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Honeywell Automation India Limited
(HONAUT)
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Rating:72Outperform
Price Target:
₹43,738.00
▲(28.26% Upside)
Action:Reiterated
Date:05/24/26
The score is driven primarily by strong financial quality (especially the low-leverage balance sheet and solid cash generation) and a bullish price trend. These positives are partially offset by expensive valuation (high P/E, low yield) and technical overbought signals, alongside the key fundamental watch item of 2026 margin compression.
Positive Factors
Conservative balance sheet
Very low debt-to-equity (~1–3%) and a growing equity base provide durable financial flexibility. This conservative capital structure reduces refinancing and interest-rate risk, enables funding of project-backed working capital or selective M&A, and supports steady investment in services and software without eroding credit strength.
Negative Factors
2026 margin compression
Sharp gross- and net-margin declines in 2026 signal structural margin pressure from mix shifts, pricing headwinds, or rising input/labor costs. If sustained, lower margins erode free cash flow and ROE, reducing scope for reinvestment in aftermarket services and software and increasing sensitivity to revenue volatility over coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low debt-to-equity (~1–3%) and a growing equity base provide durable financial flexibility. This conservative capital structure reduces refinancing and interest-rate risk, enables funding of project-backed working capital or selective M&A, and supports steady investment in services and software without eroding credit strength.
Read all positive factors
Honeywell Automation India Limited (HONAUT) vs. iShares MSCI India ETF (INDA)
Market Cap
₹351.64B
Dividend Yield0.32%
Average Volume (3M)166.00
Price to Earnings (P/E)66.9
Beta (1Y)0.86
Revenue Growth11.75%
EPS Growth0.26%
CountryIN
Employees3,096
SectorIndustrials
Sector Strength72
IndustryElectrical Equipment & Parts
Share Statistics
EPS (TTM)583.72
Shares Outstanding8,841,523
10 Day Avg. Volume134
30 Day Avg. Volume166
Financial Highlights & Ratios
PEG Ratio164.09
Price to Book (P/B)5.22
Price to Sales (P/S)4.97
P/FCF Ratio38.23
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)714.5
Revenue Forecast (FY)₹53.43B
Honeywell Automation India Limited Business Overview & Revenue Model
Company Description
Based in Pune, India, and established in 1984, Honeywell Automation India Limited delivers integrated automation and control systems across India and internationally. This subsidiary of HAIL Mauritius Limited specializes in manufacturing and selli...
How the Company Makes Money
HONAUT primarily makes money by selling automation and control products, delivering turnkey/solution projects, and providing services over the lifecycle of installed systems. Key revenue streams typically include: (1) Product sales: supply of indu...
Honeywell Automation India Limited Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
90
Very Positive
Cash Flow
76
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 45.38B | 46.82B | 41.90B | 40.58B | 34.48B | 29.48B |
| Gross Profit | 14.62B | 9.11B | 16.25B | 17.29B | 16.03B | 13.90B |
| EBITDA | 6.04B | 7.72B | 5.66B | 5.72B | 5.00B | 4.12B |
| Net Income | 5.16B | 5.25B | 5.24B | 5.01B | 4.38B | 3.39B |
Balance Sheet | ||||||
| Total Assets | 57.41B | 62.29B | 56.05B | 48.95B | 44.51B | 40.11B |
| Cash, Cash Equivalents and Short-Term Investments | 35.13B | 43.64B | 32.91B | 28.22B | 23.85B | 20.06B |
| Total Debt | 1.68B | 1.10B | 1.01B | 596.00M | 363.40M | 557.40M |
| Total Liabilities | 15.52B | 17.66B | 15.66B | 12.89B | 12.62B | 11.74B |
| Stockholders Equity | 41.90B | 44.63B | 40.38B | 36.06B | 31.89B | 28.37B |
Cash Flow | ||||||
| Free Cash Flow | 2.33B | 6.09B | 3.99B | 4.07B | 3.82B | 2.51B |
| Operating Cash Flow | 2.42B | 6.42B | 4.26B | 4.39B | 4.10B | 2.64B |
| Investing Cash Flow | -2.16B | -31.13B | -142.00M | 20.06B | -1.29B | -1.09B |
| Financing Cash Flow | -1.04B | -1.16B | -1.10B | -1.05B | -1.02B | -985.30M |
Honeywell Automation India Limited Technical Analysis
Positive
34101.80
Price Trends
33376.66
Positive
31786.84
Positive
33496.28
Positive
Market Momentum
1625.67
Negative
75.28
Negative
85.73
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HONAUT, the sentiment is Positive. The current price of 34101.8 is below the 20-day moving average (MA) of 36259.31, above the 50-day MA of 33376.66, and above the 200-day MA of 33496.28, indicating a bullish trend. The MACD of 1625.67 indicates Negative momentum. The RSI at 75.28 is Negative, neither overbought nor oversold. The STOCH value of 85.73 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:HONAUT.
Honeywell Automation India Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹1.50T | 123.50 | ― | 0.20% | 25.32% | 20.92% | |
72 Outperform | ₹351.64B | 66.92 | ― | 0.32% | 11.75% | 0.26% | |
69 Neutral | ₹630.40B | 64.53 | ― | 0.57% | 23.25% | 18.95% | |
68 Neutral | ₹178.69B | 25.06 | ― | 1.04% | 18.84% | 1.84% | |
66 Neutral | ₹727.69B | 43.00 | ― | 0.70% | 3.44% | 14.78% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
59 Neutral | ₹1.50T | 55.84 | ― | 0.46% | 29.08% | 32.16% |
* Industrials Sector Average
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Honeywell Automation India Limited Corporate Events
Honeywell Automation India Alerts Shareholders on Transfer of Unclaimed Dividends and Shares to IEPF
Jun 6, 2026
Honeywell Automation India Limited has published newspaper advertisements in Financial Express and Loksatta to notify shareholders about the impending transfer of unclaimed or unpaid dividends and the corresponding equity shares to the Investor Ed...
Honeywell Automation India Publishes Investor Education Campaign Notice in Newspapers
Jun 6, 2026
Honeywell Automation India Limited informed the stock exchanges that it has published notices in the Financial Express and Loksatta newspapers on June 6, 2026, in connection with the second 100-day investor education campaign, “Saksham Nives...
Honeywell Automation India Extends CFO Pulkit Goyal’s Tenure for Smoother Transition
Apr 20, 2026
Honeywell Automation India Limited has announced that Chief Financial Officer and key managerial personnel Pulkit Goyal, who had earlier tendered his resignation to pursue other opportunities, will extend his tenure for operational continuity. At ...
Honeywell Automation India Files SEBI Compliance Certificate on Demat Activity
Apr 10, 2026
Honeywell Automation India Limited has submitted a regulatory certificate for the quarter ended March 31, 2026, confirming that details of its securities dematerialised or rematerialised during the period have been duly provided to all stock excha...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.