The Hindustan Aeronautics Limited recorded a turnover of over Rs 21,100 crore (provisional and unaudited) for the financial year ended on March 31, 2020, up from the previous years figure of Rs 19,705 crore.
"The company has posted a revenue growth of around seven percent during 2019-20 for the second year consecutively, post listing as compared to 3.8 percent during 2017-18," the Bengaluru-headquartered defence PSU said in a statement.
The encouraging performance of the company in 2019-20 has been achieved despite difficulties in cash flows, interruptions in operations due to workmen agitation, and March 2020 due to COVID-19 lockdown which has affected the final tests and certification of certain additional aircraft that were under final stages of production, it said.
During 2019-20, 31 new aircraft/helicopters and 117 new engines were produced and overhaul of 199 aircraft /helicopters and 490 engines were undertaken.
HAL has produced 13 new ALHs against the contract of 40, out of which three were produced ahead of schedule for the Indian Army.
The first Helicopter for the Coast guard is ready and awaiting customer trials at Kochi which should have been completed but for the outbreak of Covid-19.
The complete test equipment is already positioned to ensure commencement of trials immediately after the situation improves, the statement said.
The first LCA-Tejas FOC standard aircraft also completed its contract flight test acceptance within 12 months of the standard of preparation release in February 2019.
The aircraft is ready for delivery once the operations resume likely in April 2020, HAL said.
The Glass cockpit of Dornier -228 is an important business portfolio for the future and is expected to get the company more revenues in the years to come.
"The Avionics upgrade of HAWK and SU-30 MKI and BrahMos missile modifications would be a game-changer and is important for us," it said.
HAL has completed production of all SU 30 MKI contracted to HAL by IAF during the current year and is expecting to get a few additional orders for SU-30MKI."With this and the expected order for 83 MK1A LCA which is cleared by DAC and 15 LCH limited series production aircraft, which is in final stages of discussion, the order book is likely to attain a healthy position during the next financial year 2020-21," the statement added.