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HAL shares fall after Q4 despite profit growth as Goldman warns margins and execution lag
Business
Published on 15 May 2026
Goldman says execution and margins are slipping
Hindustan Aeronautics Ltd shares fell as much as 4.3% on Friday even as the company posted a 6% year-on-year rise in consolidated net profit to Rs 4,196 crore for Q4FY26. Revenue from operations grew 2% to Rs 13,942 crore, while sequential profit more than doubled. For FY26, net profit rose nearly 9% to Rs 9,116 crore. Nomura kept a Buy rating on strong order backlog, but Goldman stayed Neutral, citing weaker execution, lower EBITDA margins, and rising working capital strain.
- Q4FY26 net profit rose 6% YoY to Rs 4,196 crore
- Revenue from operations increased 2% YoY to Rs 13,942 crore
- FY26 net profit climbed nearly 9% to Rs 9,116 crore
- Nomura maintained Buy with target Rs 5,954 and upside about 29%
- Goldman cut target slightly to Rs 5,225 and flagged margin and execution pressure
- Inventory and cash flow weakened, with operating cash flow down to Rs 10,900 crore
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times