HAL received the “Most Efficient Navratna 2013″ award at the fifth Dalai Street Investment Journal Awards night held in New Delhi on 03 April 2014. The awards were presented to the various PSUs in different categories in recognition of their performance and contribution to the Indian economy. Mr. T.K.A. Nair, Advisor to PM and Dr. Pritam Singh, Director General of International Management Institute, New Delhi, addressed the top executives representing Maharatna, Navratna, Miniratna, government Insurance Companies and banks. HAL Chairman, Dr. R.K. Tyagi, who received the award from the jury, dedicated it to all HALites and said “We crossed the psychological barrier of Rs. 15,000 crores and the production has been pretty good as we produced 60 aircraft and helicopters, achieved the initial operational clearance (II) of LCA and filed record 209 patents during the year…”We are preparing the company for 2020 and beyond”, said Dr. Tyagi, adding that HAL’s Value of Production (VOP) for FY 2013-14, stood at Rs. 15,296 crores as against the figure of Rs. 14,202 crores of the previous year. The operating profit went up to Rs. 1,651 crores in the FY 2013-14 as against Rs. 1,194 crores in 2012-13.