Dues cleared, HAL cash position back in the black after 2 years | India News – Times of India

BENGALURU: From having needed to borrow to even pay salaries in 2018-19, defence PSU HAL’s cash position is back in the black with most dues from the three defence providers — the PSU’s mainstay clients — having been cleared.
As on date, HAL has Rs 7,135 crore as cash holding in comparison with a adverse of Rs 5,477 on March 31, 2020 and a adverse of Rs 4,051 crore on March 31, 2019. When HAL first borrowed to pay salaries in the final quarter of 2018-19, the PSU had mentioned its cash in hand was in the adverse for the first in two to a few a long time and that it had borrowed Rs 1,000 crore. TOI was the first to report about HAL’s cash issues.
“We had a problem with the cash balance mainly because collections were dipping from September 2017 given that the defence forces had other commitments. This year, we’ve managed to collect almost all our dues. We’ve collected Rs 34,475 crore in 2020-21, while the same was Rs 18,000 crore in 2019-20 and Rs 10,800 crore in 2018-19,”R Madhavan, chairman, HAL instructed TOI.
Further, HAL, whose order ebook is now value round Rs 80,000 crore, is anticipating extra orders this 12 months, and is assured of the identical touching Rs 1-lakh-crore in the subsequent two years.
“Immediate orders visible are for 15 LCH (light combat helicopter) and 12 LUH (light utility helicopter) and the 12 Su-30 fighters,” Madhavan mentioned. He estimated that the LCH order could be value round Rs 3,000 crore whereas the LUH orders are pegged in the vary of Rs 1,500 crore to Rs 2,000 crore on condition that the first batch would solely be restricted collection manufacturing helicopters.
So far HAL has produced 272 Su-30 plane at its Nashik facility and the proposed orders for 12 extra — estimated to be value greater than Rs 10,700 crore going by publicly accessible info — may also occur there.
(*2*) he mentioned.
He mentioned that the AL-31FP is value round Rs 70 crore to Rs 75 crore a bit. That means not less than Rs 4,900 crore. “I’ll have to check for the exact cost of the RD33, but it should be in the same range,” Madhavan mentioned.
Aside from this, he mentioned that the firm is taking a look at exports value Rs 200 crore to Rs 400 crore, which is able to embrace the whole lot from spares to plane. “We have two inquiries from Mauritius and Maldives for the Dornier-228 aircraft,” he mentioned.
And, as reported by TOI earlier, HAL has introduced a income in extra of Rs 22,700 crore (provisional and unaudited) for the 12 months ended on March 31, 2021, in comparison with Rs 21,438 crore in the earlier fiscal.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *