Hindustan Aeronautics Limited (HAL) recorded the highest ever provisional turnover of Rs 15,480 crores for the financial year 2014-15. Last financial year, this figure was at Rs 15,128 crores. The operating profit for the year was at Rs 1,560 crores against Rs 1,551 crores in 2013-14.

Says T. Suvarna Raju, the newly appointed CMD and long time Chairman of the Board of Directors, "Our performance is in line with the MoU signed with the Ministry of Defence and we expect `Excellent' rating for FY 2014-15. The CAPEX target of Rs. 900 crores has been achieved and we are happy that on the indigenization front, over 2000 items were produced resulting in saving to the tune of Rs. 100 crores,"

HAL has so far completed 384 flights as part of their Design and Development activities. The board has approved production of the 4th technology demonstrator to expedite the process of Initial Operational Clearance (IOC) of LCH. They also carried out the Ground Test Vehicle (GTV) test successfully and the indigenously designed and developed mini UAV had its first flight this year.

IJT surpassed the milestone of cumulative 1000 sorties with 1004 flights completed so far. HAL Basic Turboprop Trainer (HTT-40) completed detailed design, jig fabrication and commissioning. Indigenous LCA has so far completed 2871 flights out of which 364 were carried out during 2014-15 for IAF variant. For naval variant of LCA, 43 flights have been completed and 24 flights were done in FY 2014-15. The critical design review for Mirage 2000 upgrade is also completed. Regarding Hindustan Turbo Fan Engine-25 (HTFE-25), detail design of the core engine is completed and assembly tools and required test setup /test bed is under progress.

HAL initiated new product developments such as supply of rolled rings to Siemens, Canada, and also started customer support, quality, out-sourcing and vendor development, offsets, marketing, IT, HR and CSR during 2014-15.