Bengaluru: The Hindustan Aeronautics Limited (HAL) has posted a revenue growth in excess of 6% during 2018-19 as compared to 3.8% during 2017-18. The company has recorded a turnover of over Rs 19,400 crore (provisional and unaudited) for the financial year that ended on March 31. The corresponding figure for the previous year was Rs 18,284 crore.
"The performance of the company in 2018-19 has encouraged us to focus more on design and development of indigenous products and technologies, develop aerospace and defence manufacturing eco-system and to be more dedicated towards, meeting the current and future requirements of customers," said Mr R. Madhavan, CMD, HAL.
He said that the strategy will help HAL to be on the growth track in meeting the expectation of shareholders. In FY 2018-19, HAL has produced 41 new aircraft/ helicopters and 98 new engines and has overhauled 213 aircraft/helicopters and 540 engines. In a media release, the company claimed that its R&D projects are on track and are tailor-made for the requirement of armed forces. HAL expects continued 'Excellent' MoU rating for FY 2018-19 from the central government for meeting all the relevant parameters related to its performance.
It has produced 12 new ALH's against the contract of 40, out of which six were produced ahead of schedule for the Indian Army.
