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HMT - HMT

📊 NSE: HMT 🏢 Engineering 📅 Last Updated: 12/14/2025 7:47

📢 Recent Corporate Announcements

HMT Appoints Ms. Nigar Fatima Husain as Government Nominee Director

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 27 Apr 2026, 08:41 PM

HMT Limited has appointed Ms. Nigar Fatima Husain as a Government Nominee Director effective April 27, 2026. She succeeds Shri. Asit Gopal on the board following a directive from the Ministry of Heavy Industries. Ms. Husain is a 1996 batch Indian Defence Estates Service Officer currently serving as Additional Secretary & Financial Advisor. This is a routine administrative change common in Public Sector Undertakings (PSUs).

Ms. Nigar Fatima Husain appointed as Government Nominee Director effective April 27, 2026
She replaces Shri. Asit Gopal, SS&FA, on the Board of Directors
The appointee is a 1996 batch Indian Defence Estates Service Officer with an LLB and Post-Graduation in Sociology
She currently holds the position of Additional Secretary & Financial Advisor in the Ministry of Heavy Industries

💡 This is a routine regulatory and administrative update for a PSU; no immediate action is required from investors. Continue to monitor the company's operational turnaround and financial performance.

HMT Ltd: Independent Director Dr. Kartik Chandulal Bhadra to Step Down on March 28, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 27 Mar 2026, 07:57 PM

HMT Limited has notified the exchanges regarding the cessation of Dr. Kartik Chandulal Bhadra from his role as a Non-Official Independent Director. The transition is scheduled for March 28, 2026, coinciding with the completion of his tenure. This move is a standard regulatory requirement under SEBI (LODR) Regulations, 2015. No material reasons or disagreements were cited, as the departure is strictly due to the expiry of the term.

Dr. Kartik Chandulal Bhadra's cessation as Independent Director is effective from March 28, 2026.
The reason for the change is the completion of his term as a Non-Official Independent Director.
The disclosure complies with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

💡 This is a routine administrative update regarding board composition. Investors need not take any specific action but may watch for the appointment of a new independent director to ensure board compliance.

HMT Appoints BHEL's N Ramesh Kumar as Chairman & Managing Director (Additional Charge)

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 25 Mar 2026, 09:16 PM

HMT Limited has announced the appointment of Shri N Ramesh Kumar as Chairman & Managing Director (Additional Charge) effective March 25, 2026. Mr. Kumar currently serves as an Executive Director at BHEL and brings over 35 years of industry experience to the role. The appointment is for a period of one year or until a regular incumbent is appointed, as per the Ministry of Heavy Industries' directive. His extensive background in advanced technologies and strategic planning at BHEL may influence HMT's operational direction during his tenure.

Shri N Ramesh Kumar assumes the CMD role (Additional Charge) for a 1-year term starting March 25, 2026.
The appointee is a BITS Pilani alumnus with over 35 years of experience in the engineering and electronics sectors.
His previous roles at BHEL involved significant work in Solar Power, Rail Transportation (Vande Bharat sets), and Gas Turbine Controls.
The appointment is subject to ex-post facto approval from the Appointments Committee of the Cabinet (ACC).

💡 Investors should monitor if this leadership change leads to any strategic collaborations between HMT and BHEL, though as an 'additional charge' appointment, major policy shifts are unlikely.

HMT Appoints BHEL's N Ramesh Kumar as CMD (Additional Charge) for One Year

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 24 Mar 2026, 09:53 PM

HMT Limited has announced that Shri. N Ramesh Kumar, currently Executive Director at BHEL, has been appointed as the Chairman and Managing Director (Additional Charge) of the company. The appointment is effective from March 25, 2026, following an order from the Ministry of Heavy Industries. This leadership arrangement is slated for a period of one year or until a regular incumbent is appointed. The appointment is subject to final approval from the Appointment Committee of the Cabinet (ACC).

