HMT Limited
 |
| File:Hindustan Machine Tools Logo.gif | |
| Company type | Public Sector Undertaking |
|---|---|
| Industry | Engineering |
| Founded | 1953 |
| Defunct | 2017 |
| Headquarters | Bangalore India |
Key people | Girish Kumar (Chairman and Managing Director) |
| Products | Machine tools, printing machines, tractors |
| Website | HMT Limited
 |
HMT Limited, formerly Hindustan Machine Tools Limited, is a state-owned manufacturing company under the Ministry of Heavy Industries and Public Enterprises in India.[1] The company mainly manufactures industrial machines and tools with a work force of around 2,500 under its six manufacturing units situated at Bangalore (Mother unit), Kochi, Hyderabad (2 units), Pinjore and Ajmer[2] To back up sales and service HMT Machine Tool marketing is spread across India serving Defence, Government, Private manufacturing Industries and Educational Institutions.[3]
History
Hindustan Machine Tools was incorporated in 1953 by the Government of India as a machine tool manufacturing company. Over the years, HMT diversified into watches, tractors, printing machinery, metal forming presses, die casting and plastic processing machinery, and CNC systems and bearings. HMT is headquartered at Bengaluru (Bangalore).
Technology was absorbed in all product groups through collaborations with world-renowned manufacturers and further strengthened by continuous in-house R&D.
Today, HMT consists of six subsidiaries under the ambit of a holding company, which also manages the tractor business directly.
HMT Limited took over Praga Tools Limited as one of its subsidiaries 1988.[4] Praga Tools Limited was established in May 1943 as Praga Tools Corporation Limited to manufacture machine tools with its headquarters at Secunderabad. It was renamed as Praga Tools Limited in 1963. It is mainly involved in manufacture of machine tools, including CNC machines.
Watch division
In the year 1961, HMT set up a watch manufacturing Unit at Bangalore in collaboration with M/s Citizen Watch Co., Japan. The first batch of Hand Wound Wrist Watches manufactured here was released by the then Prime Minister of India, Jawaharlal Nehru. The most popular mechanical hand-wound watch is HMT Janata. There are also other mechanical watches like HMT Pilot, HMT Jhalak (Semi Skeletal), HMT Sona, HMT Braille.
In 1972, HMT expanded its watch manufacturing capacity with a set up alongside the Bangalore Factory to manufacture additional watches. In 1975, Watch factory at Bangalore was further expanded to manufacture Main Spring, Hair spring and Shock absorber components.[5]
HMT set up additional manufacturing facilities to produce watch components sets at Tumkur and Ranibagh in the year 1978 and 1985 respectively. Watch factory at Tumkur was partially converted to manufacture Quartz Analog Watches in collaboration with M/S Citizen Watch Co, Japan. To cater to the Niche market, a specialised watch case manufacturing facility was set up at Bangalore in 1983.[5]
Since 1985, HMT Watches had been involved in making Floral Clocks, Solar Clocks, International Clocks and Tower Clocks, most popular among them being the Garden clock in Bangalore. In the year 2000, HMT Watch Business group was re-structured as HMT Watches Limited, a wholly owned subsidiary of HMT Limited.[5] In September 2014, the Government of India decided to shut down HMT operations in a phased manner.
Closure
In September 2016, Government of India closed some divisions of HMT: HMT Watches Ltd, HMT Bearings, HMT Tractors, and HMT Chinar Watches Ltd. The main reasons were that the company was making losses for more than a decade. During 2012-13, the company had losses of Rs 242 crore on revenues of only Rs 11 crore. In contrast, competitor Titan's watch business reported sales of Rs 1,675 crore during the same year. The government also tried restructuring it in 1999 to improve its finances but the company continued to make losses. While in the 1980s several new companies entered the market with newer designs and more modern production techniques, HMT is said to have been hobbled by slow decision making and was unable to compete.[6] Machine tools divisions of HMT in Bangalore, Hyderabad and Kochi (Kalamassery) are still operational and catering industrial and defense sectors of India and abroad.
Operating units
HMT Limited had 18 manufacturing units. The constituent subsidiaries are given below while the holding company retains the tractors business group.
HMT's tractor business commenced its operations in 1971 in technical collaboration with M/s MOTOKOV, Czechoslovakia. HMT started the operation with the manufacture of 25 HP tractor at the manufacturing plant in Pinjore, Haryana state. Over the years, it has developed tractors ranging from 25 HP to 75 HP.
Machine tools divisions of HMT is still continuing its operations and introducing state of the art technologies in Indian industrial market. The Kalamassery unit has entered manufacturing equipments for Indian Naval defence sector by manufacturing Directing Gear systems.[7][8]
References
- ^ "Links to the websites of Central Public Sector Enterprises under Department of Heavy Industry". Department of Heavy Industry. Archived from the original on 21 May 2012. Retrieved 3 May 2012.
{{cite web}}: Unknown parameter|deadurl=ignored (|url-status=suggested) (help) - ^ http://www.pragatools.org/machines.html
- ^ "HMT Ltd gets 136 Crore Government Loan to revive its operations". IANS. news.biharprabha.com. Retrieved 28 February 2014.
- ^ "Taskforce on HMT-Praga Tools merger". The Hindu Business Line. 23 November 2005. Retrieved 3 January 2011.
- ^ a b c http://www.hmtwatches.in/9/about-us/history.html
- ^ "Time up: HMT Watches to wind down after 53 years". Retrieved 5 July 2017.
- ^ "HMT to make more hi-tech sub-systems for the Navy". The Hindu. Retrieved 21 July 2017.
- ^ "HMT all set to cement its position in defence production". The Hindu. Retrieved 21 July 2017.
- Watchmaking conglomerates
- Economy of Karnataka
- Companies listed on the Bombay Stock Exchange
- Government-owned companies of India
- Tractor manufacturers of India
- Industries in Hyderabad, India
- Machine tool builders
- Manufacturing companies based in Bangalore
- Indian companies established in 1953
- Watch movement manufacturers
- Watch manufacturing companies of India
- Indian brands