MoneyWorks4Me

HMT Ltd (HMT)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500191 NSE: HMT Engineering - Industrial Equipments | Small Cap | HMT Share Price

₹60 0.63 (1.06%)

As on 29-Sep'26 16:59

HMT Ltd (HMT)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500191 NSE: HMT Engineering - Industrial Equipments | Small Cap | HMT Share Price

₹60 0.63 (1.06%)

As on 29-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹2,134 Cr.
Current Price
₹60
52-Week Low / High
₹41 / 73
TTM EPS
₹-3.7
TTM Sales
₹147 Cr.
Book Value per Share
₹-57.9
P/E Ratio
0.00
Lower than its 5-year historical median
Industry PE
59
Price to Book (P/B)
-1.04
Lower than its 5-year historical median
Price to Sales (P/S)
14.51
Lower than its 5-year historical median
EV/EBITDA
-52.62
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
0.00%
Underperforms industry median
Return on Capital Employed (ROCE)
0.00%
Underperforms industry median
Return on Assets (ROA)
-25.06%
Operating Profit Margin
-86.9%
Net Profit Margin
-99.23%
Gross Profit Margin
-92%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-45.38%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
93.69%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹-2,414 Cr.
Equity
₹355.6 Cr.
Face Value
₹10
All Time Low / High
₹3.35 / 163.50

HMT stock performance

Key Ratios
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Check Before You Invest

Valuation

Somewhat Undervalued

Price Trend

Semi Strong
Q.1 Is HMT Ltd a good quality company?
HMT Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does HMT Ltd performance compare with that of its Peers?
Q.1 Revenue growth of HMT Ltd vs industry peers?
HMT Ltd revenue CAGR is -11.35%, compared to the industry median CAGR of 0.00%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of HMT Ltd?
Promoters hold 93.69% of the HMT Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of HMT Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 4.9% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
HMT Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % ⓘ1%-42.7%5.2%6.9%34.2%4.7%4.3%1.4%1.6%1.7%-
Value Creation
Index ⓘ
-0.9-4.1-0.6-0.51.4-0.7-0.7-0.9-0.9-0.9-

Growth Parameters ⓘ

Sales ⓘ46.223.316.12126.423.512.651.647.926.225
Sales YoY Gr.--49.6%-30.7%30.5%25.3%-11%-46.4%310.1%-7.1%-45.4%-
Adj EPS ⓘ-0.1-0.900.31.90.81.10.20.70.50.5
YoY Gr.-NANA675%516.1%-59.7%39%-83.2%283.3%-34.8%-
BVPS (₹) ⓘ2.80.90.83.310.210.91212.212.913.414.2
Adj Net
Profit ⓘ
-17.1-1035.311.26827.438.26.524.416.116
Cash Flow from Ops. ⓘ615-366-84.8-11.5-300-7.2-54.4112-16-35.5-
Debt/CF from Ops. ⓘ0.3-1.4-7.1-56.6-2.2-93.8-12.56.1-42.6-19.2-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘ-6.1%-0.1%27.7%-45.4%
Adj EPS ⓘNA-25.1%-25.1%-34.8%
BVPSⓘ18.9%5.7%3.6%3.6%
Share Price 5% 15.8% 9.2% 1.6%

Key Financial Parameters ⓘ

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ
-2.5-46.85.310.328.47.39.41.55.53.53.3
Op. Profit
Mgn % ⓘ
-224.8-523.1-106-127.7-97.6-63.7-168-61.9-67.4-146.5-151.6
Net Profit
Mgn % ⓘ
-37.1-443.833.253.2257.911730412.65161.665.3
Debt to
Equity ⓘ
0.54.865.51.81.71.61.61.51.4-
Working Cap
Days ⓘ
2,7851,0581,1141,9123,3765,08911,2403,0013,2036,2514,106
Cash Conv.
Cycle ⓘ
3204114133181571343051169960-1,052

