Honeywell Automation India Limited (HONAUT)

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Honeywell Automation India Limited (HONAUT) · mywealthgrid

About

Honeywell Automation India manufactures industrial products for the industrials sector. Market cap ₹32,740 Cr with quarterly revenues around ₹1,200 Cr (Jun 2026); operates in industrial automation with stable 75% promoter holding.

Face value: ₹10

Market cap

₹29,454 Cr

P/E

53.4×

P/B

6.6×

Dividend yield

0.3%

ROE

12.4%

ROCE

16.7%

Debt / equity

OPM

12.9%

EPS (TTM)

₹626.3

Book value

₹5,071.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation stretched: PE 59.41 leaves minimal margin for earnings miss or multiple compression

Margin volatility: OPM ranged 11.45% (Sep 2025) to 15.65% (Mar 2026) in recent quarters—verify if execution-driven or sector cyclicality

Weak capital returns: ROE 12.35% despite zero debt; 1-year return 0.98% despite 17.6% revenue growth—verify sources of market skepticism

Industrial cyclicality: verify customer concentration, capex cycle timing, and exposure to economic-sensitive end markets

Generated analysis · source review pending

Growth drivers

Revenue grew 17.6% from ₹1,024 Cr (Sep 2024) to ₹1,204 Cr (Jun 2026)—verify if volume, pricing, or share gains drove growth

Operating margin expanded from 11.45% (Sep 2025) to 14.32% (Jun 2026)—verify if from cost discipline or pricing

Six consecutive dividend declarations since 2022 indicate sustained cash generation and management confidence

Zero debt (D/E 0) provides capital for growth investment, acquisitions, or shareholder returns without refinance risk

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹33,470.0-1.5%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)
+Comfortable interest coverage of 75.3×
+High promoter holding of 75% with no pledge

Cons

−Modest revenue growth of 9% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

39/100

Business quality: 59
Growth: 40
Valuation: 18

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	2,188	2,436	2,698	3,175	3,290	3,043	2,948	3,448	4,058	4,190	4,682
COGS	-1,275	-1,300	1,407	1,649	1,643	1,531	1,545	1,833	2,311	2,546	2,879
Gross profit	—	—	1,291	1,526	1,647	1,512	1,403	1,614	1,747	1,643	1,803
	3,268	3,454	928	1,023	1,011	923	970	1,096	1,158	1,059	1,198
	194	282	364	503	636	589	433	519	589	585	606
OPM %	8.9%	11.6%	13.5%	15.9%	19.3%	19.4%	14.7%	15.1%	14.5%	14%	12.9%
Depreciation	—	16	15	16	41	49	52	52	54	54	54
Interest	0	—	0	3	7	6	5	4	4	7	10
	28	41	33	71	98	84	82	128	143	182	167
Profit before tax	222	307	381	555	687	618	458	591	675	706	709
Tax	83	138	132	196	195	158	118	153	174	182	184
Tax %	37.5%	44.9%	34.5%	35.3%	28.4%	25.6%	25.9%	25.9%	25.7%	25.8%	25.9%
	139	169	250	359	491	460	339	438	501	524	525
PAT margin %	6.3%	7%	9.3%	11.3%	14.9%	15.1%	11.5%	12.7%	12.4%	12.5%	11.2%
EPS (₹)	156.7	—	282.5	405.9	555.9	520.3	383.6	495.4	567.1	592.2	593.8
EPS adjusted (₹)	156.7	191.7	282.5	405.9	556	520.4	383.6	495.5	567.2	595	596.6
	6.4%	—	11.3%	11.1%	13.5%	16.3%	23.5%	19.2%	17.6%	17.7%	18.5%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	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	9
Reserves	888	1,171	1,410	1,739	2,169	2,570	2,828	3,180	3,597	4,029	4,454
	—	—	—	—	—	0	0	0	0	0	0
	569	771	1,013	1,143	1,279	1,356	1,174	1,262	1,289	1,566	1,766
Total equity & liabilities	1,466	1,951	2,432	2,891	3,457	3,935	4,011	4,451	4,895	5,605	6,229
	85	79	84	85	116	146	130	151	170	202	202
CWIP	7	3	1	8	14	2	2	2	2	3	3
Investments	76	83	78	—	—	0	0	0	0	0	0
	1,298	1,787	2,269	2,797	3,328	3,786	3,878	4,297	4,723	5,400	6,024
Total assets	1,466	1,951	2,432	2,891	3,457	3,935	4,011	4,451	4,895	5,605	6,229

