HAL Secures Major Defence Contract, Boosts ‘Make in India’ Initiative

Bengaluru, India – Hindustan Aeronautics Ltd (HAL), an Indian public sector aerospace and defense company, has received a request for proposal (RFP) from the Ministry of Defence to procure 156 Light Combat Helicopters (LCH), a move expected to boost the domestic defense manufacturing industry and the Government’s ‘Make in India’ campaign. This tender is estimated at between INR 45,000-50,000 crore and consists of 90 helicopters for the Indian Army and 66 for the Indian Air Force. Against the backdrop, HAL’s shares jumped, with consolidated revenue rising by 52 percent to INR 4,308 crore for the fourth quarter of FY24 and a year-on-year improvement of 18 percent in revenue from operations to INR 14,788 crore.

 For Rajnath Singh, the Defence Minister of India, the pointers remain optimistic, especially when he reasserted the Government’s enunciated aspiration of attaining ‘Aatmanirbharata’ or self-reliance in defense manufacturing. HAL’s order book currently stands at INR 38,561 crore, with more potential orders on its record for future deals for advanced GE engines. Large players in the industry, such as Bharat Electronics Ltd (BEL) and Larsen & Toubro (L&T), also unveil strong order books, highlighting the sector’s growth trajectory and expanding opportunities.

Image Source: Magic Wand Media

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