Honeywell Automation India Ltd.

•

honeywell.com/in/en/hailBSE: 517174NSE: HONAUT

Market Cap₹ 30,170 Cr.

Current Price

High / Low₹ 41,495 / 26,220

Stock P/E54.7

Book Value₹ 5,192

Price to Book5.22

Dividend Yield0.32 %

ROCE17.0 %

ROE12.4 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company is almost debt free
Company has a consistent dividend-paying track record
Company generates healthy free cash flow

CONS

A large part of profit comes from other income (25.7% of PBT)
Company has delivered a poor profit growth of 2.7% over past five years
Operating margins have contracted to 13.0% from 18.8%
Stock is trading at 5.2x its book value
Expensive relative to growth - PEG of 8.8

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsCapital GoodsEngineering - Industrial Equipments

Part ofNIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 150 NIFTY TOTAL MKT NIFTY 500

S.No.	Name
1.	BHEL	432.00	61.84	150425.14	0.32	376.71	182.70	7697.72	40.29	9.24	6.69
2.	INDOMIM	1005.45	93.18	49717.58	0.59	2401.22	—	12187.42	—	24.48	33.36
3.	THERMAX	3641.75	73.13	43393.75	0.55	21.79	-85.61	2302.73	7.09	15.85	2.98
4.	HONAUT	34123.10	54.75	30170.02	0.32	150.70	20.95	1204.40	1.80	17.04	14.32
5.	JYOTICNC	1004.05	70.98	22834.42	0.00	57.14	-19.99	508.47	23.97	21.34	21.40
6.	INOXINDIA	2295.95	81.91	20875.34	0.09	58.07	-4.98	370.79	9.18	33.54	20.46
7.	AZAD	2773.25	128.87	17910.13	0.00	35.16	19.46	172.60	25.90	12.04	37.29
8.	TRITURBINE	561.25	53.05	17842.05	0.76	511.00	693.48	4427.00	1092.30	35.95	11.59
9.	TEGA	1721.30	612.04	12931.73	0.12	-108.25	-406.36	1723.44	383.99	8.37	3.27
10.	LLOYDSENGG	80.63	55.91	12506.03	0.31	68.23	-77.28	527.15	142.92	17.99	15.04
11.	KENNAMET	4998.95	93.82	10986.81	0.00	31.50	11.31	267.30	12.55	18.99	17.51
12.	KRN	1584.85	107.01	10374.19	0.00	32.90	164.84	252.32	118.87	16.06	19.44

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	932	1,104	1,071	951	960	1,024	1,091	1,114	1,183	1,149	1,169	1,181	1,204
	812	966	910	781	806	895	949	955	1,042	1,018	1,021	996	1,048
Operating Profit	121	138	161	170	154	129	142	159	142	132	148	185	157
OPM %	12.94%	12.52%	15.00%	17.87%	16.06%	12.60%	13.02%	14.30%	11.96%	11.45%	12.63%	15.65%	13.01%
	33	40	28	42	44	41	50	47	42	44	34	47	46
Interest	1	1	1	1	1	1	2	2	2	2	4	1	2
Depreciation	14	14	13	14	13	14	14	14	13	13	13	15	14
Profit before Tax	139	164	174	197	184	155	176	190	168	161	165	215	203
Tax %	25.72%	25.63%	26.70%	24.89%	25.86%	25.89%	24.94%	26.45%	25.83%	25.64%	26.50%	25.82%	25.80%
Net Profit	103	122	128	148	136	115	132	140	125	120	121	160	151
	116.99	137.82	144.60	167.59	154.34	130.18	149.35	158.26	140.95	135.13	137.08	180.60	170.45

