HAL reports record revenues of Rs 29,810 cr in FY 23-24

Bengaluru: Hindustan Aeronautics Limited (HAL) recorded its highest-ever revenue from operations during the financial year 2023-24 – Rs 29,810 crore. This marks a growth of around 11 per cent for the defence PSU, as against 9 per cent in the previous FY when it recorded Rs 26,928 crore.

“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 on March 31, 2024, the company’s order book stands in excess of Rs 94,000 crore with additional major orders expected during FY 2024-25,” C B Ananthakrishnan, CMD (additional charge), HAL, said.

HAL received fresh manufacturing contracts of over Rs 19,000 crore and repair and overhaul contracts of over Rs 16,000 crore during FY 2023-24. The PSU said on Monday that an export contract with the Guyana Defence Forces for the supply of two Hindustan - 228 aircraft was signed during the FY and both the aircraft were supplied “in record time” – within a month of signing of the contract.

HAL, on March 28, completed the maiden flight of the Tejas Mk1A fighter, a key milestone in its LCA programme.

During FY 23-24, HAL and General Electric, USA, signed an MoU for the transfer of technology and manufacturing of the GE-414 aero-engine in India for the LCA MK2 aircraft. HAL would receive 80 per cent technology transfer for this programme which would be a significant step toward enabling the Indian aero engine manufacturing ecosystem to become self-reliant.

SAFHAL Helicopter Engines Pvt. Ltd, a joint venture with Safran Helicopter Engines, France, was formed for the indigenous design and development of engines for the Indian Multi-Role Helicopter (IMRH) and Deck-Based Multi-Role Helicopter (DBMRH) programmes.

The year also saw HAL and Airbus sign a contract for establishing MRO facilities for the A-320 family of aircraft in New Delhi, in line with efforts to strengthen the Make-in-India mission and improve the export potential.