Hindustan Aeronautics Ltd. (HAL) has registered the highest-ever revenue from operations of around ₹26,500 crore (provisional and unaudited) for the financial year 2022-23 as against ₹24,620 crore for the previous financial year.
The company has recorded a revenue growth of 8% during the year as compared to the previous year, stated the defence PSU.
“Despite the challenges of supply chain disruptions due to geopolitical situations, the company could achieve the targeted growth in the top line. This was possible with the increased thrust on indigenisation and with the available inventory,” said HAL chairman and managing director C.B. Ananthakrishnan.
He further added that the order book of the company stood at around ₹82,000 crore at the end of March 2023, after liquidation of the supplies during 2022-23. “During the year, fresh contracts of around ₹26,000 crore were received, including manufacturing contracts for 70 HTT-40, 6 Do-228 aircraft, and PSLV launch vehicles. In addition, on the repair and overhaul front fresh order to the tune of ₹16,600 crore were received during the year,” HAL said.
The cash flow of the company has improved substantially with payments of around ₹25,000 crore received from the various defence customers during FY 2022-23, it added.
During the year, the income tax refund of ₹1,798 crore, including interest of ₹542 crore, 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.
The company has also paid an interim dividend of ₹40 per share during the current financial year representing 400% on the face value of ₹10 per share. The company has also paid a final dividend of ₹10 per share for the financial year 2021-22.
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