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Quotas settled, HAL cash position in black after 2 years | India News


BENGALURU: Having had to borrow to pay even salaries in 2018-19, the defense PSU HAL cash position is back in the black with most of the quotas from the three defense services, the main customers of the PSU, which have been liquidated.
To date, HAL has Rs 7,135 crore as cash holding compared to a negative of Rs 5,477 on March 31, 2020 and a negative of Rs 4,051 crore on March 31, 2019 When HAL first borrowed to pay In the last quarter of 2018-19, the PSU had said its cash on hand was negative for the first time in two to three decades and that it had borrowed Rs 1 billion. TOI was the first to report HAL’s cash problems.
“We had a problem with the cash balance mainly because the collection was going down since September 2017 given that the defense forces had other commitments. This year, we were able to collect almost all of our fees. We have collected 34,475 crore rupees in 2020-21, while the same was 18,000 crore rupees in 2019-20 and 10,800 crore rupees in 2018-19, “Madhavan told TOI.
Furthermore, HAL, whose order book is now worth around Rs 80,000 crore, expects more orders this year, and is confident that these will touch Rs 1-lakh-crore in the next two years.
“The immediate visible orders are for 15 LCH (light combat helicopters) and 12 LUH (light utility helicopters) and the 12 Su-30 fighters,” Madhavan said. He estimated that the LCH order would be worth around Rs 3,000 crore, while the LUH orders are pegged in the range of Rs 1,500 crore to Rs 2,000 crore given that the first batch would only be limited series production helicopters.
So far, HAL has produced 272 Su-30 aircraft at its Nashik facility and proposed orders for 12 more, estimated to be worth more than Rs 10,700 crore based on publicly available information, will also be placed there.
“After the initial orders for the two helicopters, we expect orders for more than 180 LUH and 140+ LCH. Orders for two fighter jet engines are also visible: the RD33 for the MiG-29 fighter jets and the AL-31FP for the Su-30. We expect around 65-70 numbers from each one, ”he said.
He said that the AL-31FP is worth around Rs 70 crore to Rs 75 crore a piece. That means at least 4.9 billion rupees. “I will have to verify the exact cost of the RD33, but it should be in the same range,” Madhavan said.
Apart from this, he said that the company is seeking exports worth 200 million rupees to 400 million rupees, which will include everything from spare parts to aircraft. “We have two inquiries from Mauricio and Maldives for the Dornier-228 plane, ”he said.
And, as previously reported by TOI, HAL has announced revenue of more than Rs 22,700 crore (interim and unaudited) for the year ended March 31, 2021, compared to Rs 21,438 crore for the previous fiscal year.

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