In the financial year ending March 31, 2024, the performance of Hindustan Aeronautics Limited (HAL) soared to new heights as it reported an outstanding double-digit growth in revenue.
Achieving a record-breaking revenue of over Rs 29,810 crore, the aerospace giant HAL marked an impressive 11 percent increase compared to the previous fiscal year’s 9 percent. This significant growth demonstrates HAL’s resilience and adaptability in navigating through supply chain hurdles, particularly those stemming from geopolitical tensions.
HAL’s performance surpassed expectations, despite facing considerable supply chain challenges. Reflecting its commitment to excellence and innovation, HAL secured manufacturing contracts exceeding Rs 19,000 crore and Repair and Overhaul (ROH) contracts surpassing Rs. 16,000 crore during FY 2023-24.
One notable achievement during the fiscal year was HAL’s swift fulfilment of an export contract with the Guyana Defence Forces, supplying two Hindustan-228 aircraft within a month of contract signing. This rapid delivery underscored HAL’s proactive approach and commitment to meeting customer needs efficiently.
Furthermore, HAL celebrated significant milestones, including the successful maiden flight of the first production series fighter of LCA Mk1A in March 2024.
The company’s robust order book exceeds Rs 94,000 crore, with substantial new contracts anticipated for the upcoming fiscal year.
