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HONAUT - Honeywell Auto

📊 NSE: HONAUT 🏢 Electronics - Components 📅 Last Updated: 12/14/2025 7:47

📢 Recent Corporate Announcements

Honeywell Automation India CFO Pulkit Goyal Resigns Effective April 30, 2026

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 02 Feb 2026, 06:37 PM

Honeywell Automation India Limited (HONAUT) has announced the resignation of Mr. Pulkit Goyal from the position of Chief Financial Officer and Key Managerial Personnel. The Board of Directors accepted his resignation during a meeting held on February 2, 2026, with his tenure set to conclude on April 30, 2026. Mr. Goyal is leaving the organization to pursue other professional opportunities. The company has approximately three months to manage the transition and identify a successor for the critical finance role.

Mr. Pulkit Goyal resigned as CFO and Key Managerial Personnel effective April 30, 2026.
The resignation was accepted by the Board of Directors on February 2, 2026.
The outgoing CFO will serve a notice period of nearly three months to facilitate a smooth transition.
The reason for departure is cited as pursuing other opportunities outside the company.

💡 Investors should monitor the company's upcoming announcements regarding the appointment of a new CFO to ensure continuity in financial strategy. No immediate impact on operations is expected given the orderly transition period provided.

HONAUT Q3 Revenue Up 7% to ₹11,687 Mn; PAT Dips 8% on Exceptional Item

🟡 NEUTRAL ⭐ 8/10

EARNINGS 📅 02 Feb 2026, 06:33 PM

Honeywell Automation India Limited (HONAUT) reported a 7.1% YoY increase in revenue for Q3 FY26, reaching ₹11,687 million. However, net profit for the quarter declined by 8.2% YoY to ₹1,212 million, primarily due to an exceptional item of ₹114 million related to the new Labour Code on Wages. Employee benefit expenses also saw a significant rise of 16.8% YoY, impacting operating margins. Despite the quarterly profit dip, the nine-month revenue performance remains strong with a 13.8% growth compared to the previous year.

Revenue from operations grew 7.1% YoY to ₹11,687 million in Q3 FY26.
Net Profit (PAT) decreased by 8.2% YoY to ₹1,212 million from ₹1,321 million.
Recognized a one-time exceptional charge of ₹114 million (net) for gratuity and compensated absences.
Employee benefit expenses rose to ₹2,144 million, up from ₹1,835 million in the year-ago period.
Nine-month revenue for FY26 stands at ₹35,012 million compared to ₹30,751 million in FY25.

💡 Investors should look past the one-time exceptional hit to PAT and focus on the steady 7-13% revenue growth trajectory. Monitor if the rise in employee benefit expenses persists as a trend affecting long-term margins.

Honeywell Automation Shareholders Approve Director Appointments with Over 99% Majority

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 30 Jan 2026, 10:01 PM

Honeywell Automation India Limited (HONAUT) shareholders have approved the appointment of Mr. Jake Morgan Wasserman as a Non-Executive Director and the re-appointment of Dr. Ganesh Natarajan as an Independent Director. Both resolutions were passed with significant majorities of 99.92% and 99.01% respectively. The voting saw a high turnout, with approximately 89.08% of the total share capital represented in the poll. These appointments ensure continuity in the company's board structure and governance.

Appointment of Jake Morgan Wasserman as Non-Executive Director approved with 99.92% votes in favor.
Re-appointment of Dr. Ganesh Natarajan as Independent Director passed with 99.01% majority.
Total votes polled reached 7,876,029, representing 89.08% of the company's outstanding shares.
The resolutions were conducted via postal ballot through remote e-voting from Jan 1 to Jan 30, 2026.

💡 The high approval ratings indicate strong shareholder confidence in the board's composition. No immediate action is required as these are routine governance matters.

