HAL records highest-ever revenue from operations

Bengaluru, Apr 1 (Agency) HAL (Hindustan Aeronautics Limited) recorded its highest ever revenue from operations, exceeding Rs 29,810 crores for the financial year ending on 31 March 2024, representing a double-digit growth of around 11 percent compared to the previous financial year, which had seen a growth of 9 percent. As of 31 March 2024, HAL’s order book stands at over Rs 94,000 crores, indicating a strong pipeline of future projects. Additionally, major orders are expected during the fiscal year 2024-25, according to a statement issued by HAL. HAL also secured fresh manufacturing contracts worth over Rs 19,000 crores and Repair and Overhaul (ROH) contracts exceeding Rs 16,000 crores during the financial year 2023-24. An export contract with the Guyana Defence Forces for the supply of two Hindustan-228 aircraft was also signed and executed efficiently. The fiscal year 2023-24 saw significant achievements for HAL, including the successful maiden flight of the first production series fighter of LCA Mk1A on March 28, 2024.

The company also witnessed high-profile visits and received recognition in various aspects such as customer satisfaction, branding, and stakeholder trust.HAL entered into strategic collaborations for technological advancements, which includes an MoU with General Electric, USA, for the transfer of technology and manufacturing of GE-414 aero-engine in India for LCA MK2 Aircraft, as well as the formation of a Joint Venture with Safran Helicopter Engines, France, for indigenous design and development of engines for IMRH and DBMRH. HAL also signed a contract with Airbus for establishing Maintenance, Repair, and Overhaul (MRO) facilities for the A-320 family of aircraft in New Delhi. This collaboration aims to strengthen the Mak e-in-India mission and enhance export potential. With a robust order book and accelerated delivery plans, HAL is expected to sustain and improve its growth trajectory. The company aims to support the Indian Defence services in their efforts towards enhancing the country’s defence preparedness.