HAL registers record revenue of ₹29,810 crore in FY 202324
Bengaluruheadquartered defence PSU registers double digit growth of around 11%
Hindustan Aeronautics Limited (HAL) recorded the highestever revenue from operations of over ₹29,810 crore (provisional and unaudited) for the financial year ended on March 31, 2024. The corresponding figure for the previous year was ₹26,928 crore. The Bengaluruheadquartered defence PSU has registered double digit growth of around 11%, as against 9% in the previous financial year.
“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 ₹94,000 crore with additional major orders expected during FY 202425,” said C.B. Ananthakrishnan, CMD (additional charge), HAL.
The PSU has received fresh manufacturing contracts of over ₹19,000 crore, and Repair and Overhaul (ROH) contracts of over ₹16,000 crore during FY 202324.
Milestones in FY 2023-24
An export contract with Guyana defence forces for supply of two Hindustan 228 aircraft was signed in the current FY 202324. Both the aircraft have been supplied in record time within a month of signing of contract.
A significant milestone was the maiden flight of the first production series fighter of LCA Mk1A on March 28.
HAL and General Electric, U.S.A. signed an MoU for the transfer of technology (TOT) and manufacturing of GE414 aeroengine in India for LCA MK2 aircraft. The company would receive 80% technology transfer for this programme, which is expected to help the Indian aero engine manufacturing ecosystem to become selfreliant.
A joint venture —
SAFHAL Helicopter Engines Private Limited — was formed with Safran Helicopter Engines of France for indigenous design and development of engines for Indian multirole helicopter and deckbased multirole helicopter.
HAL and Airbus signed a contract for establishing an MRO facility for the A320 family of aircraft in New Delhi. This collaboration will strengthen MakeinIndia mission, and also enhance export potential.