ASIET S2 MBA 2014: Meera Varghese

Top three machine tool producing countries are China followed by Germany & Japan. Output from top three countries account for about 61% of 2014 total world production. China continues to be largest machine tool consuming country in the World which is talked about USD 31.7 billion worth of machine tools. On per capita consumption basis Switzerland, South Korea,Germany, Australia & Taiwan tops the list. Based on Gardner’s world machine tool consumption survey report, India ranks world 14th in production and 10th in consumption during 2014.

HMTheadquarted in Bengaluru,establishedKalamassery unit in 1964, with state-of-art technology as its key strength acquired from world leaders in machine tools, offers a wide array of high technology machine tools solutions to cater every manufacturing requirement.HMT is a state-owned manufacturing company under the Ministry of Heavy Industries and Public Enterprises in India.HMT Kalamassery is organized in to  nine departments & having 350 number of employees. The Trade unions in HMT are HMT Employees Union, HMT Workers Union, HMT Employee FederationCorporate vision of HMT is to become a company of International reputation, offering best of products& services with contemporary technologies forcustomer’s ultimate delight. Corporate mission of HMT is to achieve market leadership & win sustained growth. These departments   work together to achieve theircorporate goal becoming acompany ofRs.1000Cr. by 2020 withMiniratnastatus.Towards this the company has set its corporate objectives toachieve a growth above the industrial average of machine tool sector within 5 years, focus& aim for achieving positive gross margin in year 2013-14,to achieve sustained growth in the earnings of the company on behalf of shareholders focus on to achieve 80% capacity utilisation of facilities & resources by 2017-18 from present level of 61%.The HMT Kalamassery unit wants to achieve sales turnover of per employee from Rs.6.67 L (2011-12) to Rs. 26 L by2017-18.

HMT Kalamassery achieved Sales of Rs.159.02 Crore against Rs.213.01 Crore in the previous year. Net loss reported is Rs.52.66 Crore during the year 2013-14 against reported loss of Rs.43.65 Cr in previous year. Capacity utilization for the year 2013-14 is 53%.HMT Kalamassery has implemented the revival plan proposals and plant up-gradation. HMT Kalamassery is also pursuing with various agencies for extending the reliefs and concessions sanctioned by the BIFR under the Rehabilitation Scheme. Some of these parties including the consortium of banks have preferred appeals against the reliefs and concessions sanctioned by the BIFR, which is being contested by the HMT.