Hindustan Aeronautics Limited (HAL) experienced a significant decline in its share price, dropping nearly 5% to an intraday low of ₹4,381.2 following the announcement of its Q4FY26 results. The company reported a consolidated net profit of ₹4,196 crore, reflecting a 5.5% increase from ₹3,977 crore in the same quarter of the previous fiscal year. However, revenue growth was modest, rising only 2% to ₹13,942 crore. The company's EBITDA also fell, with margins contracting to 36.3%, down from 38.6% a year earlier, which raised concerns among investors. Despite these challenges, HAL's full-year results showed a 9% year-on-year increase in net profit to ₹9,116 crore and a 7% rise in revenue to ₹33,089 crore. The order book stood strong at approximately ₹2.54 trillion, bolstered by major contracts with the Ministry of Defence. Analysts from JM Financial noted that while HAL's Q4 EBITDA was slightly above their estimates, it fell short of broader consensus expectations, attributing margin pressure to weaker gross margins. They maintain a 'Buy' rating with a target price of ₹4,875.