Hindustan Aeronautics Limited

LISTED

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Issue Price

₹1,215 – ₹1,240

Listed On

28 Mar 2018

Listing Price

₹1,152 (-7.10%)

Current Price LIVE

₹1,152 (-7.10%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail (Min)	1	12	₹14,880
Retail (Max)	13	156	₹1,93,440
S-HNI (Min)	14	168	₹2,08,320
S-HNI (Max)	67	804	₹9,96,960
B-HNI (Min)	68	816	₹10,11,840

Retail: ≤ ₹2L • S-HNI: ₹2L–₹10L • B-HNI: > ₹10L Cap Price: ₹1,240/sh

As per financials, company's growth is good, RoNW is 17.67% for last three fiscals and issue is priced at P/E of around 17 as per FY17 earnings. HAL is largest defence PSU and with focus of GoI for Make In India, this company will get benefited. So we give SUBSCRIBE rating to this IPO.

As on Date	QIB	NII	RII	Employee	Total
Shares Offered / Reserved	1,67,19,374	50,15,813	1,17,03,563	6,68,775	3,41,07,525
Day 1 18-03-16	0.43	0.01	0.07	0.03	0.23
Day 2 18-03-19	0.77	0.01	0.21	0.12	0.45
Day 3 18-03-20	1.73	0.03	0.38	0.22	0.99

Started in 1963, Hindustan Aeronautics Limited, is a "Navratna" company of Government Of India and engaged in the design, development, manufacture, repair, overhaul, upgrade and servicing of a wide range of products including, aircraft, helicopters, aero-engines, avionics, accessories and aerospace structures. HAL's operations are organized into five complexes, namely the Bangalore Complex, MiG Complex, Helicopter Complex, Accessories Complex, and Design Complex, which together include 20 production divisions and 11 research and design centers ('R&D Centers') located across India. Company relies on indigenous research as well as enter into technology transfer and license agreements to manufacture its products. In addition, HAL has entered into 13 commercial joint ventures to grow its operations. HAL's biggest customer is Indian Defense Services, which accounted for 93.3%, 94.2% and 92.6% of its total sales in the Financial Years 2017, 2016 and 2015, respectively. HAL also sells its products and provide services to state governments, para-military forces and corporates. In addition, during the Financial Year 2017, company exported its products and services, primarily spares, to more than 13 countries which contributes 2.6% and 2.7% of its total revenue from operations (net of excise duty) for FY17 and FY16 respectively. On performance front, HAL has posted turnover/net profits of Rs. 17362.0 cr. / Rs. 929.0 cr. (FY15), Rs. 18,757.8 cr. / Rs. 2011.1 cr. (FY16) and Rs. 19,596.9 cr. / Rs. 2630.8 cr. (FY17). For H1 of FY18, it has reported net profit of Rs. 384.5 cr. on a turnover of Rs. 5665.9 cr. Thus company has posted healthy growth over last couple of years on consistent basis. HAL has posted an average EPS of Rs. 54 and average RoNW of 17.67% for last three fiscals. Issue is priced at a P/BV of 3.46 as per NAV of 358 on 30.09.17. It has no listed peers to compare with as per DRHP. If we attribute latest earnings on fully diluted equity post issue, then asking price is at a P/E of around 54 and if we consider earnings of FY17, then P/E is around 17. As per RHP, revenue from operations is cyclic and second half generates major revenue from operations. So issue looks reasonably priced as per FY17 earnings. As per financials, company's growth is good, RoNW is 17.67% for last three fiscals and issue is priced at P/E of around 17 as per FY17 earnings. HAL is largest defence PSU and with focus of GoI for Make In India, this company will get benefited. So we give SUBSCRIBE rating to this IPO.

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Disclaimer

No financial information whatsoever published herein, should be construed as an offer to buy or sell securities, or as information to make investment decisions, or as an official confirmation of any transaction. All matter published herein is purely for educational and informational purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

💬 Community Discussion

50 Comments

M
Madhav 17 Sep 2021, 23:33

okay sir and please give some best scripts name that soon give profit
I
IPO Guru 30 Aug 2021, 17:29

@Madhav, one may exit and book profit.
M
Madhav 30 Aug 2021, 15:14

now it has been touched 1400
M
Madhav 30 Aug 2021, 15:13

HAL can hold or sell guru ji?
J
jayesh 22 Jul 2021, 18:34

Mindteck serves industries like Healthcare, Life sciences, Medical devices, Manufacturing, Industrial automation, Semi conductor (Semi conductor shortages which are very very highly uses for automobiles sector and EV (Electrical Vehicles) sector and many more) and storage and energy and many more Mindteck does all 5G internet services and wireless and lo T (internet of things) and 5G enabled connected devices and IT security so tremendous growth potential stock so buy
M
Madhav 19 May 2021, 09:57

can hold or sell?
I
IPO Guru 16 Aug 2020, 11:16

It's news base momentum and also result supported it, profit should be booked near to 1400 and any fall towards 900 should be considered buying opportunity.
A
Alpesh 16 Aug 2020, 11:05

