Hindustan Aeronautics Ltd (HAL), a Navaratna PSU, saw its sales rising yet again with the company seeing sales of Rs 13,061 crore for 2010-11. This was a 14 per cent rise over the previous year.
Announcing the performance highlights for 2010-11 today, HAL in a statement said its Profit Before Tax for the year stood at Rs 2,718 crore. The order book during the financial year increased Rs 8,524 crore. The firm declared an interim dividend of Rs 300 crore for the year 2010-11.
The highlights of the aeronautics major during the year included the initial operation clearance (IOC) for the ALH Mk-III and Shakti Engine utility variant by the Certification Authority.
Flying effort of the Light Combat Helicopter is set to increase with the introduction of the Technology Demonstrator-2 into flight tests.
HAL saw the first Su-30 MKI aircraft manufactured out of the raw material rolled out of the company this fiscal and the first raw material phase engine for the Su30 MKI successfully completed the Long Test at Koraput.
The 100th Dornier DO-228 aircraft was manufactured at HAL, Kanpur, and a Cheetah Helicopter was produced for export to Namibia.
The company also launched three major development projects. The design for the Light Utility Helicopter (LUH) was frozen in coordination with the customers and the detailed design phase has commenced.
A contract was signed with Russia for commencing the preliminary design of the Fifth Generation Fighter Aircraft (FGFA) and a Joint Venture company for the co-development of Multi-role Transport Aircraft (MTA) was formed with the Russian partners, the statement said.
