Hindustan Aeronautics Ltd. (HAL) shares will be in focus on December 13 after the defense major inked a pact with the Ministry of Defence (MoD) to provide 12 Su-30MKI aircraft, furthering the thrust on Aatmanirbhar Bharat.
HAL will supply the Indian Air Force with 12 Advanced Sukhoi jets, along with associated equipment, for a sum total of Rs 13,500 crore. The aircraft will have to feature an indigenous content of 62.6 percent, which will be achieved as a result of the homegrown production of the n numerous components manufactured by the Indian defence industry.
These aircraft would be manufactured at Nasik division of HAL. "The supply of these aircraft would enhance the operational capability of the Indian Air Force and strengthen the defence preparedness of the country," said the Ministry of Defence.
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International brokegage UBS noted that so far this year, HAL has received manufacturing orders of Rs 40,000 crore (including an order of Rs 26,000 crore for AL-31 FP engines). Further, the brokerage expects defence orders to bunch up in the upcoming quarter, Q4FY25, and HAL remains the brokerage's top bet in the sector.
Hindustan Aeronautics reported a 22.14 percent rise in consolidated net profit of Rs 1,510.49 crore for the September 2024 quarter. It had posted a net profit of Rs 1,236.67 crore in the July-September period of the preceding 2023-24 fiscal, the company said in an exchange filing.
The company's total revenue was up 6 percent at Rs 5,976.3 crore during the second quarter against Rs 5,635.7 crore in the same period a year ago.
Hindustan Aeronautics has been in focus under Prime Minister Narendra Modi's push for self-reliance (Atmanirbhar Bharat), helping the company bag major defence and manufacturing orders.
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