HAL contributes Rs 4,284 cr to govt

Hindustan Aeronautics Limited (HAL) today said it has made a contribution of Rs 4,284crores to the government, as buyback of 25 per cent of theshare capital and free reserves from the company.
The cheque was presented to the Defence MinisterManohar Parrikar at the on-going Def Expo in Goa, HAL said in arelease.
"This is apart from a dividend of Rs 510 crore paidduring 2015-16. We are proud to contribute to the nation sucha significant amount of Rs 5879 crore (including tax) in the Platinum Jubilee Year," HAL CMD T Suvarna Raju said.
HAL said the total contribution of the company from 1973-74 till date works out to Rs 12,333 crore (includingbuyback, dividend and relevant taxes) to the Governmentagainst an investment of Rs 482 crores (inclusive of bonus shares).

The company's board had approved the buyback recently, it added.
HAL is a 100 per cent government-owned Defence Public Sector Undertaking.
Noting that the sales of HAL has grown at an averagerate of 11 per cent per annum in the last 10 years, the companysaid it has so far designed and developed 15 types of Aircraft/Helicopters.
HAL has so far produced nearly 3,900 aircraft and 4,700 aero-engines besides making sterling contributions toIndia's defence and aerospace programmes, it added.