Indian airframer Hindustan Aeronautics (HAL) generated revenue of INR304 billion ($3.6 billion) in the 12 months to 31 March, flat against the previous year.
The company says it was able to hold revenue steady despite production challenges with two of its primary products, the Tejas Light Combat Aircraft and Dhruv Advanced Light Helicopter.
Tejas Mk1A production was delayed by the slow delivery of GE Aerospace F404 engines. Dhruv deliveries were affected by the fatal accident of a coast guard Dhruv in January, which caused the entire fleet to be grounded.
“However, deliveries of other products and services were accelerated, which helped us to maintain the top line,” says HAL chairman DK Sunil.
The company is upbeat on its order book and future deliveries, with the introduction of additional assembly lines for the Tejas and HTT-40 basic trainer.
As of 31 March, HAL’s order book stood at INR1.8 trillion, compared with INR941 billion a year earlier.
The increase in orders stems from big government contracts, including an INR941 billion deal for 156 ‘Prachand’ Light Combat Helicopters, HAL’s biggest ever defence ministry contract.
In addition, HAL won work to produce 12 more Sukhoi Su-30MKI fighters, supply 240 AL-31FP engines for the existing Su-30MKI fleet, upgrade 40 Do-228s, and conduct an avionics upgrade for a single Ilyushin Il-78 transport.
“With the supply chain issues stabilising, new orders in hand and the enhancement of capacities, the company is gearing up for more robust physical and financial performance in the [the coming financial year],” says HAL.