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	48.1%	50.1%	49.7%	47.6%	46.8%	43%	39.2%	38.5%
EBITDA margin %	15.9%	19.3%	19.4%	14.7%	15.1%	14.5%	14%	12.9%
EBIT margin %	15.4%	18.1%	17.8%	12.9%	13.5%	13.2%	12.7%	11.8%
PAT margin %	11.3%	14.9%	15.1%	11.5%	12.7%	12.4%	12.5%	11.2%
Working capital
Receivable days	73	83	111	84	99	83	93	91
Inventory days	23	27	23	23	33	25	34	27
Payable days	—	—	225	171	144	120	123	130
NWC days	—	—	-92	-64	-12	-12	5	-12
Leverage
Current ratio	2.27	2.53	2.79	3.23	3.34	3.72	3.59	3.53
Debt to EBITDA	—	—	0	0	0	0	0	0
Debt to equity	—	—	0	0	0	0	0	0
Interest coverage	160.5	100.9	100.5	84.4	150.3	191.1	106.3	75.3
Asset turnover	1.1	0.95	0.77	0.74	0.77	0.83	0.75	0.75
Return ratios
Return on assets %	12.4%	14.2%	11.7%	8.5%	9.8%	10.2%	9.3%	8.4%
Return on capital employed %	34.7%	34%	25.1%	16.6%	19.4%	19.7%	18.2%	16.7%
Return on equity %	20.5%	22.6%	17.8%	12%	13.7%	13.9%	13%	11.8%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%	75%
	3.14%	2.92%	2.77%	2.72%	2.68%	2.51%	2.59%	2.77%	3.01%	3.46%	3.74%	3.95%
	12.38%	12.07%	12.38%	12.59%	12.72%	12.51%	12.36%	12.16%	11.99%	11.54%	11.29%	11.31%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	9.48%	10.01%	9.85%	9.69%	9.6%	9.98%	10.05%	10.07%	10%	10%	9.97%	9.74%
No. of shareholders	—	—	—	—	—	—	—	—	34,840	34,763	34,974	33,525

Promoter holding up 0 percentage points since Sep 2023.

6 deals · 25 Aug 2021 – 12 Dec 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
12 Dec 2025	SBI MUTUAL FUND	Bulk	NSE	Sell	99,994	₹33,895.00	₹338.93 Cr
12 Dec 2025	SBI MUTUAL FUND	Bulk	NSE	Buy	99,992	₹33,895.00	₹338.92 Cr
9 Oct 2025	GOLDMAN SACHS (SINGAPORE) PTE - ODI	Block	NSE	Sell	7,782	₹36,200.00	₹28.17 Cr
9 Oct 2025	GOLDMAN SACHS BANK EUROPE SE - ODI	Block	NSE	Buy	7,782	₹36,200.00	₹28.17 Cr
25 Aug 2021	GOLDMAN SACHS FUNDS - GOLDMAN SACHS INDIA EQUITY PORTFOLIO	Block	BSE	Buy	23,568	₹39,365.65	₹92.78 Cr
25 Aug 2021	GOLDMAN SACHS ASSET MANAGEMENT LLC A/C GOLDMAN SACHS INDIA FUND LIMITED	Block	BSE	Sell	23,568	₹39,365.65	₹92.78 Cr

1–6 of 6

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Ganesh NatarajanNon-Executive - Independent Director-Chairperson
Ms. Neera SaggiNon-Executive - Independent Director
Mr. Atul Vinayak PaiExecutive Director
Mr. Ashish Kumar ModiNon-Executive - Non Independent Director
Mr. Robert David MaillouxNon-Executive - Non Independent Director
Mr. Jake Morgan WassermanNon-Executive - Non Independent Director
Mr. Satish Kumar AgarwalChief Financial Officer
Ms. Indu DaryaniCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 11 fund houses

