HAL records Rs19,400-cr turnover for 2018-19 fiscal
02 April 2019
State-owned Hindustan Aeronautics Limited (HAL) has recorded turnover of over Rs19,400 crore for the 2018-19 financial year, ended 31 March against Rs18,284 crore in the previous financial year.
HAL posted a revenue growth in excess of 6 per cent during the year compared to a growth of 3.8 per cent during 2017-18.
"The performance of the Company in 2018-19 has encouraged us to focus more on design and development of indigenous products and technologies, develop aerospace and defence manufacturing eco-system and to be more dedicated towards meeting the current and future requirements of customers," HAL chief managing director R Madhavan said.
HAL manufactured 41 new aircraft, including helicopters as well as 98 new engines in 2018-19. It also carried out overhaul of 213 aircraft, helicopters and 540 engines during the year.
HAL said it has produced 12 new Advanced Light Helicopters for the Indian Army against the contracted 40, of which six were produced ahead of schedule.
During the next fiscal starting April 2019 HAL is expected to meet a major milestone of completing the manufacturing order for SU-30MKI and commence manufacturing operations of the KA-226T helicopter. HAL will be manufacturing the helicopter as a ‘Make in India’ project in partnership with Russian Helicopters.
HAL is also in track to licence-manufacture 18 more Su-30MKI fighter jets for the Indian Air Force in its Nashik plant. The procurement is intended to shore up the fighter fleet of the Indian Air Force (IAF) which has slunk to 31 squadrons; its lowest in over a decade
HAL’s new helicopter manufacturing facility at Tumakuru has gained momentum after the company signed an MoU with Central Public Works Department (CPWD) at Aero India 2019. The memorandum was signed between the companies for the execution of the stage 2 works of Infrastructure development works at HALs Green Field Helicopter factory, the company said in a statement Friday
India has requested Russia to prolong the licence for manufacturing the Su-30MKI aircraft at Hindustan Aeronautics Limited (HAL) facilities in India which could mean an additional order for the multi role righter is on track once the 222 planes under the current order are delivered to the IAF.