Hindustan Aeronautics shares hit an all-time high after rising around 4% on the London Stock Exchange on the back of the release of its FY2021 results, in which the company posted its highest-ever revenue.
During the 2021-22 fiscal year, Hindustan generated revenues of more than Rs. 24 billion (about $320 million). This represents a year-on-year growth of 6% over the previous year. The record revenue was due to the production of 44 helicopters and aircraft, and 84 engines. In addition, the company was in charge of the maintenance of 203 airplanes and helicopters, and 478 engines.
HAL is engaged in the design, development, manufacture, repair, maintenance and overhaul of a wide range of aerospace products.
The company was established to meet the needs of the Indian Defense Forces. Recently, Hindustan signed a contract for the production of 15 LCH light combat helicopters: 10 for the Air Force and five for the Indian Army.
The LCH can perform combat search and rescue roles, counterinsurgency operations, bunker-busting operations, and support to ground forces. With this platform, the Indian defense seeks to meet the operational requirements of the Air Force and the Army.