Shri. N Ramesh Kumar to take additional charge as CMD effective March 25, 2026
Appointment duration is for one year or until a regular incumbent joins
Mr. Kumar is currently the Executive Director (SBD) at Bharat Heavy Electricals Limited (BHEL)
The move follows a Ministry of Heavy Industries order dated March 24, 2026

💡 Investors should view this as a routine leadership transition within the PSU framework and monitor for the appointment of a permanent CMD for long-term strategic clarity.

HMT Limited CMD Shri Rajesh Kohli Completes Term Effective March 25, 2026

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 24 Mar 2026, 09:24 PM

HMT Limited has announced that Shri Rajesh Kohli has ceased to be the Chairman & Managing Director (Additional Charge) effective March 25, 2026. Mr. Kohli, who is an Executive Director at BHEL, was serving in this capacity at HMT following an order from the Ministry of Heavy Industries dated June 26, 2025. His departure is a result of his reaching the age of superannuation at his parent organization, BHEL. The company is now in a transition period regarding its top leadership as it awaits a regular incumbent or a new appointment.

Shri Rajesh Kohli completed his tenure as CMD (Additional Charge) on March 25, 2026.
The departure is due to his superannuation from Bharat Heavy Electricals Limited (BHEL).
He had held the additional leadership charge at HMT since June 30, 2025.
The transition follows the Ministry of Heavy Industries' guidelines for PSU leadership.

💡 Investors should monitor for the appointment of a permanent CMD, as leadership stability is key for the company's operational performance. This is a routine administrative change and does not necessitate immediate portfolio adjustments.

HMT Limited to Close Trading Window from April 1, 2026, for Q4 and FY26 Audited Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Mar 2026, 04:17 PM

HMT Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting April 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of audited financial results for the quarter and full year ending March 31, 2026. The window will remain closed until 48 hours after the financial results are officially declared. The company will announce the specific date of the board meeting for result approval in due course.

Trading window closure commences on April 1, 2026, for all insiders and designated persons.
The closure pertains to the audited financial results for the quarter and year ended March 31, 2026.
Trading restrictions will be lifted 48 hours after the results are announced to the exchanges.
The announcement follows SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 This is a routine regulatory filing with no direct impact on stock fundamentals. Investors should wait for the announcement of the board meeting date to review the company's annual financial performance.

HMT Limited Announces Dissolution of Subsidiary HMT Watches Limited Effective March 2, 2026

🟡 NEUTRAL ⭐ 6/10

REGULATORY 📅 02 Mar 2026, 08:32 PM

HMT Limited has confirmed the formal striking off and dissolution of its wholly owned subsidiary, HMT Watches Limited. The process, which began with an application on January 5, 2026, was finalized by the Ministry of Corporate Affairs on March 2, 2026. This move is part of the government-backed plan to close non-viable units within the HMT group. The dissolution marks the end of a legacy brand's corporate existence under the parent company.

HMT Watches Limited officially dissolved and struck off the Register of Companies on March 2, 2026
The subsidiary was a 100% wholly owned entity of HMT Limited
The dissolution was carried out under Section 248(2) of the Companies Act, 2013
Initial application for striking off was filed earlier on January 5, 2026

💡 No immediate action is required as the closure of the watch division was previously known. Investors should focus on the performance of HMT's remaining business segments like machine tools.

HMT Limited Discloses Delay in Payment of Fines and Dues to Authorities

🔴 NEGATIVE ⭐ 7/10

REGULATORY 📅 28 Feb 2026, 02:42 PM

HMT Limited has officially informed the stock exchanges regarding a delay or default in the payment of fines, penalties, and other statutory dues to authorities. This disclosure, dated February 28, 2026, suggests potential liquidity challenges or administrative bottlenecks within the organization. Such defaults often attract additional interest costs and could lead to further regulatory scrutiny or legal complications. Investors should be wary of the impact this may have on the company's credit profile and operational stability.

HMT Limited reported a formal delay/default in settling dues and penalties to regulatory authorities.
The announcement was filed with the exchange on February 28, 2026.
The specific monetary value of the default was not disclosed in the brief notification.
Potential for increased financial burden due to late payment penalties and interest charges.

