FY 2021-22: HAL Reaches New High and Records Revenue of Over Rs 24,000 Crore

Hindustan Aeronautics Limited on Friday said it recorded the highest revenue in its history of more than Rs 24,000 crore (provisional and unaudited) for the financial year ended March 31, 2022, registering a growth of 6%. compared to the previous year.

The corresponding figure for the previous year stood at Rs 22,755 crore.

“Despite the challenges of the second wave of Covid-19 during the first quarter of the year and the resulting loss of production, the company was able to achieve the targeted revenue growth with improved performance during the period. balance of the year,” said HAL CMD, R Madavan.

The second wave of Covid-19 had forced the company to declare a gradual lockdown of various divisions in April and May 2021, the Bengaluru-based company noted in a statement.

Employees had worked overtime in June and July 2021 to make up for lost working hours due to the lockdown, he said.

In addition, based on the improved financial performance and cash flow position, rating agencies CARE Ratings and ICRA Limited upgraded the company’s credit rating from AA+ Stable to AAA/Stable over the course of exercise, it was said.

HAL said it achieved a record turnover with the production of 44 new helicopters/aircraft, 84 new engines, the overhaul of 203 aircraft/helicopters and 478 engines.

Recently, HAL landed a contract for the production of 15 Light Combat Helicopters (LCH) – ten for the IAF and five for the Indian Army – at a cost of Rs 3,887 crore along with infrastructure sanctions of worth Rs 377 crore.

In view of the improved financial performance during the financial year, HAL paid an interim dividend of Rs 40 per share representing 400% of the face value of Rs 10 per share in 2021-22, the statement added.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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