Hindustan Aeronautics Limited's revenue up by 11% at Rs 29,810 crore

Bengaluru: Hindustan Aeronautics Limited on Monday said that it has recorded revenue from operations of over Rs 29,810 crore (provisional and unaudited) for the financial year 2023-24 registering a growth of around 11 per cent as against nine per cent in the previous fiscal.

The corresponding figure for the previous year was Rs. 26,928 crore, the Bengaluru-headquartered defence PSU said in a statement.

HAL Chairman and Managing Director (Additional Charge), C B Ananthakrishnan said that despite major supply chain challenges arising due to geopolitical issues, the company has met the expected revenue growth with improved performance for the entire year.

"As on March 31, 2024, the company's order book stands in excess of Rs 94,000 crore with additional major orders expected during 2024-25," Ananthakrishnan said.

HAL received fresh manufacturing contracts of over Rs 19,000 crore and Repair and Overhaul (ROH) contracts of over Rs 16,000 crore during 2023-24.

An export contract with Guyana Defence Forces for supply of two Hindustan-228 aircraft was signed during 2023-24.

A milestone was achieved with the first production series fighter of LCA Mk1A completing its maiden flight on March 28, 2024.

During the year, HAL and General Electric, USA signed an MoU for transfer of technology and manufacturing of GE-414 aero-engine in India for LCA MK2 Aircraft.

The company would receive 80 per cent technology transfer for this programme which would transform the Indian aero engine manufacturing ecosystem to be self-reliant, the statement claimed.

A joint venture 'SAFHAL Helicopter Engines Pvt. Ltd' was formed with Safran Helicopter Engines, France, for indigenous design and development of engines for Indian Multi-Role Helicopter (IMRH) and Deck Based Multi-Role Helicopter (DBMRH).

During the financial year, HAL and Airbus signed a contract for establishing maintenance, repair, and operations facilities for the A-320 family of aircrafts in New Delhi. This collaboration will strengthen the 'Make-in-India' mission and also enhance export potential, HAL said.