Singh said that as and when required the HAL borrows from banks to meet its working capital requirements.
The HAL has concrete orders to manufacture Su30 MKI, Light Combat Aircraft Tejas, Dornier, Advanced Light Helicopter, Chetak, Cheetal helicopters among others and defence services have paid the aerospace major Rs 8,140 crore in the last six months, Defence Minister Rajnath Singh said June 24. Arrears of Rs 868.14 crore are outstanding with Hindustan Aeronautics Limited for its contractors, he said.
"The present capacity available in HAL is adequate to fulfil the existing orders, projects in hand. Currently, HAL has firm orders to manufacture platforms like Su-30 MKI, LCA, DO-228 (Dornier), ALH, Chetak and Cheetal helicopters," Singh in a written response to a question in the Rajya Sabha.
He said that as and when required the HAL borrows from banks to meet its working capital requirements.
Just before the polls, the Congress had launched an offensive against the government alleging that Dassault Aviation, the makers of Rafale fighter jet, overlooked the PSU and gave the offset contract to another private company.
The issue also reverberated during the Lok Sabha polls.
Earlier this year, the aviation major was forced to borrow Rs 1,000 crore to pay salaries to its employees for the first time in years.
Last month, HAL has posted an all-time high turnover of Rs 19,705 crore, registering a growth of 7.8 per cent in 2018-19.Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.