Valuation of HMT - Consolidated

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

YTD 1Y 3Y 5Y 10Y Max
mw4me loader

mw4me loader

Analyst's Notes

data not found
No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales287218197265263205178208166144
Operating Expenses ⓘ + 521481317382351275286302277269
Manufacturing Costs56524546343327475048
Material Costs10579656811696891188366
Employee Cost 2921991531251209895777662
Other Costs ⓘ 6915153143814875606893
Operating Profit ⓘ -234-263-120-116-87-70-107-94-110-125
Operating Profit Margin (%) -81.4%-120.0%-60.6%-43.9%-33.1%-34.4%-60.3%-45.2%-66.3%-86.9%
Other Income ⓘ + 15115510490795647555462
Exceptional Items ⓘ -107-367-1828926800100
Interest ⓘ 747510696918474696870
Depreciation ⓘ 14131211111010987
Profit Before Tax ⓘ -278-562-151156157-108-145-117-133-140
Tax ⓘ 0-18-011408-33
Profit After Tax -279-544-151155156-112-145-125-130-143
PAT Margin (%) -96.9%-249.0%-76.6%58.6%59.2%-54.9%-81.4%-60.1%-78.2%-99.2%
Adjusted EPS (₹)-2.3-4.5-1.34.44.4-3.115.0-3.571.7-4.0
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + -4,257-4,798-4,894-4,751-4,604-4,714-4,180-4,303-1,752-1,898
Share Capital ⓘ 1,204.091,204.091,204.09355.60355.60355.60355.60355.60355.60355.60
Reserves ⓘ -5,461-6,002-6,098-5,107-4,959-5,069-4,536-4,659-2,108-2,253
Debt +2514704042501465432433939
Long Term Debt196435373231122180000
Short Term Debt55343119243632433939
Minority Interest-1-1-1-0-0-00000
Trade Payables848573100114103888210386
Others Liabilities ⓘ 4,7594,9115,0375,1195,0705,2454,7064,8782,2192,306
Total Liabilities ⓘ 836668619718726688646700609533

Fixed Assets

Net Fixed Assets ⓘ +88736356645751423430
Gross Block500478457456472471474466463465
Accumulated Depreciation412406394400408414423424428435
CWIP ⓘ 791115767032
Investments ⓘ 2553300000
Inventories17614413016818917214311811697
Trade Receivables10096105166151169155186134124
Cash Equivalents flag ⓘ 360246230238205190136255247206
Others Assets ⓘ 10496767110894154997574
Total Assets ⓘ 836668619718726688646700609533
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity ⓘ + -117-661-108-48-269-71-50103-847-46
PBT ⓘ -278-562-151215185-105533-1153,398-140
Adjustment ⓘ 575866-195-18766-59076-3,47161
Changes in Working Capital ⓘ 105-175-22-13-231-31121477337
Tax Paid ⓘ -018-1-55-37-1-5-5-847-4
Cash Flow From Investing Activity ⓘ + -158298188-2745-28-4830
Capex -5-1-1286258-1-4-5-4-2
Net Investments 0001-83-3341-36-5916
Others ⓘ 569111378131516
Cash Flow From Financing Activity ⓘ + 35454184-241-357-74828-7
Net Proceeds from Shares ⓘ 0000000000
Net Proceeds from Borrowing ⓘ 00000001000
Interest Paid ⓘ 5-24-11-38-42-5-4-7-6-7
Dividend Paid ⓘ 0000000000
Others ⓘ 34956695-203712-3-0834-0
Net Cash Flow ⓘ 236-115-168-116-92-1379-67-24
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
ROCE (%)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Asset Turnover Ratio0.420.320.320.40.360.290.270.310.250.25
PAT to CFO Conversion(x)N/AN/AN/A-0.31-1.72N/AN/AN/AN/AN/A
Working Capital Days
Receivable Days123.40149.70178.60186.80219.80284.80331.50299.80351327
Inventory Days211.10243.70243205.60247.70322.10322.50229.20256.50269.20
Payable Days247.80378436.20443321.90408.60391.70263406.70524.10

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Announcements

HMT Ltd FAQs

The current trading price of HMT on 29-Sep-2026 16:59 is ₹60.00.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Sep-2026 the market cap of HMT stood at ₹2,133.6 Cr

The latest P/E ratio of HMT as of 28-Sep-2026 is 130.4.

The latest P/B ratio of HMT as of 28-Sep-2026 is 4.24.

The 52-week high of HMT is ₹72.50 and the 52-week low is ₹41.00.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of HMT is ₹25.04 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that HMT Ltd is a below average quality company.

The key valuation ratios of HMT Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of HMT Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

About HMT Ltd

HMT is a Central Public Sector Enterprise of the Government of India, under the Department of Heavy Industry, Ministry of Heavy Industries. The company was incorporated as ‘Hindustan Machine Tools’ at Bengaluru on February 07, 1953, and popularly known as ‘HMT’. Having established technology leadership by providing reliable solutions to the major strategic sectors of the country through supply of appropriate goods and services, and thereby ‘Driving Growth through Technology’, HMT has been the flagship of India’s industrial progress since independence. HMT is a Holding Company with two operative subsidiaries viz. HMT Machine Tools and HMT (International), while the businesses of Food Processing Machinery and Watches are directly managed by the company. 

