Name: Latest research reports of Hindustan Aeronautics Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Hindustan Aeronautics Ltd.
Rating: 5
Author: ICICI Securities Limited

Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report	Discuss
	08 Sep 2025	Hindustan Aeronautics	Consensus Share Price Target	4404.80	5620.18	-	27.59	buy	pdf Detailed Estimates
	10 Feb 2023	Hindustan Aeronautics	ICICI Securities Limited Target	4404.80	2850.00	2402.95 (83.31%)	Target met	Buy	pdf post cache	Broker Report A ‘blip-quarter’; bigger picture remains intact ICICI Securities Limited Hindustan Aeronautics’ (HAL) Q3FY23 performance was subdued owing to lower margins and below-expected revenue growth. Key highlights: 1) EBITDA margin declined to 17.4%, well below the 25-26% guidance for FY23-FY25 mainly due to higher provisions and other expenses. pdf Copy Link Share on Share on Share on Share on Alert
	10 Feb 2023	Hindustan Aeronautics	ICICI Direct	4404.80	3300.00	2402.95 (83.31%)	Target met	Buy	pdf post cache	Broker Report Hindustan Aeronautics ICICI Direct pdf Copy Link Share on Share on Share on Share on Alert
	16 Nov 2022	Hindustan Aeronautics	ICICI Securities Limited	4404.80	3170.00	2681.15 (64.29%)	Target met	Buy	pdf post cache	Broker Report Strong orderbook visibility ICICI Securities Limited We attended Hindustan Aeronautics’ (HAL) Q2FY23 earnings call. Key highlights: 1) RoH and spares proportion to stay elevated till FY24E; 2) EBITDA margin is likely to stay at 26-27% owing to higher RoH revenue and cost efficiencies. pdf Copy Link Share on Share on Share on Share on Alert
	16 Nov 2022	Hindustan Aeronautics	ICICI Direct Target	4404.80	3300.00	2681.15 (64.29%)	Target met	Buy	pdf post cache	Broker Report Hindustan Aeronautics ICICI Direct pdf Copy Link Share on Share on Share on Share on Alert
	14 Nov 2022	Hindustan Aeronautics	ICICI Securities Limited Target	4404.80	3170.00	2490.25 (76.88%)	Target met	Buy	pdf post cache	Broker Report Robust margins, robust orderbook ICICI Securities Limited Hindustan Aeronautics (HAL) reported strong performance in Q2FY23. Key highlights: 1) EBITDA margin at 31% was ahead of the 25-26% guidance for FY23- FY25. pdf Copy Link Share on Share on Share on Share on Alert
	30 Aug 2022	Hindustan Aeronautics	ICICI Direct Target	4404.80	2860.00	2377.50 (85.27%)	Target met	Buy	pdf post cache	Broker Report Hindustan Aeronautics ICICI Direct pdf Copy Link Share on Share on Share on Share on Alert
	30 Aug 2022	Hindustan Aeronautics	ICICI Securities Limited Target	4404.80	2665.00	2295.20 (91.91%)	Target met	Buy	pdf post cache	Broker Report Strong order visibility and competitive positioning ICICI Securities Limited Hindustan Aeronautics (HAL) highlighted visibility on orders worth ~Rs1,500bn over next three years, with Rs450bn of manufacturing orders expected in FY23- H1FY24. pdf Copy Link Share on Share on Share on Share on Alert
	15 Aug 2022	Hindustan Aeronautics	ICICI Securities Limited	4404.80	2618.00	2270.20 (94.03%)	Target met	Buy	pdf post cache	Broker Report RoH drives outperformance in Q1FY23 ICICI Securities Limited Hindustan Aeronautics’ (HAL) Q1FY23 result was better than expected with revenue growth of 124.2% YoY and PBT increasing 203.8% YoY. pdf Copy Link Share on Share on Share on Share on Alert
	29 Jun 2022	Hindustan Aeronautics	ICICI Direct	4404.80	2200.00	1801.00 (144.58%)	Target met	Buy	pdf post cache	Broker Report Bharat Dynamics ICICI Direct pdf Copy Link Share on Share on Share on Share on Alert
	29 Jun 2022	Hindustan Aeronautics	ICICI Direct	4404.80	2200.00	1783.70 (146.95%)	Target met	Buy	pdf post cache	Broker Report Hindustan Aeronautics ICICI Direct pdf Copy Link Share on Share on Share on Share on Alert
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44.61% Gain from 52W Low

Hindustan Aeronautics Ltd. share price target

Hindustan Aeronautics Ltd. has an average share price target of 5528.33. The consensus estimate represents an upside of 25.51% from the last price of 4404.80. View 13 reports from 6 analysts offering long-term price targets for Hindustan Aeronautics Ltd..

A ‘blip-quarter’; bigger picture remains intact

Hindustan Aeronautics

Strong orderbook visibility

Hindustan Aeronautics

Robust margins, robust orderbook

Hindustan Aeronautics

Strong order visibility and competitive positioning

RoH drives outperformance in Q1FY23

Bharat Dynamics

Hindustan Aeronautics

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