Bengaluru (Karnataka): HAL recorded the highest-ever revenue from operations of over Rs. 29,810 crores (provisional and unaudited) for the financial year that ended on March 31, 2024, registering a double-digit growth of around 11 per cent as against 9 per cent in the previous financial year.
The corresponding figure for the previous year was at Rs. 26,928 crores. 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, an official statement from HAL stated.
As of March 31, 2024, the company's order book stands in excess of Rs 94,000 crores with additional major orders expected during FY 2024-25, said C.B. Ananthakrishnan, Chairman and Managing Director (Additional Charge), HAL.
According to the statement, HAL received fresh manufacturing contracts of over Rs 19,000 crores and ROH contracts of over Rs 16,000 crores during FY 2023-24.
An export contract with Guyana Defence Forces for supply of 2 Nos. Hindustan- 228 aircraft was signed in the current FY 2023-24 and both the aircraft were supplied in record time within a month of the signing of the contract due to the proactive approach of the company.
A very significant milestone was achieved with the first production series fighter of LCA Mk1A completing its maiden flight on March 28. During the year, HAL and General Electric, USA signed an MoU for ToT and Manufacturing of GE-414 aero-engine in India for LCA MK2 Aircraft. The Company would receive 80 per cent technology transfer for this program which would transform the Indian Aero Engine Manufacturing Ecosystem to be self-reliant, it added.
A Joint Venture SAFHAL Helicopter Engines Pvt. Ltd. was formed with Safran Helicopter Engines, France for indigenous design and development of Engines for IMRH and DBMRH. During the FY, HAL and Airbus signed a contract for establishing MRO facilities for the A-320 family of aircraft in New Delhi. This collaboration will strengthen the 'Make-in-India' mission and also enhance export potential, the statement added.
