India's Hindustan Aeronautics Limited (HAL) has said it is in position to achieve strong near-term growth due to its orderbook sales, a commitment to research and development (R&D), and its growing repairs and overhauls business.
The company, based in Bangalore, said in a presentation to investors on 16 September that it expects to build on its solid financial performance in fiscal year 2018-19 when it achieved record turnover and pre-tax profits of INR197 billion (USD2.7 billion) and INR36.3 billion. These represented year-on-year increases of nearly 8% and 12% respectively.
HAL's order book for 2018-19 was INR585.9 billion, which is a 4% decline on the value of orders one year earlier.
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