Shares of Hindustan Aeronautics continued to gain for the third straight session as the company reported recording its highest ever in FY23.

What Happened: The defence manufacturer on Friday said that the company registered the highest-ever revenue from operations of around ₹26,500 crore (provisional and unaudited) for the Financial Year 2022-23. In FY22 the company’s revenue stood at around ₹24,620 crore.

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The order book of the Company stood at around ₹82,000 crore at the end of March 2023. During the year the public service enterprises received fresh contracts of around ₹26,000 crore. The company also said that its cash flow has improved substantially with payments of around ₹25,000 crore received from various Defence Customers during FY 2022-23. The company has also paid out interim dividends of ₹40/share this year.

The company’s performance was noticed and lauded by Prime Minister Narendra Modi who took to Twitter to congratulate the HAL team. “Exceptional! I laud the entire team of HAL for their remarkable zeal and passion,” Modi wrote in a tweet replying to HAL’s tweet about the numbers.

Price Action: HAL shares were up 0.99% to trade at ₹2,757.15 at market open on Monday.

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