Businesses of the company:

HMT Machine Tools, in addition to general purpose and multipurpose CNC Machine Tools, has been providing a host of special purpose and specific technology machines to meet the requirements of the strategic sectors like Defence, Railways, Nuclear, Space, Aerospace, Naval, Auto etc. several of which are import substitute machines and machines which are under technology denial by developed countries. 

HMT (International) incorporated in 1974 as a wholly owned subsidiary of the HMT, to cater to the export markets of HMT’s products, has also implemented several turnkey engineering projects in various countries and has created a niche in setup of Vocational Training Centres, Entrepreneurial Training Centres, Skill Development Centres, etc. on turnkey basis.

HMT Food Processing Machinery manufactures a wide variety of Dairy Machines including Pasteurizers, Homogenizers, Cream Separators, Continuous Butter Making Machines, Centrifugal Pumps, Plate Heat Exchangers for dairy & non-dairy applications, Oil Purification and Clarification system, Milk / Oil Separator, Chillers / IPHE etc. It also undertakes setting up of Dairy Plants on Turnkey basis.

HMT Auxiliary Business Division caters to the auxiliary businesses of HMT including assembly and sale of HMT Watches, sale of HMT Tractor spares, etc., as well as undertakes projects and services in addition to the management of HMT Townships in Bengaluru and Pinjore. 

Business area of the company 

The company, a Central Public Sector Enterprise of the Government of India, is engaged in the manufacturing of Food Processing Machineries. It is also engaged in sale of watches.

Awards/ achievements

  • 1960-61: Outstanding Performance by President of India
  • 1961-62: Outstanding Performance by President of India
  • 1970-71: Excellence Performance in Exports by Govt. of Mysore
  • 1971-72: Outstanding Export Performance by Govt. of Mysore
  • 1971-72: Outstanding Export Performance by EEPC
  • 1975-76: National Award for Outstanding Export Performance by Ministry of Commerce
  • 1978-79: Best Product at IMTEX - 79 by PMT & FIE
  • 1981-82: Best Product at IMTEX - 82 by FIE Foundation
  • 1982-83: Export Excellence by EEPC
  • 1982-83: Meritorious Performance in the field of Export by Ministry of Commerce
  • 1983: Best Corporate Performance by Harvard Business School Association of India & Economic Times
  • 1983-84: Most Effective Organisation by Foundation for Organisation Research (FORE)
  • 1983-84: Best Productivity by Organisation Research (FORE)
  • 1983-84: Export Excellence by EEPC
  • 1984-85: Best Productivity by National Productivity Council
  • 1984-85: Export Excellence by EEPC
  • 1984-85: Meritorious Performance in the field of Export by Ministry of Commerce
  • 1985-86: Best Product at IMTEX – 86 by CMTI - PMT Trust
  • 1985-86: Best Product at IMTEX - 86 by FIE Foundation
  • 1985-86: Best Productivity by National Productivity Council
  • 1985-86: Export Excellence by EEPC
  • 1986-87: Export Excellence by EEPC
  • 1986-87: Excellence in Productivity by CEI
  • 1986-87: Best Productivity by National Productivity Council
  • 1987-88: Export Excellence by EEPC
  • 1987-88: Best Productivity by National Productivity Council
  • 1988-89: Company Standards by Bureau of Indian Standards
  • 1988-89: Best Product at IMTEX – 89 by CMTI - PMT Trust
  • 1988-89: Best Product at IMTEX – 89 by FIE Foundation
  • 1988-89: Outstanding Performance in Industrial Safety by National Safety Council
  • 1988-89: Best Productivity by National Productivity Council
  • 1988-89: Best Company for HRD Practices by CEI
  • 1990: National Award for R&D Efforts in Industry - 1990 in the Mechanical Industrial Sector by Dept. of Scientific and Industrial Research
  • 1990-91: Best Productivity by National Productivity Council
  • 1990-91: Tech. Development for Machine Tools, Bangalore by Directorate General of Technical Development
  • 1991-92: Best Productivity by National Productivity Council
  • 1992: National Safety by National Safety Council
  • 1994: Best Performance in Company Standardisation by Sir Jahangir Ghandy Trophy
  • 1995: Best Products at IMTEX - 95 by CMTI - PMT Trust Award
  • 1995: Best Product at IMTEX - 95 by FIE Foundation
  • 1995-96: Regional 'Top Exporters Shield' by Engineering Export Promotion Council, Chennai
  • 1996-97: Regional 'Top Exporters Shield -Project Exporters' by Engineering Export Promotion Council, Chennai
  • 1997-98: All India Trophy for Highest Exporters by Engineering Export Promotion Council, Kolkata
  • 1998: Best Product at IMTEX – 98 by FIE Foundation
  • 1998: Best Products at IMTEX - 98 by CMTI - PMT Trust Award
  • 1998-99: Regional Trophy for Highest Exporters in the Group  - Services Exporter by Engineering Export Promotion Council, Southern Region, Chennai
  • 2001: Best Product at IMTEX – 2001 by FIE Foundation
  • 2001: Best Products at IMTEX – 2001 by CMTI - PMT Trust Award
  • 2025:HMT (International) Limited received 54th EEPC India National Awards in thecategory- Project Exports (Large Enterprise).

