Thursday, June 13, 2024

HAL Achieves Record-High Revenue Of INR 26,500 Crores In FY 2022-23 Despite Supply Chain Challenges

By Staff Correspondent

Hindustan Aeronautics Limited (HAL) has posted a record-high revenue of INR 26,500 Crores (provisional and unaudited) for the Financial Year 2022-23, according to a recent statement released by the company. This impressive feat represents an 8% year-on-year growth, compared to INR 24,620 recorded in the previous financial year.

Despite facing a challenging supply chain environment, HAL successfully achieved its targeted growth in the top line, thanks to the increased emphasis on indigenization and the available inventory, said the company’s CMD, C. B. Ananthakrishnan.

HAL’s order book stood at approximately INR 82,000 Crores as of March 2023, after the liquidation of supplies in 2022-23. The company also received fresh contracts worth around INR 26,000 Crores during the year, which included manufacturing contracts for 70 HTT-40, 6 Do-228 aircraft, and PSLV launch vehicles. Furthermore, it secured fresh orders worth INR 16,600 Crores on the ROH front during the year.

The company’s cash flow has substantially improved, with payments of around INR 25,000 Crores received from various Defence Customers during FY 2022-23. Additionally, HAL has received an income tax refund of INR 1,798 Crores, including interest of INR 542 Crores, which will clear all old outstanding tax litigation with the Income Tax Department.

In recognition of the company’s performance, HAL has paid an interim dividend of INR 40 per share during the current financial year, representing 400% on the face value of INR 10 per share. The company has also paid a final dividend of INR 10 per share for the financial year 2021-22.

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