HAL wins ₹1,800-crore order from Pawan Hans to supply 10 Dhruv NG helicopters

Public sector aerospace major Hindustan Aeronautics Ltd (HAL) on Thursday (January 29) said it signed a contract with Pawan Hans Ltd for the supply of 10 Dhruv NG helicopters, including associated spares and accessories, at an estimated value exceeding ₹1,800 crore.

The agreement was signed in Hyderabad and is scheduled for completion by 2027. The contract has been awarded by a domestic entity, Pawan Hans Ltd, based in Noida, India. HAL confirmed that neither the promoter nor the promoter group or group companies have any interest in Pawan Hans.

For the first half of the current financial year, Hindustan Aeronautics' EBITDA margin stood at 24.8%, which is lower than the company's full-year guidance of 31%. The EBITDA margin for the second quarter, which stood at 23.5%, was not only lower than the 27.4% figure reported last year, but also well below the CNBC-TV18 poll estimate of 28.2%.

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HAL's net profit for Q2 increased by 10.5% from the same quarter last year to ₹1,669 crore, which is marginally below the CNBC-TV18 poll of ₹1,702 crore. Revenue for the quarter stood at ₹6,629 crore, which is up 11% from last year, and in-line with the CNBC-TV18 poll of ₹6,582 crore.

Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter declined by 5% to ₹1,558 crore from ₹1,640 crore last year. A CNBC-TV18 poll had projected the EBITDA figure to be ₹1,854 crore.

Shares of Hindustan Aeronautics Ltd ended at ₹4,602.05, down by ₹23.75, or 0.51%, on the BSE.

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