Latest news with #TejasMk-1A
Business Upturn
3 days ago
- Business
- Business Upturn
Hindustan Aeronautics shares in focus as Tejas Mk-2 rollout gets delayed to 2026
Shares of Hindustan Aeronautics Ltd (HAL) slipped over 1% on Tuesday to ₹4,994.50 after fresh updates from the Paris Airshow revealed further delays in the rollout timeline for the much-anticipated Tejas Mk-2 fighter jet. According to HAL Chairman Dr. DK Sunil, as shared in an interview with aviation journalist Atul Chandra, the structural assembly of the first Tejas Mk-2 prototype is currently underway, but the aircraft's rollout is now targeted for 2026—pushing back earlier expectations. The stock came under pressure despite HAL's parallel announcement that two existing production lines for Tejas Mk-1A are already operational in Bengaluru, with a third one being established in Nashik. This is aimed at ramping up production capacity to 24 aircraft annually. The first Mk-1A from this third line is expected in 2025. Our dear friend, aviation enthusiast and cheerful Atul Chandra @CheckSix_Bison , Editor at GBP Daily News (Show dailies from the Paris Airshow) just interviewed HAL Chairman Dr. DK Sunil (in Pix 1). Some important takeaways! LCA Mk.1A: HAL has established two production lines… — Vayu Aerospace Review (@ReviewVayu) June 18, 2025 HAL's market cap currently stands at ₹3.34 lakh crore. The delay in the Mk-2 project, seen as a strategic defence initiative, could impact medium-term sentiment, even though the broader outlook for HAL remains robust amid increasing defence indigenisation.
Economic Times
11-06-2025
- Business
- Economic Times
HAL, BEL, Mazagon Dock among Antique's top defence picks as Rs 16 trillion order pipeline boosts outlook
Hindustan Aeronautics Ltd Bharat Electronics Live Events Mazagon Dock PTC Industries Sector Tailwinds: Orders, capex and indigenisation (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Riding on the back of India's massive Rs 16 trillion domestic defence procurement pipeline and an accelerated push for indigenisation, Hindustan Aeronautics HAL ), Bharat Electronics (BEL), and Mazagon Dock Shipbuilders have emerged as top stock picks in Antique Stock Broking's latest sector brokerage sees these state-run giants as best positioned to capitalise on the strong order inflows and expanding manufacturing capacities amid India's intensified focus on defence self-reliance and remained bullish on HAL, highlighting its dominant position in the defence aerospace segment and a strong revenue outlook linked to modernisation plans by the Indian Air Force (IAF). The brokerage pointed to the opportunity for over 300 new aircraft orders over the next 10–15 years, including Tejas Mk-1A, Mk-II, and the fifth-generation AMCA execution capacity, which had been constrained by delays in engine supply from GE, is expected to improve significantly. 'GE has delivered the first engine to HAL in the first quarter of FY26 and is expected to deliver 12 more in FY26,' the brokerage said, adding that 'consistent supply from GE can lead to IAF placing an incremental order for 97 Tejas Mk-1A aircrafts.'Antique values HAL at 40x FY27 estimated EPS, with a target price of Rs 6,545, up from its current market price of Rs 5, Electronics Ltd (BEL), a long-time leader in defence electronics, is another preferred play. 'BEL is in a sweet spot given the sharp increase in spending on missile systems like QRSAM and MRSAM where BEL will act as a system integrator,' Antique said.A Rs 300 billion QRSAM order is expected to be finalised in the fourth quarter of FY26, with an additional Rs 270 billion in orders also expected, potentially taking total inflows beyond Rs 570 billion in FY26 alone. To support this, BEL is planning an annual capex of Rs 7–8 billion over the next 3–4 brokerage maintained a 'buy' with a price target of Rs 422, valuing BEL at 45x FY27 estimated Dock Shipbuilders has been highlighted as a key beneficiary of India's naval expansion, given its unmatched capability in building both submarines and large surface warships. A fresh order for three Scorpene-class submarines is expected shortly, which 'can potentially more than double the company's order book,' according to also sees strong prospects in the P75I (Rs 700 billion) and P17B (Rs 700 billion) frigate programs. The brokerage has maintained a 'buy' on the stock, at a target price of Rs 3,858, citing the order book could grow to Rs 1.5 trillion by FY27—14 times its FY25 revenue. PTC Industries rounds off the top picks, with Antique praising the company's progress on its Strategic Material Technology Complex in Lucknow. Through subsidiary Aerolloys Technologies, PTC is developing one of the world's largest single-site titanium recycling and remelting estimated a 10–20x revenue growth over the next five to six years. 