HAL registers double digit growth, revenues soar to ₹29,810 crore for FY24

Defence PSU Hindustan Aeronautics Ltd has recorded its highest ever revenue from operations at ₹29,810 crore registering a growth of 11 per cent against ₹26,928 crore in the corresponding period previous year despite major supply chain challenges arising due to geopolitical issues.

“Despite the 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 of March 31, 2024, the Company’s order book stands in excess of ₹94,000 crores with additional major orders expected during FY24-25”, said CB Ananthakrishnan, CMD, HAL.

• Also read: HAL signs contract with Cochin Shipyard for ₹1173.42 crore

HAL received fresh manufacturing contracts of over ₹19,000 crore and ROH contracts of over ₹16,000 crore during FY23-24.

Significant milestone

“The Company has maintained the growth momentum and has achieved an all-round improved performance. A very significant milestone was achieved with the first production series fighter of LCA Mk1A completing its maiden flight on March 28,” said the company in its statement.

During the year, HAL and General Electric signed an MoU for ToT and Manufacturing of GE-414 aero-engine in India for LCA MK2 Aircraft. The company would receive 80 per cent technology transfer for this program which would transform the Indian Aero Engine Manufacturing Ecosystem to be self-reliant.

A Joint Venture “SAFHAL Helicopter Engines Pvt Ltd” was formed with Safran Helicopter Engines, France for indigenous design and development of Engines for IMRH and DBMRH.

• Also read: First LCA Mk1A takes to skies; HAL CMD calls it ‘significant production milestone’

During the FY, HAL and Airbus signed a contract for establishing MRO facilities for A-320 family of aircraft in New Delhi. This collaboration will strengthen Make-in-India mission and also enhance export potential.

On X, the President of Guyana, posted, “The Hindustan Aeronautics Limited @HALHQBLR delivered two Dornier 228 planes to the Guyana Defence Force. The planes arrived at Cheddi Jagan International Airport last evening aboard two Boeing C-17 Globemaster military transport planes.”

Shares of Hindustan Aeronautics Ltd were up by 2.39 per cent at ₹3,403 a piece on Monday at the BSE.

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