The shares of the aerospace and defence company gained up to 4 percent after the company received a contract worth Rs 1,173.42 crore for the supply of gas turbines and gt auxiliaries.
With a market capitalization of Rs 2.28 lakh crore, the shares of Hindustan Aeronautics Ltd were trading at Rs 3,418.65 apiece, increasing around 2.75 percent as compared to the previous closing price of Rs 3,327.25 per share.
According to the company filing, Hindustan Aeronautics Ltd has signed a contract with M/s. Cochin Shipyard Limited (CSL), Kochi for the supply of 6 sets of LM2500 Gas Turbines (GT) and GT Auxiliaries (GTAE), Spares, and Tools for the Indian Navy Next Generation Missile Vessel (NGMV) Project worth Rs 1,173.42 crore.
Looking into Hindustan Aeronautics Ltd, the company’s revenue increased by 7 percent, from Rs 5,666 crore in Q3FY23 to Rs 6,061 crore in Q3FY24. During the same period, net profit increased by 9 percent, from Rs 1,154 crore to Rs 1,254 crore.
As of May 2023, Hindustan Aeronautics Limited’s order book was valued at Rs. 81,784 crores, which included Manufacturing Contracts, Repair and Overhaul, Design and Development Projects, spare supply, and exports. Furthermore, HAL estimates an order value of almost Rs. 48,000 crores to be completed in the coming fiscal year.
Furthermore, it has a significant customer base that includes the Indian Air Force, the Indian Navy, the Indian Coast Guard, ISRO, and DRDO. Some of its foreign clients include Airbus Industries, Boeing, GE Aviation, Honeywell Foreign, Rolls Royce Plc, and others.
In recent month, the business has signed a contract with the Ministry of Defence for a mid-life upgrade (MLU) of 25 Dornier aircraft and related equipment for the Indian Navy valued at Rs. 2,890 crores. This Dornier aircraft features avionics equipment and primary mission sensors, which will improve its operational capacity.
Hindustan Aeronautics manufactures aircraft and helicopters, as well as repairs and maintains them. They are the primary maker of defense gear for the Indian government in the aerospace sector.
Written by:- Abhishek Singh
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