Archive · 20 Nov 2025
L&T's Defence Revenue Hits $1 Billion; HAL's Transformation & Growth
Larsen & Toubro Ltd.
(L&T) is expected to reach $1 billion in defence revenue this year, thanks to the Indian government's push for localisation.
Hindustan Aeronautics Limited (HAL), a state-owned defence company, has seen significant growth and transformation in recent years, with a strong order book and increasing export revenue.
India's defence spending is set to increase in the coming years, with a focus on indigenous systems and stronger deterrence platforms.
Larsen & Toubro Ltd. (L&T) expects its defence business revenue to reach $1 billion this fiscal year, driven by the government's localisation push
HAL's revenue stands at ₹32,105 crore with a profit of ₹8,469 crore, operating margins over 20%, and zero debt
HAL's order book is over ₹2.5 lakh crore, with a significant portion coming from the Tejas Mk1A program
HAL's export revenue has started increasing, with a focus on Southeast Asian and African markets
India's defence spending is expected to reach $130 billion over the next seven years, with a focus on indigenous systems and stronger deterrence platforms
- Who
- Larsen & Toubro Ltd. (L&T) and Hindustan Aeronautics Limited (HAL)
- What
- L&T's defence revenue and HAL's growth and transformation
- When
- L&T's defence revenue in the current fiscal year, HAL's transformation over the past decade
- Where
- India
- Why
- India's defence modernisation push and increased spending
Private Defence Companies
State-Owned Defence Companies
Localisation Push
Private Defence Companies
Private companies like L&T, Tata Group, Adani Group, and Mahindra & Mahindra have seen their defence revenue grow, benefiting from the government's localisation push
State-Owned Defence Companies
State-owned companies like HAL, BEL, and Mazagon Dock have also seen growth and are well-positioned to benefit from increased defence spending
- HAL Revenue
- ₹32,105 crore
- HAL Profit
- ₹8,469 crore
- HAL Operating Margin
- Over 20%
