Hindustan Aeronautics announced that Dr. Rajalakshmi Menon, OS & DG (Aero), DRDO, has been appointed as Part-time Official Director (Government Nominee Director) on the Board of Directors of the Company in place of Muzaffaruddin Siddique Zakiruddin Siddique. The change in effect from 13 September 2024. Powered by Capital Market - Live

Dr. D. K. Sunil did his graduation in Electronics & Communication Engineering from Osmania University, Hyderabad and M. Tech in Aircraft Production Engg from IIT, Madras. He also completed Ph.D in Electronics Science from University of Hyderabad in the year 2019. Sunil joined Hindustan Aeronautics (HAL) in 1987 as a Management Trainee, and has about 37 years of experience in varied roles in the company contributing significantly to design, production, quality enhancement, and customer support issues. Meanwhile, the Ministry of Defence has signed a contract with the company for supply of 240 aero-engines (AL-31FP) for Su-30 MKI aircraft of the Indian Air Force (IAF), at a cost of over Rs 26,000 crore. The aeroengines will be manufactured by the Koraput division of the company and are expected to fulfil the need of the Indian air force to sustain the operational capability of the Su-30 fleet for the defence preparedness of the country. The company would supply 30 aero-engines per annum as per the contractual delivery schedule. The supply of all 240 engines would be completed over the period of next eight years. By the end of the delivery programme, the firm would enhance the indigenisation content up to 63% to achieve an average of over 54%. This would also help increase the indigenous content of Repair and Overhaul tasks of the aero-engines. Hindustan Aeronautics (HAL) is an aerospace and defense company, owned by the government of India. The company develops, designs, manufactures, and supplies aircraft, helicopters, avionics, and communications equipment for military and civil markets. The company's consolidated net profit surged 76.5% to Rs 1,437.16 crore in Q1 FY25 as against Rs 814.24 crore posted in Q1 FY24. Revenue from operations was at Rs 4,347.50 crore in Q1 FY25, up 11.04% as against Rs 3,915.35 crore recorded in Q1 FY24.Powered by Capital Market - Live

Hindustan Aeronautics announced that consequent upon approval of the Cabinet Committee on Security (CCS), the Ministry of Defence has signed a Contract today with the Company for supply of 240 aero-engines (AL-31FP) for Su-30 MKI aircraft of the Indian Air Force (IAF), at a cost of over Rs. 26,000 crore.Powered by Capital Market - Live

The Defence Acquisition Council (DAC), under the chairmanship of Raksha Mantri Rajnath Singh on 03 September  2024, accorded Acceptance of Necessity (AoN) for 10 capital acquisition proposals amounting to Rs 1,44,716 crore. Of the total cost of AoNs, 99% is from indigenous sources under Buy (Indian) and Buy (Indian-Indigenously Designed Developed and Manufactured) categories. For modernisation of the tank fleet of the Indian Army, the proposal for procurement of Future Ready Combat Vehicles (FRCVs) has been cleared. The FRCV will be a futuristic Main Battle Tank with superior mobility, all terrain ability, multilayered protections, precision & lethal fires over and real-time situational awareness. The AoN was also accorded for procurement of Air Defence Fire Control Radars, which will detect & track aerial target and provide firing solution. The proposal has also been approved for Forward Repair Team (Tracked) which has suitable cross country mobility for carrying out in-situ repair during mechanised operations. This equipment is designed & developed by Armoured Vehicles Nigam, and is authorised for both mechanised Infantry Battalion and Armoured Regiment. Three AoNs have been accorded to enhance the capabilities of the Indian Coast Guard (ICG). The procurement of Dornier-228 aircraft, Next Generation Fast Patrol Vessels having high operational features in rough weather conditions and Next Generation Offshore Patrol Vessels with advanced technology and enhanced long-range operations, will enhance the capability of ICG to carry out surveillance, patrolling of maritime zone, search & rescue and disaster relief operations.Powered by Capital Market - Live

