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HAL stock rallies 4% on record revenue of over Rs 22,700 crore

"HAL ended the year with a positive cash balance of around Rs 6,700 crore as against borrowings of Rs 5,775 crore as on March 31, 2020," the company said.

April 01, 2021 / 10:25 AM IST
Representative image (Image: PTI)

Representative image (Image: PTI)

 
 
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Hindustan Aeronautics (HAL) share price jumped over 4 percent in the morning session on April 1 after the company reported all-time high revenue of over Rs 22,700 crore for the year ended on March 31, 2021.

The company attained the feat even as operations were hit by production shut-downs and supply chain disruptions after the COVID-19 outbreak.

"In spite of the pandemic that affected company's operations and disrupted the supply chain (both within and outside the country), HAL recorded a revenue in excess of Rs 22,700 crore (provisional and unaudited) for the financial year ended on March 31, 2021," the company said in a filing to the BSE.

"The corresponding figure for the previous year stood at Rs 21,438 crore. It posted a revenue growth of around 6 percent in FY 2020-21 thanks to the improved productivity after suspending the operations for one month in the beginning of the year," the company added.

The stock was trading at Rs 1,035.95, up Rs 41.10, or 4.13 percent. It has touched an intraday high of Rs 1,051.30 and an intraday low of Rs 1,014.95.

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The Indian aerospace and defence company further said that the cash flow position has improved significantly with improved budget allocation from defence customers and it stands in excess of Rs 34,000 crore including advance payment of around Rs 5,400 crore for 83 LCA MK1A contract. This helped HAL to liquidate all its borrowings availed from the banks.

"HAL ended the year with a positive cash balance of around Rs 6,700 crore as against borrowings of Rs 5,775 crore as on March 31, 2020," it added.

Hindustan Aeronautics Limited (HAL) is an Indian state-owned aerospace and defence company, headquartered in Bengaluru under the management of the Indian Ministry of Defence. It is primarily involved in the operations of the aerospace and is currently involved in the design, fabrication and assembly of aircraft, jet engines, helicopters and their spare parts.
Moneycontrol News
first published: Apr 1, 2021 10:25 am

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