Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 16 Sep - Copies of the Newspaper publication in relation to loss of share certificates
Source: Bse
Honeywell Automation India Limited (HONAUT)
Large CapIndustrials stocks · Large cap · NSE
Honeywell Automation India Limited (HAIL) provides automation and control systems, software, and services for industrial and building solutions. It focuses on systems integration in Process Solutions and Building Solutions, and distribution of specific Building Management Systems and Sensing Solutions in India and for exports to global Honeywell affiliates.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals16 Oct 2026 · screener
Latest result29 Jul, 07:40 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
38BearishSMA20 -6.0% / mo · RSI oversold · MACD −
Stock trend: 33
Sector RS: 46
Sector 3M: -7.1% vs Nifty 500 -5.6%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
HONAUTD candles · FIT view-0.7%TODAY · PROVISIONALLatest price ₹31035.00 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
-2.1%
RSI
26
MACD hist
-103.46
52W pos
32%
2026-10-21O ₹31710.00H ₹31815.00L ₹30775.00C ₹31035.00Vol 2,754 shIntraday candle
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
HONAUTNifty India ManufacturingNifty 500
- HONAUT
- -17.1%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- -11.5 pp
Chart stats
19 Oct 2026- From 52W high
- -23.7%
- 52W range position
- 36%
- ATR (14)
- 2.6%
- Volume vs 20D
- 0.45x
- Avg traded value
- ₹12.8 Cr
- 20D price channel
- ₹31,515 - ₹35,470
₹41,495
₹26,220 - ₹41,495
₹823.6
Latest completed session
20-session average
18.5% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · OVERVALUED31
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good60
Revenue +1.8% · PAT +20.8% YoY
Technical
Bearish38
Price trend and sector-relative-strength timing.
Valuation
Legacy model-408.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence78
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 60/100Rev +2% YoY · PAT +21% YoY · margin expansion · operating leverage
Filed 29 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,204 Cr | +1.8% | +1.9% |
| EBITDA | ₹172 Cr | +21.1% | -7.0% |
| Operating margin | 14.0% | +200 bps | -200 bps |
| PAT | ₹151 Cr | +20.8% | -5.6% |
| PAT margin | 12.5% | +197 bps | -101 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 50.70
- P/B
- 6.36
- EV/EBITDA
- 41.28
- Market Cap
- 28373.00Cr
Profitability
- ROE
- 12.60%
- ROCE
- 17.00%
- ROA
- 8.85%
- Dividend Y
- 0.34%
Growth (CAGR)
- Revenue 5Y
- 9.00%
- EPS 5Y
- 3.00%
- Revenue 3Y
- 11.00%
- EPS 3Y
- 7.00%
Balance Sheet
- Debt/Equity
- 0.02
- Interest Coverage
- 63.60×
- Altman Z
- 8.35
- Book Value
- 5047.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 8/5
- OCF
- 493.00 Cr
- EPS TTM
- 623.32
Shareholding
- Promoter Hold
- 75.00%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 38%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 4,682+11.7% vs prev
Net Profit
₹ CrLatest: 525+0.2% vs prev
Return on Equity
%Latest: 11.8-9.4% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 26.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~6.7% over last month) — short-term momentum negative.
- RSI(14) at 26 — oversold zone; bounce conditions.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 25% off 52W high · 18% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
41
RS percentile
Stage 1 Base / Transition
1M return
-10.6%
3M return
-17.1%
6M return
-3.1%
1Y return
-14.2%
RS 1D
+2
RS 20D
-14
Sector rank
#5
Industry rank
-
Stage evidence
- Price is within 7.5% of the 30-week proxy.
- The 30-week proxy changed +1.2% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 90.58-0.28%
RS vs Nifty 50091
Valuation & peers
U-Score 31 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 31 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth6/25
Quality5/20
Balance Sheet11/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
31
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
31/100 · legacy band OVERVALUED
Positive drivers
- Piotroski is strong at 8/9.
- Balance sheet contributes 11/15 to the score.
- Cash flow contributes 4/10 to the score.
Main drags
- Fair-value margin of safety is negative at -408.6%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Growth is weaker at 6/25; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
50.7
PB
6.4
EV/EBITDA
41.3
ROE
12.6%
ROCE
17.0%
FCF Yield
—
Debt/Equity
0.0
MoS
-408.6%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
31
Previous: 31
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-408.6%
Previous: -419.1%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
31
31
31
31
31
31
31
31
31
31
31
31
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹8,413.24
-268.9% MoS
Growth-justified P/E
9.8
Growth-justified Value
₹6,102.3
-408.6% MoS
PEG
11.02
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
ELECON
Large
Elecon Engineering Company Limited
Industrial Machinery
match 20
47
34.7
16.4%
-7%
FAIR VALUE
ESCORTS
Large
Escorts Kubota Limited
Agricultural Machinery
match 20
65
21.6
18.7%
+44%
UNDERVALUED
JYOTICNC
Small
Jyoti CNC Automation Limited
Industrial Machinery
match 18
54
70.1
18.2%
-76%
FAIR VALUE
ASAHIINDIA
Large
Asahi India Glass Limited
Auto Components
match 12
33
53.1
10.3%
-39%
WATCHLIST
BELRISE
Large
Belrise Industries Limited
Auto Components
match 12
31
44.1
12.6%
-4%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-06-04T07:01:57.476Z
Management commentary snapshot
HAIL reported modest revenue growth of 3% YoY to INR 41,896 million, but Profit After Tax declined 2% YoY to INR 3,986 million for FY2024-25, despite positive macroeconomic indicators.
