Tarmak007 -- A bold blog on Indian defence: HAL crosses Rs 15,000 crore milestone | We are preparing the company beyond 2020: Tyagi

Thursday, April 3, 2014

HAL crosses Rs 15,000 crore milestone | We are preparing the company beyond 2020: Tyagi

HAL Chairman R K Tyagi completed two years in office and his close aides say that he has injected fresh ideas to inspire the workforce. His critics, however, say that a lot more needs to be done on the HR front, which is still the weak link. Photo: MoD
(Press Release | Unedited)

HAL has notched-up the highest ever turnover of Rs. 15,180 crores for the FY 2013-14 surpassing the previous year's figure of Rs. 14,324 crores. "We crossed the psychological barrier of Rs. 15,000 crores and the production has been pretty good as we produced 60 aircraft and helicopters, achieved the initial operational clearance (II) of LCA and filed record 209 patents during the year", said Dr. R.K. Tyagi, Chairman, HAL. "We are preparing the company for 2020 and beyond", he added. HAL’s Value of Production (VOP) for FY 2013-14, stood at Rs. 15,296 crores as against the figure of Rs. 14,202 crores of the previous year. The operating profit went up to Rs. 1,651 crores in the FY 2013-14 as against Rs. 1,194 crores in 2012-13.
In the meantime, HAL received the “Most Efficient Navratna 2013” award at the fifth Dalal Street Investment Journal Awards night held in New Delhi yesterday. HAL Chairman, Dr. R.K. Tyagi received the award from the jury. The awards were presented to the various PSUs in different categories in recognition of their performance and contribution to the Indian economy.
Some of the HAL highlights for the FY 2013-14 included Initial Operational Clearance (IOC) received for Light Combat Aircraft (LCA), sea level, night level and high altitude trials successfully done for IJT, induction of first completely Indian manufactured Hawk Advanced Jet Trainer by INS Dega, Visakhapatnam, dedication of ALH-Dhruv, Garuda Vasudha to the nation for exploration of mineral wealth, contribution of structures for Mars Orbiter Mission (MOM) and Crew Module structure assembly for the Human Spaceflight Programme (HSP) to ISRO.
Besides the prudent financial management, the company took several initiatives on R&D front, indigenisation, quality, customer support, IT, HR and CSR. HAL played a vital role during the Uttarakhand flood relief operation during July 2013 as its ALH-Dhruv performed effectively in a massive rescue and relief operation, clocking more than 600 hrs of flying.

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