India’s state-owned aerospace manufacturer Hindustan Aeronautics Ltd (HAL) has reported its highest-ever sales turnover of $2.7 billion during the financial year 2017-18, which ended on 31 March 2018. A year before, the firm had reported a turnover of $2.62 billion.
“The company expects continued ‘Excellent’ rating for the FY 2017-18 from the Government of India on meeting all the relevant parameters related to its performance,” HAL said in a statement.
HAL claimed it has produced 40 new aircraft/helicopters and 105 new engines. It has also carried out an overhaul of 220 aircraft/helicopters and 550 engines. Last year, it produced 12 Su-30MKI aircraft and 24 ALHs, in addition to overhauling 194 aircraft and helicopters and 473 aero engines.
In a remarkably good year, HAL also bagged a new contract worth $7.7 billion for the manufacture of 83 Mark-1A light combat aircraft for the Indian Air Force. The company has also bagged an order of 41 Advanced Light Helicopters and 8 Chetak helicopters from the Indian Armed Forces.