The key equity indices continued to trade with tiny losses in mid-morning trade. The Nifty traded below the 25,300 level. PSU Bank shares fell after advancing for the three consecutive trading sessions. At 11:30 IST, the barometer index, the S&P BSE Sensex fell 77.28 points or 0.09% to 82,481.76. The Nifty 50 index shed 22 points or 0.09% to 25,256.70. The broader market outperformed the frontline indices. The S&P BSE Mid-Cap index added 0.24% and the S&P BSE Small-Cap index gained 0.62%. The market breadth was strong. On the BSE, 2,038 shares rose and 1,721 shares fell. A total of 126 shares were unchanged. IPO Update : The initial public offer (IPO) of Baazar Style Retail received 9,96,64,424 bids for shares as against 1,50,30,116 shares on offer, according to stock exchange data at 11:20 IST on Tuesday (2 September 2024). The issue was subscribed 6.63 times. The issue opened for bidding on 30 August 2024 and it will close on 3 September 2024. The price band of the IPO was fixed between Rs 370 to 389 per share. An investor can bid for a minimum of 38 equity shares and in multiples thereof. The initial public offer (IPO) of Gala Precision Engineering received 4,17,71,296 bids for shares as against 22,23,830 shares on offer, according to stock exchange data at 11:20 IST on Tuesday (2 September 2024). The issue was subscribed 18.78 times. The issue opened for bidding on Monday (2 September 2024) and it will close on Wednesday (4 September 2024). The price band of the IPO is fixed between Rs 503 to Rs 529 per share. An investor can bid for a minimum of 28 equity shares and in multiples thereof. Buzzing Index : The Nifty PSU Bank index fell 0.40% to 6,993.15. The index added 0.61% in the past three consecutive trading sessions. Canara Bank (down 0.95%), State Bank of India (down 0.44%), Punjab & Sind Bank (down 0.42%), Punjab National Bank (down 0.39%), Bank of Baroda (down 0.3%), Indian Overseas Bank (down 0.23%), Indian Bank (down 0.19%), UCO Bank (down 0.1%), Bank of Maharashtra (down 0.1%) and Central Bank of India (down 0.05%) declined. Stocks in Spotlight : Hindustan Aeronautics (HAL) gained 3.11% after the Cabinet Committee on Security (CCS) approved the proposal for procurement of 240 aero-engines for Su-30 MKI aircraft of the Indian Air Force (IAF) at a cost of over Rs 26,000 crore. Gensol Engineering fell 0.19%. The company in collaboration with Matrix Gas & Renewables, has emerged as the lowest bidder for EPC for developing India's first Bio-Hydrogen project for India's leading power generation company. Global Markets : Asian stocks traded lower on Tuesday, led by Japanese equities, while the yen steadied after weakening against the dollar over the past week. South Korea's headline inflation eased to 2% in August from 2.6% in July, its lowest level on a year-on-year basis since March 2021. Traders in Asia will be keeping a close eye on fresh signs of economic troubles in China. Data on Saturday showed Chinese factory activity had contracted for a fourth straight month in August, the latest signal that the world's second-largest economy may struggle to meet this year's growth target. Wall Street will reopen later Tuesday, following the Labor Day public holiday.Powered by Capital Market - Live

The delivery of these aero-engines would start after one year and complete over the span of eight years. The engines will have indigenous content over 54%, enhanced due to indigenisation of some key components of aero-engines. These would be manufactured at Koraput division of HAL. Su-30 MKI is one of the most powerful and strategically-significant fleet of IAF. The supply of these aero-engines by company would meet the fleet sustenance requirement of IAF to continue their unhindered operations and strengthen the defence preparedness of the country. Hindustan Aeronautics (HAL) is an aerospace and defense company, owned by the government of India. The company develops, designs, manufactures, and supplies aircraft, helicopters, avionics, and communications equipment for military and civil markets. The company's consolidated net profit surged 76.5% to Rs 1,437.16 crore in Q1 FY25 as against Rs 814.24 crore posted in Q1 FY24. Revenue from operations was at Rs 4,347.50 crore in Q1 FY25, up 11.04% as against Rs 3,915.35 crore recorded in Q1 FY24. Powered by Capital Market - Live