Held by these funds

7.4%

of the company's equity

All mutual funds

10.05%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

55 schemes · 11 fund houses

		Shares
Smallcap Fund	SBI Mutual Fund	2.98 L	1,059.31	2.48%	3.388%	-0
Energy Opportunities Fund	SBI Mutual Fund	75,150	267.01	3.21%	0.854%	-0
Large and Midcap Fund	SBI Mutual Fund	61,631	218.97	0.52%	0.7%	-0
Children's Fund - Investment Plan (Erstwhile known as SBI Magnum Children's Benefit Fund- IP)	SBI Mutual Fund	40,000	142.12	1.83%	0.455%	-0
Portfolio of Kotak Large & Mid Cap FundNEW	Kotak Mahindra Mutual Fund	37,000	131.46	0.41%	0.42%	—
Small Cap FundNEW	ICICI Prudential Mutual Fund	19,651	69.82	0.71%	0.223%	—
ESG Exclusionary Strategy Fund	SBI Mutual Fund	17,000	60.4	1.13%	0.193%	-0
Energy Opportunities Fund	ICICI Prudential Mutual Fund	13,278	47.18	0.57%	0.151%	-806

1–8 of 55

1 / 7

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results27 Oct 2026 · in 25 daysresults

18

Final dividend17 Jul 2026 · ex-date₹110
Final dividend16 Jun 2025 · ex-date₹105
Final dividend24 Jul 2024 · ex-date₹100
Final dividend3 Aug 2023 · ex-date₹95
Dividend dividend8 Aug 2022 · ex-date₹90
Final dividend10 Aug 2021 · ex-date₹85
Final dividend10 Aug 2020 · ex-date₹75
Dividend dividend1 Aug 2019 · ex-date₹45
Dividend dividend27 Jul 2018 · ex-date₹32
Dividend dividend1 Aug 2017 · ex-date₹10
Dividend dividend2 Aug 2016 · ex-date₹10
Dividend dividend7 Jul 2015 · ex-date₹12.5
Dividend dividend10 Apr 2014 · ex-date₹10
Dividend dividend12 Apr 2013 · ex-date₹10
Dividend dividend3 Apr 2012 · ex-date₹10
Dividend dividend30 Mar 2011 · ex-date₹10
Dividend dividend31 Mar 2010 · ex-date₹10
Dividend dividend25 Mar 2008 · ex-date₹10

2

Board meeting to consider results27 Oct 2026
Board meeting to consider results29 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

4 announcementsExport CSV

1 Oct 2026, 1:26 pmBoard Meeting

Board Meeting Intimation for Financial Results For The Quarter And Half Year Ended September 30, 2026

