Rs 81,784 crore order book: This multibagger aerospace & defence company signs an MoU with Safran Aircraft Engines!
The stock is up by 50 per cent in just 1 year, 180 per cent in 2 years and a whopping 430 per cent in 3 years.
Hindustan Aeronautics Ltd (HAL) and Safran Aircraft Engines signed a Memorandum of Understanding (MoU) to develop industrial cooperation in ring forging manufacturing for commercial anginas. HAL will produce LEAP (Leading Edge Aviation Propulsion. powering Airbus A320 Neo family and Boeing 737 Max) engine forgings at its foundry a forge facility in Bengaluru as part of the MoU.
The MoU was signed by Mr Mihir Kanti Mishra. CEO (Bangalore Complex) HAL and Mr Dominique Dupuy. Senior Vice President (Purchasing) Safran Aircraft Engines in Bengaluru in the presence of key officials from both companies.
Today, shares of Hindustan Aeronautics Ltd plunged 1.06 per cent to Rs 1,834.50 per share from its previous closing of Rs 1,854.1 with an intraday high of Rs 1,869.95 and an intraday low of Rs 1,830.70.
Earlier, the company ex-date for the stock split stock split, dividing each existing Rs 10 equity share into two Rs 5 equity shares. Additionally, the company paid a final dividend of Rs. 15 per share on August 24, 2023.
According to the Quarterly Results, the net sales increased by 8.06 per cent to Rs 3,915 crore and net profit increased by 34.10 per cent to Rs 814 crore in Q1FY24 compared to Q1FY23. The net sales increased by 9.37 per cent to Rs 26,927 crore and the net profit increased by 14.25 per cent to Rs 5,828 crore in FY23 compared to FY22. The company has a market cap of Rs 1,30,000 crore and has been maintaining a healthy dividend payout of 29.6 per cent.
The company's order book position is maintained at Rs 81,784 crore with the receipt of fresh manufacturing contracts, ROH and spare orders with continued budget allocation from the customer’s cash and the bank balance position has improved to Rs 20,306 crore.
The stock has a PE of 20x, an ROE of 27.2 per cent and an ROCE of 28 per cent. The stock is up by 50 per cent in just 1 year, 180 per cent in 2 years and a whopping 430 per cent in 3 years. Investors should keep an eye on this multibagger Large-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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