NEW DELHI — India’s sole military aircraft producer, state-owned Hindustan Aeronautics Limited, has reported its highest-ever sales turnover of $2.62 billion for the fiscal year that started April 1, 2016. In the previous fiscal year, total sales turnover was $2.57 billion.
“The Company expects Excellent Memorandum of Understanding MoU rating for the FY 2016-17 from the Government as it has met all the relevant parameters related to its performance,” according to a HAL news release.
India’s Ministry of Defence on Thursday awarded a $1.3 billion contract to the company to supply Advanced Light Helicopters, or ALH, which will help boost maritime security capabilities of the Indian Navy and Indian Coast Guard.
During the fiscal year that just ended, HAL produced 12 Su-30MKI aircraft and 24 ALHs, besides overhauling 194 aircrafts and helicopters and 473 aero engines.
In addition, HAL received orders worth $3.2 billion, which included the production of 12 Do-228 aircraft for the Indian Navy, 32 ALH for the Navy and the Coast Guard, and AL-31 FP engines for Su-30MKIs.
According to the company, during the same time, HAL witnessed the maiden flight of homemade trainer HTT-40 and its light utility helicopter in addition to carriage trials of its light combat aircraft with a fixed air-to-air refueling probe.
HAL also will receive a new $7.7 billion contract later this year to manufacture of 83 light combat aircraft Mark-1A.
The Acceptance of Necessity for 83 LCA Mark-1A was approved by the MoD’s Defence Acquisition Council in November 2016. Under this plan, HAL will make an internal investment of more than $100 million for total design, development and integration of LCA Mark-1A, and it will be completed in two years.
In addition, the company will make an internal investment of more than $100 million to set up a parallel assembly line of jigs and fixtures in Bangalore that is expected to be operational by mid-2018.
