Owen79097529716 at 19:53, 18 February 2026

2026-02-18T19:53:29Z

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{{Short description|Indian State-owned electronics company}}
{{Use Indian English|date=January 2019}}
{{Use dmy dates|date=February 2017}}
{{Infobox company
| name = HMT Limited
| logo = HMT.svg
| logo_size = 250px
| logo_alt =
| logo_caption =
| image =
| image_size =
| image_alt =
| image_caption =
| trading_name =
| former_name = Hindustan Machine Tools Limited
| type = [[Public company|Public]]
| traded_as = {{BSE|500191}} {{NSE|HMT}}
| industry = {{plainlist|
*[[Electronics]]
*[[Engineering]]}}
| fate =
| successor = 
| founded = {{Start date and age|1953|02|07|df=yes}}<ref name="Annual Report" />
| founder = [[Government of India]]
| defunct = 
| hq_location = 59, Bellary Road
| hq_location_city = [[Bangalore]], [[Karnataka]]
| hq_location_country = India
| num_locations =
| num_locations_year = 
| area_served = 
| key_people = S. Girish Kumar (Chairman & MD)<ref>{{Cite web |title=Organisation |url=http://www.hmtindia.com/html/frame.asp?page=organisation.htm |website=HMT Limited |access-date=28 January 2019 |archive-date=13 August 2012 |archive-url=https://web.archive.org/web/20120813214504/http://www.hmtindia.com/html/frame.asp?page=organisation.htm |url-status=dead }}</ref>
| products = {{ubl|Machine tools|Printing machinery|Food processing machinery|Watches|Tractors|Bearings<ref name="Products">{{Cite web |title=Our Products |url=http://www.hmtindia.com/html/frame.asp?page=hmtsproducts.htm |website=HMT Limited |access-date=28 January 2019 |archive-date=13 August 2012 |archive-url=https://web.archive.org/web/20120813214349/http://www.hmtindia.com/html/frame.asp?page=hmtsproducts.htm |url-status=dead }}</ref>}}
| production =
| production_year = 
| services =
| revenue = {{increase}} {{INRConvert|32.10|c}}
| revenue_year = 2018
| operating_income = {{increase}} {{INRConvert|3.67|c}}
| income_year = 2018
| net_income = {{increase}} {{INRConvert|-7.164|c}}
| net_income_year = 2018
| assets = {{decrease}} {{INRConvert|1323|c}}
| assets_year = 2023
| equity = {{decrease}} {{INRConvert|100.29|c}}
| equity_year = 2018
| owner = [[Government of India]] (93.68%)<ref>{{cite news |title=10 stocks where Indian government owns at least 90% stake - In Focus |url=https://economictimes.indiatimes.com/markets/stocks/news/10-stocks-where-indian-government-owns-at-least-90-stake/hmt/slideshow/95650149.cms |access-date=9 February 2023 |work=The Economic Times}}</ref>
| num_employees = 1,742<ref name="Annual Report">{{Cite web |title=Annual Report 2017–18 |url=http://www.hmtindia.com/2018/HMT_Annual_Report_final.pdf |archive-url=https://web.archive.org/web/20190129082753/http://www.hmtindia.com/2018/HMT_Annual_Report_final.pdf |url-status=dead |archive-date=29 January 2019 |website=HMT Limited |access-date=28 January 2019 }}</ref>
| num_employees_year = 2018
| parent =
| divisions =
| subsid = {{blist|HMT Machine Tools Limited (100%)|HMT International Limited (100%)|Praga Tools Limited (51%)|''Closed subsidiaries:''|HMT Watches Limited (100%)|HMT Chinar Watches Limited (100%)|HMT Bearings Limited (97.25%)<ref name="Subsidiaries" />}}
| module = 
| website = {{URL|http://www.hmtindia.com}}
| footnotes =
}}

'''HMT Limited''', formerly '''Hindustan Machine Tools Limited''', is an Indian [[Public sector undertakings in India|state-owned]] [[electronics company]] under the control of the [[Ministry of Heavy Industries]], [[Government of India]].<ref>{{Cite web |url = http://dhi.nic.in/psewebsite.aspx |title = Links to the websites of Central Public Sector Enterprises under Department of Heavy Industry |publisher = Department of Heavy Industry |access-date = 3 May 2012 |url-status = dead |archive-url =https://web.archive.org/web/20120521142626/http://dhi.nic.in/psewebsite.aspx |archive-date = 21 May 2012 |df = dmy-all}}</ref> It was founded in 1953 as a machine tool manufacturing company, diversifying into [[Watch|watches]], [[tractor]]s, [[Printer (computing)|printing machinery]], [[Sheet Metal Forming|metal forming]] presses, [[Casting|die casting]] and [[Plastic forming machine|plastic processing machinery]], and [[Computer numerical control|CNC systems]] and bearings. HMT is headquartered at [[Bangalore]].

