Hindustan Aeronautics (HAL) added 0.92% to Rs 2710.50 after the Cabinet Committee on Security (CCS) approved procurement of 70 basic trainer aircrafts from the company for Indian Air Force (IAF) at an estimated cost of Rs 6,828.36 crore.
In a statement released yesterday, the Ministry of Defence informed that the Union Cabinet has approved procurement of 70 HTT-40 basic trainer aircraft from Hindustan Aeronautics (HAL) for the Indian Air Force at a cost of Rs 6,828.36 crore. The aircraft will be supplied over a period of six years.
The HTT-40 is a turbo prop aircraft and is designed to have good low speed handling qualities and provide better training effectiveness. This fully aerobatic tandem seat turbo trainer has air-conditioned cockpit, modem avionics, hot re-fueling, running change over and zero-zero ejection seats.
The aircraft will meet the shortage of basic trainer aircraft of IAF for training of newly inducted pilots. The procurement will include associated equipment and training aids including simulators.
Being an indigenous solution, the Aircraft is configurable for upgrades to incorporate the futuristic requirements of the Indian Armed Forces.
The HTT-40 contains approximately 56% indigenous content which will progressively increase to over 60% through indigenisation of major components and subsystems. The HAL would engage Indian private industry, including MSMEs, in its supply chain.
Hindustan Aeronautics (HAL) is engaged in the design, development, manufacture, repair, overhaul, upgrade and servicing of a wide range of products including, aircraft, helicopters, aero-engines, avionics, accessories and aerospace structures. The company has been set up to meet the requirement of Indian Defence Forces (namely Indian Airforce, Indian Navy, Indian Army and Indian Coast Guard) in the area of Aerospace.
The company's consolidated net profit rose 23.8% to Rs 1,155.19 crore despite of 3.9% decline in net sales to Rs 5,665.54 crore in Q3 FY23 over Q3 FY22.
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