FY 2021-22: HAL scales new peak
HAL recorded its highest ever revenue of over Rs. 24,000 crores (provisional and unaudited) for the financial year ended on 31 March 2022 registering a 6% revenue growth over the previous financial year. The corresponding figure for the previous year stood at Rs. 22,755 crores. “Despite the challenges of the second wave of Covid-19 during the first quarter of the year and the consequent production loss, the Company could meet the targeted revenue growth with improved performance during the balance period of the year”, stated Mr. R. Madhavan, CMD, HAL. The second wave of Covid-19 had compelled the Company to declare a phased lockdown at various Divisions during April and May 2021. The employees had put in additional hours in June and July 2021 to compensate for the loss of man hours due to the lock down. Further, based on the improved financial performance and cash flow position, the Credit Rating Agencies CARE Ratings and ICRA Limited have upgraded the Company›s credit rating from AA+ Stable to AAA/Stable during the financial year. HAL achieved record revenue with production of 44 new helicopters/aircraft, 84 new engines, overhauling 203 aircraft / helicopters and 478 engines. Recently, HAL bagged a contract for production of 15 Light Combat Helicopters (LCH), 10 for IAF and five for the Indian Army at a cost of Rs 3,887 crores along with Infrastructure sanctions worth Rs. 377 Crores. Considering the improved financial performance during the financial year, HAL paid an interim dividend of Rs. 40 per share representing 400% on the face value of Rs. 10 per share during FY 2021-22.
HAL pays highest dividend to GOI
HAL has paid the second interim dividend of Rs. 653.36 crores for the FY 2021-22 to the Government of India. The dividend cheque was handed over to the Defence Minister, Mr. Rajnath Singh by Mr. R. Madhavan, CMD, HAL and Mr. C. B. Ananthakrishnan, Director (Finance), HAL in the presence of Dr. Ajay Kumar, Defence Secretary in Delhi. “It is the highest dividend declared by the Company after listing of its shares on the Stock Exchange(s) and is more than what has been prescribed under DPE guidelines”, stated Mr R. Madhavan. Mr. Sanjay Jaju, AS (DP), Mr. Chandraker Bharti, JS (Aero), MoD and Mr. Alok Verma, Director (HR), HAL were also present on the occasion.
HAL and Israel Aerospace Industries sign MoU for MMTT
In a move aimed at bolstering the ‘Make in India’ campaign, HAL entered into an MoU with Israel Aerospace Industries (IAI) on 6 April 2022 to convert Civil (Passenger) aircraft to Multi Mission Tanker Transport (MMTT) aircraft in India. Under the pact signed recently, HAL will convert pre-owned Civil (Passenger) aircraft into air refueling aircraft with cargo and transport capabilities. The move will provide India›s defence ecosystem with new capabilities and cost effective solutions in the market. The MoU will facilitate HAL and IAI›s decades› long expertise in developing, manufacturing and producing leading defence platforms. The scope of MoU also covers “passenger to freighter aircraft” conversion along with MMTT conversions. A formal Memorandum of Understanding (MoU) was signed in Delhi by Mr D. Maiti, CEO (MiG Complex), HAL and Mr Yaacov Berkovitz, VP & GM Aviation Group, IAI in the presence of Mr Chandraker Bharati, JS (Aero), MoD. “We are glad to join hands with our long standing partner IAI in this venture of MMTT conversion business which is one of the strategic diversification avenues identified by HAL”, stated Mr R. Madhavan, CMD, HAL. Boaz Levy, President IAI and CEO in his message said “We are proud to come together with our counterparts to bring our best value MMTT solution in India, while utilising local resources to manufacture and market the platform. By collaborating with HAL and bringing conversion directly to India, we are supporting the ‘Make in India’ campaign”.
HAL hands over Gaganyaan hardware to ISRO
HAL has and will continue to play a significant role in India›s current and future space programme including the Gaganyaan manned mission to space, given the skills and knowledge base within the company said Mr. S. Somanath, Chairman ISRO. He identified indigenisation and cost reduction as major challenges in the space missions and said apart from HAL private players will have a role in achieving these goals. He was speaking at the handing over function of the first set of Gaganyaan hardware by HAL to ISRO and at the inauguration of HAL›s PS2/GS2 stage integration facility on 4 April 2022. HAL also handed over 150th Make Satellite Bus Structure on this occasion.
