Hindustan Aeronautics Ltd Secures Massive Defence Contract - News

In a significant contribution to the ‘Make in India’ initiative and self-reliance in defence manufacturing, Hindustan Aeronautics Ltd (HAL) has received a request for proposal (RFP) from the Ministry of Defence for 156 light combat helicopters (LCH). This procurement, worth INR 45,000-50,000 crore, includes 90 helicopters for the Indian Army and 66 for the Indian Air Force. 

Following the announcement, the company’s shares increased by more than 4.3 percent to INR 5,427. Its consolidated revenue surged by 52.19 percent to INR 4,308.68 crore in Q4 of the financial year 2024 (FY24), compared to INR 2,831.19 crore in Q4 FY23. Revenue from operations increased by 18.36 percent year-on-year to INR 14,788.75 crore during the quarter. 

Shri Rajnath Singh, Defence Minister, Government of India, disclosed the government’s goal to strengthen the country’s security apparatus and achieve self-reliance in defence manufacturing. This commitment is evident in the increased order books of defence companies like Bharat Electronics Ltd (BEL), with an order book of INR 75,934 crore. Additionally, Larsen & Toubro’s order books increased to INR 94,000 crore. Moreover, the government aims to establish India as a significant player in the global defence market through enhanced defence exports.