Bengaluru : Government-owned Hindustan Aeronautics Ltd (HAL) recorded a turnover of over Rs 21,100 crore for the financial year ended on Tuesday, up 7 per cent from Rs 19,705 crore in the previous fiscal.
“The company posted a revenue growth of around 7 per cent during 2019-20 for the second year consecutively post listing as compared to 3.8 per cent during 2017-18,” it said in a statement.
HAL said the performance has been achieved in spite of difficulties in cash flows, interruptions in operations due to workmen agitation and interruption due to COVID 19 lockdown which affected final tests and certification of certain additional aircraft that were under final stages of production.
This sustenance in financial performance during current financial year is in wake of production of 31 new aircraft and helicopters besides 117 new engines and overhaul of 199 aircraft, helicopters and 490 engines.
HAL said it managed to sustain the growth rate and turnover in current circumstances due to uniform production and project execution measures.
Besides achieving all physical and financial targets, it has also been maintaining uninterrupted supplies and services to the defence forces in-spite of various constraints including cash flows.
“This encouraged us to focus more on cost optimisation measures including indigenisation of various components, increasing outsourcing efforts and rationalisation of manpower,” said Chairman and Managing Director R Madhavan.
HAL produced 13 new advanced light helicopters in FY20 against the contract of 40 of which three were produced ahead of schedule for the Indian Army.
The first helicopter for Coast Guard is ready and awaiting customer trials at Kochi which should have been completed but for the outbreak of COVID-19.
The complete test equipments are already positioned to ensure commencement of trials immediately after the situation improves. All the new systems for Coast Guard are ready and bulk of the trials are completed.
