The public sector HMT Machine Tools unit at Kalamassery has ended the financial year 2014-15 with record sales and production.
A statement from the unit here said it had recorded a sales turnover of Rs. 73.69 crore, a growth of 31 per cent over the previous year. Production at the unit rose by 19 per cent to touch Rs. 67.67 crore.
Unaudited financial results showed that the unit made a net profit of Rs. 52 lakh for the financial year just ended. This is the fourth successive year in which the HMT Machine Tools unit is recording net profit.
The unit exceeded the sales target of Rs. 70 crore. The unit had achieved the same feat during 2011-12 and 2012-13.
One of the key achievements of the HMT Machine Tools division at Kalamassery last financial year was its success in diversifying into design, manufacture and supply of defence equipment, particularly for naval ships.
The unit had bagged three orders for directing gears for SONAR equipment for Myanmar Navy and one for the Indian Navy. Defence public sector unit Bharat Electronics Limited (BEL), Bangalore, and the Naval Physical and Oceanographic Laboratory (NPOL) supported the HMT Machine Tools unit in the effort, the press release said.
Meanwhile, C.M. Bidar has taken charge as general manager of the Kalamassery unit from April 1. He replaces K.K. Balachandran, who retired on March 31 after 35 years of service.