Milestones

1949:

  • HMT was conceived by the Government of India in 1949

1953:

  • The company was incorporated, with the objective of producing a limited range of machine tools, required for building an industrial edifice for the country. 

The 1960’s:

  • With the success achieved in the initial years in absorbing the technology and in attaining production competence far ahead of the original plans, the Company launched a bold plan of diversification and expansion which resulted in the duplication of the Bangalore Unit and the setting up of new units at Pinjore, Kalamassery and Hyderabad.
  • In 1967, recession struck the Indian Engineering Industry and the consumption of machine tools dipped drastically. The traumatic years of recession did indeed serve to bring to the fore two latent strengths of HMT, namely, the urge to survive and the confidence to innovate. With these strengths at full play, the Company emerged from the recession:
  • With the world’s widest range of machine tools and associated services under a single corporate entity.
  • With action plans firmly launched for diversification into Tractors, Presses and Press Brakes, Printing Machines, Die Casting and Plastic Injection Moulding Machines, Horological Machinery, etc., which were considered to have economic cycles that are different from those of machine tools. 
  • With a Watch Factory already established in 1961-62, additional capacities for watch production were contemplated to provide a greater cushion against cyclical fluctuations in capital goods markets and also to meet the burgeoning demand for watches.
  • With export markets of enormous potential under active development.

The 1970’s:

  • The 70s witnessed the fructification of all the diversification plans as envisaged.  HMT setup 
  • HMT International Limited as a subsidiary company to channel HMT’s products and technical services abroad.  
  • Two more units for manufacture of Watches, one at Srinagar and one at Tumkur 
  • HMT took over Machine Tool Corporation at Ajmer as its sixth machine tool unit.

The 1980’s:

  • In the 80s, HMT as a part of vertical integration efforts, launched units to manufacture- Watches at Ranibagh, Watch Cases at Bangalore, Stepper Motors at Tumkur, CNC Systems at Bangalore, Ball screws for use on CNC machines at Bangalore etc.
  • HMT took over Indo-Nippon Precision Bearings Ltd, a state-owned unit as a subsidiary, which was renamed HMT-Bearings Ltd. 
  • HMT took over Praga Tools Ltd as another subsidiary.
The 1990’s:

  • The Company restructured itself into five Business Groups viz., Machine Tools, Watches, Tractors, Industrial Machinery and Engineering Components as part of Business Reorganisation. 
  • The New Millennium
  • HMT is restructured with addition of three more subsidiaries to those already existing. HMT comprises of six subsidiaries under the ambit of the Holding Company which also manages the Tractors business directly. HMT Machine Tools Limited, Bangalore; HMT Watches Limited, Bangalore; HMT Chinar Watches Limited, Jammu; HMT Bearings Limited, Hyderabad; Praga Tools Limited, Hyderabad; HMT (International) Limited, Bangalore
  • The strategic plans of the HMT group are coordinated by the holding company at Bangalore. To navigate through the challenges of the new millennium, HMT seeks strategic alliances from global leaders to synergies its own strengths with symbiotic inputs from the partners. For us, the whole world of opportunities is ahead to emerge as a global engineering conglomerate.
2019:

  • Recorded an increase in turnover over the previous year, as per the provisional and unaudited figures and achieved the targets of production and sales set for the year 2018-19.

2020:

  • HMT’s Auxiliary Business Division has now completed the setup of a Watch Assembly Line and has also received the Industrial license.

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