HMT, a public sector company is planning to foray into aerospace vertical and into manufacturing of weapons and missile components. The machine and tools maker company is currently making components for various weapons and this had prompted it to think of making weapons, mainly guns and rifles of various specifications. The company will held a discussion with Ministry of Defence in this regards.
Besides, the company is also eyeing a turnover of Rs 1,000 crore in the next five years. The company’s order book is full this year with orders worth Rs 260 crore. The company is also expecting another Rs 200 crore orders by end of March next year. Out of the received order worth Rs 260 crore, about Rs 90 crore worth orders are from the Defence sector. Further, the company is also keen to be associated with the proposed Kochi Metro project.
HMT manufactures engineering goods like machine tools, watches, tractors, printing machines, die casting and plastic processing machinery, metal forming presses and bearings. It manufactures Mechanical and Quartz Analog watches. The manufacture of wristwatches started as part of diversification strategy of HMT in the year 1962, under Technical collaboration with CITIZEN Watch Company of Japan with a manufacturing unit at Bangalore.