The watch making division, HMT Watches, opened in 1961. During the 1970s and 1980s HMT was the largest supplier of wrist watches in India, with popular styles including Janata and Pilot. The division closed in 2016, largely due to mismanagement leading to heavy losses.<ref>{{Cite news |last1=Rao |first1=Mohit M. |title=Clock stops ticking at HMT |url=https://www.thehindu.com/news/cities/bangalore/Clock-stops-ticking-at-HMT/article14213394.ece |website=The Hindu |access-date=28 January 2019 |language=en-IN |date=1 April 2016}}</ref><ref name="hmt1">{{Cite news |last1=Manchanda |first1=Anil |title=Why HMT Watches stopped ticking |url=https://www.thehindubusinessline.com/opinion/why-hmt-watches-stopped-ticking/article8130642.ece |access-date=20 December 2018 |publisher=Hindu Businessline |date=20 January 2016}}</ref> In the same year, the Government of India also shut down HMT Chinar Watches Ltd., HMT Bearings, and HMT Tractors. HMT Machine Tools Limited still manufactures industrial machines and tools with a work force of around 2,500 in six manufacturing units situated at [[Bangalore]] (Mother unit), [[Kochi]], [[Hyderabad]] (2 units), [[Pinjore]] and [[Ajmer]].<ref>{{Cite web |url=http://www.pragatools.org/machines.html |title=P r a g a T o o l s – Machines |website=www.pragatools.org |url-status=usurped |archive-url=https://web.archive.org/web/20020206083131/http://www.pragatools.org/machines.html |archive-date=2002-02-06}}</ref> These mostly serve India's [[Defence industry of India|defence]], government and educational institutions.<ref>{{Cite web|title=HMT Ltd gets 136 Crore Government Loan to revive its operations|url=http://news.biharprabha.com/2014/02/hmt-ltd-gets-136-crore-government-loan-to-revive-its-operations/|work=IANS|publisher=news.biharprabha.com|access-date=28 February 2014}}</ref>

HMT's wholly owned subsidiaries include HMT Machine Tools Limited and HMT International Limited. HMT also holds a majority stake in Praga Tools Limited (51%).<ref name="Subsidiaries">{{Cite web |title=Holding Company |url=http://www.hmtindia.com/html/frame.asp?page=hmt-holdingcompany.htm |website=HMT Limited |access-date=28 January 2019 |archive-date=4 August 2020 |archive-url=https://web.archive.org/web/20200804221338/http://www.hmtindia.com/html/frame.asp?page=hmt-holdingcompany.htm |url-status=dead }}</ref>

== 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, [[Sheet Metal Forming|metal forming]] presses, [[Casting|die casting]] and plastic processing machinery, and CNC systems and bearings. HMT is headquartered in [[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.<ref>{{Cite web|url=http://www.thehindubusinessline.com/2005/11/23/stories/2005112302070201.htm |title=Taskforce on HMT-Praga Tools merger |publisher=The Hindu Business Line |date=23 November 2005 |access-date=3 January 2011}}</ref> 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 the manufacturing of machine tools, including CNC machines.

=== Watch division ===
[[File:HMT Janata.jpg|thumb|HMT Janata]]

HMT set up a watch manufacturing factory in Bangalore in collaboration with [[Citizen Watch]], a Japanese company, in 1961. The first batch of mechanical (hand wound) wrist watches manufactured here was released by the then [[Prime Minister of India]], [[Jawaharlal Nehru]]. The most popular mechanical watch was HMT Janata. Other mechanical watch styles included HMT Pilot, HMT Jhalak (Semi Skeletal), HMT Sona, HMT Braille, HMT Sujata, HMT Rajat.

In 1972, HMT expanded its watch manufacturing capacity with a set up alongside the Bangalore Factory to manufacture additional watches. In 1975, the watch factory at Bangalore was further expanded to manufacture main spring, hair spring and shock absorber components.<ref name="hmt">{{Cite web |url=http://www.hmtwatches.in/9/about-us/history.html |title=History | HMT Watches |access-date=4 November 2013 |archive-url=https://web.archive.org/web/20131105142632/http://www.hmtwatches.in/9/about-us/history.html |archive-date=5 November 2013 |url-status=dead }}</ref> HMT set up additional manufacturing facilities to produce watch components sets at Tumkur in 1978 and at Ranibagh in 1985. The factory at Tumkur was partially converted to manufacture quartz analog watches in collaboration with Citizen. To cater to the niche market, a specialised watch case manufacturing facility was set up at Bangalore in 1983.<ref name=hmt />

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 at Lal Bagh in Bangalore. In the year 2000, HMT Watch Business group was re-structured as HMT Watches Limited, a wholly owned subsidiary of HMT Limited.<ref name=hmt />

In September 2014, the Government of India shut down HMT operations in a phased manner. By late 2016, the website for HMT watches was taken down.<ref>{{Cite web| url = https://www.deccanherald.com/business/economy-business/hmt-making-a-switch-in-time-788516.html| title = HMT: Making a switch in time {{!}} Deccan Herald| date = 25 December 2019}}</ref>

