HAL gains on opening office in Malaysia

Image
Capital Market
Last Updated : Aug 18 2022 | 1:31 PM IST

Hindustan Aeronautics (HAL) rose 1.82% to Rs 2332.70 after the company said it signed an MoU for establishing an office in Kuala Lumpur, Malaysia.

HAL said the office in Malaysia will help the company in tapping the new business opportunities for Fighter Lead-in Trainer (FLIT) Light Combat Aircraft (LCA) and other requirements of Royal Malaysian Air Force (RMAF) like Su-30 MKM and Hawk upgrades.

HAL said it had submitted a proposal to Ministry of Defence (MINDEF), Malaysia during October 2021 for supply of 18 FLIT LCAs against a global tender issued by RMAF. The final winner of the tender is expected to be declared soon by Malaysian authorities. LCA Tejas stands a fair chance of selection in the bid as it meets all the parameters sought by RMAF, HAL said.

Further, being one of the largest producer of Russian origin Su-30 aircraft. HAL has capabilities to extend the required support to RMAF for Su-30 MKM fleet which is facing low serviceability issues due to ongoing Russia-Ukraine crisis. HAL can support RMAF for upgrading their Hawk fleet as wcll. Other HAL platforms like HTT-40, Do228, Advanced Light Helicopter (ALH), Light Combat Helicopter (LCH) etc., have the potential to be inducted by RMAF in future.

HAL said its office in Kuala Lumpur will take up market promotion of HAL's range of products and services not only in Malaysia but in the entire South Fast Asia. The office will also contribute in increasing serviceability of existing platforms being operated by RMAF and for neighbouring Air Forces in the region, it said.

HAL is engaged in carrying out design, development, manufacture, repair and overhaul of aircraft, helicopter, engines and related systems like avionics, instruments and accessories primarily serving Indian defence programme. The Government of India held 75.15% stake in company.

On a consolidated basis, net profit of HAL rose 218.49% to Rs 620.14 crore on 124.19% rise in net sales to Rs 3622.46 crore in Q1 June 2022 over Q1 June 2021.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

Subscribe to Business Standard digital and get complimentary access to The New York Times

Quarterly Starter

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

Save 46%

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Access to Exclusive Premium Stories Online

  • Over 30 behind the paywall stories daily, handpicked by our editors for subscribers

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Aug 18 2022 | 1:10 PM IST

Next Story