December 5, 2022

HAL scales new height in FY 2021-22, registers revenue of over Rs. 24,000 crores

Bengaluru, Hindustan Aeronautics Ltd records highest ever revenue of over Rs. 24,000 crores (provisional and unaudited) for the financial year ended on March 31, 2022 registering a six per cent revenue growth over the previous financial year. The corresponding figure for the previous year stood at Rs. 22,755 crores.

“Despite the challenges of the second wave of Covid-19 during the first quarter of the year and the consequent production loss, the company could meet the targeted revenue growth with improved performance during the balance period of the year,” said HAL CMD R. Madhavan.

The second wave of Covid-19 had compelled the company to declare a phased lockdown at various divisions during April and May 2021. The employees had put in additional hours in June and July 2021 to compensate for the loss of man hours due to the lockdown.

Further, based on the improved financial performance and cash flow position, the Credit Rating Agencies CARE Ratings and ICRA Limited have upgraded the company’s credit rating from AA+ Stable to AAA/Stable during the financial year. 

HAL achieved record revenue with production of 44 new helicopters/aircraft, 84 new engines, overhauling 203 aircraft / helicopters and 478 engines. 

Considering the improved financial performance during the financial year, HAL paid an interim dividend of Rs. 40 per share representing 400 per cent on the face value of Rs. 10 per share during FY 2021-22.

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