HAL commences main airframe fatigue test of LCA Mk1
HAL has commenced the Main Air frame Fatigue Test (MAFT) of LCA Mk1 airframe at its Ground Test Centre of the Aircraft Resyearch and Design Centre (ARDC) in Bengaluru. The MAFT test facility was inaugurated by Mr. Arup Chatterjee, Dir (Engg. and R&D), HAL. Mr. R Madhavan, CMD, HAL and Dr. Dheodhare expressed their satisfaction on timely commencement of the MAFT testing. AVM Raju cited the importance of the commencement of the MAFT testing towards clearance of the full life of LCA fleet and urged the team to keep up the momentum to ensure that the continuous flying requirements of IAF are met. As per the military airworthiness requirements, MAFT has to demonstrate the capability of the airframe to withstand four times the service life. These tests will be carried out on the LCA (Air Force) Mk1 airframe over a period of eight to nine years. The successful completion of MAFT will qualify the LCA (Air Force) Mk1 airframe for its fullservice life. The test plan and schedule for the MAFT has been jointly arrived at by the designers from HAL and scientists from Aeronautical Development Agency (ADA) in coordination with the Regional Centre for Military Airworthiness (RCMA), CEMILAC. The testing and inspection will be carried out by ARDC under the supervision of DGAQA with the participation of designers from ARDC and ADA.
HAL and Do-228
In early April 2022, HAL delivered the first passenger version Do-228 aircraft to the Government of Mauritius. Additionally, HAL delivered the first civil Do-228 aircraft under UDAN scheme for deployment in the State of Arunachal Pradesh by Alliance Air.
HAL and BEL sign contract for indigenous IRST
HAL and BEL signed a contract for co-development and coproduction of Long Range Dual Band Infra-Red Search and Track System (IRST) for Su-30 MKI on 26 April 2022 under the MAKEII procedure of Defence Acquisition Procedure (DAP) 2020, as part of the ‘Make in India’ initiative. The proposed IRST system will be a high end strategic technology product in the field of defence avionics and technically competitive to existing IRST system in the global market with features of Television Day Camera, Infrared and & Laser sensors in single window for air to air and air to ground target tracking and localisation. The system will enhance the Indian Air Force›s air superiority. Mr Suneel Kumar Srivastava, GM, HAL (Korwa) and Mr. Loyola Pedro Vianney G., GM, BEL (Chennai) signed the contract. Mr. Arup Chatterjee, Director, Engineering and R&D (HAL) and Mr M V Rajasekhar, Director, R&D (BEL) were present on the occasion. The joining hands of two defence PSUs for development of technologically critical IRST gives impetus to Atmanirbhar Bharat in the defence sector. This initiative also opens the future path in the field of indigenous defence manufacturing for development of high end strategic technology product of IRST for various platforms in global competitive environment.
HAL contract with Nigerian Army for Phase II training
HAL signed a contract with Nigerian Army for imparting Phase-II flying training on Chetak Helicopter for six officers of Nigerian Army Aviation. This marks the continuation of contract signed in April 2021 for imparting Phase-I flying training to six Nigerian Army aviation officers, which was successfully executed in December 2021. The Phase-II flying training on Chetak Helicopter is scheduled to commence soon and is planned to be completed by December 2022. As part of the training, 70 hours flying training would be imparted for each Nigerian Army Aviation Officer. The contract was signed by Mr. BK Tripathy, General Manager, Helicopter Division and Commodore Anthony Victor Kujoh, Defence Adviser, High Commission of Nigeria in India at a programme held at Helicopter Division. Mr Tripathy said the platforms such as ALH and LUH, with wide range of capabilities can be of great strength for the Nigerian Army. “Nigeria would not only like to further enhance the business relationship with HAL for training, but also towards asset acquisition”, stated Cmdre Kujoh.
