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HAL's turnover up 19% over last year - Rs 10,260 crore Print E-mail
Written by Vijay   
Thursday, 02 April 2009
Bangalore:  Hindustan Aeronautics Limited (HAL) has posted yet another record high financial performance for 2008-09.  The provisional financial results declared show the sales turnover at Rs 10,260 crore — a 19% increase over the previous year.  The profit before tax soared to Rs 2,260 crore, i.e. 22% of the turnover, an impressive figure vis-à-vis the performance of similar aerospace companies around the world. The value of production has also gone up from Rs 8,791 crore in 2007-08 to Rs 11,161 crore in 2008-09 — a growth of 27%.

With this performance, this premier Defence Navratna Company meets all the MoU parameters and would achieve ‘Excellent’ rating under the Government of India criteria for performance evaluation of PSUs.

The Company has achieved a significant breakthrough in exports by securing an order for supply of seven Advanced Light Helicopters (ALHs) to Ecuador against stiff international competition.  Five helicopters have already been delivered in March 2009.

The export earnings at Rs 421 crore were the highest-ever, in spite of loss of earnings due to the closure of HAL Airport at Bangalore in May 2008.  The Company has paid the highest-ever interim dividend of Rs 300 crore for the year 2008-09, which is around 249% of the paid-up capital.  Despite the recession the world-over, the order book position of the Company stands at an enviable figure of over Rs 60,000 crore.
Prestigious projects: Incidentally, the Company contributed to the successful launch of ISRO’s prestigious Chandrayaan mission by producing the structure of the space vehicle at its Aerospace Division. Design and development projects of the Company, viz. IJT, LCA, LCH, ALH-WSI and MiG-27 upgrade made significant progress during the year.

With emphasis on developing indigenous capabilities, the Company is taking up design and development of the Light Utility Helicopter (LUH) in the 3-ton category at a cost of Rs 446.08 crore. HAL has also concluded initial agreements with Russian companies on co-design and development of the Fifth Generation Fighter Aircraft (FGFA) and Multi-Role Transport Aircraft (MRTA).

Nayak takes over: Mr Ashok Nayak assumed office as HAL Chairman on Wednesday. Senior Company Directors received him at HAL Corporate Office in Bangalore.

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