HFCL Limited ('HFCL'), pursuant to the approval of its Board of Directors at its meeting held today, has undertaken a major strategic initiative to expand and strengthen its Defence business, in line with its long-term growth strategy and evolving opportunities in the Defence sector including in Aeronautics and Aerostructure segments. The Board has also approved the delivery and performance of a memorandum of understanding ('MOU') signed by and amongst HFCL, HFCL Advance Systems Private Limited ('HASPL'), a non material wholly owned subsidiary of HFCL, Mr. Anant Nahata, Mr. Sushant Mohan Gupta, Mrs. Shubhra Gupta, Spiral EHL Engineering Private Limited ('Spiral') and Defsys Solutions Private Limited ('Defsys').