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Hmt Bearings

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Submitted By shwetasaini
Words 974
Pages 4
Introduction:
HMT Bearings Ltd. ("HMTB") was incorporated in 1964 under the name of Indo Nippon Precision Bearings Limited. The Company was promoted as a state public sector company by the Government of Andhra Pradesh in technical collaboration with M/s Koyo Seiko Co. Ltd., Japan. It commenced commercial production in 1970. In 1980 the Company became a central public sector undertaking after it was made a subsidiary of HMT Limited ("HMTL"). The vision of the company is to produce & market bearings and other engineering components of world class excellence through total performance leadership. Company is strictly adhered to the standards, specifications stipulated in ISO-9001-2000.
Objective: To explore the factors responsible for loss of company HMT Bearings Ltd.
HMT Bearings began suffering a liquidity crisis in 1999-2000. It worsened 2002 and 2003, primarily due to a massive inventory buildup and accumulation of uncollected receivables.
In mid-2002, the government and HMT Group explored shutting down HMT Bearings, taking the losses and pensioning off the employees. But that plan was rejected, out of concern for the impact on employment and high pension costs, and in the face of intense pressure by the Center of India Trade Union in Hyderabad. Rather than shut down HMT Bearings, government-funded bailouts were instituted, debt was converted to equity in order to eliminate the overwhelming interest expense.

The key development in 2002 was the decision to seek a strategic investor to buy out the government's by-then 97% ownership after equity conversion. Seeking an Expression of Interest from qualified buyers, an operating background for HMT was developed, along with bid guidelines (expired in August 2002).
No buyers were found, losses continued and Bearings' equity went negative by April 2003.
In 2006 HMT Bearings Managing Director, Neeraj Mishra made the comments during the annual Hannover Technology Fair (Germany), where HMT Bearings set up shop primarily to attract foreign investment interest.

FACTORS :
• Change in demand of Automobiles and Manufacturing sector (Fate of Bearing industry depends on the sales of vehicles)Recession hit the auto sector in 2002-2003, which resulted in low production. Data extracted from Annual Report of HMT 2002-2003.
• Change in prices of Steel(steel prices appreciated 40% since January 2002)
• High Employee Cost .Retrenchment could not be worked out (burden of salaries and pension)
• No buyers were available.
• Most of the big players are having either technical or financial collaboration with leading auto manufacturers.
• Limited Suppliers
• Liquidity crises

Analysis:
STRENGTHS WEAKNESS
New Product Service
• Strive continuously to assure highest standard of service
• Strive to attain international standards to become globally competitive
• Acknowledge all correspondence within a reasonable time of its receipt
• Adhere to the delivery schedules
Reputation
Incorporated in the year 1964, HMT Bearings Ltd., was the only company of its kind in the public sector set-up to manufacture Ball & Roller Bearings. Financial Position

Undifferentiated products or services
• Lack of associated product
• Similar products other competitor companies was manufacturing with added features and services
Lack of formal strategic planning
• No formal strategy to enhance market share
Low export performance (10% of its sales)
• Lack of export marketing capabilities
• Lack of financial resources to sustain inventory levels necessary to be kept
• Lack of subsidized participation in trade fairs and trade missions
• Legacy of Ministry approvals and other red tapeism for travel abroad unlike the flexibility that the private sector enjoys.
OPPORTUNITIES THREATS
New Product opportunities
Mergers or strategic alliances
New market segments
Regulatory changes • Major threat was from unorganised players in market for replacement of ball bearing.
• Imports
Competitors
• Austin Engineering Company Ltd. (since 1973)
• Premier (India) Bearings Ltd. (since 1975)
• Classic Bearings (since 1992)
New, innovative product or service
• Lack of modernization of manufacturing facilities.
• Huge Technology Gap
• Limited Product range (Ball Bearing Lines, Cylindrical Roller Brg Lines, Tapper Roller Bearing Lines, CNC versatile Grinding lines) compare to competitors range.
• Design tends to be market driven rather than technology driven, with technology providing the capability to meet new market needs.

Price wars

Limited Marketing Network
Only 8 places in India (New Delhi, Jamshedpur, Jabalpur, Kolkata, Mumbai, Pune, Hyderabad, Chennai)

Methodology: Through Annual Report and company’s website we have collected data. (what method you have followed ratio / regression)
Conclusion: Sales was less because production was low. Recession in auto sector
Policy Conclusion: (from your conclusion which you could have suggest company OR Rational policy conclusion if not possible)
Reference:
Annual Report of HMT Bearings Ltd. Website (http://www.hmtbearings.co.in)
Report of Indian Machine Tools Industry (http://dhi.nic.in)
News from eBearings.com
Published report indiainfoline.com by Ajay Shethiya with Sandeep Vij & Biren Patel
PROOF OF MARKET STRUCTURE
1. Limited players in the market.
MAJOR COMPETITORS FOR HMT BEARING LTD.
ORGANISED PLAYERS
1. SKF Bearings India
2. National Engineering Inds
3. FAG Bearings India
4. Timken India
5. NRB Bearings
6. TISCO
7. ABC Bearings Ltd.
8. Mahindra Sintered Products
9. Sujana Industries
10. Kirloskar Oil Engines
11. Bimetal Bearings
12. Harsha Engineers
13. Gabriel India
14. ARB Bearings
15. Austin Engineering Co.
16. Mipco Seamless Rings (Gujarat)
17. Asian Bearing
18. SBL Industries
19. Texspin Bearings
UNORGANISED SECTOR
IMPORTS

2. Differentiated Products
Name of Company Product Name of Company Product
SKF Bearings India Ball Bearing ABC Bearings Ltd Taper Roller Bearing
National Engineering Inds Ball & tapered Bearing Mahindra Sintered Products Ball & Roller Bearing/Bushes
FAG Bearings India Spherical Roller Bearing Sujana Industries Ball Bearings
Timken India Ball & Roller Bearing Kirloskar Oil Engines Ball Bearings
NRB Bearings Needle Roller Bearing Bimetal Bearings Engine Bearing
TISCO
Ball & Roller Bearing Harsha Engineers Roller & Ball Bearings
Gabriel India Bimetal Bearing ARB Bearings Taper Roller,Deep Groove ball, Cylinderical Roller
Austin Engineering Co. Ball, Cylinderical, Tapered Mipco Seamless Rings (Gujarat) Different Types of Ball Bearings
Asian Bearing Spiral Roller,Rod Guide bushes, cast bronze bearing bushes SBL Industries Ball, Roller, Tapered Bearings

INDUSTRY STRUCTURE

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