Apex committee recommends market listing for HAL
14 Jan 2008
New Delhi: An apex committee on navratna PSUs, chaired by the Cabinet secretary, has proposed the listing of the $2-billion Hindustan Aeronautics Ltd (HAL), the last of the navaratna PSUs to remain unlisted.
The apex committee has advised ''the department of defence production to explore the possibility of listing HAL.'' Reports in the media say that the move is being made on the suggestion of the prime minister.
HAL has collaboration deals virtually with all global aerospace majors, European, American and Russian. Boeing, Airbus and Eurocopter all have entered into agreements for the production of parts, aircraft and helicopters with HAL, which has decades of unmatched experience in producing a bewildering variety of aerospace products. The Russians are producing advanced fighter aircraft and engines in collaboration with HAL.
Over the decades it has produced British, Russian, French aircraft, helicopters, engines and avionics, apart from designing its own. The oldest aerospace establishment in Asia, it continues to be the continents best.
The Bangalore-based company has 16 production units and nine R&D centres. It has participated in the country's space programmes by manufacturing structures for satellite vehicles such as PSLV and GSLV.
HAL recorded a PAT of Rs1,149 crore in 2006-07, a growth of 49.03% over the previous year. During the period, the company registered sales of Rs7,783 crore.
In a recent move, Boeing agreed in principle to outsource $1 billion in aerospace manufacturing work to HAL over 10 years.
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