Some pointers on significant Mistral defence programs (which give both higher margins and longevity of the cycle):
LCA Tejas-
Margins – Company confirmed that once they have a design win, then they make higher margins in production orders. Also LCA has a 10 year+ production cycle. (Source: Q2 Fy 24 transcript)
Scale up of LCA Tejas – Under existing contracts, HAL is working on 16 aircraft per year. Post the new line at the Nashik facility, expected to come up by Oct’24, this will scale up to 24 aircrafts/year. In all, 180 aircrafts (2 orders 97 + 83) by 2032 – 33 (evidencing 10 year cycle).
Current delays due to delay in delivery of GE engines needs to be tracked.
Uttam radar – The first 20 Tejas Mk1 jets will feature Israeli AESA radar after which it will transition to Uttam radar from the 21st aircraft (sometime in 2026). LRDE is also working on using Uttam radar for Su-30 fleet.
Indigenous Uttam AESA Radar Set to enter Mass Scale Production. – Indian Defence Research Wing
Sukhoi upgrades
HAL has recently received clearance for upgrade of 84 Sukhoi 30 MKI fighter jets including avionics, Uttam AESA radar etc, expected to cost c. Rs 130-140 crs per aircraft. This program also has a long production cycle.
Super Sukhoi: Each HAL upgraded jets to costs 140 Cores – Indian Defence Research Wing
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