R Madhavan, Chairman and Managing Director, Hindustan Aeronautics Limited (HAL), allayed fears and concerns of shareholders and reiterated his commitment to pursue growth opportunities for the company.
Addressing here on Friday the company’s 55th Annual General Body Meeting, its first after the company got listed, Madhavan presented the performance of the company for the financial year 2017-18 and explained the future plans.
He said that inspite of the many challenges, the company has achieved significant growth in revenue and profits.
Reading out the 55th Annual Report for FY 2017-18, he said the company recorded its highest ever turnover of ₹18,283 crore in comparison with the previous year’s turnover of ₹17,603 crore. The Profit Before Tax for the year was ₹3,322 crore (₹3,582 crore).
The Profit After Tax (PAT) for the year was ₹2,070 crore.
The company produced 40 aircraft and helicopters covering Su-30 MKI, LCA Tejas and Dornier Do-228 in fixed wing, and ALH Dhruv and Cheetal Helicopters in rotary wing.
In addition, HAL produced 105 new engines, overhauled 220 aircraft/helicopters and 550 engines. Also 146 new aero-structures for space programmes were produced during the period.