'Given the high growth visibility and significant value addition with a potential of +50% EBITDA margin, PTC Industries is well poised to post a profit of Rs 9.4 billion in FY28 and Rs 17.3 billion in FY30 from a base of Rs 0.4 billion in FY24,' the brokerage underscored a structural opportunity unfolding in India's defence manufacturing ecosystem. With 75% of FY24–25's capital budget earmarked for domestic procurement, India has committed to 'Atmanirbharata' (self-reliance) not only as an import substitution measure but also as a strategic Defence Acquisition Council has approved procurements worth Rs 8.5 trillion over FY23–25, nearly equal to approvals during the entire decade from FY12 to FY21. HAL, BEL, and Mazagon Dock are expected to be major beneficiaries of large finalisations in FY26, including orders for Tejas Mk-1A aircraft, Scorpene submarines, QRSAM missile systems, and advanced light strong revenue and earnings visibility, sector-wide capacity expansion, and increasing private sector involvement, Antique believes the Indian defence and aerospace sector is at an inflexion point.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
11-06-2025
- Business
- Time of India
HAL, BEL, Mazagon Dock among Antique's top defence picks as Rs 16 trillion order pipeline boosts outlook
Hindustan Aeronautics Ltd Bharat Electronics Live Events Mazagon Dock PTC Industries Sector Tailwinds: Orders, capex and indigenisation (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Riding on the back of India's massive Rs 16 trillion domestic defence procurement pipeline and an accelerated push for indigenisation, Hindustan Aeronautics HAL ), Bharat Electronics (BEL), and Mazagon Dock Shipbuilders have emerged as top stock picks in Antique Stock Broking's latest sector brokerage sees these state-run giants as best positioned to capitalise on the strong order inflows and expanding manufacturing capacities amid India's intensified focus on defence self-reliance and remained bullish on HAL, highlighting its dominant position in the defence aerospace segment and a strong revenue outlook linked to modernisation plans by the Indian Air Force (IAF). The brokerage pointed to the opportunity for over 300 new aircraft orders over the next 10–15 years, including Tejas Mk-1A, Mk-II, and the fifth-generation AMCA execution capacity, which had been constrained by delays in engine supply from GE, is expected to improve significantly. 'GE has delivered the first engine to HAL in the first quarter of FY26 and is expected to deliver 12 more in FY26,' the brokerage said, adding that 'consistent supply from GE can lead to IAF placing an incremental order for 97 Tejas Mk-1A aircrafts.'Antique values HAL at 40x FY27 estimated EPS, with a target price of Rs 6,545, up from its current market price of Rs 5, Electronics Ltd (BEL), a long-time leader in defence electronics, is another preferred play. 'BEL is in a sweet spot given the sharp increase in spending on missile systems like QRSAM and MRSAM where BEL will act as a system integrator,' Antique said.A Rs 300 billion QRSAM order is expected to be finalised in the fourth quarter of FY26, with an additional Rs 270 billion in orders also expected, potentially taking total inflows beyond Rs 570 billion in FY26 alone. To support this, BEL is planning an annual capex of Rs 7–8 billion over the next 3–4 brokerage maintained a 'buy' with a price target of Rs 422, valuing BEL at 45x FY27 estimated Dock Shipbuilders has been highlighted as a key beneficiary of India's naval expansion, given its unmatched capability in building both submarines and large surface warships. A fresh order for three Scorpene-class submarines is expected shortly, which 'can potentially more than double the company's order book,' according to also sees strong prospects in the P75I (Rs 700 billion) and P17B (Rs 700 billion) frigate programs. The brokerage has maintained a 'buy' on the stock, at a target price of Rs 3,858, citing the order book could grow to Rs 1.5 trillion by FY27—14 times its FY25 revenue. PTC Industries rounds off the top picks, with Antique praising the company's progress on its Strategic Material Technology Complex in Lucknow. Through subsidiary Aerolloys Technologies, PTC is developing one of the world's largest single-site titanium recycling and remelting estimated a 10–20x revenue growth over the next five to six years. 'Given the high growth visibility and significant value addition with a potential of +50% EBITDA margin, PTC Industries is well poised to post a profit of Rs 9.4 billion in FY28 and Rs 17.3 billion in FY30 from a base of Rs 0.4 billion in FY24,' the brokerage underscored a structural opportunity unfolding in India's defence manufacturing ecosystem. With 75% of FY24–25's capital budget earmarked for domestic procurement, India has committed to 'Atmanirbharata' (self-reliance) not only as an import substitution measure but also as a strategic Defence Acquisition Council has approved procurements worth Rs 8.5 trillion over FY23–25, nearly equal to approvals during the entire decade from FY12 to FY21. HAL, BEL, and Mazagon Dock are expected to be major beneficiaries of large finalisations in FY26, including orders for Tejas Mk-1A aircraft, Scorpene submarines, QRSAM missile systems, and advanced light strong revenue and earnings visibility, sector-wide capacity expansion, and increasing private sector involvement, Antique believes the Indian defence and aerospace sector is at an inflexion point.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Business Upturn
