As part of its strategy to achieve a turnover of Rs 3,000 crore in the next five years, state-owned HMT is planning to invest Rs 200 crore for expanding tractors capacity, engine production and roll out premium watches, as mentioned in a media report. The company also has sought, from the centre, Rs 450 crore worth package for debt restructuring and infusing money for capital expenditure.
As per proposed capex plan, the company intends to triple tractor manufacturing capacity from 10,000 units per annum to 30,000 units per annum in two years at its Pinjore plant. Further, it targets to achieve tractor sales of Rs 1,800 crore in next 5 years.
Moreover, the company also has firmed up plans to roll out premium range of watches for elite segment; it targets to clock sales of Rs 50 crore during next fiscal and Rs 450 crore in next five years from this segment. The price range of watches will be between Rs 2,500-Rs 15,000.
