Honeywell Automation logo

Honeywell Automation

HONAUT NSE

Key Fundamentals

SmallcapIndustrial ProductsCapital Goods
Market Cap
₹29,372 Cr
Volatility
Moderate
P/E Ratio
53.7
EBITDA
₹785 Cr
Return on Equity
11.76%
Debt to Equity
0.02
Book Value
₹5,048.35
EPS
₹604.64
52W High
₹41,495
52W Low
₹26,220

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

3
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 17.9%
  • Company's working capital requirements have reduced from 36.9 days to 26.7 days

Weaknesses

2
  • The company has delivered a poor sales growth of 9.00% over past five years.
  • Company has a low return on equity of 13.6% over last 3 years.

Growth Rate

Revenue Growth
11.19% higher than 3Y
Net Income Growth
0.27% lower than 3Y
Cash Flow Change
15.55% higher than 3Y
ROE
-9.33% lower than 3Y
ROCE
-8.73% higher than 3Y
EBITDA Margin (Avg.)
-7.98% lower than 3Y

AI Analysis — Bull vs Bear

6d ago
AI opinion · based on fundamentals
Risk medium

Honeywell Automation India has a market cap of about ₹29,646 Cr and trades at a P/E of 53.8x and a P/B of 6.65x. It is almost debt free, and its working capital cycle has shortened from 36.9 to 26.7 days. Growth has been modest (5-year sales CAGR of 9%, profit CAGR of 3%), ROE has held around 13-14%, and the stock has returned -5% to -6% a year over 1, 3 and 5 years.

Bull Case 7
  • The balance sheet is almost debt free, which leaves room to fund growth and cuts financial risk for a capital goods company.
  • Working capital requirements have fallen from 36.9 days to 26.7 days. That points to better collections and cash conversion.
  • Sales growth has picked up. The 3-year sales CAGR of 11% is ahead of the 5-year (9%) and 10-year (8%) rates.
  • TTM profit growth of 9% is running ahead of TTM sales growth of 7%, which suggests some recent operating leverage or margin gains.
  • The 10-year profit CAGR of 14% and 10-year stock CAGR of 14% show the business can compound over a full cycle.
  • The company keeps a dividend payout of 17.9%, a steady return to shareholders while it retains most of its earnings.
  • Three years of stock returns at -6% CAGR have cooled the valuation, so the stock now trades at 53.8x P/E and 6.65x P/B, well below its earlier premium.
Bear Case 7
  • The P/E of 53.8x is high for a business whose profits grew only 3% CAGR over 5 years and 7% over 3 years.
  • ROE was just 13.6% over the last 3 years and 13% last year, down from a 10-year average of 16%. That is modest next to a P/B of 6.65x.
  • The stock has underperformed for a long stretch, with CAGRs of -6% over 1 year, -6% over 3 years and -5% over 5 years.
  • The 5-year profit CAGR of 3% trails the 9% sales CAGR, which points to margin pressure or rising costs over that period.
  • Sales growth has been only 9% over 5 years and 8% over 10 years, which is ordinary for a company positioned in industrial automation.
  • The dividend yield of 0.33% offers little income support while the share price has fallen.
  • TTM sales growth has slowed to 7% from the 3-year rate of 11%, a sign the top line may be decelerating.

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

36d ago
Positives 2
  • Q1FY27 profit up 21% YoY Jul 30

    Honeywell Automation India reported Q1FY27 net profit of ₹1,507 crore, up 21% YoY, with revenue growing to ₹12,508 crore.

  • FY26 revenue grows 12% Jul 29

    FY26 revenue rose 12% to ₹4,681.9 crore with net profit flat at ₹525 crore. Board declared ₹110 per share final dividend approved at 42nd AGM on July 29, 2026.

