The corresponding figure for the previous year stood at Rs 21,438 crore. The company has posted a revenue growth of around 6% in FY 2020-21 thanks to the improved productivity after suspending the operations for one month in the beginning of the year.

R. Madhavan, CMD, HAL, said that the year 2020-21 was significant in terms of securing the largest ever defence contract of 83 LCA MK-IA by an Indian company. This helped the company surpass the order book position in excess of Rs 80,000 crore. The record revenue was achieved with the help of production of 41 new helicopters/aircraft, 102 new engines, overhaul of 198 aircraft/helicopters and 506 engines, he added.

The company's cash flow position has improved significantly with improved budget allocation from defence customers and it stands in excess of Rs 34,000 crore including advance payment of around Rs 5,400 crore for 83 LCA MK1A contract. This helped HAL to liquidate all its borrowings availed from the banks.

The company has ended the year with a positive cash balance of around Rs 6,700 crore as against borrowings of Rs. 5,775 crore as on 31 March 2020.

HAL has taken various cost cutting and austerity measures during the year that include indigenisation of various components, increasing outsourcing efforts and rationalisation of manpower which is expected to facilitate the Company to register a double digit growth in the Profit After Tax (PAT).

Considering the anticipated growth in profits, HAL paid an interim dividend of Rs 30 per share during the current financial year representing 300% on the face value of Rs 10 per share.

HAL is engaged in carrying out design, development, manufacture, repair and overhaul of aircraft, helicopter, engines and related systems like avionics, instruments and accessories primarily serving Indian defence programme.

On a consolidated basis, the company reported 85.3% jump in net profit to Rs 853.46 crore on 21.8% rise in revenue from operations to Rs 5,425.46 crore in Q3 FY21 over Q3 FY20.