HAL may fly into stock market

The last unlisted navratna, $2-billion Hindustan Aeronautics (HAL), may enter the capital market. The apex committee on navratna PSU, chaired by the Cabinet secretary, has proposed HAL’s listing.
The apex committee has advised “the department of defence production to explore the possibility of listing HAL”, an official said, adding that the move is on Prime Minister Manmohan Singh’s suggestion.
HAL has collaboration with major aviation companies such as Boeing and Eurocopter, and is in the process of developing more advanced aircraft. In a recent move, Boeing agreed in principle to outsource $1 billion in aerospace manufacturing work to HAL over 10 years.
Besides manufacturing aircraft with in-house R&D, HAL also produces aircraft under license. 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 Rs 1,149 crore in 2006-07, a growth of 49.03% over the previous year. During the period, the company registered sales of Rs 7,783 crore.
14/01/08 Niranjan Bharati & Nirbhay Kumar/Economic Times

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Categories: Indian Aviation- In General Jan 2008, New Jan 2008