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BENGALURU: Defence PSU Hindustan Aeronautics Limited (HAL) Monday said it recorded its highest ever revenue from operations of more than Rs 29,810 crore for the financial year 2023-24. This represents a double digit growth of around 11%, surpassing the previous year’s growth of 9%. The corresponding figure for FY 2022-23 stood at Rs 26,928 crore.
HAL CMD CB Ananthakrishnan, said, “Despite major supply chain challenges arising due to geopolitical issues, the company has met the expected revenue growth with improved performance throughout the year.As of March 31, 2024, our order book exceeds an impressive Rs 94,000 crore, with additional major orders expected during FY 2024-25.”
HAL secured fresh manufacturing contracts worth more than Rs 19,000 crore and Repair and Overhaul (ROH) contracts exceeding Rs 16,000 crore during the 2023-24 fiscal. Notably, it signed an export contract with the Guyana Defence Forces for the supply of two Hindustan-228 aircraft, which were delivered in record time within a month of contract signing.
“The year was eventful for HAL, marked by high-profile visits, significant achievements in customer satisfaction, branding, recognition, and building stakeholder trust and confidence. A major milestone was the maiden flight of the first production series fighter of LCA Mk1A on March 28,” HAL said.
Stating that it continues to explore opportunities for collaboration and technology development by forging alliances with global and Indian partners, HAL said that during the year, it signed an MoU with General Electric, US, for Transfer of Technology (ToT) and manufacturing of the GE-414 aero-engine in India for the LCA MK2 aircraft.
This programme will facilitate 80% technology transfer, and additionally, HAL formed a joint venture, “SAFHAL Helicopter Engines Pvt Ltd,” with Safran Helicopter Engines, France, for indigenous design and development of engines for the Indian Multi-Role Helicopter (IMRH) and Deck-Based Multi-Role Helicopter (DBMRH).
It also signed a contract to establish Maintenance, Repair, and Overhaul (MRO) facilities for the A320 family of aircraft with Airbus.
HAL CMD CB Ananthakrishnan, said, “Despite major supply chain challenges arising due to geopolitical issues, the company has met the expected revenue growth with improved performance throughout the year.As of March 31, 2024, our order book exceeds an impressive Rs 94,000 crore, with additional major orders expected during FY 2024-25.”
HAL secured fresh manufacturing contracts worth more than Rs 19,000 crore and Repair and Overhaul (ROH) contracts exceeding Rs 16,000 crore during the 2023-24 fiscal. Notably, it signed an export contract with the Guyana Defence Forces for the supply of two Hindustan-228 aircraft, which were delivered in record time within a month of contract signing.
“The year was eventful for HAL, marked by high-profile visits, significant achievements in customer satisfaction, branding, recognition, and building stakeholder trust and confidence. A major milestone was the maiden flight of the first production series fighter of LCA Mk1A on March 28,” HAL said.
Stating that it continues to explore opportunities for collaboration and technology development by forging alliances with global and Indian partners, HAL said that during the year, it signed an MoU with General Electric, US, for Transfer of Technology (ToT) and manufacturing of the GE-414 aero-engine in India for the LCA MK2 aircraft.
This programme will facilitate 80% technology transfer, and additionally, HAL formed a joint venture, “SAFHAL Helicopter Engines Pvt Ltd,” with Safran Helicopter Engines, France, for indigenous design and development of engines for the Indian Multi-Role Helicopter (IMRH) and Deck-Based Multi-Role Helicopter (DBMRH).
It also signed a contract to establish Maintenance, Repair, and Overhaul (MRO) facilities for the A320 family of aircraft with Airbus.
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