Hindustan Aeronautics logs record Rs 22,700 cr in top line on IAF dues

Until last year, the IAF's failure to pay HAL for aircraft already delivered to it had forced the company to turn to bank borrowings to pay employees' salaries

Hindustan Aeronautics (HAL) has registered its all-time high revenue of over Rs 22,700 crore for FY21, even as operations were hit by production shut-downs and supply chain disruptions after the outbreak.
 
“The firm has posted (this revenue growth) thanks to improved productivity after suspending operations for one month in the beginning of the year,” said a statement.
 
“The record revenue was achieved thanks to production of 41 helicopters/aircraft, 102 new engines, and overhaul of 198 aircraft/helicopters and of 506 engines,” said R Madhavan, HAL’s chief. With several large orders having been placed with HAL for FY21, the order