THE govt may have decided to shut down
the sick PSU HMT, but HMT Machine Tools Kalamassery has achieved
record sales and production for the year 2014-15. The company has
reported an unaudited net profit of Rs 52 lakh for the financial
year. The sales grew by 31 per cent to Rs 73.69 crore and production
value increased by 19 per cent to Rs 67.67 crore compared to last
fiscal.
This is the fourth successive...
year in
which the unit makes profits. HMT Kalamassery has also exceeded the
sales target of Rs 70 crore set for 2014-15, a statement from HMT
said. CM Bidar has taken charge as general manager of the company
from April 1 this year.
“HMT Kalamassery unit had exceeded
sales target during 2011-12 and 2012-13 also. The company has also
successfully diversified into design, manufacture and supply of
equipments required for Defence sector, particularly Naval Ships.
With the active support from Defence Research Organisation, NPOL
Kochi and Defence PSU BEL Bangalore, the unit could bag three orders
for directing gears for Sonar Equipment for Myanmar Navy and the last
one is slated for completion within another two months,” the statement noted.
“These units are the first of their
kind ever manufactured in India. The company is expecting more orders
for similar equipment for other Naval Ships from India and abroad,”
the statement further said.
The Machine Tools subsidiary, under the
ministry of heavy idustries, is head-quartered at Bangalore and
initially had five manufacturing units located at Bangalore
(Karnataka), Kalamassery (Kerala), Hyderabad (Andhra Pradesh), Ajmer
(Rajastan) and Pinjore (Haryana). Later, Praga Tools Limited (PTL),
Hyderabad, which was another subsidiary of HMT Limited, was merged
with HMT Machine Tools Limited (HMTMTL), and became the sixth
manufacturing unit of the latter. These units are named as MBX, MTK, MTH, MTA, MTP, PTH.
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