HAL Q2 Results Date FY27: Declared 12 Nov, Profit Rs 1,936 Cr

Earnings · Defence · HAL · Q2 FY27 results declared

The HAL Q2 results date was Thursday, 12 November 2026, and the numbers are out: consolidated net profit of Rs 1,936 crore (+16%), revenue of Rs 7,613 crore (+15%) and an EBITDA margin of 22.85%, down from 23.51%. This page keeps the date, the profit base and the data conflicts, and links to the full HAL Q2 results FY27 analysis.

Updated: Thursday, 12 November 2026, 3:00 PM IST | Reading time: 21 min | Next update: when the exchange filing is read or the next quarterly results are out

Latest update (Thursday, 12 November 2026, 3:00 PM IST): HAL reported Q2 FY27 consolidated results on Thursday, 12 November 2026, with the first reports at about 1:29 PM IST during market hours. I have not opened the exchange filing, and I did not find a dividend announcement or an official closing price. The earlier preview marks below are kept so the result can be checked against them.

In plain words: Hindustan Aeronautics Limited (HAL) is the state-owned maker of fighter jets, helicopters and aero-engines, and it earns most of its revenue by delivering aircraft, so profit swings with delivery timing. It also earns a large amount of other income on its cash. This page gives the date, the profit base, the reported Q2 FY27 numbers and the open conflicts.

Data note: as of 12 November 2026, 3:00 PM IST. Q2 FY27 figures are consolidated and come from Upstox, Business Upturn and Sahi (12 November 2026); the date from Stockport and MyAlgoMate calendars. Q1 FY27 figures come from Kotak Neo, Business World, NiftyTrader and PSU Connect (12 to 14 August 2026); Q2 FY26 figures from Upstox, Bajaj Broking and MyAlgoMate (12 November 2025); Tejas and share-price context from Business Standard (6 October 2026), StockGro, Whalesbook and 5paisa. I did not open the BSE or NSE filings. Sources disagree on some labels; each version is shown with its source. Derived figures are marked “my calculation”. If the filing differs from a source quoted here, the filing governs, and I will correct this page with a visible note.

What did HAL report on the HAL Q2 results date?

On the HAL Q2 results date, 12 November 2026, HAL reported consolidated revenue of Rs 7,613 crore (+14.8%), EBITDA of Rs 1,739 crore (+11.6%), an EBITDA margin of 22.85% and net profit of Rs 1,936 crore (+16.0%), per Upstox, Business Upturn and Sahi.

Cite this table: PositionalCalls, “HAL Q2 FY27 Results Against Preview Marks, as of 12 November 2026”; Q2 FY27 per Upstox, Business Upturn and Sahi.

The full line-by-line analysis, with estimates, the margin arithmetic, the order book and the share price, is in HAL Q2 results FY27. Here I keep the date, the base and the conflicts that the preview raised. Upstox does not define its “net income” line (Rs 8,602 crore against Rs 7,516 crore); I read it as total income, which is how I derive other income, and that reading is mine. The results are as reported by news sources: I have not opened the exchange filing, so please confirm on the BSE or NSE page.

When was the HAL Q2 results date and time?

The HAL Q2 results date was Thursday, 12 November 2026, for the quarter ended 30 September 2026. The first reports appeared at about 1:29 PM IST, while the market was open: Business Upturn 1:29 PM, Sahi 1:38 PM and Upstox 1:51 PM.

Stockport’s results calendar, updated on 10 November 2026, had said Hindustan Aeronautics told NSE on Tuesday, 27 October that the board would meet on 12 November, and MyAlgoMate listed the same date with the agenda “to consider and approve the financial results for the period ended September 30, 2026”. I could not open the exchange intimation, and I did not find the exact filing time, so the times above are the news reports’ timestamps, not the filing’s. I found no conflicting date for the HAL Q2 results date. The SEBI listing rules set a deadline of 14 November 2026, 45 days after quarter end, and Stockport notes HAL reported 43 to 45 days after quarter end in each of the last eight quarters; this time it reported on day 43 (my calculation).

HAL Q2 results date: what was confirmed and what was not

Cite this table: PositionalCalls, “HAL Q2 Results Date Table, as of 12 November 2026”.

See the Q2 results calendar for other dates. For how other state-run companies reported, see Coal India Q2 results FY27 and ONGC Q2 results FY27.

HAL profit base: what mark did Q2 FY27 have to clear?

The HAL profit base was the Q2 FY26 consolidated profit of Rs 1,669 crore on revenue from operations of Rs 6,629 crore and EBITDA of Rs 1,558 crore, with Q1 FY27 at Rs 1,590 crore profit on Rs 5,515 crore of revenue. Q2 FY27 profit of Rs 1,936 crore cleared it by 16.0%.

Cite this table: PositionalCalls, “HAL Profit Base Table, as of 11 November 2026”.

