years, leaving minimal capacity for the AMCA. Moving forward, execution will be a critical factor to monitor.
“ Maintain a BUY rating; the target price has been adjusted to ₹5,300 (down from ₹5,725), based on a multiple of 35 times the FY28E earnings per share,” said ICICI Securities.
HAL share price today
HAL share price today opened at ₹4,199.80 apiece on the BSE, the stock touched an intraday high of ₹4,260 per share and an intraday low of ₹4,156.05 apiece.
According to Ruchit Jain, VP – Head of Equity Technical Research, Motilal Oswal Financial Services, the stock has gone through a corrective phase in last few months. However, the RSI oscillator is hinting at a positive divergence and hence a short term pullback move can be seen in the near term. On pullback moves, resistance would be seen in the range of ₹4,380-4,470.
Anshul Jain, Head of Research at Lakshmishree, believes that the ₹4,400–4,600 zone now stands out as a key pullback resistance band where sellers are likely to re-enter. Unless the stock reclaims this zone with strength, the broader bias stays negative. From a risk–reward perspective, rallies into resistance appear to offer favorable sell-on-rise opportunities while the downtrend structure remains intact.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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