HINDUSTAN AERONAUTICS

Growth Drivers: Manufacturing pipeline kicking in, delivery ramp-up in LCA Mk1A Past Performance: 8% revenue CAGR over five years driven by RoH orders FY25 Performance: Revenue grew 2% despite GE engine delays, mitigated by AL-31FP & RD-33 engine programs Order Book: ~Rs 2.5tn provides multi-year growth visibility