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Indian listed subsidiary of Honeywell, providing industrial process automation and building-management control systems.
Indian listed subsidiary of Honeywell, providing industrial process automation and building-management control systems.
Revenue arrives as project orders for plant control systems and building controls, followed by service and upgrade contracts on installed systems over their long life. Honeywell, its parent, owns the large majority and supplies the technology.
Moat: narrow (brand, IP / patents, installed base). Access to Honeywell's global automation technology and an installed base of control systems, but Siemens/ABB/Schneider compete closely.
Headquarters: Pune, India · Founded: 1984 · Employees: 7,578
Size Honeywell Automation India (HONAUT.NS) is an India Industrials company (Electronic Equipment/Instruments) with a market value of $2.81B, the 302nd largest of 1,058 India companies the cockpit tracks. Shares closed at ₹30,080 on 6 Nov 2026.
Performance Over six months the shares fell 1.7%, against -13.1% for the median peer and 0.0% for the India market (cap-weighted) — 5th highest of 15 in its peer set.
Growth Revenue grew 5.3% over the last twelve months (peer median +7.8%); the operating margin is 12.7% (peer median 14.0%).
Valuation It trades at 39.5× forward earnings against a peer median of 18.8× (2nd most expensive of 13).
Price implies For today's price to make sense, revenue must grow about 33% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is +24 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 33.1 points above its cost of capital (14.9% WACC).
Next results Next results expected around 5 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹47.8B | ₹46.8B | ₹41.8B | ₹40.6B | ₹34.3B |
| Revenue growth | — | +12% | +3% | +18% | — |
| Gross profit | ₹9.87B | ₹8.95B | ₹8.45B | ₹10.2B | ₹9.07B |
| EBITDA | ₹6.60B | ₹6.45B | ₹6.07B | ₹6.06B | ₹5.33B |
| Net income | ₹5.65B | ₹5.25B | ₹5.24B | ₹5.01B | ₹4.38B |
| Free cash flow | n/a | ₹6.09B | ₹5.72B | ₹5.46B | ₹4.57B |
| Capital expenditure | n/a | ₹330M | ₹279M | ₹320M | ₹280M |
| Total debt | ₹997M | ₹1.10B | ₹1.01B | ₹596M | ₹363M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Honeywell Automation India HONAUT.NS | $2.81B | -2% | +5% | 13% | 39.5× | 32.9% |
| Siemens SIEMENS.NS | $13.4B | -8% | -12% | 9% | 72.7× | n/a |
| ABB India ABB.NS | $15.2B | -6% | +8% | 13% | 85.7× | 47.3% |
| Emerson Electric EMR | $90.6B | +15% | +5% | 21% | 22.3× | 19.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HONAUT.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -9.8% | -8.6% | 7th lowest of 15 |
| 6-month return | -1.7% | -13.1% | 5th highest of 15 |
| Distance from 52-week high | -27.5% | -26.9% | 7th lowest of 15 |
| Revenue growth (TTM) | +5.3% | +7.8% | 6th lowest of 15 |
| Operating margin | 12.7% | 14.0% | 6th lowest of 15 |
| Forward P/E | 39.5× | 18.8× | 2nd most expensive of 13 |
| Growth the price implies (Req g, 7 yrs) | 32.9% | 8.3% | most demanding of 10 |
| Growth delivered (Del g) | +9.2% | +6.3% | 2nd highest of 10 |
| Hurdle (Req g minus delivered) | +23.7 pp | +1.6 pp | most demanding of 10 |
| ROIC minus cost of capital | +33.1 pp | +1.8 pp | highest of 15 |
| EV / EBITDA | 34.6× | 14.9× | 2nd most expensive of 12 |
| Net debt / EBITDA | -5.6× | 1.6× | least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Honeywell Automation India HONAUT.NS | India | $2.81B | -2% | +5% | 13% | 39.5× | 32.9% | +9.2% |
| Standex International SXI | United States | $2.76B | -13% | +8% | 18% | 20.9× | 15.2% | +6.3% |
| Shihlin Electric & Engineering 1503.TW | Taiwan | $2.51B | -20% | +8% | 12% | 18.9× | 11.5% | +7.7% |
| Azbil 6845.T | Japan | $4.63B | -2% | +1% | 15% | 18.7× | 5.5% | +3.9% |
| Sensata Technologies ST | United States | $5.72B | -13% | +4% | 16% | 9.9× | 5.2% | +4.1% |
| Yokogawa Electric 6841.T | Japan | $6.24B | -30% | +7% | 13% | 15.5× | 6.8% | +10.1% |
| APAR Industries APARINDS.NS | India | $6.25B | +10% | +23% | 9% | 34.6× | n/a | n/a |
| MSA Safety MSA | United States | $6.55B | 0% | +8% | 22% | 17.5× | 8.3% | +6.8% |
| ESCO Technologies ESE | United States | $7.14B | -24% | +17% | 16% | 25.8× | 25.5% | +8.4% |
| China Railway Signal & Communication 3969.HK | Hong Kong | $7.40B | -15% | +6% | 12% | 7.4× | -6.9% | -3.6% |
| Ralliant RAL | United States | $7.49B | +43% | -4% | 15% | 19.2× | 20.5% | -0.3% |
| Genus Power Infrastructures GENUSPOWER.NS | India | $922M | -14% | +74% | 18% | 12.2× | n/a | n/a |
| Spectrum Electrical Industries SPECTRUM.NS | India | $800M | +262% | +104% | 13% | n/a | n/a | n/a |
| FuelCell Energy FCEL | United States | $796M | -27% | +1% | -88% | n/a | n/a | n/a |
| Posco Future M 003670.KS | South Korea | $10.6B | -36% | -9% | 2% | 282.1× | n/a | n/a |