Honeywell Automation Files Quarterly SEBI Compliance Certificate for Dec 2025

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 08 Jan 2026, 05:01 PM

Honeywell Automation India Limited (HONAUT) has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The filing confirms that the company has processed and reported all dematerialization and rematerialization requests for the quarter ended December 31, 2025. This is a standard procedural disclosure required by all listed companies to ensure the accuracy of shareholding records with depositories. There is no material impact on the company's financial position or business operations.

Compliance certificate submitted for the quarter ended December 31, 2025
Filed under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
Confirms reporting of security dematerialization/rematerialization to NSE and BSE
Official document signed and dated January 8, 2026

💡 This is a routine regulatory filing with no impact on stock valuation. No action is required from investors.

Honeywell Automation Seeks Shareholder Approval for Key Board Appointments via Postal Ballot

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 31 Dec 2025, 12:49 PM

Honeywell Automation India Limited (HAIL) has initiated a postal ballot process to seek shareholder approval for two key board positions. The company proposes the appointment of Mr. Jake Morgan Wasserman as a Non-Executive Director and the re-appointment of Dr. Ganesh Natarajan as an Independent Director. Dr. Natarajan's proposed second term is for a period of 3 years, effective from March 8, 2026, to March 7, 2029. Shareholders as of the cut-off date of December 26, 2025, are eligible to participate in the remote e-voting process.

Proposed re-appointment of Dr. Ganesh Natarajan as an Independent Director for a second term of 3 years starting March 8, 2026.
Appointment of Mr. Jake Morgan Wasserman as a Non-Executive Director, following his initial board entry on November 5, 2025.
Remote e-voting period scheduled from January 1, 2026 (9:00 AM) to January 30, 2026 (5:00 PM).
The eligibility cut-off date for shareholders to cast their votes was Friday, December 26, 2025.
The resolutions include one Ordinary Resolution for Mr. Wasserman and one Special Resolution for Dr. Natarajan.

💡 Investors should review the profiles of the directors in the explanatory statement and participate in the e-voting process before the January 30, 2026 deadline. These are routine governance matters and are not expected to have a direct impact on the stock's short-term price performance.

Honeywell Automation Re-appoints Dr. Ganesh Natarajan as Independent Director for 3-Year Term

🟢 POSITIVE ⭐ 6/10

MANAGEMENT 📅 30 Dec 2025, 07:11 PM

Honeywell Automation India Limited (HONAUT) has approved the re-appointment of Dr. Ganesh Natarajan as an Independent Director for a second term of three years. The new term will commence on March 8, 2026, and conclude on March 7, 2029, subject to shareholder approval. Dr. Natarajan is a highly experienced leader, having previously served as the Chairman of NASSCOM and CEO of Zensar, where he scaled the business from 300 to 3,000 crores. His continued presence on the board provides stability and strong strategic oversight for the company.

Re-appointment of Dr. Ganesh Natarajan for a second term of 3 consecutive years.
New term effective from March 8, 2026, to March 7, 2029.
Dr. Natarajan has a proven track record of scaling Zensar from 300 to 3,000 crores.
He holds a PhD from IIT Bombay and is an alumnus of Harvard Business School.

💡 Investors should view this as a positive move for corporate governance and leadership continuity. No immediate action is required as this is a routine re-appointment of a high-caliber board member.

Honeywell Automation to Close Trading Window from Jan 1, 2026, for Q3 FY26 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 29 Dec 2025, 08:48 PM

Honeywell Automation India Limited (HONAUT) has announced the closure of its trading window starting January 1, 2026. This is a standard regulatory requirement under SEBI Insider Trading regulations ahead of the declaration of financial results for the third quarter and nine months ending December 31, 2025. The window will remain closed for all designated persons and insiders until 48 hours after the results are officially announced. The specific date for the board meeting to approve these results will be communicated in due course.

Trading window closure commences on January 1, 2026.
Closure is related to the financial results for Q3 and the nine-month period ending December 31, 2025.
The restriction applies to all designated persons, insiders, and their immediate relatives.
Trading window will reopen 48 hours after the financial results are declared to the exchanges.

