Mumbai: HAL (Hindustan Aeronautics Limited) reported a healthy set of numbers in Q3 FY21 with the profit at Rs 853 crore vs Rs 460 crore, up 85 per cent YoY and revenue at Rs 5,425 crore vs Rs 4,455 crore, up 22 per cent YoY. Recently the company has entered a number of partnerships and collaborations.
HAL and Rolls-Royce on Friday agreed to expand their partnership in India for collaboration in two significant areas — expanding the supply chain for both civil and defence aerospace and establishing an authorised maintenance centre for Adour MK871 engines to support Rolls-Royce’s global customers. Hindustan Aeronautics Limited and Mishra Dhatu Nigam Limited (MIDHANI) signed a Memorandum of Understanding (MoU) for development and production of composite raw materials during the Aero India 2021 and signed a contract valued over Rs 100 crore with GE Aviation for development and supply of ring forgings for its Aviation military and commercial engine programs.
R Madhavan, CMD, Hindustan Aeronautics said that the orderbook Grown From `22,000 Cr, and is Now At `87,000 Cr with the Tejas order win. “HAL targets An Orderbook of `Rs1 Lakh Crore For Next Year and we are confident of crossing the `Rs1 Lakh Crore,” he said. The company is looking at major export opportunities, seen interest by many countries for products. “We have entered an agreement with Midhani to develop, manufacture composite raw materials and seen a number of other partnerships. HAL also expanded its partnership with Rolls-Royce for MRO and supply chain MoUs. “ While the company saw a muted growth rate 3-4 years ago, the last 2 years has been at 7.5% and by 2025 growth rate will rise to 12% according to R Madhavan.