Hindustan Aeronautics (HAL) advanced 1.10% to Rs 4705.75 after the company's board has appoved the appointment of D K Sunil, Director (Engineering and R&D) of the company as chairman & managing director with effect from 9 September 2024.
Dr. D. K. Sunil did his graduation in Electronics & Communication Engineering from Osmania University, Hyderabad and M. Tech in Aircraft Production Engg from IIT, Madras. He also completed Ph.D in Electronics Science from University of Hyderabad in the year 2019.Sunil joined Hindustan Aeronautics (HAL) in 1987 as a Management Trainee, and has about 37 years of experience in varied roles in the company contributing significantly to design, production, quality enhancement, and customer support issues.
Meanwhile, the Ministry of Defence has signed a contract with the company for supply of 240 aero-engines (AL-31FP) for Su-30 MKI aircraft of the Indian Air Force (IAF), at a cost of over Rs 26,000 crore.
The aeroengines will be manufactured by the Koraput division of the company and are expected to fulfil the need of the Indian air force to sustain the operational capability of the Su-30 fleet for the defence preparedness of the country.
The company would supply 30 aero-engines per annum as per the contractual delivery schedule. The supply of all 240 engines would be completed over the period of next eight years.
By the end of the delivery programme, the firm would enhance the indigenisation content up to 63% to achieve an average of over 54%. This would also help increase the indigenous content of Repair and Overhaul tasks of the aero-engines.
Also Read
Hindustan Aeronautics (HAL) is an aerospace and defense company, owned by the government of India. The company develops, designs, manufactures, and supplies aircraft, helicopters, avionics, and communications equipment for military and civil markets.
The companys consolidated net profit surged 76.5% to Rs 1,437.16 crore in Q1 FY25 as against Rs 814.24 crore posted in Q1 FY24. Revenue from operations was at Rs 4,347.50 crore in Q1 FY25, up 11.04% as against Rs 3,915.35 crore recorded in Q1 FY24.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content