- 16 May 2022
- ICICIdirect Research
HAL POSTS Q4FY22 NUMBERS
HAL - 4628 Change: 8.75 (0.19 %)News: HAL reported 6.4% revenue growth for Q4FY22 to Rs. 11,561 crore and 7.6% YoY for FY22, better than the provisional numbers announced in April. However, the revenues include one-off of Rs 1,276 crore related to pricing variation of one old contract. EBITDA margin at 21.6%; lower than 25% in Q4FY21 as higher other cost negated the impact of better gross margins. PAT came at Rs. 3,105 crore; up 91% YoY led by higher other income and tax refunds to the tune of Rs. 1,456 crore
Views: HAL’s order book position is at over ~Rs. 80,000 crore, which provides strong earnings visibility. Given the government’s strong push towards indigenisation and having large scale of orders in hand (Aircrafts and Helicopters) with strong repair & overhaul pipeline, HAL prospects look better as the order book is expected to further increase in the coming period
Impact: Positive