While revenue saw modest growth, the decline in PAT raises concerns about profitability and cost management. The company's focus on digital trends and new-age industries is positive, but execution and margin preservation will be key. Domestic business growth is a positive, but overall profitability needs monitoring.
Current business mix
Revenue Mix by Geography (FY2024-25)
Latest issuer-disclosed distribution across 2 reported categories.
Domestic58.0%
Exports42.0%
Growth engines
Capitalize on Digital Trends
Focus on optimizing HAIL’s large install base with an integrated IoT platform, real-time data, edge analytics, AI/ML, and cybersecurity for Operational Technology (OT).
Automation in Asset Efficiency & Energy Transition
Strategic priority to focus on automation solutions that enhance asset efficiency and support the energy transition.
New Age Industries
Targeting growth in new age industries such as Datacenters, Giga & Semico factories, new energy, and Pharma & Life science, evidenced by recent wins.
Organic Growth Focus
The company's strategic priorities include a strong focus on organic growth initiatives.
Capacity and execution
Solar Photovoltaic Power Plant
Commissioned an On Grid Roof mount Solar Photovoltaic Power Plant at the Honeywell India factory.
Tailwinds
India GDP Growth
India's GDP growth rate is projected at 6.4% for FY24-25 and 6.5% for FY25-26, indicating a positive economic environment.
Central Government Capex Spend
Central Government Capex Spend increased to INR 11.2 trillion in FY24-25, suggesting infrastructure development opportunities.
Manufacturing PMI
Manufacturing PMI shows positive trends, recorded at 55.8 in FY24-25.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The presentation covers annual performance (FY2024-25) and provides historical annual data, making year-over-year comparison most relevant for assessing overall financial health and trends.
Sector KPIs management disclosed
Revenue
Revenue for FY2024-25 was INR 41,896 million, a +3% YoY increase.
Profit After Tax
Profit After Tax for FY2024-25 was INR 3,986 million, a -2% YoY decrease.
Free Cash Flow
Free Cash Flow for FY2024-25 was INR 5,236 million, a +4% YoY increase.
Domestic Revenue Growth
Domestic business is growing faster, contributing 58% of total revenue in FY2024-25.
Management forward view
Portfolio Alignment
Management states HAIL's portfolio is aligned to global Honeywell mega trends in Automation, part of Industrial and Building Automation Strategic Business Groups.
Digital Transformation Impact
Management aims to impact enterprise outcomes like enhanced operational efficiency, sustainability, and reduced environmental impact through digital solutions.
Dividend Policy
The Board recommended a final dividend of INR 105/- per equity share for FY2024-25, reflecting consistently growing dividend and accelerated dividend growth.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Profit After Tax (PAT) Growth | -2% YoY decline in PAT for FY2024-25. | Reversal of PAT decline and sustained profitability growth in subsequent periods. |
| Domestic Revenue Share | 58% of total revenue from domestic business in FY2024-25. | Continued growth in domestic business share, indicating strong local market penetration and execution. |
| New Age Industry Project Wins | Significant wins reported in new age industries like Lithium-Ion Gigafactories and Green Hydrogen. | Consistent reporting of new project wins and increasing revenue contribution from these strategic segments. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
78Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 86th percentile of the scored universe and 86th percentile within Industrials. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 21 Oct 2026
management-trust-v1
20 docs text-extracted · 2 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
86th percentile
overall median 67 · Industrials: 86th pctile, median 68 · Large: 70th pctile, median 73
Evidence depth
Financial-only
20 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
96
strong · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 75%.
- ▸Promoter pledge is zero.
- ▸8 years of positive FCF.
- ▸Debt/equity is 0.02.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Honeywell Automation India Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 9 Sep - E-Copies of Newspaper Publication regarding loss of share certificates
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 19 Aug - Enclosed please find newspaper e-copies for loss of share certificates
Source: Bse
Annual report
Reg. 34 (1) Annual Report. 7 Jul
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
Annual report
Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Jul - Copy of the Newspaper publication intimating completion of dispatch of Annual Report (including Notice of AGM) of Honeywell Automation India Limited for FY 2025-26
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.