Hindustan Aeronautics (HAL) has set up a 208 crore integrated cryogenic engine manufacturing facility (ICMF) in Bengaluru and it will cater to the entire rocket engine manufacturing under one roof for Indian Space Research Organisation (ISRO).
The facility is set up over an area of 4,500 square meter housing over 70 hi-tech equipment and testing facilities for manufacturing cryogenic (CE20) and semi-cryogenic (SE2000) engines of indian space launch vehicles.In 2013, a memorandum of understanding (MOU) was signed with ISRO for establishing the facility for manufacturing of cryogenic engine modules at HAL, Aerospace division. The agreement for the cryogenic engine facility was subsequently amended in the year 2016 for setting up of integrated cryogenic engine manufacturing facility (ICMF) with an investment of Rs 208 crore.
The commissioning of all the critical equipment for the manufacturing and assembly requirement is completed. The pre-production activities which involve preparation of the process plans, drawings, quality plan etc. has also commenced. HAL will start realising the modules by March 2023.
HAL is engaged in carrying out design, development, manufacture, repair and overhaul of aircraft, helicopter, engines and related systems like avionics, instruments and accessories primarily serving Indian defence programme. The Government of India held 75.15% stake in company.
On a consolidated basis, net profit of HAL rose 218.49% to Rs 620.14 crore on 124.19% rise in net sales to Rs 3622.46 crore in Q1 June 2022 over Q1 June 2021.
The scrip shed 4.13% to currently trade at Rs 2,337.10 on the BSE.
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