HAL vs MAZDOCK: share price, P/E, ROE and financials compared
Hindustan Aeronautics
Mazagoan Dock Shipbuilders
HAL and MAZDOCK at a glance
HAL and MAZDOCK are both listed in Capital Goods. HAL is the larger by market cap, at ₹3.3L Cr against ₹74,222 Cr for MAZDOCK (4.5 times as large). On valuation, MAZDOCK has the lower P/E (30.3× against 35.7×) and the lower price-to-book (7.10× against 8.12×). On returns and margins, HAL has the higher ROE (24.0% against 23.2%) and the higher operating margin (25.3% against 16.2%), while MAZDOCK has the higher ROCE (28.5% against 13.8%). Over three years, MAZDOCK has faster 3-year sales growth (+19.6% against +6.4% a year) and faster 3-year profit growth (+32.2% against +16.1% a year). HAL carries less debt for its equity, with a debt-to-equity of 0.00× against 0.08×.
Key metrics, side by side
| Metric | HALHAL | MAZDOCKMAZDOCK |
|---|---|---|
| Price (₹) | 4,980.00 | 1,840.00 |
| Market cap (₹ Cr) | 3,33,050 | 74,222 |
| P/E | 35.7× | 30.3× (the lower figure, shaded) |
| P/B | 8.12× | 7.10× (the lower figure, shaded) |
| Dividend yield, trailing | 0.90% | 0.93% |
| ROE | 24.0% (the higher figure, shaded) | 23.2% |
| ROCE | 13.8% | 28.5% (the higher figure, shaded) |
| Operating margin (OPM) | 25.3% (the higher figure, shaded) | 16.2% |
| Net margin (NPM) | 27.6% (the higher figure, shaded) | 17.7% |
| Sales CAGR 3Y | +6.4% | +19.6% (the higher figure, shaded) |
| Profit CAGR 3Y | +16.1% | +32.2% (the higher figure, shaded) |
| Debt to equity | 0.00× (the lower figure, shaded) | 0.08× |
| Interest cover | 2099.8× (the higher figure, shaded) | 46.1× |
| Net profit TTM (₹ Cr) | 9,322 | 2,452 |
| 1Y return | +7.6% (the higher figure, shaded) | −31.5% |
| Promoter holding | – | – |
HAL vs MAZDOCK: common questions
Which is bigger, HAL or MAZDOCK?
By market cap, HAL is bigger at ₹3.3L Cr, against ₹74,222 Cr for MAZDOCK (prices as of 6 Nov 2026). Net profit over the last twelve months was ₹9,322 Cr for HAL and ₹2,452 Cr for MAZDOCK.
Which has a lower P/E ratio, HAL or MAZDOCK?
HAL trades at a P/E of 35.7× and MAZDOCK at 30.3×. MAZDOCK has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, HAL or MAZDOCK?
HAL reports a return on equity of 24.0% and MAZDOCK 23.2%. HAL has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, HAL or MAZDOCK?
Over the last three years: Sales grew +6.4% a year at HAL and +19.6% at MAZDOCK, so MAZDOCK grew sales faster; profit grew +16.1% a year at HAL and +32.2% at MAZDOCK, so MAZDOCK grew profit faster. Past growth doesn’t predict future growth.