Indian state-owned aerospace and defence company Hindustan Aeronautics Limited (HAL) has recorded a 6 per cent jump in turnover from INR 182.84 billion in the previous fiscal to INR 194 billion in the financial year ended March 31, 2019. The growth in revenue during the 2017–18 period was 3.8 per cent.
“The performance of the Company in 2018–19 has encouraged us to focus more on design and development of indigenous products and technologies, develop aerospace and defence manufacturing eco-system and to be more dedicated towards meeting the current and future requirements of customers,” says R. Madhavan, Chairman and Managing Director, HAL. “This strategy will also help HAL to be on the growth track in meeting the expectations of the shareholders,” he adds.
In the FY 2018–19, HAL has produced 41 new aircraft and helicopters and 98 new engines and has carried out overhaul of 213 aircraft and helicopters and 540 engines.
“HAL’s R&D projects are on track and are tailor made for the requirement of the armed forces,” read a communiqué from the company. “The HAL expects continued ‘Excellent’ MoU rating for the FY 2018–19 from Government of India for meeting all the relevant parameters related to its performance.”
HAL has produced 12 new ALHs against the contract of 40, out of which six were produced ahead of schedule for the Indian Army.