The HAL profit base was not demanding: Q1 FY27 profit of Rs 1,589.66 crore is only 4.8% below it (my calculation), and Q2 is HAL’s seasonally larger quarter. In Q2 FY26 revenue was 37.6% above Q1 and profit 20.6% above Q1 (my calculation). So a profit above Rs 1,669 crore was normal, and the question was how large the growth would be on the year; it was 16.0%, above the 14.9% of Q1. Revenue growth in Q1 FY27 was 14.4% and profit growth 14.9%.

Which HAL figures are right? EBITDA, profit base and order book

Use one source per quarter and check the base: Q1 FY27 EBITDA growth is 19% on a Rs 1,284 crore base in one report and 46.9% on a Rs 1,039 crore base in others, and the Q2 FY26 profit growth is 10.5% or 7.6% depending on the base.

Cite this table: PositionalCalls, “HAL Definitions Table, as of 11 November 2026”.

My calculation: both Q1 EBITDA sets tie to themselves. Rs 1,527 crore over Rs 5,515.17 crore is 27.69%, and Rs 1,284 crore over Rs 4,819.01 crore is 26.64%; Rs 1,039 crore over the same revenue is 21.56%. Because the two bases differ by Rs 245 crore (1,284 less 1,039), only one can be the company’s year-ago figure, and I could not tell which from the sources. For Q2 FY26 the Upstox set also ties: Rs 1,558 crore over Rs 6,628.61 crore is 23.50%, and Rs 1,640 crore over Rs 5,976.29 crore is 27.44%. A drop in EBITDA of 5% (Upstox) happened while profit rose, which points to other income, discussed below. My calculation: on the Rs 1,284 crore base, Q1 FY27 EBITDA rose Rs 243 crore; on the Rs 1,039 crore base it rose Rs 487 crore, a difference of Rs 244 crore that comes only from the year-ago figure. Match every new figure with the base from the same source. The exchange filing settles these questions; I have not opened it.

Another trap, my calculation: Upstox’s “net income” of Rs 7,516 crore for Q2 FY26 is total income, not profit. Less revenue of Rs 6,628.61 crore it leaves about Rs 887 crore, which looks like other income (my reading), and that is 39.9% of the Rs 2,226.98 crore profit before tax that Bajaj Broking reports. Quote the right line, and say whether it is total income, revenue or profit before tax.

How did the HAL results compare with estimates?

Business Upturn reports revenue 1.7% above, net profit 1.9% above and EBITDA 9.6% below a market estimate. A Zee Business preview headline had expected about 12% growth in both revenue and profit. I did not verify either estimate, and both are third-party opinions.

Cite this table: PositionalCalls, “HAL Q2 FY27 Estimates Against Results, as of 12 November 2026”; estimates are as reported and not verified.

The two estimate sets differ on profit by Rs 30 crore, which shows how much estimates vary by source; neither is a consensus I can verify. The sources I read do not say why profit beat while EBITDA missed; other income of about Rs 989 crore (derived) is one possible reason, and that inference is mine. The preview’s worked step, applying last year’s Q1 to Q2 seasonal step, gave revenue of about Rs 7,586 crore and profit of about Rs 1,918 crore; the reported figures were about 0.4% and 0.9% higher (my calculation).

One more reported view concerns Tejas: Jefferies, via Business Standard on 6 October 2026, said Tejas Mk1A is 43% of the order book. That is a third-party observation, not mine.

What drives HAL’s results: deliveries, Tejas, order book and other income

HAL’s results depend on deliveries recognised as revenue, with Tejas Mk1A the swing factor, an order book of about Rs 2.54 lakh crore and other income of about Rs 900 crore a quarter that supports profit.

Cite this table: PositionalCalls, “HAL Operating Drivers Table, as of 11 November 2026”.

My reading: Tejas Mk1A deliveries are the swing item for revenue recognition in the second half, while Q2 revenue rests on helicopters, engines and repair work, but I do not have a delivery split. StockGro says no Mk1A was formally delivered as of May and that seven GE F404 engines were in with ten more due before November; its article is undated, so I treat those counts as dated by the article only. The HAL Tejas deliveries Q2 FY27 count was the first thing to read on the HAL Q2 results date, before the profit number; the Q2 reports I read carry no delivery count, so I cannot say how many were delivered by September.

How did HAL shares react to results, including Q2 FY27?

HAL shares fell 2.51% to Rs 4,740.50 after the Q2 FY26 results, rose about 3% to Rs 5,055 intraday after Q1 FY27 and traded at Rs 4,835.10 at 1:40 PM on 12 November 2026, down 2.3% after the Q2 FY27 results (Upstox); that is about 6.1% below the 52-week high of Rs 5,149.90 (my calculation).

Cite this table: PositionalCalls, “HAL Share Price Reactions, as of 11 November 2026”.

