Amid Claims Over Incapability, Hindustan Aeronautics Limited Records Highest Ever Turnover
The Logical Indian Crew India
September 30th, 2018 / 9:37 PM
Image (Representational) Credits: Tejas.Gov.In
Amid questions over the potential of Hindustan Aeronautics Limited (HAL), it has achieved remarkable growth in profits and revenue, with Rs. 18,28,386 lakh in Fiscal year (FY) 2017-18. It is the highest ever turnover by the company, last year the company made Rs 17,60,379 lakh. Defence Minister Nirmala Sitharaman had earlier raised questions on the production capacity of the public limited company.
According to reports by Deccan Chronicle, among the 40 aircraft and helicopters that HAL has produced includes ALH Dhruv and Cheetal Helicopters in the rotary wing, as well as Su-30 MKI, LCA Tejas and Dornier Do-228 in fixed wing. The company also underlined its production of 105 new engines and overhauling of 220 helicopters/ aircraft. It has also produced for space programs, 146 new aero-structures and 550 engines.
Company’s future plans
R Madhavan, HAL’s new Chairman and Managing Director (CMD) addressed his shareholders on HAL’s 55th Annual General Body Meeting, first after its listing, in the course of which these achievements were disclosed. The CMD in his address highlighted the company’s accomplishments and talked about the company’s future plans. He also addressed the shareholders’ concerns, The Economic Times reported.
“He acknowledged the trust and confidence of the Shareholders and reiterated his commitment to pursue growth opportunities for the Company. He said that in spite of the challenges, the Company has achieved significant growth in revenue and profits,” HAL said in a statement.
“HAL lacks production capability”
Defence Minister Nirmala Sitharaman had claimed that HAL’s lack of production capability was one of the reasons behind 126 Rafale Planes’ deal falling under the United Progressive Alliance (UPA) regime.
While talking to the ANI, one of the HAL’s Officials said, “We are producing so many complex platforms like Sukhoi and different versions of MiGs. So, with the help of the Original Equipment Manufacturer (OEM), we would have done it (Rafale) too,” as reported by the Deccan Chronicle.
Written by : Sumanti Sen
Edited by : Ridhima Gupta