The unique contract, signed on December 23, 2010, was valued at Rs 5,989.39 crore. Resulting from revisions within the supply schedule, the contract’s worth has now been up to date to Rs 6,542.20 crore.
In a regulatory submitting on Thursday, HAL confirmed, “We want to inform you that the corporate has signed at the moment an modification to the LCA Mk1 FOC Contract dated December 23, 2010. The worth of the contract has been revised from Rs 5,989.39 crore to Rs 6,542.20 crore, on account of revision within the supply schedule.”
This adjustment comes amid rising expectations for the Tejas jets to change into the spine of the IAF’s fleet within the coming years.
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Tejas Mk1A: India’s Indigenous Fighter Jet Takes Form
The Tejas plane, developed domestically, is a flexible fight platform. It’s primarily designed for air fight and offensive air help missions, with reconnaissance and anti-ship operations as secondary capabilities. The Tejas Mk1A, an upgraded variant, boasts state-of-the-art applied sciences, together with an Lively Electronically Scanned Array (AESA) Radar, Past Visible Vary (BVR) missile functionality, an Digital Warfare (EW) Suite, and Air-to-Air Refuelling (AAR).
This marks the primary “Purchase (Indian-Indigenously Designed, Developed, and Manufactured)” class procurement of fight plane. The indigenous content material at the moment stands at 50%, with plans to extend it to 60% by the programme’s completion. Out of the 344 methods fitted into the plane, 250 are sourced from Indian producers.
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GE Aerospace Delivers First Engine for Tejas Mk1A
A significant increase to the programme got here as American defence producer GE Aerospace delivered the primary of 99 F404-IN20 engines to HAL. This marks a key step in ramping up manufacturing and fulfilling India’s demand for superior fighter jets.
On Tuesday, GE Aerospace acknowledged, “We have been excited to ship the primary of 99 F404-IN20 engines to our valued buyer Hindustan Aeronautics Restricted (HAL) for the Tejas Mild Fight Plane Mk1A fighter jet. It is a crucial milestone in our 40-year relationship with HAL and in our efforts to make sure a powerful future for India’s army by creating next-generation fighters whereas enhancing the nation’s defence manufacturing capabilities.”
The F404-IN20 engine is particularly tailor-made for India’s single-engine fighter programme. It includes a high-thrust design, superior turbine blades, and a modified high-flow fan to satisfy the IAF’s operational wants. GE and HAL engineers have labored carefully for years to make sure the engine aligns with Tejas’ distinctive necessities.
Challenges and Delays in Supply
Regardless of the contract updates and the supply of the primary engine, the Tejas Mk1A programme has confronted delays. The Indian Defence Ministry had signed a Rs 48,000 crore deal in 2021 for 83 Tejas Mk1A jets, with deliveries initially scheduled to start in March 2024. Nevertheless, HAL has but to ship a single plane, citing project-related points.
Restarting the F404-IN20 manufacturing line after a five-year dormancy was no small feat, significantly throughout the COVID-19 pandemic. GE Aerospace famous, “Restarting a jet engine manufacturing line is a difficult course of. The pandemic added additional problems, however with a powerful concentrate on security and high quality, we managed to restart the road efficiently.”
With the availability of F404 engines now underway, HAL is predicted to speed up the manufacturing and supply of Tejas Mk1A fighters. The IAF is eager to induct these plane as a part of its long-term modernisation efforts.
HAL Q3 Earnings
Within the quarter ending December 2024, HAL reported a internet revenue of Rs 1,432.60 crore, a 14.28% enhance in comparison with Rs 1,253.51 crore in the identical interval final yr. The corporate’s income from operations additionally noticed a 15% rise, reaching Rs 6,956.93 crore.
HAL Shares Goal Worth
As per Trendlyne information, the common goal worth for the inventory is Rs 4,857, indicating an upside of 17% from present market costs. The consensus advice from 15 analysts for the inventory is a “Purchase.”
