Hindustan Aeronautics Limited (HAL) announced its Q2 FY26 financial results, reporting a 10.5% year-on-year increase in net profit, even as its EBITDA declined by 5% due to higher operating costs. The company’s EBITDA margin dropped by 3.9 percentage points, reflecting pressure on profitability despite revenue growth.
Key Financial Highlights (Q2 FY26 vs Q2 FY25)
| Parameter | Q2 FY25 | Q2 FY26 | Change (YoY) |
| Revenue | ₹5,969 crore | ₹6,629 crore | +11% |
| Net Profit | ₹1,511 crore | ₹1,669 crore | +10.5% |
| EBITDA | ₹1,640 crore | ₹1,558 crore | -5% |
| EBITDA Margin | 27.4% | 23.5% | -3.9 percentage points |
Operating Performance
HAL’s revenue rose to ₹6,629 crore in Q2 FY26, up from ₹5,969 crore a year earlier, driven by continued progress across its defence and aerospace programs. However, EBITDA declined to ₹1,558.4 crore, indicating rising input costs and execution challenges across several projects.
The EBITDA margin for the quarter fell to 23.5%, compared to 27.4% in Q2 FY25. For the first half of FY26, HAL’s average EBITDA margin stood at 24.81%, which remains below its full-year guidance of 31%.
Summary
Hindustan Aeronautics Limited (HAL) reported Q2 FY26 revenue of ₹6,629 crore, up 11% YoY, and net profit of ₹1,669 crore, up 10.5% YoY. However, EBITDA fell 5% to ₹1,558 crore, and the EBITDA margin dropped by 3.9 percentage points to 23.5%, indicating pressure from rising operating costs. The company’s first-half margins remain below its annual target, suggesting sustained cost and execution challenges.
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