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Motilal Oswal's research report on Hindustan Aeronautics

Hindustan Aeronautics (HAL) has received the follow-on order of 97 light combat aircraft (LCA) Mk1A worth INR624b from the Ministry of Defence (MoD). This is in addition to the previous order of 83 Tejas LCA Mk1A received in Jan’21. GE has now overcome the supply chain issues it was facing previously and resumed normal deliveries of the F404 engines, and we expect aircraft deliveries to accelerate in the coming quarters. With the contract for 97 additional jets now signed, we expect the related order of USD1b for 113 new F404 engines with GE to be finalized too in a few weeks.

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