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.