New Delhi: Despite not producing Rafale aircraft, Hindustan Aeronautics Ltd (HAL), India's premier aircraft manufacturer, made headlines again for recording the highest ever turnover of Rs 18, 28,386 lakh in the 2017-18 financial year compared to the previous year's turnover of Rs 17,60,379 lakh.
On Friday, HAL held its 55th Annual General Body Meeting of Shareholders at its new management academy campus at Bengaluru, where the CMD R. Madhavan mentioned, "The company recorded the highest ever turnover of Rs. 18,28,386 lakhs in comparison with the previous year turnover of Rs. 17,60,379 Lakhs."
Apart from presenting the performance highlights, the future plans of the company were also discussed and the annual report for the FY 2017-18 was circulated to all the stakeholders, claiming, "The Profit Before Tax for the year was Rs. 3, 32,284 Lakhs as against Rs. 3, 58,258 Lakhs in the previous year. The PAT for the year was Rs. 2, 07,041 Lakhs." Recently, the Congress has been, critical of the fact that despite experience, HAL lost the Rs 58,000 crore Rafale fighter jet deal to Anil Ambani's Reliance Defence. In addition, there were questions raised over HAL's capability from the incumbent government's side.
However, the former French President Francois Hollande claimed that it was Indian government that told him to go with a ten days old Reliance Defence (in 2016). But, the Modi government repeatedly said that it was Dassault Aviation's decision to choose Reliance Defence.
But notably, the HAL produced 40 aircraft and helicopters covering Su-30 MKI, LCA Tejas & Dornier Do-228 in fixed wing and ALH Dhruv and Cheetal Helicopters in the rotary wing. In addition, HAL produced 105 new engines, overhauled 220 aircraft, helicopters and 550 engines and as many as 146 new aero-structures for space programmes were produced during the period, according to the CMD.
He also acknowledged the trust and confidence of the Shareholders and reiterated his commitment to pursue growth opportunities for the Company during his address. Also sees the growth significant, amid the challenges.