The Government owned Hindustan Aeronautics Limited records a turnover of over 18,000 crores (provisional and unaudited) for the year ending March 31, 2018 (corresponding figure for the previous year was 17,605 crores). The Company expects continued "Excellent" MoU rating for the FY 2017-18 from Government of India on meeting all the relevant parameters related to its performance.
During the FY 2017-18, the Company has produced 40 new aircraft/helicopters and 105 new engines. The Company has also carried out overhaul of 220 aircraft/helicopters and 550 engines. The Company has received order of 41 Advanced Light Helicopters and 8 Chetak helicopters from Indian Armed Forces in the FY 2017-18. In the other major achievements, the Company received Initial Operational Clearance (IOC) certificate for its Light Combat Helicopter (LCH), Certificate of Airworthiness for its civil variant Dornier Do-228 from DGCA, acceptance of Mirage 2000 upgrade by Air HQ after its Final Operational Clearance, first successful run of Hindustan Turbo Shaft Engine -1200 and successful test firing of BrahMos missile from Su-30 MKI etc.
Mr. T. Suvarna Raju, Chairman & Managing Director of HAL says that, "The Company strongly supports the Indian Armed Forces with its indigenous and licence manufactured products. The Company has also continued to emphasize on self-reliance towards development of indigenous products, diversification into civil segment, enhancement of capacity, support development of defence manufacturing eco-system by developing domestic vendors (including MSMEs) and enhance outsourcing. These efforts will provide steady growth of the Company and opportunities to capitalize on the future requirements arising for Indian Armed Forces."