HFCL Expands Defence Business, Unifies Aerostructures, Radar, TWS Under HASPL
HFCL Limited is expanding its defence business by consolidating Aerostructures, Aeronautics, Radar, and Thermal Weapon Sight (TWS) capabilities under its subsidiary, HASPL. This initiative includes acquiring Spiral EHL Engineering and HFCL's stakes in Raddef and its TWS business. The new entity boasts a ₹1,570 crore export order book. Transaction agreements are expected by May 31, 2026.
The consolidation of multiple defence business segments, including high-value areas like Aerostructures and Aeronautics, along with a significant order book, is expected to have a material impact on HFCL's future revenue and market position in the defence sector.
The announcement details a significant strategic expansion into the defence sector, creating a unified platform with a substantial export order book, indicating positive future growth prospects.
HFCL Limited has announced a significant strategic initiative to expand and strengthen its Defence business by establishing a unified platform under its subsidiary, HFCL Advance Systems Private Limited (HASPL). This consolidation aims to integrate capabilities in Aerostructures, Aeronautics, Radar Systems, and Thermal Weapon Sight (TWS) solutions.
As part of this strategic move, HASPL will acquire 100% stake in Spiral EHL Engineering Limited, which in turn will acquire the Aerostructure and Aeronautics business of Defsys Solutions Private Limited. HASPL will also acquire HFCL's 80% stake in Raddef Private Limited, a radar technology company, and HFCL's existing Thermal Weapon Sight (TWS) business.
The new entity, HASPL, will have a confirmed export order book of approximately ₹1,570 crore and a domestic order book of ₹110 crore. The company's board has approved an investment not exceeding ₹175 crore into HASPL. The acquisition of Spiral will be for a cash consideration not exceeding ₹25 crore, the acquisition of 80% stake in Raddef will be for a cash consideration not exceeding ₹75 crore, and the acquisition of the TWS business will be for a cash consideration not exceeding ₹50 crore. Additionally, Spiral will acquire the Aeronautics and Aerospace business of Defsys for a cash consideration not exceeding ₹25 crore.
The transaction agreements are expected to be executed on or before May 31, 2026, with financial closing anticipated within the current calendar year.
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