Press release
CMI Limited, the leading specialty cables company, announces its audited annual results: 76.95% increase in revenues YoY and 7.22% growth from Q3: 169.61% growth in PAT YoY and 10.6% growth from Q3 83.68% growth in EPS YoY and 14.79% growth from Q3
CMI Limited, the leading specialty cables manufacturer, announced its audited financial results for the quarter ended 31st March 2016 and the Financial Year 2015-2016.The revenues are at Rs. 24022.20 Lakh (Rs. 240.22 Crore) in FY 2015-2016 as against Rs. 13575.57 Lakh (Rs. 135.75 Crore) in FY of 2014-15, marking an increase of 76.95% on a YoY basis. The revenues for Q4 2015-16 stood at Rs. 7123.74 Lakh (Rs. 71.23 Cr.) as against Rs. 6644.08 Lakh(Rs. 66.44 Crore) of Q3 of marking an increase of 7.22%.
The Profit after Tax (PAT) for FY 2015-16 stood at Rs.1699.60 Lakh(Rs. 16.99 Cr.) as against Rs. 630.39 Lakh (Rs. 6.30 Cr.) in FY 2014-15, marking an increase of 169.61% YoY. PAT at Rs. 532.28 Lakh in Q4 2015-2016, as against Rs. 481.26 Lakh in Q3 of 2015-16, marked an increase of 10.6% in profitability. On a consolidated basis, it rose to Rs. 9430 Lakh(Rs. 94.31 Cr.) in Q4 on account of exceptional and other gains ( due to reversal of Provisions and Impairment losses) from its wholly owned subsidiary, CMI Energy India Private Limited.
The earning per share (EPS) basic was Rs. 13.39 in FY 2015-2016 up from Rs. 7.29 in FY 2014-15, marking an increase of 83.68 % YoY. EPS was Rs. 4.19 in the quarter ended March 31, 2016, up from Rs. 3.65 in Q3, 2015-16, marking an increase of 14.79%. On consolidated basis, it was at Rs. 74.32 for Q4 and Rs. 83.51 for the year on account of exceptional and other gains (due to reversal of Provisions and Impairment losses) from its wholly owned subsidiary, CMI Energy India Private Limited acquisition of which was completed on February 29, 2016.
Mr. Amit Jain, CMD, CMI Ltd. said “Year 2015-16 has been an year of opportunities for us. We have expanded our capacities through acquisition of World-class facilities and have grown by 75% over the last year. We expect the full effect of our acquisitions to reflect in this financial year and are confident of maintaining the growth momentum”.
CMI Limited, incorporated in 1967, commenced business in 1969 as a copper trading company and in early seventies started wire drawing of non–ferrous metals especially copper. In 1980, CMI diversified its activities by setting up facilities for the manufacture of Dry Core Telecommunication Cables. CMI slowly shifted emphasis from copper trading to cable manufacture, where value addition was higher. With the aid of its in–house research and development, the company started the manufacture of Fire Resistant Low Smoke Cables, Instrumentation cables, Control cables and in 1990, commenced the production of JFTC.
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You can edit or delete your press release CMI Limited, the leading specialty cables company, announces its audited annual results: 76.95% increase in revenues YoY and 7.22% growth from Q3: 169.61% growth in PAT YoY and 10.6% growth from Q3 83.68% growth in EPS YoY and 14.79% growth from Q3 here
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