India's Hindustan Aeronautics Limited has targeted a revenue from operations to the tune of INR17900 Crore ($2.8Billion) during the 2017-18 fiscal year, which is claimed to be its highest ever.
HAL signed a Memorandum of Understanding (MoU) for the financial year 2017-18 with Ministry of Defence (MoD) in Delhi yesterday. The annual MoU was signed between Mr Ashok Kumar Gupta, Secretary, Department of Defence Production and Mr T Suvarna Raju, CMD-HAL.
The Company has also laid specific emphasis on Capacity building, Modernization, Solar Power plants, aiming to achieve capital expenditure of Rs.1300 crores ($201 million).
The Company’s thrust is on Make-in-India projects such as Hindustan Turboprop Trainer-40 (HTT-40), Light Combat Helicopter (LCH) and Light Utility Helicopter (LUH). Among the important milestones targeted to be achieved include clearance by DGCA for civil version of Do-228 aircraft, Jaguar DARIN-III Upgrade and Mirage 2000 Upgrade. The Company also aims to achieve 5% increase in indigenous content through indigenisation under Make-in-India initiatives.