Hindustan Aeronautics Limited (HAL) announced on Monday that it has recorded provisional and unaudited revenue from operations exceeding Rs 29,810 crore for the financial year 2023-24. This marks a growth of around 11% compared to the previous fiscal year’s nine percent growth.
The Bengaluru-based defence PSU disclosed that the corresponding figure for the previous year stood at Rs. 26,928 crore.
C B Ananthakrishnan, the Chairman and Managing Director (Additional Charge) of HAL, stated that despite facing significant supply chain challenges due to geopolitical issues, the company achieved the expected revenue growth through enhanced performance throughout the year.
“As of March 31, 2024, the company’s order book exceeds Rs 94,000 crore, with additional major orders anticipated during the fiscal year 2024-25,” Ananthakrishnan added.
During the fiscal year 2023-24, HAL secured fresh manufacturing contracts worth over Rs 19,000 crore and Repair and Overhaul (ROH) contracts amounting to over Rs 16,000 crore.
Notable achievements during the year included signing an export contract with Guyana Defence Forces for the supply of two Hindustan-228 aircraft and the successful maiden flight of the first production series fighter of LCA Mk1A on March 28, 2024.
Furthermore, HAL entered into a significant MoU with General Electric, USA, for technology transfer and manufacturing of GE-414 aero-engine in India for LCA MK2 Aircraft. This program, with 80% technology transfer, aims to bolster India’s aero engine manufacturing ecosystem for self-reliance.
HAL also established a joint venture named ‘SAFHAL Helicopter Engines Pvt. Ltd’ with Safran Helicopter Engines, France, for the indigenous design and development of engines for Indian Multi-Role Helicopter (IMRH) and Deck Based Multi-Role Helicopter (DBMRH).
In addition, HAL inked a contract with Airbus for setting up maintenance, repair, and operations facilities for the A-320 family of aircraft in New Delhi. This collaboration is poised to reinforce the ‘Make-in-India’ initiative and boost export potential, HAL emphasized.