💡 Investors should exercise caution and monitor for further disclosures regarding the exact quantum of the default. It is advisable to review the company's debt-to-equity ratio and cash flow position before making new investment decisions.

HMT Appoints Shri Asit Gopal as Government Nominee Director

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 10 Feb 2026, 07:27 PM

HMT Limited has appointed Shri Asit Gopal as a Government Nominee Director on its Board, effective February 10, 2026. Shri Gopal is a senior Indian government officer with over 30 years of experience in public administration, finance, and various ministries. He currently holds the position of Special Secretary & Financial Advisor (SS&FA) in the Ministry of Textiles, with additional charges in several other ministries including Heavy Industries. This appointment is a routine regulatory update for the Public Sector Undertaking (PSU) under SEBI guidelines.

Shri Asit Gopal appointed as Government Nominee Director effective February 10, 2026.
The appointee brings over 30 years of experience in public administration, finance, and tribal affairs.
Educational background includes a B.Tech from IIT Bombay and an MBA.
Currently serves as Special Secretary & Financial Advisor in the Ministry of Textiles with oversight in Heavy Industries.
No inter-se relationship exists between the new director and other members of the Board.

💡 This is a routine administrative change common in PSUs and is unlikely to have an immediate impact on the stock price. Investors should continue to focus on the company's operational performance and turnaround strategies.

HMT Limited Appoints Shri. Asit Gopal as Government Nominee Director

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 09 Feb 2026, 07:20 PM

HMT Limited has announced the appointment of Shri. Asit Gopal as a Government Nominee Director on its Board of Directors. The appointment follows an order from the Ministry of Heavy Industries (MHI) dated February 5, 2026. Shri. Gopal currently serves as the SS&FA at the Ministry of Heavy Industries. This is a standard regulatory appointment for a Public Sector Undertaking (PSU) and is effective immediately.

Shri. Asit Gopal appointed as Government Nominee Director effective February 5, 2026
Appointment made by the Ministry of Heavy Industries (MHI) until further orders
Shri. Gopal holds the position of SS&FA within the Ministry of Heavy Industries
Company is in the process of completing formal induction as per Companies Act, 2013

💡 This is a routine administrative update for a PSU and does not necessitate any immediate change in investment strategy. Investors should continue to monitor the company's operational performance and any strategic shifts resulting from board changes.

HMT Q3 Standalone Net Profit Rises to ₹6.70 Cr; Revenue Declines to ₹5.82 Cr

🟡 NEUTRAL ⭐ 7/10

EARNINGS 📅 09 Feb 2026, 05:50 PM

HMT Limited reported a standalone net profit of ₹6.70 crore for the quarter ended December 31, 2025, a slight increase from ₹6.59 crore in the corresponding quarter of the previous year. However, core revenue from operations witnessed a decline, falling to ₹5.82 crore from ₹7.31 crore year-on-year. The company's bottom line was significantly bolstered by 'Other Income,' which contributed ₹15.03 crore to the total income. For the nine-month period ended December 2025, the company recorded a net profit of ₹20.05 crore compared to ₹17.98 crore in the previous year.

Standalone Net Profit for Q3 FY26 stood at ₹6.70 crore, up from ₹6.59 crore in Q3 FY25.
Revenue from operations decreased by 20.4% YoY to ₹5.82 crore from ₹7.31 crore.
Other Income of ₹15.03 crore accounted for approximately 72% of the total income of ₹20.85 crore.
The company wrote off ₹18.07 crore as bad debt for the nine-month period regarding interest on loans to subsidiary HMT Machine Tools Ltd.
9M FY26 standalone net profit improved to ₹20.05 crore from ₹17.98 crore in the prior year period.

💡 Investors should remain cautious as the company's profitability is heavily dependent on non-operational 'Other Income' rather than core business growth. Monitor the consolidated results to understand the full impact of subsidiary performance and the significant bad debt write-offs.

