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HMT Ltd

NSE: HMT BSE: 500191

₹43.01

(-1.13%)

Tue, 17 Feb 2026, 11:32 pm

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Company History

1953

  • The Company was incorporated in Bangalore.

1961

  • The Watch Factory at Bangalore had two operating divisions, the Watch Factory Division and the Horological Machinery Division.
  • The Watch Factory at Srinagar was set up for the manufacture of 3 lakh hand winding watches.

1963

  • The HMT in Pinjore had two operating divisions, the Machine Tool Division and the Tractor Division.

1964

  • The Two operating divisions attached to HMT, Kalamassery, were the Machine Tool Division and the Printing Machine Division.

1965

  • The HMT at Hyderabad had three operating divisions, the Machine Tool Division, the Press Division, and the Lamp Division.

1975

  • The HMT at Ajmer was set up by the Government of India as the unit of Machine Tool Corporation of India, Ltd and merged with HMT.

1976

  • The manufacture of critical components like hair spring and main spring were taken up by the Watch Factory Division at Bangalore.
  • Collaboration agreements were concluded with the Cross Company, M/s Creusot-Loire, M/s Laeis-Werke AG, and M/s Tesa SA.
  • HMT International Ltd, a wholly owned subsidiary of the Company, was established.

1977

  • All shares were issued to the Government of India.
  • The Company was converted into a Public Limited Company on May 13.

1978

  • The Company undertook a scheme to expand the capacity of the Watch Factory.
  • The Government approved a total investment of Rs 24.50 crores in the watch factory to be established at Tumkur.
  • The Company undertook to set up a project for the manufacture of 4 million fluorescent tubes per annum.
  • The Company undertook to diversify into the field of precision meterological and measuring instruments.
  • The Company undertook to set up a factory in Aurangabad for the manufacture of dairy machinery.
  • The Company submitted a feasibility report to the Government for the manufacture of electronic watches.
  • The Company concluded a MOU with Hitachi and Citizen of Japan.
  • The Company offered technical collaboration to Industrial and Commercial Development Corporation of Kenya.
  • The Company entered into an agreement with the Federal Government of Nigeria to set up a plant for the manufacture of machine tools.
  • The name of the Company was changed from Hindustan Machine Tools, Ltd to HMT Ltd.

1979

  • All shares were issued to the Government of India.

1980

  • The Company entered into a collaboration agreement with Pegard S.A. of Belgium.

1981

  • The Company proposed to manufacture silver oxide miniature batteries in collaboration with Hitachi-Moxcell Ltd, Japan.
  • The Company received an industrial licence for the production of one million stepper motors.
  • The subsidiary formerly known as Indo Nippon Precision Bearings Ltd changed its name to HMT Bearing Ltd.

1993

  • Two new brands, Ramani and Utsav, were launched for gents and ladies watches.
  • Equity shares were subdivided and 504,19,400 shares were issued to the Government of India.

1995

  • All shares were issued to the Government of India.

1996

  • The Company decided to convert the Lamp Division into a separate wholly owned subsidiary.

1997

  • Production suffered due to slowdown in the economy and stiff competition from imported machines.
  • The Tractors Group launched a 45 HP Coastal Special model tractor.
  • A 59 HP model tractor with Power Steering was launched.
  • The Orchard Special model tractor in 25 HP range was developed and under test marketing.
  • A modernisation cum expansion plan for the Tractor division was chalked out.
  • The entire networth of the subsidiary was eroded and a reference was made to BIFR as a sick company.
  • HMT introduced three new models of watches, HMT 3022, HMT 3522, and HMT 4511 coastal special.
  • The machine tools division entered into a joint working arrangement with MS Giana, Italy, for the manufacture of heavy duty CNC lathes.
  • HMT signed a memorandum of understanding with the Union government to increase its turnover and post a net profit.