=== Closure of HMT Watches Division ===
In September 2016, the 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 ₹242 [[crore]] on revenues of only ₹11 crore. In contrast, competitor [[Titan Company|Titan]]'s watch business reported sales of ₹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.<ref>{{Cite news|title=Time up: HMT Watches to wind down after 53 years|url=http://timesofindia.indiatimes.com/business/india-business/Time-up-HMT-Watches-to-wind-down-after-53-years/articleshow/42296223.cms|access-date=5 July 2017}}</ref> Machine tools divisions of HMT in Bangalore, Hyderabad and Kochi (Kalamassery) are still operational and catering industrial and defence sectors of India and abroad. The Government of India is mulling takeover of HMT by [[Ordnance Factory Board]].<ref>{{Cite news|last=Upadhyay|first=Vineet|title=HMT reopens plant to make last batch of watches|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/cons-products/durables/hmt-reopens-plant-to-make-last-batch-of-watches/articleshow/50402414.cms |date=2016-01-01|access-date=2022-10-19}}</ref><ref>{{Cite news|last=Sharma|first=Shantanu Nandan|title=Three HMT firms may be a test case for shuttering more loss-making, non-strategic PSUs|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/indl-goods/svs/engineering/three-hmt-firms-may-be-a-test-case-for-shuttering-more-loss-making-non-strategic-psus/articleshow/48406531.cms |date=2015-08-09|access-date=2022-10-19}}</ref>

== Operating units ==
[[File:HMT 1811 tractor, Pondicherry.jpg|thumb|HMT 1811 tractor]]

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 [[Zetor]] through a licensing deal with Motokov, the export trading arm of [[Czechoslovakia]].<ref name=Zhist>{{cite web | url = https://zetor75.com/ | archive-url = https://web.archive.org/web/20211128074743/https://zetor75.com/ | archive-date = 2021-11-28 | title = Zetor 75 years: 1971 | publisher = Zetor s.r.o. }}</ref> HMT started the operation with the manufacture of the 25 [[Horsepower|HP]] Zetor 2511 [[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 Kochi unit has entered manufacturing equipments for Indian Naval defence sector by manufacturing Directing Gear systems.<ref>{{Cite news|url=http://www.thehindu.com/todays-paper/tp-national/tp-kerala/hmt-to-make-more-hitech-subsystems-for-the-navy/article6385230.ece|title=HMT to make more hi-tech sub-systems for the Navy|work=The Hindu|access-date=2017-07-21|language=en}}</ref><ref>{{Cite news|url=http://www.thehindu.com/todays-paper/tp-national/tp-kerala/hmt-all-set-to-cement-its-position-in-defence-production/article6750727.ece|title=HMT all set to cement its position in defence production|work=The Hindu|access-date=2017-07-21|language=en}}</ref>
{| class="wikitable"
|+ HMT Milestones
|-
|1953 || Machine Tools I ||Bengaluru ||Karnataka
|-
|1961 || Machine Tools II ||Bengaluru ||Karnataka
|-
|1962 || Watch Factory I ||Bengaluru ||Karnataka
|-
|1963 || Machine Tools III ||Pinjore ||Haryana
|-
|1965 || Machine Tools IV ||Kalamassery ||Kerala
|-
|1967 || Machine Tools V ||Hyderabad || Andhra Pradesh
|-
|1971 || Tractor Division ||Pinjore ||Haryana
|-
|1971 || Die Casting Division ||Bengaluru ||Karnataka
|-
|1972 || Printing Machinery Division ||Kalamassery ||Kerala
|-
|1972 || Watch Factory II ||Bengaluru ||Karnataka
|-
|1973 || Precision Machinery Division ||Bengaluru ||Karnataka
|-
|1975 || Machine Tools VI ||Ajmer ||Rajasthan
|-
|1975 || HMT (International) Ltd. ||Bengaluru ||Karnataka
|-
|1975 || Watch Factory III ||Srinagar ||Jammu & Kashmir
|-
|1978 || Watch Factory IV ||Tumkur ||Karnataka
|-
|1981 || HMT Bearings Limited ||Hyderabad ||Telangana
|-
|1981 || Quartz Analog Watches ||Bengaluru ||Karnataka
|-
|1982 || Watch Factory V ||Ranibagh ||Uttar Pradesh
|-
|1982 ||Specialised Watch Case Division || Bengaluru ||Karnataka
|-
|1983 || Stepper Motor Division ||Tumkur ||Karnataka
|-
|1985 || Ball Screw Division ||Bengaluru ||Karnataka
|-
|1986 || CNC Systems Division ||Bengaluru ||Karnataka
|-
|1991 || Central Re-conditioning Division ||Bengaluru ||Karnataka
|}

== References ==
{{Reflist}}

{{Public Sector Undertakings in India}}

{{Authority control}}

[[Category:Watchmaking conglomerates]]
[[Category:Government-owned companies of India]]
[[Category:Machine tool builders]]
[[Category:Manufacturing companies based in Bengaluru]]
[[Category:Indian companies established in 1953]]
[[Category:Watch movement manufacturers]]
[[Category:Watch manufacturing companies of India]]
[[Category:Indian brands]]
[[Category:1953 establishments in Mysore State]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:Tractor manufacturers of India]]

HMT Limited - Revision history

Owen79097529716 at 19:53, 18 February 2026