HAL records sales of Rs 13,061 cr in FY11

Hindustan Aeronautics (HAL) a Navaratna Company, posted yet another record high financial performance for the year 2010-11 achieving sales of Rs 13,061 crore, up by 14% over previous year.

Announcing the performance highlights for the year 2010-11 today, HAL in a statement said its Profit Before Tax (PBT) for the year was at Rs 2,718 crore. The order book during the financial year increased by Rs 8,524 crore.

The firm which declared an interim dividend of Rs 300 crore for the year 2010-11 said that for the 10th year running it will meet all the targets set in "Excellent" category in respect of the MoU concluded with the government of India.

The higlights of the aeronautics major during the year included 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 also set to increase with the introduction of the Technology Demonstrator-2 (TD2) into flight tests.

The first Su-30 MKI aircraft manufactured out of raw material rolled out of the Company in this financial year and the first raw material phase engine for the Su30 MKI successfully completed the Long Test at its Koraput facility.

The 100th Dornier DO-228 aircraft was manufactured from HAL, Kanpur and a Cheetah Helicopter was produced for export to Namibia.

IOC for LCA granted by Certification Authority and LCA – Navy first prototype was rolled out.

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.