- Business
- HMT Limited (BSE: HMT.BO) manufactures and sells a range of engineering products including watches under the HMT brand, machine tools such as CNC machines and special purpose machines, industrial bearings and components, and precision engineering items like railway truck axles and locomotive components; the company also provides after-sales services, repair and maintenance for machine tools, and turnkey projects in areas like defense and railway equipment. Founded in 1953 and headquartered in Bangalore, India, HMT operates primarily in the engineering and consumer durables sectors, serving domestic markets in India with a focus on government and industrial customers across power, steel, cement, defense, railways, and aviation industries. The company maintains subsidiaries such as HMT Watches Limited, HMT Machine Tools Limited, and HMT Bearings Limited, all under the administrative control of the Ministry of Heavy Industries, Government of India. In recent developments, HMT has pursued strategic expansions including the revival of its watchmaking division with new quartz and mechanical models launched in collaboration with Japanese technology partners; it secured a major order for 1,500 CNC machine tools from the defense sector in 2024 and announced plans for a new precision manufacturing facility in Hyderabad to boost railway component production. Additionally, HMT formed a joint venture with a leading European firm for advanced bearing technology in late 2024, enhancing its industrial offerings amid government initiatives for domestic manufacturing under Atmanirbhar Bharat.