Latest news with #TejasMk-1A
India Today
14 hours ago
- Business
- India Today
After Air chief's rap on delays, HAL set to hand over Tejas Mk-1A this month
Days after Indian Air Force (IAF) chief Air Chief Marshal Amar Preet Singh voiced concern over repeated delays in defence projects, sources said Hindustan Aeronautics Ltd (HAL) is set to deliver the first Tejas Mk-1A fighter jet from its Nashik facility by the end of Nashik line is HAL's third Tejas production facility after two existing lines in Bengaluru, and is intended to accelerate the indigenous fighter jet programme that has fallen behind schedule due to multiple in the supply of F404 engines from US-based GE Aerospace have pushed the Tejas Mk-1A programme over a year past its original timeline. The Indian Air Force, which signed a Rs 48,000 crore contract in February 2021 for 83 Tejas Mk-1A jets, was originally slated to receive the first aircraft by March 31, 2024. 'The timeline is a big issue,' Air Chief Marshal Singh said last week at the CII Annual Business Summit 2025. 'So, once a timeline is given, not a single project that I can think of has been completed on time. So this is something we must look at. Why should we promise something which cannot be achieved? While signing the contract itself, sometimes we are sure that it is not going to come up, but we just sign the contract.'advertisementSingh's barbed remarks came nearly three months after he publicly rebuked HAL officials over persistent delays in Tejas Mk-1A deliveries. The Air Force has since urged HAL to expedite production and widen its private sector collaboration, particularly for key components like HAL line—Bengaluru and Nashik—has the capacity to produce up to eight aircraft per year, subject to engine flight trials are completed, the first Nashik-built Tejas Mk-1A will be formally handed over to the IAF, marking a key milestone in the indigenous fighter's production Air Force chief has stressed the importance of timely induction of new technologies into the military, especially in the context of rapidly evolving warfare paradigms involving drones and AI-enabled platforms.
India Today
4 days ago
- Business
- India Today
Tejas Mk-1A jet delivery deadline missed again: Here's how timeline unfolded
Amid growing concerns over delays in India's indigenous fighter jet programme, Air Chief Marshal Amar Preet Singh on Thursday urged the defence industry not to make promises it cannot deliver on time. Speaking at the Confederation of Indian Industry's Annual Business Summit 2025, the Air Force chief underscored that "timeline is a big issue" — a sharp reminder of the Indian Air Force's mounting frustration with Hindustan Aeronautics Limited (HAL) over the delayed delivery of Tejas Mk-1A fighter three months ago, the IAF chief had publicly voiced concern about the slippage in deadlines. On paper, HAL was to deliver the first of 83 LCA Mk-1A jets by March 31, 2024, under a Rs 48,000 crore deal signed in February 2021. That did not happen.A STALLED TIMELINEThe Tejas Mk-1A — a more advanced variant of the LCA Mk-1 — has faced persistent delays, largely due to late engine deliveries from GE Aerospace and protracted certification processes. The first F404-IN20 engine for the Mk-1A aircraft was delivered only in March 2025, nearly two years behind schedule. The delivery, part of a USD 716 million contract for 99 engines, was hailed as a 'milestone' by GE Aerospace's Combat & Trainer Engines General Manager Shawn Warren, who said it would "ensure a strong future for India's military". But for HAL, it was only the beginning of a race to recover lost PUSH AFTER ENGINE BOTTLENECKSadvertisementFollowing the arrival of the long-awaited engines, HAL has ramped up its production capacity by restructuring its Bengaluru facility and adding a parallel assembly line. The goal now is to deliver at least 16 Tejas Mk-1A jets annually, aiming to complete the 83-aircraft order by Chairman Dr DK Sunil had earlier assured that with engine supplies stabilising, the production of Mk-1A jets would gather pace. "We have now promised that we will have all the Mk-1A structures ready. Once the engines are available, the Mk-1As will start rolling out," he said at Aero India ORDERS IN PIPELINEDespite the initial hiccups, the IAF is gearing up to place a follow-on order for 97 more Mk-1A aircraft, estimated at Rs 67,000 crore, which would bring the total fleet size to 180. In parallel, a mega Rs 1.3 lakh crore deal for 156 Light Combat Helicopters (LCHs) for both the IAF and Indian Army is expected to be finalised within the next six has committed to delivering all 180 Tejas Mk-1A fighters by 2031, with a consolidated production capacity of 16 to 24 aircraft annually beginning delays come at a time when the IAF is retiring ageing aircraft like the MiG-21, MiG-27, and Jaguars, leaving its squadron strength critically depleted. Without the timely induction of Tejas Mk-1A, the gap between required and available fighters continues to widen — raising serious questions about India's aerial combat PANEL FORMEDadvertisementTo address these systemic delays, the Ministry of Defence had constituted a five-member Defence Empowerment Committee led by Defence Secretary Rajesh Kumar Singh. The committee recommended a slew of short, medium, and long-term solutions — including involving private players in the LCA production companies are now contributing critical components such as fuselages. Alpha Tocol Engineering Services Pvt Ltd recently handed over the first rear fuselage of the Mk-1A to HAL, with more scheduled to follow. Deliveries of the aircraft will now be streamlined across three separate HAL production lines.