1998

  • HMT International Ltd bagged a Rs 13-crore order for setting up an Entrepreneur Technical Development Centre in Senegal.
  • The company launched 15 new models in the automatic day/date range.
  • HMT would issue 41,25,000 ordinary shares of Rs 10 each to the government.
  • The company entered into a manufacturing and marketing alliance with Tennmax Industrial Ltd of Hong Kong.
  • HMT was named as one of the top ten brands in India by a recent survey.
  • The company proposed to convert 30% of the loan component into equity.
  • An MoU was signed between the Government and HMT delegating power to HMT to sanction schemes for incentives cum rewards.
  • HMT International Ltd entered into a strategic alliance with A1-pha data LLC of Abu Dhabi.
  • The Government made a fresh bid to privatise HMT Tractors.
  • HMT introduced three new models of tractors with fuel-efficient engines and heavy-duty transmission.

1999

  • The Industry Ministry directed the state-owned Hindustan Machine Tools to explore possibilities of joint venture formation for its watch division.
  • The company tied up with Tennmax of Hong Kong and marketed the HMT-Tennmax brand in India.
  • HMT signed an MoU for setting up a watch assembly unit in Zimbabwe.
  • The shareholders of Hindustan Machine Tools Ltd approved a proposal to increase the company's authorised share capital to Rs 200 crores.

2000

  • Icra assigned an LAAA (SO) rating and an MAAA (SO) rating to the Hindustan Machine Tools bonds.
  • HMT International Ltd was awarded the EEPC trophy for its achievements in export of technical services.

2001

  • The HMT 4922 tractor was launched at a ceremony organised at Pinjore, Chandigarh.

2002

  • Mr R A Sharma relinquished the charge of Chairman and Managing Director, Tractor, upon resignation.
  • Mr M S Zahed took additional charge of the post of Chairman and Managing Director, Tractor of the Company.

2003

  • Shri M S Zahed was appointed as Chairman and Managing Director of the Company.
  • HMT entered into a Memorandum of Understanding with PNB, UCO Bank, and State Bank of Mysore to promote agriculture mechanisation in south India.
  • Shri Naresh Chaturvedi was appointed as a part-time official Director on the Board of Directors.
  • Shri Navin Kumar was appointed as Part Time Official Director on the Board of Directors of the company.

2004

  • The equity shares of the Company were delisted from the Bangalore Stock Exchange Limited.
  • HMT signed an agreement with UK-based Trantor for high power tractors.
  • HMT entered into a Technology Collaboration Agreement with Trantor Vehicles Ltd, UK.
  • HMT signed an MoU with State Bank of India for tractor finance.

2005

  • HMT signed an agreement with ONGC and MRPL.
  • HMT was in dialogue with a Japanese company for an MUV.

2006

  • Shri R Asokan was appointed as Part-time Official Director on the Board of the Company.
  • HMT International Limited would set up Indo-Zimbabwe Technology Centre in Harare and India Technology Centre in Bulawayo.
  • A high tech Engine Emission Testing Laboratory was established in R&D Centre at Tractor Division, Pinjore.

2007

  • Shri N Gokulram was appointed as Part-time Official Director on the Board of the Company.
  • Dr Surajit Mitra was appointed as Part-time Official Director on the Board of the Company.

2008

  • Shri B S Meena was appointed as Part-time Official Director on the Board of HMT Limited.
  • Shri S Behuria was appointed as Part-time Official Director on the Board of HMT Limited.
  • Shri S G Sridhar was appointed as Director (Operations) on the Board of the Company.

2010

  • Shri Harbhajan Singh was appointed as Part-time Official Director on the Board of the Company.

2011

  • Shri S G Sridhar was appointed as Chairman and Managing Director of the Company.

2012

  • Dr Vijay Shankar Madan was appointed as Part-time Official Director on the Board of the Company.

2013

  • Shri S Girish Kumar was assigned additional charge of the post of Chairman and Managing Director of HMT Limited.

2014

  • Shri Subash B K was assigned as Company Secretary and Compliance Officer of the Company.

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