Hindustan Aeronautics Ltd (HAL) on 3 April 2014 recieved the Most Efficient Navratna Award for the year 2013. It received the award at the 5th Dalal Street Investment Journal Awards ceremony held in New Delhi. The award was collected by the Chairman of HAL, Dr. R K Tyagi.
The awards were presented to the various PSUs in different categories in recognition of their performance and contribution to the Indian economy.
The award was given to the company for the measure it has taken on various fronts such as R&D, modernization, customer initiatives, quality and thrust given on indigenization.
In the financial year 2013-14, HAL achieved its highest ever turnover. In 2013-14 it achieved a turnover of 15180 crore rupees surpassing the figure of 14324 crore rupees in 2012-13.
About Hindustan Aeronautics Limited
Hindustan Aeronautics Limited (HAL) came into existence on 1st October 1964. The Company was formed by the merger of Hindustan Aircraft Limited with Aeronautics India Limited and Aircraft Manufacturing Depot, Kanpur.
The Company traces its roots to the pioneering efforts of an industrialist with extraordinary vision, the late Seth Walchand Hirachand, who set up Hindustan Aircraft Limited at Bangalore in association with the erstwhile princely State of Mysore in December 1940. The Government of India became a shareholder in March 1941 and took over the Management in 1942.
Today, HAL has 19 Production Units and 10 Research & Design Centres in 8 locations in India.
At present there are 14 Central Public Sector Enterprises (CPSEs) which have been designated as Navratnas by the Department of Industrial Policy and Promotion (DIPP) under the Union Ministry of Heavy Industries and Public Enterprises. These are:
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Where: New Delhi
When: 3 April 2014