HAL gets ‘Maharatna’ status
The Government of India has given ‘Maharatna’ status to PSU company Hindustan Aeronautics Limited (HAL). With this, HAL has become the 14th company in India to get ‘Maharatna’ status. The Department of Public Enterprises shared this information by sharing a post on the social media platform X.
DPE said that Finance Minister Nirmala Sitharaman has approved the upgrade of Indian PSU company HAL to the 14th Maharatna CPSE. This proposal was earlier recommended by the Inter Ministerial Committee (IMC) headed by the Finance Secretary and the Apex Committee headed by the Cabinet Secretary.
Hon’ble Finance Minister has approved the upgradation of Hindustan Aeronautics Limited (HAL) to 14th #Maharatna CPSE. The proposal has earlier been recommended by Inter-Ministerial Committee (IMC) headed by Finance Secretary and Apex Committee headed by Cabinet Secretary. HAL is… pic.twitter.com/xBR18okU74
— Department of Public Enterprises (@DPE_GoI) October 12, 2024
Company’s annual turnover is Rs 28,162 crore
HAL is a CPSE (Central Public Sector Enterprises) of the Department of Defense Production (DoDP). The company has an annual turnover of Rs 28,162 crore and a net profit of Rs 7,595 crore in the financial year 2023-24.
What are the benefits to HAL after getting Maharatna status?
After getting Maharatna status, HAL will have autonomy, higher investment capability and strategic flexibility. Now HAL can invest up to ₹5,000 crore or 15% of its net worth in a project without any government approval.
Like any other Maharatna company, HAL will have the freedom to do mergers, acquisitions and strategic investments at domestic and international level.
HAL gave a return of 125% in a year
HAL’s stock closed 0.94% down at Rs 4,440 on Friday. Its stock has given a return of 22% in the last 6 months and 125.56% in a year. Talking about only this year i.e. from January 1 till now, the company has given a return of 57.09%. The market cap of the company is Rs 2.97 lakh crore.