Cabinet Committee on Security, on 02 September 2024, approved the proposal for procurement of 240 aero-engines (AL-31FP) for Su-30 MKI aircraft of the Indian Air Force (IAF) under Buy (Indian) category from Hindustan Aeronautics (HAL) at a cost of over Rs 26,000 crore inclusive of all taxes and duties. The delivery of these aero-engines would start after one year and complete over a period of eight years. The engines will have indigenous content over 54%, enhanced due to indigenisation of some key components of aero-engines. These would be manufactured at Koraput division of HAL. Su-30 MKI is one of the most powerful and strategically-significant fleet of IAF. The supply of these aero-engines by HAL would meet the fleet sustenance requirement of IAF to continue their unhindered operations and strengthen the defence preparedness of the country.Powered by Capital Market - Live

In an exchange filing, the company said, 'HAL and SAFHAL have signed an airframer contract, to commence joint design, development, manufacture, supply and support of a new generation high power engine named 'Aravalli' for the 13-ton medium lift class, Indian multi-role helicopter (IMRH) and the deck-based multi-role helicopter (DBMRH), being designed and developed by HAL.' SAFHAL, a joint venture between Safran Helicopter Engines SAS and HAL, is dedicated to the design, development, production, sales and support of new generation helicopter engines in India. Under this strategic contract, SAFHAL will work with its parent companies on cutting-edge engine technologies, ensuring superior performance, reliability, and operational efficiency. This collaboration involves state-of-the-art design, advanced manufacturing processes and rigorous testing protocols to meet the highest global standards, the company stated in the press release. C B Ananthakrishnan, chairman and managing director (additional charge) at HAL, said, The collaboration will not only ensure the operational capabilities of the IMRH and DBMRH platforms but also contribute to the broader goal of indigenous development of critical defence technologies. Cedric GOUBET, CEO of Safran Helicopter Engines said, With this project, we are enriching the collaboration with HAL as well as the strategic relationship between India and France. Our combined expertise and resources will ensure the success of the IMRH and DBMRH programs, while contributing to the growth of India's aerospace & defence sector. We look forward to designing, producing and supporting those new efficient helicopter engines.' Hindustan Aeronautics (HAL) is an aerospace and defense company, owned by the government of India. The company develops, designs, manufactures, and supplies aircraft, helicopters, avionics, and communications equipment for military and civil markets. The company's consolidated net profit surged 76.5% to Rs 1,437.16 crore in Q1 FY25 as against Rs 814.24 crore posted in Q1 FY24. Revenue from operations was at Rs 4,347.50 crore in Q1 FY25, up 11.04% as against Rs 3,915.35 crore recorded in Q1 FY24. Powered by Capital Market - Live

Hindustan Aeronautics (HAL) and SAFHAL Helicopter Engines (SAFHAL) have signed an airframer contract, to commence joint design, development, manufacture, supply and support of a new generation high power engine named 'Aravalli' for the 13-ton Medium Lift class, Indian Multi-Role Helicopter (IMRH) and the Deck-Based Multi-Role Helicopter (DBMRH), being designed & developed by HAL. SAFHAL, a joint venture between Safran Helicopter Engines SAS and HAL, is dedicated to the design, development, production, sales and support of new generation helicopter engines in India, marks a significant milestone in India's aerospace and defence sector, aiming to enhance the nation's Aatmanirbharta in helicopter engine technology. Under this strategic contract, SAFHAL will work with its parent companies on cutting-edge engine technologies, ensuring superior performance, reliability, and operational efficiency. This collaboration involves state-of-the-art design, advanced manufacturing processes and rigorous testing protocols to meet the highest global standards. IMRH is a new 13-ton multi-role helicopter designed by HAL to meet the requirements of the Indian Armed Forces. A naval version, the 12.5-ton DBMRH is also being developed for the Indian Navy. The engines will be designed to operate in diverse and challenging environments in which these Helicopters get deployed. Future extension to the civil market for offshore operations, utility, VVIP transport etc., is also planned followed by MRO activities. Powered by Capital Market - Live

Hindustan Aeronautics announced the cessation of the following senior management personnel of the company with effect from 31 August 2024: C B Anantha Krishnan - Director (Finance) with Addl. Charge of CMD E P Jayadeva - Director (Operations) D Deepak - Executive Director (HR) Powered by Capital Market - Live