Milestone! HAL records highest-ever revenue of Rs 26,500 crores
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New Delhi, April 1: Hindustan Aeronautics Limited (HAL), India's partially state-owned defence and aerospace firm, said that it registered over Rs 26,500 crore in revenue during the financial year 2022-23. This is a growth of 8% from the previous year, during which the firm recorded Rs 24,620 crore.
"HAL registers highest-ever revenue from operations of around Rs.26,500 Crores (provisional and unaudited) for FY 2022-23 as against Rs.24,620 for the previous FY. The Company has recorded a revenue growth of 8% during the year as compared to last year," HAL tweeted.
HAL registers highest-ever revenue from operations of around Rs.26,500 Crores (provisional and unaudited) for FY 2022-23 as against Rs.24,620 for the previous FY. The Company has recorded a revenue growth of 8% during the year as compared to last year. @DefProdnIndia @gopalsutar
— HAL (@HALHQBLR) March 31, 2023
"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 Rs 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.
Lauding these milestone, PM Narendra Modi, said, "Exceptional! I laud the entire team of HAL for their remarkable zeal and passion."
Exceptional! I laud the entire team of HAL for their remarkable zeal and passion. https://t.co/KgGaCDh82R
— Narendra Modi (@narendramodi) April 1, 2023
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 added.