Bangalore, Aug. 24 (PTI): Hindustan Machine Tools Ltd (HMT), is eyeing Rs 600 crore in revenue, commanding a major share in sales and production among machine tools, a top executive of the company today said.
HMT posted revenues of Rs 240 crore, registering a growth of 25 per cent over the previous year and expected to grow to Rs 290 crore this year, M.S. Zahed, chairman and managing director of HMT told reporters at the national machine technology show which began here on August 22.
“Market for machine tools is very buoyant, specially in Europe, Asia and Africa, and we want to expand our global network which already extends to 38 countries. Our corporate objective is to achieve a target of 30 per cent as far as machine tools are concerned,” he said.
HMT holds a 43 per cent share of the country’s total production at Rs 572 crore, registering an increase of 8 per cent over last year.
In 2001-2002, 43 per cent orders booked in India by domestic suppliers had been bagged by HMT against 33 per cent during 2000-2001.
“This has been possible because of better customer focus and effort to provide state-of-the-art technology products,” C.J. Aneja, executive director of the company said.