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‘Exceptional’: PM Modi Lauds As HAL's Revenue Touches Rs 26,500 Cr

Hindustan Aeronautics Limited announced in a tweet that income increased by 8 per cent over the previous fiscal year to 24,620

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After Hindustan Aeronautics (HAL) declared its highest-ever income from operations of Rs 26,500 crore (provisional and unaudited) for the fiscal year 2022-23 on Friday, Prime Minister Narendra Modi congratulated the team on Twitter on Saturday.

PM Modi lauded the accomplishment and praised the team effort that led to the incredible achievement by retweeting a post from HAL's official handle.

"Exceptional!" the Prime Minister wrote. I applaud the complete HAL team for their extraordinary zeal and passion."

HAL stated in a tweet that income increased by 8% compared to the previous fiscal year's figure of USD 24,620. "HAL registers highest-ever revenue from operations of around Rs.26,500 Crores (provisional and unaudited) for FY 2022-23 as against Rs.24,620 for the previous FY," the company said in a tweet. In comparison to last year, the company's sales increased by 8 per cent this year."

HAL chairman C B Ananthakrishnan said in a statement that the company could meet its goals despite "supply chain disruptions due to the geopolitical climate." He went on to say that the renewed emphasis on indigenisation, combined with the accessible inventory, aided in meeting the objectives.

Ananthakrishnan disclosed that HAL's order book stood at around 82,000 crore at the end of March 2023, following the liquidation of supplies in 2022-23. With payments of around 25,000 crores from different defence customers in 2022-23, the company's cash flow has also improved.

Manufacturing orders worth 26,000 crore include 70 HTT-40, 6 Do-228 aircraft, and PSLV launch vehicles.

"During the year, an income tax refund of Rs 1,798 crore, including interest of Rs 542 crore, was received due to the IT AT's favourable decision," HAL stated in its filing.

According to a media report, HAL paid an interim dividend of Rs 40 per share during the current fiscal year, indicating a 400 per cent increase over the face value of Rs 10 per share. On Friday, the military PSU's share closed 1.32 per cent higher at 2,740 on the BSE.

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hindustan aeronautics limited narendra modi