Time of India
7 days ago
- Business
- Time of India
India's 5th-gen stealth jet: Centre paves way for private cos to enter the race to build AMCA
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Ministry of Defence has approved a new execution model for India's indigenous fifth-generation stealth fighter, the Advanced Medium Combat Aircraft (AMCA), opening the door for private sector participation alongside Hindustan Aeronautics Limited (HAL).This marks a significant development in the AMCA programme, which will now be open to competitive bidding. HAL—long the primary player in India's fighter manufacturing—can now bid either independently or in partnership with private companies may also bid independently, as a consortium, or in collaboration with foreign original equipment manufacturers (OEMs), provided they comply with Indian decision, cleared by Defence Minister Rajnath Singh, is intended to speed up prototype development and eventual production of the AMCA by drawing on the broader capabilities of India's aerospace Aeronautical Development Agency (ADA), under DRDO, will soon issue an expression of interest (EoI) for industry participation in the project's development is already engaged in manufacturing 180 Tejas Mk-1A jets and is also expected to handle production of 108 Tejas Mk-2 fighters, along with other aircraft and helicopter official told TOI that the AMCA bidding process 'will not be handed over on a nomination basis."The Indian Air Force is currently operating just 30 fighter squadrons against an authorised strength of 42.5. At least eight more squadrons are expected to retire over the next regional adversary Pakistan is expected to procure over 40 J-35A fifth-generation fighters from China, which is also developing sixth-generation prototypes like the Chengdu J-36 and Shenyang Cabinet Committee on Security had approved the AMCA's full-scale engineering development in March 2023 at a cost of over ₹15,000 crore. This includes five prototypes, one structural test specimen, and extensive flight IAF plans to induct seven squadrons (126 jets) of the twin-engine stealth aircraft, which will feature an internal weapons bay, serpentine air-intakes, advanced sensor fusion, AI-enabled systems, and netcentric warfare first two squadrons will use GE-F414 engines (98kN thrust class), while the remaining will shift to more powerful 110kN and General Electric are currently in advanced discussions for co-producing the GE-F414 engines in India with 80% technology transfer, valued at around $1.5 billion.
Time of India
19-05-2025
- Business
- Time of India
HAL shares eye crossing Rs 6,000 as analysts stay bullish despite Q4 profit dip — Should you buy, sell or hold?
Multiple brokerages reiterated bullish views on Hindustan Aeronautics Ltd (HAL), forecasting the stock to cross Rs 6,000 in the near term, following the company's March quarter results, where the state-run defence major reported a decline in both revenue and profit but managed to beat Street estimates. Shares of HAL fell as much as 3% on Monday to Rs 4,972.10 on the BSE. HAL reported a consolidated net profit of Rs 3,958 crore for the March quarter, down 8% from the previous year. However, the figure came in significantly higher than analyst estimates of Rs 2,592 crore. Revenue for the quarter declined by 7% year-on-year to Rs 13,700 crore. EBITDA was down 10% to Rs 5,292 crore, with margins narrowing by 140 basis points to 38.6%. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Esta es la nueva forma de alimentar a tu perro en 2025 DOGFYDIET Leer más Undo Despite the softness in headline numbers, HAL's management guided for 8–10% revenue growth in FY26 and said the forecast would be reviewed after six months. The company also indicated that double-digit revenue growth could be achieved even earlier, possibly within the current financial year. Over the next three to four years, HAL aims to maintain an adjusted EBITDA margin of 31%. Brokerages upbeat on long-term outlook Nuvama Institutional Equities has maintained a "buy" rating on HAL with a target price of Rs 6,000 — implying a potential upside of 20.7% from Monday's low. Live Events 'Hindustan Aeronautics reported a strong end to FY25 as it beat Street's Q4FY25 revenue/EBITDA estimate by 4%/42%,' Nuvama said. The brokerage highlighted the company's robust order inflows of Rs 1.2 lakh crore in FY25, taking the backlog to Rs 1.89 lakh crore. It added that a pipeline worth Rs 4.4 lakh crore, including orders for LCA Mk-IA, IMRH and AMCA, indicates sustained long-term growth. Nuvama has projected a revenue CAGR of 21% over FY25–27E, driven by a richer product mix and Rs 15,000 crore in capex over 4–5 years. It raised its FY26E/FY27E EPS by 6%/2% and increased HAL's valuation multiple to 40x from 35x. Motilal Oswal Financial Services also retained a "buy" call with a target of Rs 5,650, implying a 13.6% upside. 'We project its EBITDA margin to remain strong at 29.8%/28.6% for FY26/FY27, fueled by indigenization efforts,' the brokerage said. The brokerage said it expects PAT to grow at a CAGR of 14% over FY25–27, supported by annual capex of Rs 40–50 billion and healthy working capital. With improving fundamentals, Motilal expects return ratios to remain robust, projecting RoE and RoCE to reach 21.8% and 22.4% respectively by FY27. Antique Stock Broking has taken the most bullish stance, raising its target to Rs 6,545 from Rs 4,884 — a potential upside of 31.6%. 'HAL delivered a reasonably robust operational performance considering supply-side challenges from GE for the Tejas Mk-1A fighter aircraft,' it noted. The brokerage cited ongoing modernisation of India's armed forces and a favourable geopolitical backdrop as structural tailwinds for HAL. It now expects a 15% earnings CAGR over FY25–27E and has raised its FY26/FY27 earnings estimates by 20% and 34% respectively. Should you buy, sell or hold HAL stock? Despite a decline in Q4 earnings, HAL's ability to beat estimates, coupled with a robust order book and upbeat management guidance, has reinforced confidence among analysts. With target prices ranging from Rs 5,650 to Rs 6,545, brokerages see an upside of 13.6% to 31.6% from current levels. Also read | Defence stocks detonate in Rs 1.8 lakh crore boom. Is a ceasefire on the charts? ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