TL;DR: Honeywell Automation India is delivering solid top-line growth with Q1FY27 showing strong profit expansion of 21% YoY. FY26 saw 12% revenue growth though net profit remained flat, suggesting margin pressure in the full year that appears to have eased in Q1FY27. The ₹110 dividend signals confidence in cash flows. The trend is improving if Q1FY27 margins sustain through the year.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
932
1,104
1,071
951
960
1,024
1,091
1,114
1,183
1,149
1,169
1,181
1,204
Expenses
812
966
910
781
806
895
949
955
1,042
1,018
1,021
996
1,032
Operating Profit
121
138
161
170
154
129
142
159
142
132
148
185
172
OPM %
13%
13%
15%
18%
16%
13%
13%
14%
12%
11%
13%
16%
14%
Other Income
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
PBT
139
164
174
197
184
155
176
190
168
161
165
215
203
Tax %
26%
26%
27%
25%
26%
26%
25%
26%
26%
26%
26%
26%
26%
Net Profit
103
122
128
148
136
115
132
140
125
120
121
160
151
EPS in Rs
117
138
145
168
154
130
149
158
141
135
137
181
170
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015 15mMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
2,404
2,188
2,410
2,690
3,175
3,290
3,043
2,948
3,448
4,058
4,190
4,682
4,703
Expenses
2,192
1,967
2,121
2,319
2,668
2,650
2,451
2,512
2,926
3,463
3,599
4,069
4,067
Operating Profit
212
221
289
371
506
640
592
436
521
595
590
613
636
OPM %
9%
10%
12%
14%
16%
19%
19%
15%
15%
15%
14%
13%
14%
Other Income
-18
24
37
29
71
97
84
82
128
143
182
165
171
Interest
0
3
3
4
6
10
9
9
6
9
12
16
10
Depreciation
17
15
16
15
16
41
49
52
52
54
54
54
54
PBT
177
226
307
381
555
687
618
458
591
675
706
709
744
Tax %
36%
38%
45%
34%
35%
28%
26%
26%
26%
26%
26%
26%
—
Net Profit
114
141
169
250
359
491
460
339
438
501
524
525
551
EPS in Rs
129
160
192
282
406
556
520
384
495
567
592
594
623
Div. Payout %
10%
6%
5%
11%
11%
13%
16%
23%
19%
18%
18%
18%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
9
9
9
9
9
9
9
9
9
9
9
9
Reserves
873
1,013
1,171
1,410
1,739
2,169
2,570
2,828
3,180
3,597
4,029
4,454
Borrowings
0
0
0
0
0
81
74
56
36
60
101
110
Other Liabilities
601
740
771
1,013
1,143
1,198
1,300
1,118
1,226
1,229
1,466
1,656
Total Liabilities
1,483
1,762
1,951
2,432
2,891
3,457
3,953
4,011
4,450
4,895
5,605
6,229
Fixed Assets
85
84
79
84
85
193
217
181
151
170
202
202
CWIP
7
2
3
1
8
14
2
2
2
2
3
3
Investments
76
79
83
78
0
0
0
0
0
0
0
0
Other Assets
1,315
1,597
1,787
2,269
2,797
3,250
3,734
3,828
4,297
4,723
5,400
6,024
Total Assets
1,483
1,762
1,951
2,432
2,891
3,457
3,953
4,011
4,450
4,895
5,605
6,229
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
13
166
215
263
312
330
364
264
410
439
426
493
Investing
-140
46
-85
-172
-443
-212
-307
-106
-118
2,008
-8
-2,942
Financing
-11
-13
-11
-11
-34
-70
-89
-99
-102
-106
-110
-116
Net Cash Flow
-138
199
119
80
-165
48
-32
59
190
2,342
308
-2,566
Free Cash Flow
-24
156
203
244
289
271
317
253
388
407
399
460
CFO/OP
43
117
120
114
103
83
80
96
90
94
104
118
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
52
84
76
80
72
80
115
84
99
83
98
90
Inventory Days
33
29
27
21
23
27
23
23
33
25
34
27
Days Payable
114
153
161
201
184
188
261
169
144
120
137
130
Cash Conversion Cycle
-28
-40
-58
-100
-89
-81
-124
-62
-12
-12
-4
-12
Working Capital Days
39
47
34
21
21
30
52
58
52
45
39
27
ROCE %
26%
24%
28%
30%
35%
35%
26%
17%
20%
20%
18%
17%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others1.68%Promot.75.00%FIIs3.95%Public8.05%DIIs11.31%As ofJun 2026

Documents

Frequently Asked Questions about Honeywell Automation

What does Honeywell Automation India Ltd do?
Honeywell Automation India Limited (HAIL)was started in the year 1987 as a JV between Tata and Honeywell. It was known as Tata Honeywell Limited each holding 39.54% stake. Later in 2004 Honeywell Asia Pacific Inc. bought Tata's stake and the name was changed to Honeywell Automation India Limited....
Where is Honeywell Automation India Ltd (HONAUT) listed?
Honeywell Automation India Ltd trades as HONAUT on the NSE and under code 517174 on the BSE.
Which sector does Honeywell Automation India Ltd belong to?
Honeywell Automation India Ltd is classified under the Capital Goods sector, in the Industrial Products industry.
What is the market capitalisation of Honeywell Automation India Ltd?
Honeywell Automation India Ltd has a market capitalisation of ₹29,372 Cr, which places it in the Large Cap band.
What is the PE ratio of Honeywell Automation India Ltd?
Honeywell Automation India Ltd trades at a PE ratio of 53.70, on earnings per share of ₹604.64, against a book value of ₹5,048.35 per share.
What is the 52-week high and low of Honeywell Automation India Ltd?
Over the last 52 weeks Honeywell Automation India Ltd has traded between ₹26,220 and ₹41,495.
Does Honeywell Automation India Ltd pay dividends?
Honeywell Automation India Ltd has a dividend yield of 0.33%.
What is the Return on Equity (ROE) of Honeywell Automation India Ltd?
Honeywell Automation India Ltd reported a return on equity of 11.76%. Its debt-to-equity ratio is 0.02.

Company Information

Honeywell Automation India Limited (HAIL)was started in the year 1987 as a JV between Tata and Honeywell. It was known as Tata Honeywell Limited each holding 39.54% stake. Later in 2004 Honeywell Asia Pacific Inc. bought Tata's stake and the name was changed to Honeywell Automation India Limited. [1] HAIL is engaged primarily in the business of Automation & Control systems on turnkey basis and others. [2]

Website honeywell.com/en-us/global/en-in/hail
CEO Mr. Atul Vinayak Pai
Employees 3,140
Listed 2003-07-18
Face Value ₹ 10
Issued Size 88,41,523

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