HAL record Rs 21,000 crore turnover; growth of 7 per cent

Defense PSU, Hindustan Aeronautics Limited (HAL) announced that it had recorded a turnover of more than Rs 21,000 crore in the financial year ending March 31, 2020, representing a growth of around seven per cent for the second consecutive year post listing, as compared to 3.8 per cent in 2017-18.

The positive performance of the company has been achieved despite difficulties in cash flows, interruptions in operations due to workmen agitation and the interruption arising in the month of March 2020 due to COVID-19 lockdown, which has affected the final tests and certification of certain additional aircraft that were under the final stages of production.

HAL said in a press release that it has been able to sustain performance due to uniform production and project execution measures put in place by the company.

Speaking on the announcement, R Madhavan, CMD of Hindustan Aeronautics Limited said that besides achieving all the physical and financial targets, the company has also been maintaining uninterrupted supplies and services to the defence forces inspite of various constraints including cash flows. He added by saying that it has resulted in more focus on cost optimisation measures including indigenisation of various components, increasing outsourcing efforts and rationalisation of manpower.

Hindustan Aeronautics Limited (HAL) operates as an aerospace and defence company, which designs and manufactures aircraft, helicopter, power plants, an inertial navigation system, auto stabiliser, laser range system, flight data recorder, communication equipment, airborne secondary radar, panel instruments and general forging.

On Wednesday, the stock closed at Rs 536.10, up by 0.59 per cent or Rs 3.15 per share. The 52-week high is recorded at Rs 896.35 and the 52-week low is Rs 448 on BSE.