India’s govt-run aerospace firm HAL records highest-ever revenue of $3.2 billion
Hindustan Aeronautics Limited (HAL), India’s partially state-owned defence and aerospace firm, said that it registered around ₹26,000 crore or $3.2 billion in revenue during the financial year 2022-23. This is a growth of 8 per cent from the previous year, during which the firm recorded ₹24,620 crore.
“Despite the challenges of supply chain disruptions due to geo-political situations, the company could achieve the targeted growth in the top line. This was possible with the increased thrust on indigenisation and with the available inventory,” said C.B. Ananthakrishnan, Chief Managing Director, Hindustan Aeronautics Limited.
He added that the company’s order book stood at around ₹82,000 crore or $8 billion at the end of March 2023, after liquidation of the supplies during 2022-23.
During 2022-23, fresh contracts of around ₹26,000 crores were received which includes manufacturing contracts for 70 HTT-40 trainer aircraft for the Indian Air Force, 6 Do-228 Maritime Patrol Aircraft and PSLV spacefaring rockets for ISRO. In addition, on the ROH front, fresh order to the tune of ₹16,600 crore or $2 billion was received during the year.
The cash flow of the Company has improved substantially with payments of around ₹25,000 crore or $3 billion received from the various defence customers during financial year 2022-23, HAL said.
