2. HMT Limited, formerly Hindustan Machine
Tools Limited, is a state-owned manufacturing
company under the Ministry of Heavy Industries
and Public Enterprises
The company manufactures tractors, watches
under its watch division and industrial machines
and tools mainly under its Praga division
It has a work force of 2,806 with
manufacturing units located at Bangalore
3. 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.
