CMI Limited, the leading specialty cables company, announces its Q1 results: 69.9% YoY and 7.32% QoQ growth in revenue, 93.8% YoY and 3.36%QoQ growth in PAT

PRESS RELEASE
August 17, 2016
BSE Scrip Code: 517330

CMI Limited, the leading specialty cables company, announces its Q1 results:
69.9% YoY and 7.32% QoQ growth in revenues.
93.8% YoY and 3.36%QoQ growth in PAT
EPS at 3.86, up from Rs. 2.44
CMI Limited, the leading specialty cables manufacturer, announced its unaudited financial results for the quarter ended 30th June 2016.

The revenues are at Rs. 7701.02 Lakh in Q1 2017 as against Rs. 4532.64 Lakh in Q1 of 2016, marking an increase of 69.9% on a standalone basis. The revenues have also increased by over 7.32% on a QoQ basis, up from Rs. 7175.62 Lakh of Q4 2016.
The Profit after Tax (PAT) is at Rs. 550.15 Lakh in Q1 2017, against Rs. 283.87 Lakh in Q1 of 2016, marking an increase of 93.8% in profitability. The PAT has also increased by over 3.36% on a QoQ basis, up from Rs. 532.28 Lakh of Q4 2016.

The earning per share (EPS) is Rs. 3.86 in the quarter ended June 30, 2016, up from Rs. 2.44 in Q1, 2016.
“The results are in line with our expectations for the current fiscal. The impact of our wholly owned subsidiary, CMI Energy IndiaPrivate Limited (formerly General Cable Energy India Private Limited), willstart becoming visible from Q2”, says Mr. Amit Jain, Chairman and Managing Director and CEO, CMI Limited.

CMI Limited had acquired Fortune 500 Company, General Cable Corporation (GCC)’s India operations in Feb 2016. Q1 saw the successful commissioning of the facility of CMI Energy India Private Limited. The company has already started bagging orders and will start generating revenues from Q2 itself.

About CMI Limited:
CMI is a BSE listed, specialty cables company (BSE Scrip Code: 517330). CMI closed the year 2015-16 with revenues of Rs. 24170.54 Lakh.

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.

CMI focus is currently on new product development with the emphasis on latest technologies at its facilities. CMI’s original facility is located at Faridabad in Haryana. CMI has also begun Commercial Production at its new facility at Baddi, Himachal Pradesh in April 2016, which was a part of its acquisition of General Cable Energy Private Limited from fortune 500 Company, General Cable Corporation.

Today, CMI manufactures a wide variety of cables for infrastructure, Railways, Oil & Refinery industries, Engineering Companies, EPCC contractors, and the like. CMI’s satisfied customers include Railways & its subsidiaries like IRCON. RITES, MRVC, Konkan Railways, DLW, DMRC & other metros; Oil & Refinery industries like IOCL, BPCL, BORL, GAIL, MRPL, HPCL, ONGC; Leading Government companies likeEIL, ISRO, BHEL, NLC, NTPC, NPC, BSNL / MTNL and HEC; Private Sector EPCC companies like L&T, Alstom, Siemens, Hitachi, Linde, Thales, Lurgi, Technip and ABB; Steel plants like Vishakhapatnam Steel Plant, Bhushan Power & Steel, etc. CMI has also exported cables to Sri Lanka, Bangladesh & Iran Railways.

CMI is now manufacturing wide variety of cables including Railway Quad cables, Signaling cables, Ballise cable for Train protection & warning system, Fire survival cables, LSZH / FRLS sheathed cables, Control & instrumentation cables, Cables with TPUsheath, PTFE cables, Special cables for multi object tracking radar, Fire alarm & communication cables, PIJF telecom cables, EPR/CSP/PCP insulated & sheathed Rubber cables, Linear Heat sensing cables, etc.

181, Anand Vihar, Pitampura, New Delhi -110034

This release was published on openPR.