HAL scales new peak, sees revenue of over Rs 24K crore

HAL achieved record revenue with production of 44 new helicopters/aircraft, 84 new engines, overhauling 203 aircraft / helicopters and 478 engines.

Published: 02nd April 2022 02:54 AM  |   Last Updated: 02nd April 2022 02:54 AM   |  A+A-

Image for representational purpose only. (File Photo)

Image for representational purpose only. (File Photo)

By Express News Service

BENGALURU: Aerospace giant Hindustan Aeronautics Ltd (HAL) has recorded the highest ever revenue of over Rs 24,000 crore (provisional and unaudited) for the financial year ending March 31, 2022, registering a 6 % revenue growth over the previous financial year. The corresponding figure for the previous year stood at Rs 22,755 crore.

“Despite the challenges of the second wave of Covid-19 during the first quarter of the year and the consequent production loss, the Company could meet the targeted revenue growth with improved performance during the balance period of the year”, said R Madhavan, Chairman & Managing Director, HAL. HAL achieved record revenue with the production of 44 new helicopters/aircraft, 84 new engines, overhauled 203 aircraft/helicopters and 478 engines.

Recently, HAL bagged a contract for the production of 15 Light Combat Helicopters (LCH), 10 for IAF, and five for the Indian Army at a cost of Rs 3,887 crore along with infrastructure sanctions worth Rs 377 crore.
The second wave of Covid-19 had forced HAL to declare a phased lockdown at various divisions during April and May 2021. The employees had put in additional hours in June and July 2021 to compensate for the loss of man-hours due to the lockdown.

Further, based on the improved financial performance and cash flow position, the credit rating agencies, Credit Analysis & Research Ltd (CARE)Ratings and ICRA Limited have upgraded the Company’s credit ratings from AA+ Stable to AAA/Stable during the financial year.    

Considering the improved financial performance during the financial year, HAL paid an interim dividend of Rs 40 per share representing 400 per cent on the face value of Rs 10 per share during FY 2021-22.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp