Hindustan Aeronautics Limited (HAL) Gets Maharatna Status
HAL is the 14th CPSU to join the big league of Public Sector Undertakings
Hindustan Aeronautics Limited (HAL), a key player in India’s aerospace and defense manufacturing sector, has officially been elevated to the prestigious Maharatna Central Public Sector Undertaking (CPSU) status as of October 12, 2024. This upgrade, approved by Finance Minister Nirmala Sitharaman, was announced by the Department of Public Enterprises through a post on X (formerly Twitter). The decision came after careful review by two high-level committees: the Inter-Ministerial Committee (IMC), led by the Finance Secretary, and the Apex Committee, chaired by the Cabinet Secretary, who evaluated HAL’s financial performance and strategic importance.
With this recognition, HAL becomes the 14th Maharatna PSU, joining an elite group of companies like BHEL, BPCL, Coal India, GAIL, HPCL, Indian Oil, NTPC, ONGC, Power Grid, SAIL, Oil India, REC, and PFC. The elevation to Maharatna status provides HAL with increased autonomy and financial independence, enabling it to make larger investments and pursue more expansive growth strategies.
HAL’s financial performance in 2023-24 played a key role in securing this status, with the company posting an annual turnover of ₹28,162 crore and a net profit of ₹7,595 crore. This recognition not only underscores HAL’s strategic role in India’s defense production but also enhances its ability to drive innovation and growth in the aerospace sector.
