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HAL Q2FY26 Results: Defence PSU Hindustan Aeronautics Ltd (HAL) on Wednesday reported a 10 per cent year-on-year (YoY) rise in consolidated net profit for the July–September quarter of FY26.

The company’s profit after tax (PAT) came in at Rs 1,669.07 crore, up from Rs 1,510.48 crore in the same period last year. However, the figure was below Zee Business Research’s estimate of Rs 1,711 crore.

HAL’s consolidated revenue from operations rose 10.9 per cent YoY to Rs 6,628.61 crore, compared with Rs 5,976.29 crore a year ago. The topline was largely in sync with Zee Business Research’s forecast of Rs 6,613 crore.

Operational performance was softer than expected, with EBITDA at Rs 1,557.89 crore, below the projected Rs 1,796 crore. The EBITDA margin stood at 23.5 per cent, significantly lower than both 27.4 per cent a year ago and the estimated 27 per cent, impacted by higher provisioning and other expenses.

Analysts had earlier highlighted that margins could see a mild decline this quarter, given the uptick in costs and working capital requirements.

Market watchers now expect HAL’s management to share an update on the delivery schedule of the Tejas Mk1A aircraft, where progress remains slower than planned. Only about seven Tejas deliveries are expected by the end of FY26, according to research estimates.

Attention will also be on the GE engine delivery pipeline, with four units already supplied, and on developments related to the Su-30 avionics upgrade project.

Senior Sub-editor at Zee Business English

shweta.shukla@India.com

Shweta Birendra Shukla is a journalist covering the stock market and corporate aff