The reaction on results day has gone both ways in the last three quarters, so the price move is not a guide to the numbers. These are past prices for context and not a view. On dividends, PSU Connect reports a total of Rs 45 a share for the previous year, Rs 35 interim already paid and Rs 10 final recommended and subject to shareholder approval; I found no interim dividend notice for FY27 with the Q2 results. For how dividends are taxed, see our dividend tax in India guide.

How did the actual profit compare with the sensitivity table?

Reported Q2 FY27 profit of Rs 1,936 crore was 1.0% above the top row of my preview sensitivity table (Rs 1,917 crore) and reported revenue of Rs 7,613 crore was 0.4% above the top revenue row (Rs 7,586 crore); EBITDA of Rs 1,739 crore was 2.5% below the grid cell for that revenue at a 23.5% margin (Rs 1,783 crore), my calculation. The table was a sensitivity range, not a forecast.

Assumptions: each row applies a stated change to the Q2 FY26 profit of Rs 1,669.05 crore; row E applies last year’s Q1 to Q2 profit step to Q1 FY27 profit; row F holds Q1 FY27 profit flat.

Cite this table: PositionalCalls, “HAL Q2 FY27 Profit Sensitivity, as of 11 November 2026”.

The second table multiplies three revenue levels by three EBITDA margins: the Q2 FY26 margin of 23.5%, a midpoint of 25.0% and the Q1 FY27 margin of 27.7%. Revenue levels are 10% above Q2 FY26, the 12% in the Zee headline, and the full seasonal step (+14.4%).

Cite this table: PositionalCalls, “HAL EBITDA Grid, as of 11 November 2026”.

These were not estimates. One percentage point of EBITDA margin on Rs 7,424 crore of revenue is Rs 74.2 crore (my calculation), so margin matters as much as revenue. The actual margin of 22.85% was below the lowest margin I tested (23.5%), so the grid’s margin axis was too high; judge released figures with the margin, not only the growth rate.

HAL Q2 results date decoder: what the filing answered

For the HAL Q2 results, the order to read was revenue and the profit basis, then EBITDA margin, other income, Tejas deliveries, order book and any dividend; the table after the marks shows what the reports answered.

Cite this table: PositionalCalls, “HAL Results-Day Decoder, as of 11 November 2026”.

Cite this table: PositionalCalls, “HAL Decoder Answers, as of 12 November 2026”; figures as reported, filing not opened.

How to read the HAL Q2 results and what to avoid

To check the HAL Q2 results, use the exchange filing and the company’s press release, and ignore any message that offers a result or a tip early.

1. Open the BSE or NSE announcements page for Hindustan Aeronautics and find the results filing.
2. Read the consolidated statement first, then the standalone one.
3. Find revenue, other income, EBITDA and profit, and compute the margin yourself.
4. Check the company’s comments on deliveries and the order book.
5. Compare each line with the decoder.
6. Note any dividend and the AGM or record dates.

What most people miss about the HAL Q2 results date

Analyst’s note on the HAL Q2 results date and base

Part of the Earnings series.

HAL Q2 results date: frequently asked questions

Sources

• Upstox, HAL Q2 FY27 results (12 November 2026)
• Business Upturn, HAL Q2 results and estimates (12 November 2026)
• Sahi, HAL Q2 consolidated net profit (12 November 2026)
• Whalesbook, HAL Tejas Mk-1A delivery and order book (23 July 2026)
• PositionalCalls, HAL Q2 results FY27 analysis
• Stockport, HAL Q2 FY27 results calendar (updated 10 November 2026)
• MyAlgoMate, HAL Q2 FY27 results calendar and filings table
• Kotak Neo, HAL Q1 FY27 results (12 August 2026)
• Business World, HAL Q1 profit (August 2026)
• NiftyTrader, HAL Q1 FY27 results (12 August 2026)
• PSU Connect, HAL Q1 net profit and dividend
• StockGro, HAL Q1 FY27 Tejas ramp (undated within the article)
• Upstox, HAL Q2 FY26 earnings (12 November 2025)
• Bajaj Broking, HAL Q2 FY26 results
• Business Standard, HAL shares rise on Shakti engine line (6 October 2026)
• Zee Business, HAL Q2 results preview (headline only; page not opened)
• 5paisa, HAL share price page (11 November 2026, 9:58 AM; page not confirmed as live)
• BSE and NSE announcement pages and the HAL investor page: where the filing is published (I did not open them).

Editorial disclosure: PositionalCalls.com is not a SEBI-registered research analyst or investment adviser. Investments in securities markets are subject to market risks. Read all related documents carefully before investing. Returns are never guaranteed. PositionalCalls.com is an independent research and education site founded by Shubham Chaudhary. This page is not investment advice, a recommendation or a price target. How I researched this: I compared twelve press, calendar and data-platform reports of the date, the last two results, the order book and the Tejas deliveries, tied margins and growth rates across them, recalculated every derived figure and listed conflicts openly. I did not open the exchange filings; own calculations are labelled.