FY27 Could Be

HAL

Takeoff Year

Despite a muted Q4FY26 with weak margins and delayed Tejas Mk1A deliveries weighing on sentiment, analysts believe

could see a stronger FY27 as engine supply issues ease and aircraft deliveries accelerate. While Q4 revenue grew only 1.7% YoY and profitability remained under pressure from rising material costs, the company still reported a 5.5% rise in net profit aided by higher other income. Brokerages see FY27 as a potential inflection point for HAL, driven by execution recovery, defence demand, and a robust order pipeline