HMT Limited Files Quarterly Compliance Certificate Under SEBI Regulations

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 14 Jan 2026, 07:26 PM

HMT Limited has submitted its compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended December 31, 2025. The certificate, issued by the company's Registrar and Share Transfer Agent, KFin Technologies Limited, confirms that securities dematerialized or rematerialized during this period have been properly processed. This filing is a standard regulatory requirement to ensure the accuracy of shareholding records across depositories like NSDL and CDSL. There are no financial or operational updates included in this specific announcement.

Compliance certificate submitted for the quarter ended December 31, 2025
Issued in accordance with Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
Confirmation provided by Registrar and Share Transfer Agent (RTA) KFin Technologies Limited
Verifies that dematerialization and rematerialization requests were handled as per regulatory norms

💡 No action is required from investors as this is a routine administrative filing confirming regulatory compliance regarding share records.

HMT Files Application to Strike Off Wholly Owned Subsidiary HMT Watches Limited

🟡 NEUTRAL ⭐ 4/10

REGULATORY 📅 05 Jan 2026, 08:27 PM

HMT Limited has formally filed an application with the Ministry of Corporate Affairs to strike off its wholly owned subsidiary, HMT Watches Limited, from the Registrar of Companies. This action follows the Cabinet Committee on Economic Affairs (CCEA) approval granted on January 6, 2016, for the closure of three non-viable subsidiaries. The filing under Section 248 of the Companies Act, 2013, is a procedural step in the long-pending liquidation process of the watch division. This move is part of a broader restructuring plan to streamline HMT's operations and eliminate legacy liabilities.

Formal application filed on January 5, 2026, for the striking-off of HMT Watches Limited.
Follows a decade-old CCEA mandate from January 2016 to close loss-making units.
HMT Watches Limited is a 100% wholly owned subsidiary of HMT Limited.
The closure process also includes HMT Bearings Limited and HMT Chinar Watches Limited.

💡 Investors should view this as a routine cleanup of legacy loss-making entities that has been expected for years. Monitor the consolidated balance sheet for the final removal of subsidiary-related liabilities.

HMT Limited to Close Trading Window from January 1, 2026 for Q3 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 30 Dec 2025, 07:38 PM

HMT Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting January 1, 2026. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of the unaudited financial results for the quarter ending December 31, 2025. The trading window will remain closed until 48 hours after the financial results are officially announced. The specific date for the board meeting to consider these results will be shared by the company at a later date.

Trading window closure begins on January 1, 2026
Closure is related to the Unaudited Financial Results for the quarter ended December 31, 2025
Window will reopen 48 hours after the results are declared to the stock exchanges
Applies to all insiders, designated persons, and their immediate relatives

💡 No action is required as this is a routine regulatory filing. Investors should look out for the upcoming board meeting date to evaluate the company's quarterly financial performance.

View All HMT Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue for three subsidiaries reached INR 61.25 Cr for the half-year ended September 30, 2025. Standalone total income from continuing operations was INR 13.35 Cr for the same period, representing a significant decline from historical levels such as the INR 45.4 Cr reported in FY16, which itself was a 24.5% drop from FY15 revenue of INR 60.2 Cr.

Geographic Revenue Split

Not disclosed in available documents, though the company operates through HMT (International) Ltd for global markets.

Profitability Margins

Standalone operating profit margin increased to 75.39% in FY25 from 36.46% in FY24, primarily due to a reduction in sales volume and cost rationalization. Net profit margin stood at 61.53% in FY25, down from 50.98% in FY24, impacted by the reversal of income tax provisions in the previous year.

EBITDA Margin

Not explicitly disclosed as EBITDA, but the company reported a consolidated net loss of INR 80.20 Cr for its three subsidiaries for H1 FY26. Standalone cash loss was INR 132.3 Cr in 9MFY17, showing a history of deep operational deficits.