Now HAL should hold our sell?? Allotted price at 1190/- And current price at 1290/- Kindly suggest
M
Madhav 13 Aug 2020, 14:46

HAL hold or sell ? because now it is touching actual price.
L
lakhan 23 Oct 2019, 01:13

holding since ipo price
L
lakhan 23 Oct 2019, 01:12

can we sell or still hold?
V
vipul 17 Apr 2019, 18:39

dada isame kya karu, hold or sellout
V
vivek 09 Apr 2019, 10:55

OK thank you
I
IPO Guru 09 Apr 2019, 10:39

it's one of the biggest disappointment of last year. Company is good, valuations are also very reasonable, but it's not giving returns. As of now view is HOLD on this stock.
V
vivek 03 Apr 2019, 19:52

IPO guruji any view on this share ??? holding since IPO listing .......
D
divy 01 Sep 2018, 01:30

Orr kab ayegaa up ??
D
divy 01 Sep 2018, 01:30

long time ke liye kesaa haii??
I
IPO Guru 30 Aug 2018, 21:20

start accumulating at 800
M
Madhav 30 Aug 2018, 21:02

sell in 800 ?????
I
IPO Guru 30 Aug 2018, 21:01

around 800
U
Ujjwal 30 Aug 2018, 10:16

@ipoguru sir ye aur neche jayega ya avi one can acumalate...
V
vicky 28 Aug 2018, 15:14

@ipoguru hold or sell??
M
Madhav 30 Jul 2018, 15:25

hal is now 891 RS it's improving fast.
V
vicky 19 Jul 2018, 12:15

798 tak chala gya hai @ipoguru
I
IPO Guru 10 Jul 2018, 14:59

6-12 months
M
madhav 09 Jul 2018, 12:56

how many years have to hold?
I
IPO Guru 09 Jul 2018, 12:52

its almost 35% down from its issue price and its performance not up to mark. But out view is of hold on this stock.
U
Ujjwal 09 Jul 2018, 12:38

@ipoguru sir its below 825. what to do???
M
madhav 06 Jul 2018, 10:18

HAL hold or sell?
I
IPO Guru 26 Jun 2018, 12:40

yeah it can move downward also, but should not go below 825 to 850
D
Deval 25 Jun 2018, 16:14

ab to ye 900 se bhi niche ja raha he
V
vicky 24 Jun 2018, 13:20

@ipoguru means up aaye gaa to sai naa aise nai or be low ho jaye
I
IPO Guru 23 Jun 2018, 11:04

need to wait 6-12 months for moving toward issue price.
V
vicky 23 Jun 2018, 00:01

@ipoguru 900 se be down gya aaj up hoye gaa ke loss karke sale kr de??
I
IPO Guru 22 Jun 2018, 11:31

it may be also good as for this stock one should give more 6-12 months.
T
tushar 22 Jun 2018, 11:22

shouldnt we sell this n go for something more dynamic like jubliant foodworks..?? pls reply
I
IPO Guru 13 Jun 2018, 14:40

hold and forget it from at least 6 months.
R
rakesh 12 Jun 2018, 13:19

ipo guru....every day making new 52w low.....kya kare
I
IPO Guru 24 May 2018, 18:49

its good company, so just hold it.
V
vicky 24 May 2018, 14:45

Rate day to day down ho rhe hai up kabi aaye gee @ipoguru
I
IPO Guru 17 May 2018, 15:48

at least 50-70%
U
Ujjwal 17 May 2018, 10:15

Ipo guru after 1-3 year min how much profit can be expected
I
IPO Guru 15 May 2018, 12:19

its range bound moment.
V
vivek 14 May 2018, 22:12

every day going down, any reason???
I
IPO Guru 27 Apr 2018, 11:24

@Darpan, thanks
D
darpan 26 Apr 2018, 20:47

INDOSTAR CAPITAL FINANCE LTD. Date: 09-05-2018 to 11-05-2018 Size : Around. 2000 Crores
I
IPO Guru 13 Apr 2018, 11:56

3-5 years idea, but minimum 1-3 years.
P
parth 13 Apr 2018, 11:56

what shall be the holding period for HAL
I
IPO Guru 13 Apr 2018, 11:53

hold
S
SABYASACHI 12 Apr 2018, 18:26

guru what about HAL

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Period	Total Income	Total Expenses	Profit After Tax (PAT)
H1 FY 18	5,665.90	5,057.60	384.50
FY17	19,596.90	16,021.90	2,630.80
FY16	18,754.80	15,553.40	2,011.10
FY15	17,362.00	15,688.60	929.00

Open Date	Mar 16, 2018
Close Date	Mar 20, 2018
Allotment Date	Mar 26, 2018
Listing Date	Mar 28, 2018
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 1,215 to ₹ 1,240 Per Equity Share
Retail Min Lot	1 Lot (12 Shares - ₹ 14,880)
Registrar	Karvy Computershare Private Limited
Lead Manager	Axis Capital Limited, SBI Capital Markets Limited

Hindustan Aeronautics Limited

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