HAL has concrete orders to build Su30, LCA, Tejas and Chetak helicopters: Rajnath Singh

The Hindustan Aeronautics Limited (HAL) has concrete orders to manufacture Su30 MKI, Light Combat Aircraft Tejas, Dornier, Advanced Light Helicopter, Chetak, Cheetal helicopters among others and defence services have paid the aerospace major Rs 8,140 crore in the last six months, Defence Minister Rajnath Singh said Monday.

READ | Aerospace Major HAL Records All-time High Turnover, Registers A Growth Of 7.8% In 2018-19

A balance of Rs 868.14 crore is outstanding with Hindustan Aeronautics Limited for its contractors, he said. In a written response to a question in the Rajya Sabha, Singh said that the state run aviation organization had a potential to undertake some of the projects:

"The present capacity available in HAL is adequate to fulfil the existing orders, projects in hand. Currently, HAL has firm orders to manufacture platforms like Su-30 MKI, LCA, DO-228 (Dornier), ALH, Chetak and Cheetal helicopters," 

He said that as and when required the HAL borrows from banks to meet the capital requirements. Prior to the polls, the Congress had launched an offensive against the government alleging that Dassault Aviation, the makers of Rafale fighter jet, overlooked the PSU and gave the offset contract to another private company alleging that the Centre denied HAL an off-set contract for 36 fighter jets.. The issue also reverberated during the Lok Sabha polls.

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Earlier this year, the aviation major was forced to borrow Rs 1,000 crore to pay salaries to its employees for the first time in years. Last month, HAL has posted an all-time high turnover of Rs 19,705 crore, registering a growth of 7.8 per cent in 2018-19. In a company statement, HAL said:

"HAL's Profit After Tax (PAT) for the fiscal year 2018-19 stood at Rs 2,282 crore, an increase of 14.8 per cent over Rs 1,987 crore in the corresponding previous year. An interim dividend of Rs 662 crore has already been paid by the company for the year 2018-19." 

The Order Book Position of the company as on March 31, 2019, was at Rs 58,000 crore.