India's state-owned aerospace major that builds and overhauls military aircraft, helicopters and engines
Price
Market Cap
Sector
Industrials
Rank
| Line item | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|---|---|---|---|
| LiabilitiesEquity Capital | 334 | 334 | 334 | 334 | 334 | 334 | 334 | 334 |
| Reserves | 12.9k | 15.1k | 19.0k | 23.2k | 28.8k | 34.6k | 36.8k | 40.7k |
| Borrowings | 5.9k | 51 | 49 | 52 | 50 | 51 | 11 | 11 |
| Other Liabilities | 35.0k | 37.8k | 40.9k | 45.7k | 51.7k | 73.7k | 86.0k | 91.4k |
| Total Liabilities | 54.2k | 53.3k | 60.3k | 69.3k | 80.9k | 108.7k | 123.1k | 132.4k |
| AssetsFixed Assets | 7.4k | 7.5k | 6.8k | 6.8k | 6.7k | 6.7k | 9.1k | 9.6k |
| CWIP | 2.0k | 2.1k | 2.5k | 1.9k | 2.5k | 3.1k | 1.1k | 1.0k |
| Investments | 991 | 1.1k | 1.4k | 1.5k | 1.6k | 1.8k | 1.8k | 1.9k |
| Other Assets | 43.8k | 42.7k | 49.7k | 59.1k | 70.1k | 97.2k | 111.2k | 119.9k |
| Total Assets | 54.2k | 53.3k | 60.3k | 69.3k | 80.9k | 108.7k | 123.1k | 132.4k |
| Line item | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| ActivitiesCash from Operating | -7.7k | 1.5k | 15.3k | 10.2k | 8.8k | 8.2k | 13.6k | 10.9k |
| Cash from Investing | 5.3k | -1.3k | -1.3k | -12.8k | -5.7k | -6.4k | -10.8k | -8.3k |
| Cash from Financing | 2.3k | 64 | -7.1k | -1.5k | -1.7k | -2.0k | -2.6k | -3.4k |
| SummaryCapital Expenditure | — | — | — | — | — | — | — | — |
| Free Cash Flow | -9.1k | 148 | 13.9k | 8.7k | 7.1k | 6.5k | 11.9k | 8.4k |
| FCF Margin | — | — | — | — | — | — | — | — |
A per-share valuation needs positive trailing EPS and a live price.
HAL doesn't have both right now.
Methodology: we discount normalized net profit as a proxy for owner earnings (an earnings-power approximation — not full free cash flow). Terminal growth is capped at 6% (≈ nominal GDP) regardless of the required return. This is an analytical tool, not investment advice.
Guides on how to read this kind of business and the numbers that matter.