HAL to pursue growth opportunities despite challenges
Bengaluru, Sep 28 : State-run Hindustan Aeronautics Ltd (HAL) will pursue growth opportunities despite facing challenges, said a top official of the aerospace major on Friday.
"We are committed to pursue growth opportunities in spite of the challenges," HAL's new Chairman R. Madhavan told the shareholders at the company's 55th Annual General Meeting (AGM) for fiscal 2017-18 here.
Addressing the institutional and retail investors of the city-based defence behemoth, Madhavan said the company had posted consolidated net sales of Rs 18,624 crore for the fiscal under review.
"The company recorded the highest sales turnover of Rs 18,624 crore in fiscal 2017-18, as against Rs 18,553 crore in fiscal 2016-17, registering a 0.4 per cent annual growth despite challenges," said Madhavan.
The AGM was the first the company held with the participation of the retail shareholders after it went public in March, divesting 10.2 per cent of its equity holding to raise about Rs 1,400 crore.
The company's consolidated net profit for the fiscal, however, declined 21 per cent year-on-year (YoY) to Rs 2,073 crore from Rs 2,625 crore year ago.
Profit before tax also declined 7.5 per cent YoY to Rs 3,326 crore from Rs 3,592 crore year ago.
"We produced 40 aircraft and helicopters, including Sukhi-30 MKI fighters, Light Combat Aircraft (LCA) Tejas and Dornier Do-228 in fixed wing and Advanced Light Helicopter (ALH) Dhruv and Chetak choppers in rotary wing," said Madhavan.
The company also made 105 aero engines, overhauled 220 aircraft/copters and 550 engines during the last fiscal.
"We have also produced 146 aero-structures for the space programmes of the state-run Indian Space Research Organisation (ISRO) during the period," added Madhavan.
The company's scrip with Rs 10 face value lost Rs 44.10 per share on Friday's trading, ending at Rs 781.85 on the BSE against Thursday's closing rate of Rs 825.95 and opening price of Rs 818.
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Sri Rama Sene’s Ugadi wishes banner featuring PM Modi, Netanyahu in Belagavi goes viral, sparks row
Banner put up in response to earlier banners condemning killing of Khamenei in the city
A banner allegedly erected by Sri Rama Sene’s Belagavi unit, featuring Prime Minister Narendra Modi and Israeli Prime Minister Benjamin Netanyahu, has drawn criticism amid the ongoing tensions in the Middle East.
The banner featured an image of Prime Minister Narendra Modi alongside Israeli Prime Minister Benjamin Netanyahu, and also included a depiction of Chhatrapati Shivaji Maharaj during the killing of Afzal Khan.
The development comes at a time when the Strait of Hormuz is blocked and LPG shortages are being reported across several sectors in the country.
The banners were reportedly placed at Samrat Ashoka Circle in the city.
Several users on the social media platform ‘X’ criticised the poster.
Sriram Sena puts up Netanyahu banners in Belagavi opposing Khamenei posters pic.twitter.com/y5b8kGe09O
— All About Belgaum | Belagavi News (@allaboutbelgaum) March 16, 2026
One user wrote, “Does Sena know he has been convicted by the International Criminal Court?”
“If Iran learns about this, then you're done for,” another user said.
According to reports, the banners were erected in opposition to banners condemning the killing of Ali Khamenei that had appeared earlier in the city.
In an ‘X’ post, Sri Rama Sene Founder Pramod Muttalik, stated, “there was a call to remove the photo of Iran's Supreme Leader Khamenei in Belgaum. However, since the corporation did not remove it, today Chhatrapati Shivaji Maharaj is depicted as disemboweling Afzal Khan, and banners of the Israeli president and Modi were put up.”
ಬೆಳಗಾವಿಯಲ್ಲಿನ ಇರಾನ ಸರ್ವಾದಿಕಾರಿ ಖಮೇನಿ ಪೊಟೋ ತೆರವುಗಳಿಸಲು ಆಗ್ರಹಿಸಲಾಗಿತ್ತು. ಆದರೆ ಅಲ್ಲಿ ಕಾರ್ಪೊರೆಷನ ತೆರವುಗೊಳಿಸದ ಕಾರಣ ಇಂದು ಛತ್ರಪತಿಶಿವಾಜಿಮಹಾರಾಜರು ಅಫ್ಜಲ್ ಖಾನನ ಹೊಟ್ಟೆ ಹರಿದಿದ್ದು ಮತ್ತು ಇಸ್ರೆಲ ಅದ್ಯಕ್ಷ ಮತ್ತು ಮೋದಿ ಅವರಬ್ಯಾನರ ಹಾಕಲಾಯಿತು #Netanyahu #chhatrapatiShivajiMaharaj #Belgaum #PramodMutalik pic.twitter.com/GUlHv2QadU
— Pramod Mutalik Official (@PramodMuta39880) March 16, 2026
Meanwhile local reports suggest that such banners were placed in different parts of the city including RTO circle and Killa Circle.
When Varta Bharathi contacted Belagavi City Police Bhushan Gulabrao Borase, for a comment, he refused to comment on the matter.
