State-owned aerospace and defence sector major Hindustan Aeronautics Limited (HAL) has announced strong financial results for the second quarter of FY26 on 12th November, 2025, reporting a 10.5% year-on-year increase in consolidated net profit to ₹1,669 crore, compared to ₹1,510 crore in the same period last year.
Sequentially, profit jumped by 37.5% from ₹1,383.7 crore in the preceding quarter, reflecting robust operational performance and steady execution across key projects.
Revenue Performance
HAL’s revenue from operations for Q2FY26 rose 11% year-on-year to ₹6,628.6 crore, up from ₹5,976.3 crore in Q2FY25. On a sequential basis, revenue increased by 37.5% from ₹4,819 crore, driven by healthy demand in the aerospace and defence manufacturing segment.
This consistent revenue momentum highlights HAL’s growing order pipeline and execution capabilities across various indigenous defence programmes.
Expenses and Margins
The company’s total expenses grew to ₹5,296.64 crore during the quarter, marking a 17.34% rise year-on-year from ₹4,513.92 crore in Q2FY25. Sequentially, expenses were up by 42.27% compared to ₹3,722.07 crore in Q1FY26.
While operational costs increased due to higher project activity, EBITDA stood at ₹1,558 crore, representing a 5% year-on-year decline from ₹1,640 crore in the same quarter last year. The EBITDA margin moderated to 23.5% from 27.4%, reflecting a rise in input and execution-related expenses.
Standalone Financial Highlights
On a standalone basis, HAL reported a profit of ₹1,662.52 crore, up 11.55% year-on-year, compared to ₹1,490.36 crore in the corresponding quarter last year. Revenue from operations also increased 11% year-on-year to ₹6,628.46 crore, reaffirming the company’s consistent financial strength.
Strategic Developments
In a major strategic update, HAL recently entered into an agreement with General Electric (GE) Company, USA, for the supply of 113 F404-GE-IN20 engines along with a support package. These engines are meant for the execution of India’s 97 Light Combat Aircraft (LCA) Mk1A programme.
The deliveries under this contract are scheduled between 2027 and 2032, marking a key milestone in India’s self-reliant defence manufacturing journey. The agreement reinforces HAL’s role as a cornerstone of India’s aerospace ecosystem and a trusted partner in indigenous defence production.
Market Overview
At the time of results announcement on 12 November 2025, shares of Hindustan Aeronautics Ltd were trading at ₹4,748.50, down 2.35% for the day. The stock has moved within a 52-week range of ₹3,045.95 to ₹5,166, reflecting investor confidence in the company’s long-term growth potential.
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Conclusion
HAL’s Q2FY26 performance demonstrates resilience and operational excellence amid rising costs. The company’s continued focus on indigenous production, coupled with strategic global partnerships, positions it as a critical force in strengthening India’s defence capabilities.
With solid revenue growth, a healthy order book, and an expanding role in the LCA programme, Hindustan Aeronautics Limited remains well-placed to sustain its growth trajectory in the coming quarters.
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