India’s Pawan Hans Limited (PHL) has been in the news recently for its inability to pay salaries on time to employees, and before that, for being on the list of Public Sector Units the government wanted to sell off.
Despite a failed effort at disinvestment, the helicopter hire company, which mainly serves India’s oil exploration sector and select routes in the North East where fixed-wing aircraft find it difficult to function, remains ‘robust’.
PHL, which clocked Rs 20-crore net profit in FY18, has as on March 31, 2018, some Rs 253 crore non-current liabilities, including Rs 202-crore deferred income tax liabilities and loans of Rs 19 crore. It had another Rs 210 crore in current liabilities.