Capital Expenditure

Historical capital expenditure included a GOI-approved revival plan of INR 1,083.48 Cr in 2013. Recent cash flow statements for H1 FY26 show minimal purchase of property, plant, and equipment (INR 0.01 Cr), reflecting a focus on divestment rather than expansion.

Credit Rating & Borrowing

Ratings were withdrawn by CARE in October 2017 following the settlement of bank debt. Previously, the company held a 'CARE B-' rating. Borrowings as of September 30, 2025, stood at INR 1,028.59 Cr, with finance costs for the half-year at INR 2.60 Cr, a 92% reduction from INR 33.06 Cr in the previous year's period.

⚙️ Operational Drivers

Raw Materials

Steel, electronic components for CNC systems, and castings (specific % of total cost not disclosed).

Capacity Expansion

No expansion planned; the company is currently in a phase of contraction and closure. Three subsidiaries (Watches, Chinar Watches, and Bearings) and the Tractor division have been closed to mitigate losses.

Raw Material Costs

Not disclosed as a specific percentage of revenue, but overall personnel costs are being managed through a reduction in workforce to 618 total employees as of March 2025.

Manufacturing Efficiency

Capacity utilization is not specified, but the company is rationalizing surplus manpower and implementing austerity measures to lower the break-even point.

📈 Strategic Growth

Expected Growth Rate

Growth Strategy

The company is not pursuing a growth strategy but rather a 'Revival and Financial Restructuring Plan' focused on closing loss-making subsidiaries (Watches, Bearings) and divisions (Tractors) to discharge liabilities. Future viability depends on the realisable value of non-current assets held for sale and continued funding from the Government of India.

Products & Services

Machine tools, printing machinery, metal forming presses, die casting plastic processing machinery, and CNC systems.

Brand Portfolio

HMT

New Products/Services

Not disclosed; focus is on existing machine tool contracts and international trade via HMT (International) Ltd.

Market Expansion

No expansion; the company is consolidating operations to Bengaluru and specific subsidiary locations.

Market Share & Ranking

Not disclosed; significantly diminished following the exit from the tractor and consumer watch markets.

Strategic Alliances

Maintains a Joint Venture with total assets of INR 0.39 Cr, which reported a marginal loss of INR 0.0071 Cr in H1 FY26.

🌍 External Factors

Industry Trends

The machine tools industry is shifting toward high-precision CNC systems; however, HMT's positioning is weakened by its negative net worth of INR 1,966.34 Cr, which limits its ability to invest in new technology shifts.

Competitive Landscape

Faces competition from private sector machine tool manufacturers and importers, though specific competitors are not named.

Competitive Moat

The primary moat is 'Sovereign Support' from the Government of India. This is sustainable only as long as the GOI continues to provide interest-free loans and grants to discharge liabilities, as the company's net worth is completely eroded.

Macro Economic Sensitivity

Highly sensitive to government policy and fiscal support, as the GOI provided INR 718.7 Cr in 2016 specifically to settle tractor division liabilities.

Consumer Behavior

Shift away from mechanical watches and older tractor models led to the total closure of those divisions.

Geopolitical Risks

Exposure via HMT (International) Ltd, though specific trade barrier impacts are not quantified.

⚖️ Regulatory & Governance

Industry Regulations

Subject to Department of Heavy Industry (DHI) guidelines and CCEA (Cabinet Committee on Economic Affairs) approvals for the closure of units and financial restructuring.

Taxation Policy Impact

The company benefited from a reversal of income tax provisions in FY24, which significantly impacted net profit margins.

Legal Contingencies

The company was fined INR 0.06 Cr (INR 6,08,880) by both BSE and NSE for non-compliance with SEBI regulations regarding the composition of the Board and Audit Committee. It is also dealing with the write-off of INR 11.97 Cr in bad debts related to inter-subsidiary loans.

⚠️ Risk Analysis

Key Uncertainties

The complete erosion of net worth (Negative INR 1,966.34 Cr) creates a material uncertainty regarding the 'Going Concern' status, which is currently mitigated only by government support.