opened FY27 with a 14.4% year-over-year revenue increase to ₹5,515 crore and an EBITDA margin expansion of 107 basis points to 27.6%, yielding a net profit of ₹1,590 crore. Massive Order Book Visibility: The company commands a ₹2.54 lakh crore order book—nearly eight times its annual revenue—anchored by major indigenous defence platforms like the Tejas Mk-1A, Light Combat Helicopter (LCH), and Dornier Do-228 aircraft. Easing Engine Supply Bottlenecks: Engine deliveries for the critical Tejas Mk-1A fighter jet are normalizing, with GE committed to supplying 20–22 F404 engines by late 2026, enabling HAL to target 25 aircraft deliveries by March 2027. Substantial Pipeline & Inflows: Fresh order inflows of roughly ₹90,000 crore are projected across FY27–FY28, supported by aircraft upgrades, new trainer/helicopter procurement, and long-term projects like the Twin Engine Deck Based Fighter (TEDBF). Strategic Capacity Expansion: To match growing demand, engine manufacturing capacity is set to increase from 24 to 30 units annually by FY28, backed by planned R&D and capital expenditure investments of ₹12,000 crore through 2030. Margin-Boosting MRO Pivot: Profitability is projected to strengthen as revenue gradually shifts from a 30:70 manufacturing-to-MRO ratio toward a balanced 50:50 mix, driven by long-term fleet support contracts like the Su-30MKI localization program.

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