💡 This is a routine regulatory filing and does not impact the company's fundamentals. Investors should monitor for the upcoming board meeting date to track the Q3 earnings performance.

View All HONAUT Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue from operations grew 3.2% YoY to INR 4,189.6 Cr. The domestic segment registered revenue of INR 2,427.1 Cr, representing a 0.4% growth YoY. The export segment grew 7.2% YoY to INR 1,754.6 Cr.

Geographic Revenue Split

The revenue mix for FY 2024-25 was 58% Domestic (India) and 42% Exports. This compares to a 60% Domestic and 40% Export split in the previous year.

Profitability Margins

Net income was 12.5% of sales (INR 523.6 Cr) compared to 12.4% in the previous year. Cost of goods sold (COGS) increased to 60.8% of sales from 57.0% in the prior year, indicating rising input costs.

EBITDA Margin

Profit before tax (PBT) for FY 2024-25 was INR 705.6 Cr, representing a PBT margin of 16.8%. For the half-year ended September 30, 2025, PBT was INR 328.7 Cr, down 3.1% from INR 339.4 Cr in the previous period.

Capital Expenditure

Property, Plant and Equipment (PPE) stood at INR 90.8 Cr as of September 30, 2025, down from INR 103.2 Cr in March 2025. Capital work-in-progress was INR 5.7 Cr.

Credit Rating & Borrowing

The company maintains a strong net cash position with cash and cash equivalents of INR 3,061.3 Cr as of September 30, 2025. Finance costs were minimal at INR 6.7 Cr for FY 2024-25.

⚙️ Operational Drivers

Raw Materials

Specific raw material names are not disclosed, but 'Purchases of stock in trade' accounted for INR 428 Cr in FY 2024-25. COGS represents 60.8% of total sales.

Key Suppliers

A significant portion of procurement and business relationships are maintained with Honeywell affiliates, including the ultimate holding company.

Raw Material Costs

Cost of goods sold was 60.8% of sales (INR 2,547.3 Cr) in FY 2024-25, up from 57.0% in the previous year due to inflationary pressures.

📈 Strategic Growth

Expected Growth Rate

14.10%

Growth Strategy

Growth is driven by the 'India Automation Megatrend' strategy, focusing on Industrial and Building Automation SBGs. The company is leveraging a 14.1% YoY increase in its New Orders book and focusing on domestic business, which is growing faster than exports in terms of strategic priority.

Products & Services

Automation and control systems, industrial automation solutions, and building automation technologies.

Brand Portfolio

Honeywell

New Products/Services

Portfolio is aligned to the global Honeywell mega trend of Automation, specifically within Industrial and Building Automation segments.

Market Expansion

The company is focusing on the domestic Indian market, which currently contributes 58% of revenue, while maintaining a strong export presence (42%).

Strategic Alliances

The company operates as a subsidiary of Honeywell International Inc., utilizing its global technology and brand.

🌍 External Factors

Industry Trends

The industry is shifting toward the 'Automation Megatrend'. Honeywell is positioning itself within Industrial and Building Automation to capture growth as India's industrial sector evolves.

Competitive Landscape

Highly competitive environment featuring both local startups and established global players, leading to significant pricing pressure.

Competitive Moat

Moat is derived from the global Honeywell brand, advanced technology in automation, and a strong relationship with the parent company, which provides a competitive edge in complex project execution.

Macro Economic Sensitivity

Sensitive to India's GDP growth and consumer price inflation. Slower GDP growth and elevated energy prices are noted as potential hindrances to industrial output in 2025.

Consumer Behavior

Industrial demand is shifting toward automated and efficient building and industrial solutions to counter rising energy and labor costs.

Geopolitical Risks

Global supply chain disruptions and trade barriers are identified as risks that could delay production and impact material availability.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by Section 188 of the Companies Act and Regulation 23 of the SEBI Listing Regulations, particularly regarding related party transactions with Honeywell affiliates.