Hindustan Machine Tools
Corporate Details

Hindustan Machine Tools is a public sector undertaking of the Government of India. In 1953, the latter incorporated the machine tool manufacturing company by the name of Hindustan Machine Tools Limited. HMT as a brand is popular among the masses as a premium watch making company. However, since its very inception, HMT Limited is into a lot of other things as well.

Activities

Over the years HMT, (as Hindustan Machine Tools is popularly known) has diversified into watches,tractors,printing machinery,metal forming presses,die casting & plastic processing machinery, CNC systems and bearings. HMT has also been successful in absorbing technology in all product groups by collaborating with recognized manufacturers from all over the world. Moreover, Hindustan Machine Tools has also evolved through continuous in-house Research and Development (R & D). Today, HMT has six subsidiary companies under its supervision namely:

HMT Machine Tools Limited

HMT Watches Limited

HMT Chinar Watches Limited

HMT International Limited

HMT Bearings Limited

Praga Tools Limited As a holding company, HMT Ltd. manages the tractors business directly and entirely as it does with the 1st four companies of the following list. In case of the last two, HMT enjoys a holding percentage of 97.25 and 51 respectively. Besides, Hindustan Machine Tools Limited has 18 manufacturing units. HMT’s tractor business commenced its operations in 1971 in technical collaboration with M/s Motokov of Czechoslovakia. HMT started the operation with the manufacture of 25 horse-power tractor at the manufacturing plant in Pinjore,Haryana.

Performance

The following results can be witnessed in the annual general report of Hindustan Machine Tools for the year ended March, 2006:

Turnover – INR 54.1 billion

Net Profit – INR 1.3 billion

Total Valuation of Assets -INR 104.73 billion On April, 2006, it was officially announced that HMT Watches, the most popular brand of HMT Ltd. In the urban sector, had reduced its losses by more than 50 %. The absolute reduction in losses was from INR 13.45 billion in 2004-05 to INR 7.47 billion in the following year. Meanwhile, the HMT Group recorded a growth of over 9 % at INR 54.1 billion.

Organization

Hindustan Machine Tools is headed by M.S. Zahed who is the Chairman and Managing Director.

Contact details of head office of HMT Limited

Address: HMT Bhawan,
59, Bellary Road,
Bangalore -560032.
Phone: 91-80-2333 9060
Fax: 91-80-2333 9048