Exchange filing PDF

28 Sept 2026, 2:13 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

16 Sept 2026, 2:31 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

9 Sept 2026, 4:58 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

Date	Category	Subject	Filing
1 Oct 2026, 1:26 pm	Board Meeting	Board Meeting Intimation for Financial Results For The Quarter And Half Year Ended September 30, 2026	PDF
28 Sept 2026, 2:13 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	48.1%	50.1%	49.7%	47.6%	46.8%	43%	39.2%	38.5%
EBITDA margin %	15.9%	19.3%	19.4%	14.7%	15.1%	14.5%	14%	12.9%
EBIT margin %	15.4%	18.1%	17.8%	12.9%	13.5%	13.2%	12.7%	11.8%
PAT margin %	11.3%	14.9%	15.1%	11.5%	12.7%	12.4%	12.5%	11.2%
Working capital
Receivable days	73	83	111	84	99	83	93	91
Inventory days	23	27	23	23	33	25	34	27
Payable days	—	—	225	171	144	120	123	130
NWC days	—	—	-92	-64	-12	-12	5	-12
Leverage
Current ratio	2.27	2.53	2.79	3.23	3.34	3.72	3.59	3.53
Debt to EBITDA	—	—	0	0	0	0	0	0
Debt to equity	—	—	0	0	0	0	0	0
Interest coverage	160.5	100.9	100.5	84.4	150.3	191.1	106.3	75.3
Asset turnover	1.1	0.95	0.77	0.74	0.77	0.83	0.75	0.75
Return ratios
Return on assets %	12.4%	14.2%	11.7%	8.5%	9.8%	10.2%	9.3%	8.4%
Return on capital employed %	34.7%	34%	25.1%	16.6%	19.4%	19.7%	18.2%	16.7%
Return on equity %	20.5%	22.6%	17.8%	12%	13.7%	13.9%	13%	11.8%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Indo-Mim LimitedINDOMIMINDOMIM	₹62,891 Cr	₹63,981 Cr	₹4,193 Cr	₹1,071 Cr	25.5%	₹534 Cr	12.7%	29.6%	21.3%	—
Aditya Infotech LimitedCPPLUSCPPLUS	₹44,797 Cr	₹44,910 Cr	₹4,883 Cr	₹709 Cr	13.4%	₹477 Cr	8.7%	33.8%	25.5%	61
Syrma Sgs Technology LimitedSYRMASYRMA	₹33,121 Cr	₹33,474 Cr	₹5,464 Cr	₹610 Cr	11.3%	₹402 Cr	7.2%	18.7%	15%	48
Honeywell Automation India LimitedHONAUTHONAUT	₹29,454 Cr	₹29,454 Cr	₹4,703 Cr	₹637 Cr	12.9%	₹551 Cr	11.2%	16.7%	12.4%	-12
Jyoti Cnc Automation LimitedJYOTICNCJYOTICNC	₹23,470 Cr	₹24,320 Cr	₹2,191 Cr	₹535 Cr	25.2%	₹322 Cr	16.1%	25.3%	18.2%	359
Kaynes Technology India LimitedKAYNESKAYNES	₹22,773 Cr	₹23,648 Cr	₹3,899 Cr	₹609 Cr	15.8%	₹346 Cr	10%	15.4%	9.6%	193
Lmw LimitedLMWLMW	₹17,706 Cr	₹17,706 Cr	₹3,374 Cr	₹219 Cr	5.3%	₹175 Cr	4.1%	6.4%	4.6%	23
Tega Industries LimitedTEGATEGA	₹15,721 Cr	₹16,039 Cr	₹3,059 Cr	₹231 Cr	13.7%	₹21 Cr	8.4%	8.5%	5.9%	153
Lloyds Engineering Works LimitedLLOYDSENGGLLOYDSENGG	₹14,553 Cr	₹14,587 Cr	₹1,611 Cr	₹229 Cr	14.5%	₹163 Cr	15.2%	17.5%	16.4%	184
Kennametal India LimitedKENNAMETKENNAMET	₹9,411 Cr	₹9,411 Cr	₹991 Cr	₹179 Cr	18.1%	₹114 Cr	11.5%	24.5%	18.5%	170
Dynamatic Technologies LimitedDYNAMATECHDYNAMATECH	₹9,354 Cr	₹9,883 Cr	₹1,675 Cr	₹200 Cr	11.3%	₹42 Cr	2%	12.3%	4.3%	142
Standard Engineering Technology LimitedSETLSETL	₹8,318 Cr	₹8,376 Cr	₹849 Cr	₹129 Cr	15.4%	₹89 Cr	10.7%	15.5%	10.7%	335

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	166	215	263	312	330	364	264	410	439	426	493
	46	-85	-174	-446	-227	-303	-109	-129	2,006	-14	-2,964
	-13	-11	-11	-34	-70	-89	-99	-102	-105	-110	-116
Net cash flow	199	120	78	-168	34	-28	56	179	2,339	302	-2,587
Free cash flow	—	—	—	—	330	316	251	382	407	399	460
CFO / Operating profit %	85.5%	76.2%	72.3%	61.9%	51.9%	61.9%	60.8%	79%	74.4%	72.9%	81.4%

Honeywell Automation India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Events

1

18

2

Announcements

1

18

2

Not in the F&O segment

Announcements

Annual reports

Compounded sales growth

Compounded profit growth

Return on equity

Honeywell Automation India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Events

Upcoming and recent1

Dividends18

Board meetings2

Announcements

Upcoming and recent1

Dividends18

Board meetings2

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

18

2

1

18

2