11-06-2025
- Business
- Business Upturn
Hindustan Aeronautics shares in focus today as helicopter fleet gets operational clearance post grounding
By Aditya Bhagchandani Published on June 11, 2025, 09:38 IST Shares of Hindustan Aeronautics Limited (HAL) were in focus on June 11, trading 0.47% higher at ₹5,135.90 in early hours, after both its Dhruv Advanced Light Helicopters (ALH) and Prachand Light Combat Helicopters were cleared for flying, as per TOI reports. The clearance comes months after a fatal ALH crash in Porbandar on January 5, which led to a complete grounding of HAL's rotary platforms across the Army, Air Force, Navy, and Coast Guard. The helicopters were cleared following the replacement of specific components, based on findings by a defect investigation committee. This clearance paves the way for resumed operations and deliveries, which HAL management previously said had impacted Q4 FY25 revenues and margins. With operations now restored, Q1 FY26 onwards is expected to reflect positive contributions from the helicopter segment. The Indian Army, which has over 180 ALHs including 60 weaponised versions (Rudra), was the most affected by the grounding. The Indian Air Force operates 75 ALHs, the Navy 24, and the Coast Guard 19. Additionally, the IAF has 10 Prachand choppers while the Army has five. Notably, in March 2025, the Defence Ministry signed a ₹62,700 crore contract for 156 Prachand helicopters, with 90 units allotted to the Army and 66 to the IAF. Brokerage View According to Antique Broking, Hindustan Aeronautics (Rating: Buy, Target Price: ₹6,545) is set to be a key beneficiary of India's long-term air force modernisation strategy. With the Indian Air Force looking to expand from 32 to 42 squadrons, over 300 new aircraft may be required in the coming years. HAL is well-positioned to capture this opportunity with indigenous platforms like the Tejas Mk-1A, Mk-II, and the fifth-generation AMCA. Production challenges due to delays in engine deliveries from GE are also easing. The first engine was delivered in Q1 FY26, and 12 more are expected within the fiscal year. The execution of the 83-aircraft Tejas Mk-1A order is now expected to accelerate, with prospects of a follow-on order for an additional 97 jets. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
India Today
03-06-2025
- Business
- India Today
After Air chief's rap on delays, HAL set to hand over Tejas Mk-1A this month
Days after Indian Air Force (IAF) chief Air Chief Marshal Amar Preet Singh voiced concern over repeated delays in defence projects, sources said Hindustan Aeronautics Ltd (HAL) is set to deliver the first Tejas Mk-1A fighter jet from its Nashik facility by the end of Nashik line is HAL's third Tejas production facility after two existing lines in Bengaluru, and is intended to accelerate the indigenous fighter jet programme that has fallen behind schedule due to multiple in the supply of F404 engines from US-based GE Aerospace have pushed the Tejas Mk-1A programme over a year past its original timeline. The Indian Air Force, which signed a Rs 48,000 crore contract in February 2021 for 83 Tejas Mk-1A jets, was originally slated to receive the first aircraft by March 31, 2024. 'The timeline is a big issue,' Air Chief Marshal Singh said last week at the CII Annual Business Summit 2025. 'So, once a timeline is given, not a single project that I can think of has been completed on time. So this is something we must look at. Why should we promise something which cannot be achieved? While signing the contract itself, sometimes we are sure that it is not going to come up, but we just sign the contract.'advertisementSingh's barbed remarks came nearly three months after he publicly rebuked HAL officials over persistent delays in Tejas Mk-1A deliveries. The Air Force has since urged HAL to expedite production and widen its private sector collaboration, particularly for key components like HAL line—Bengaluru and Nashik—has the capacity to produce up to eight aircraft per year, subject to engine flight trials are completed, the first Nashik-built Tejas Mk-1A will be formally handed over to the IAF, marking a key milestone in the indigenous fighter's production Air Force chief has stressed the importance of timely induction of new technologies into the military, especially in the context of rapidly evolving warfare paradigms involving drones and AI-enabled platforms.
