HAL gets most efficient Navratna award 2013, posts highest turnover for FY 13-14

RK Tyagi, HAL chairman (extreme right) receiving the award

STATE-owned HAL has added yet another feather to its glorious cap when it received the "Most Efficient Navratna 2013" award at the fifth Dalai Street Investment Journal Awards night held in New Delhi on April 2. HAL chairman Dr RK Tyagi received the award from the jury. The award is in recognition for the PSU's highest ever...
turnover of Rs 15,180 crore that it has posted for the FY 2013-14 surpassing the previous year’s figure of Rs 14,324 crore.
The awards were presented to the various PSUs in different categories in recognition of their performance and contribution to the Indian economy, said a HAL statement. Advisor to Prime Minister TKA Nair and Dr Pritam Singh, Director General of International Management Institute, New Delhi, addressed the top executives representing Maharatna, Navratna, Miniratna, government insurance companies and banks.
Speaking on the occasion, Dr. Tyagi dedicated the award to all HALites and said the company is on its way to future growth through measures taken on various fronts such as R&D, modernization, customer initiatives, quality and thrust given on indigenisation.
“We crossed the psychological barrier of Rs. 15,000 crore and the production has been pretty good as we produced 60 aircraft and helicopters, achieved the initial operational clearance (II) of LCA and filed record 209 patents during the year," said Dr Tyagi.
"We are preparing the company for 2020 and beyond", he added. HAL's Value of Production (VOP) for FY 2013-14, stood at Rs 15,296 crore as against the figure of Rs 14,202 crore of the previous year. The operating profit went up to Rs. 1,651 crore in the FY 2013-14 as against Rs. 1,194 crore in 2012-13.
"We rolled out 60 aircraft and helicopters, achieved the initial operational clearance for the light combat aircraft (LCA) Tejas fighter and filed 209 patents during the fiscal under review," HAL chairman RK Tyagi said in a statement.
The defence behemoth's operating profit, however, shot up 38 percent year-on-year (YoY) to Rs 1,651 crore from Rs 1,194 in 2012-13. HAL's value of production has gone up 7.7 percent YoY to Rs 15,296 crore last fiscal from Rs 14,202 crore year ago.
"We are preparing the company for 2020 and beyond having crossed Rs 15,000 crore in turnover in FY 2014," Tyagi noted.
"We also delivered aerospace structures to the Mars Orbiter Mission (MOM) and crew module structure assembly for the human spaceflight programme of the Indian space agency," the statement added.