HAL Share Price Target 2025, 2030, and 2040: Long-Term Forecast and Expert Analysis » InvestingCube

Hindustan Aeronautics Ltd is listed on India’s NSE, and the HAL share price targets are the subject of market discussions following the company’s recent engine purchase agreement with General Electric (GE).

HAL Share Price Target 2025: Technical Outlook and Immediate Drivers

Several institutions have provided guidance for the HAL share price in 2025. The HAL share price target for 2025, as reported by several institutional sell-side firms, are as follows:

• Jefferies raised its HAL share price target 2025 from ₹4,715 to ₹6,475, with a Buy recommendation. This followed the May 2025 quarterly results that highlighted a 19% EPS CAGR and expanding visibility of its multi-year deliveries.
• Nomura India has a HAL share price target of ₹6,100 along with a Buy recommendation. The firm sees a 20% CAGR for HAL’s post-tax profits in the FY 2025 – FY 2028 period.
• UBS has set a price target of ₹5,440. This followed the company’s September 2025 deal with the Indian government for the Tejas aircraft worth ₹62,700 crore.
• Motilal Oswal has a 2025 HAL share price target of ₹5,800, with a Buy recommendation. This was reiterated in its October 2025 research call, referencing follow-ups in defence orders.

The various HAL share price targets for 2025 are presently found in the ₹5,500–₹6,500 cluster, with the HAL share price target Motilal Oswal provided being the most conservative estimate.

Fundamental Drivers: The fundamental drivers for the near-term price action are:

• The September 2025 agreement signed with the Indian government for the supply of 97 homegrown Tejas Mk-1A, valued at INR 623.70 billion ($7.1 billion).
• The recent agreement with General Electric for the supply of engines for the aircraft orders, which is expected to be a key enabler for the company to meet the supply targets.

Technical Outlook: The technical outlook indicates that there has been a period of correction following the all-time high at ₹5,674 set in July 2024. The progressively lower tops of July 2024, May 2025 and October 2025 are pointers that the uptrend may have stalled, in favour of a correction. The break of the lower trendline unlocks access to the 50% Fibonacci retracement of the October 2023 – July 2024 upswing at 3721 in the first instance. On the flip side, a break above the trendline resistance must also transcend the current record high for uptrend continuation. This will carve a pathway for a bullish move that targets the 27% Fibonacci extension at 6652.

HAL Share price Live Chart

HAL Share Price Target 2030: Fundamental Strength and Expansion Projects

There are presently no institutional publications that detail HAL share price targets for 2030. This is because banks and institutional research firms typically anchor their projections on current data, with a 12-month outlook. The closest institutional models stretch to FY 2026 and FY 2027, but no further.

Typically, what is done to use the financials from a base year and extrapolate it to the target year using a specified CAGR. This gives bear case, base case and bull case scenarios.

• Base year is FY 20205: revenue is ₹30,105 crore.
• A 12% CAGR in revenue from FY2025-FY2030.
• Net margin of 15%
• FY 2030 EPS of INR 119
• P/E ratio of 20X
• FY net profit of INR 7,959 crore

This translates into a HAL share price target NSE India 2030 of INR 2400 (bear case) – INR 6800 (bull case), with a base case of INR 4200. However, there are a lot of variables that can change in this period and changes to the parameters of calculation will radically alter the price targets.

HAL Share Price Target 2040: Long-term Vision & Global Positioning

There are no institutional estimates for the HAL share price target 2040, in keeping with the established rule of only providing such estimates for a 12-month window. However, it is possible to use the HAL share price history to build a model that can be used to make a prediction of the 2040 targets.

Key Assumptions

• FY 2025 is the base year, and the base year revenue of ₹30,105 crore as per the company’s full-year 2025 earnings report is used.
• India to deepen the defence indigenization policy by expanding its procurement of defence components from local companies such as HAL and BEL.
• Number of outstanding shares: 66.88 crore (to be used in the calculation of earnings per share for 2040).
• Normalization and stabilization of engine supplies for HAL’s fighter aircraft after a period of delay.
• An order book of ₹1.89 lakh crore for the 4th quarter of 2025.

The expected CAGR would be split into two phases: 2025-2030 (16% growth), and 2030 – 2040 (8 % growth) for the base case scenario. EPS is derived by dividing Profit after Tax by the number of outstanding shares. At an EPS of 347.0, P/E ratio of 18x, the implied HAL share price target for 2040 would be somewhere close to INR 6,250.

Please note that these are assumptions and any changes to any of these could impact the calculation dramatically.

HAL’s Latest Share Price & Key Market Performance Metrics

The latest share price of HAL is the closing price of the asset at the end of the November 11, 2025 trading day, The HAL share price NSE closing price for the day is 4878, following a 5% gain for the week as of writing. The price remains in an uptrend, and the HAL future share price will depend on a number of key performance metrics. These are:

• Changes to India’s defence indigenization policy in favour of more exports -> less focus on homegrown products
• Delays in engine and subsystems delivery for the Tejas fighter aircraft
• Sector-wide or individual changes to HAL’s valuations

The biggest companies in India’s defence space have seen a huge boost from the defence indigenization policy of the Indian government, as contained in the DAP 2020 protocol. This has led to significant demand for the systems and products of HAL and BEL, with follow-through impact expected well beyond 2027.

However, any changes to this policy could undo the gains of the last few years. HAL is especially exposed to

Expert Consensus: HAL Share Price Targets

The expert consensus for the HAL share price targets are all for a 12-month window, in keeping with established standards for price predictions from banks, sell-side institutions and asset managers. The targets set by Motilal Oswal, Nomura India and Jefferies have been reported above. Additional expert predictions come from Goldman Sachs and Nuvama.

Goldman Sachs projects a HAL share price target of INR 5255, but has a neutral rating for the stock unlike the previous expert opinions shared. Nuvama has a Buy recommendation and expects the HAL share price to hit INR 6000. This is based off its interpretation of the Q1 2025 earnings report.

A simple median of the HAL future share price targets sets a price of INR 5900. This gives room for more upside movement of the stock.

Investment Potential: Is HAL a Buy, Hold or Sell Right Now?

The price picture on the long term charts indicate that HAL has been in an uptrend for the last five years, with very little pullbacks along the way. It may be prudent for traders to allow for some price correction to get into the stock at better prices.

Please note: several of the institutional calls with a Buy recommendation were made some months ago, when prices were at lower levels. Some of the price moves have now been factored into market action. HAL remains a long-term buy due to the expected impact of the Indian government’s policy of domesticating its defence procurement. But the stock currently has potential for correction in the near-term before prices take off once more.

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