C B Ananthakrishnan, CMD, HAL and Brigadier General Xavier Issac, Chief of Air Force, Argentinian Air Force exchanging the documents after signing a contract for supply of spares and engine repair of legacy two tonne class helicopters during the Aero India 2023. M.K.Mishra, CEO, HAL Bangalore Complex is also seen.
HAL registers highest-ever revenue from operations of around Rs. 26,500 Crores (provisional and unaudited) for the Financial Year 2022-23 as against Rs. 24,620 for the previous financial year. The Company has recorded a revenue growth of 8% during the year as compared to the previous year, 2021-22.
“Despite the challenges of supply chain disruptions due to geo-political situations, the Company could achieve the targeted growth in the top line. This was possible with the increased thrust on indigenization and with the available inventory,” said C. B. Ananthakrishnan, CMD, HAL.
He further added that the order book of the Company stood at around Rs. 82,000 Crores at the end of March 2023 after liquidation of the supplies during 2022-23. During the year fresh contracts of around Rs.26,000 Crores were received which includes manufacturing contracts for 70 HTT-40, 6 Do-228 Aircraft and PSLV launch vehicles. In addition, on the ROH front fresh order to the tune of Rs.16,600 Crores was received during the year.
The cash flow of the Company has improved substantially with payments of around Rs. 25,000 Crores received from the various Defence Customers during FY 2022-23.
During the year, the income tax refund of Rs.1,798 Crores including interest of Rs. 542 Crores has been received consequent to the favorable decision of the ITAT. This will clear all the old outstanding tax litigation with the Income tax Department.
Considering the performance, the Company has paid an interim dividend of Rs. 40 per share during the current financial year representing 400% on the face value of Rs. 10 per share. The Company has also paid a final dividend of Rs. 10 per share for the financial year 2021-22.
The Company has maintained the growth momentum and has achieved an all-round improved performance.