HFCL to Establish ₹230 Cr Defence Manufacturing Facility

HFCL Ltd's Board approved establishing a Defence Manufacturing Facility in Andhra Pradesh for Multi-Mode Hand Grenades (MMHG) and similar products, with an initial capital outlay of approximately ₹230 crore. This move aligns with India's 'Aatmanirbharta' initiative and HFCL's strategic expansion into the high-value defence sector, capitalizing on growth in domestic and global defence markets. The facility is expected to be completed by December 2027, financed through internal accruals, debt, or preferential issue of convertible warrants.