Dues cleared, HAL cash position back in the black after two years

From having had to borrow to even pay salaries in 2018-19, defence PSU HAL’s cash position is back in the black with most dues from the three defence services — the PSU’s mainstay customers — having been cleared.

As on date, HAL has Rs 7,135 crore as cash holding compared to a negative of Rs 5,477 on March 31, 2020 and a negative of Rs 4,051 crore on March 31, 2019. When HAL first borrowed to pay salaries in the last quarter of 2018-19, the PSU had said its cash in hand was in the negative for the first in two to three decades and that it had borrowed Rs 1,000 crore. TOI was the first to report about HAL’s cash problems.