HAL sales up 5.8 percent in 2015-16

State-run Hindustan Aeronautics Ltd (HAL) posted sales turnover of Rs.16,524 crore for the just-concluded fiscal 2015-16, registering 5.8 percent annual growth from Rs.15,622 crore in 2014-15.

"Profit before tax grew marginally 1.2 percent to Rs.3,210 crore from Rs.3,173 crore year ago," it said in a statement here on Tuesday.

Noting that the turnover (provisional) for the fiscal was an all-time high, HAL chairman T. Suvarna Raju said the company had produced 12 Sukhoi fighters from raw material and 17 Hawk trainer jets during the last 12 months.

"We have produced 60 new aircraft and helicopters, overhauled 229 aircraft and choppers, 94 new aero engines, overhauled 446 engines and supplied 143 aerospae structures during the fiscal," he said.

As part of its 'Make in India' programme, the firm had indigenised 2,021 items, saving Rs.126 crore in foreign exchange while its exports accounted for Rs.410 crore.

"About 300 imported systems and sub-systems have been hosted on our website for indigenisation by the private industry as part of the Make in India initiative," the statement noted.

The state-owned company paid to the government Rs.510 crore as dividend for the fiscal and Rs.4,284 crore as buyback of its 25 percent share capital and free reserves.

"The past year, which was platinum jubilee (75 years) for us, was good with many milestones, including a core engine run of 25kN, development of 1200kW turboshaft engine, flight testing of mini UAV (unmanned aerial vehicle) and foundation for new copter facility at Tumakuru near Bengaluru," Raju added.