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	2,410	2,690	3,175	3,290	3,043	2,948	3,448	4,058	4,190	4,682	4,703
	2,125	2,324	2,692	2,662	2,451	2,512	2,928	3,464	3,599	4,074	4,082
Operating Profit	285	366	483	628	592	436	519	594	590	608	621
OPM %	11.82%	13.62%	15.21%	19.09%	19.45%	14.80%	15.06%	14.65%	14.09%	12.99%	13.20%
	42	34	95	110	84	82	130	143	182	170	171
Interest	3	4	6	10	9	9	6	9	12	16	10
Depreciation	16	15	16	41	49	52	52	54	54	54	54
Profit before Tax	307	381	555	687	618	458	591	675	706	709	744
Tax %	44.86%	34.49%	35.33%	28.41%	25.56%	25.89%	25.93%	25.71%	25.79%	25.93%	25.93%
Net Profit	169	250	359	491	460	339	438	501	524	525	551
EPS	191.65	282.45	405.86	555.88	520.32	383.57	495.40	569.77	595.00	596.59	—
Dividend Payout %	5.22%	11.33%	11.09%	13.49%	16.33%	23.46%	19.09%	17.55%	17.65%	18.44%	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 9%
3 Years:: 11%

COMPOUNDED PROFIT GROWTH

10 Years:: 14%
5 Years:: 3%
3 Years:: 6%

STOCK PRICE CAGR

10 Years:: 14%
5 Years:: -4%
3 Years:: -5%
1 Year:: -6%

RETURN ON EQUITY

10 Years:: 17%
5 Years:: 14%
3 Years:: 14%
Last Year:: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	9	9	9	9	9	9	9	9	9	9
	1,169	1,406	1,733	2,164	2,563	2,819	3,167	3,581	4,010	4,431
	1	2	4	67	55	38	18	61	86	90
Trade Payables	572	771	831	926	945	722	725	761	953	1,026
	732	906	1,173	1,341	1,574	369	1,963	2,057	2,285	2,626
Total Liabilities	2,483	3,094	3,750	4,507	5,145	3,957	5,880	6,469	7,343	8,180
	79	84	85	196	217	181	151	170	202	202
Capital Work in Progress	3	1	8	14	2	2	2	2	3	3
	83	78	0	0	0	0	0	0	0	0
	97	80	105	121	95	99	165	159	237	217
	0	0	0	0	0	0	0	926	1,127	1,161
Cash & Bank	578	841	1,225	1,514	1,797	2,006	2,380	2,823	3,291	3,806
	1,643	2,010	2,327	2,662	3,034	1,669	3,183	2,389	2,483	2,792
Total Assets	2,483	3,094	3,750	4,507	5,145	3,957	5,880	6,469	7,343	8,180

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	347	423	523	532	475	417	470	439	426	493
Cash from Investing	-85	-174	-446	-227	-303	-109	-129	2,006	-14	-2,964
Cash from Financing	-11	-11	-34	-70	-89	-99	-102	-106	-110	-116
	120	78	-168	34	-28	56	178	2,339	302	-2,587

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00
2.72	2.68	2.50	2.59	2.76	3.00	3.46	3.74	3.94
12.40	12.54	12.33	12.35	12.15	11.99	11.53	11.28	11.31
0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00	0.00
9.87	9.78	10.16	10.04	10.07	10.00	10.00	9.97	9.74

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-09

Copy of Newspaper Publication

2026-09-09 - Honeywell Automation India Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-19

Updates

2026-08-19 - Honeywell Automation India Limited has informed the Exchange regarding 'Newspaper Publication for Loss of Share Certificate'.

2026-07-30

Copy of Newspaper Publication

2026-07-30 - Honeywell Automation India Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-30

Updates

2026-07-30 - Honeywell Automation India Limited has informed the Exchange regarding 'Revision in the Notice of 42 AGM'.

2026-07-29

Shareholders meeting

2026-07-29 - Honeywell Automation India Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on July 29, 2026. Further, the company has informed the Exchange regarding voting results.

2026-07-29

Shareholders meeting

2026-07-29 - Honeywell Automation India Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on July 29, 2026

2026-07-29

General Updates

2026-07-29 - Presentation made by the Managing Director at the 42nd Annual General Meeting of Honeywell Automation India Limited held on Wednesday July 29, 2026

2026-07-29

Outcome of Board Meeting

2026-07-29 - Honeywell Automation India Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-13

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-13 - Honeywell Automation India Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018

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