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HMT needs Rs1,200 crore for revival
07 Aug '06
1 min read
Hindustan Machine Tools (HMT), a Government of Inida's undertaking, is running in loss and hefty amount of Rs1,200 crore is estimated for its revival.
HMT comprises 7 companies of which 5 are sick; for HMT alone, Government has allocated Rs830 crore and if it wants to restore all sick companies, it would cross almost Rs1,200 crore, informed sources.
HMT has registered loss of Rs100 crore which was reduced to almost 50 percent in year 2005-06 to Rs50 crore while its turnover is targeted at Rs280 cores.
HMT Watches and HMT Chinar has annual turnover of Rs1 crore, whereas government is paying Rs12 crore as salaries and wages.
HMT comprises 7 companies of which 5 are sick; for HMT alone, Government has allocated Rs830 crore and if it wants to restore all sick companies, it would cross almost Rs1,200 crore, informed sources.
HMT has registered loss of Rs100 crore which was reduced to almost 50 percent in year 2005-06 to Rs50 crore while its turnover is targeted at Rs280 cores.
HMT Watches and HMT Chinar has annual turnover of Rs1 crore, whereas government is paying Rs12 crore as salaries and wages.
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