Defence Public Sector Undertaking engaged in designing, developing, manufacturing, maintaining, and upgrading aircraft, helicopters, and critical aerospace components & accessories jumped 2 percent upon securing defence orders worth Rs. 5,300 Crores.
With a market capitalization of Rs. 2,03,508 Crores, the shares of Hindustan Aeronautics Limited closed at Rs. 3,043, up 1.28 percent from its previous day’s close price of Rs. 3,004.50.
The Cabinet Committee on Security (CCS) has given a final nod for four defence deals worth Rs. 35,000 Crores to strengthen the combat capabilities of the Indian Armed Forces.
Out of the approved defence deals, Hindustan Aeronautics Limited has secured defence deals worth Rs. 5,300 Crores for the supply of new advanced engines for the existing MiG-29 fighters in the Indian Airforce Fleet. It will be Manufactured by HAL along with Russian Collaboration.
Hindustan Aeronautics Limited (HAL) is the Indian government’s prime manufacturer of defense machinery in the Aeronautic segment. The Company designs, develops, manufactures, maintains, and upgrades aircraft, helicopters, and critical aerospace components & accessories.
As of May 2023, Hindustan Aeronautics Limited has an order book worth Rs. 82,154 Crores, that consists of Manufacturing Contracts, Repair & Overhaul, Design & Development Projects, supply of spares, and exports.
It has a strong customer base that consists of the Indian Air Force, the Indian Navy, the Indian Coast Guard, ISRO, DRDO, and Some of the international clients are Airbus Industries, Boeing, GE Aviation, Honeywell International, Rolls Royce Plc, and many more.
Its revenue from operations grew by 6.97 percent from Rs. 5,666 Crores in FY22 to Rs. 6,061 Crores in FY23, accompanied by increasing profits of Rs. 1,154 Crores to Rs.1,254 Crores.
Written by: Bharath K.S
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