Press release
CMI Limited, the leading Speciality Cables manufacturer, announces Q1 results for 2017-18
CMI Limited, the leading Specialty Cables manufacturer, announces Q1 results for 2017-18On a consolidated basis, the Income stood at Rs. 14,427.91 Lakhs, Net Profit at 603.16 Lakhs and EPS at Rs. 4.03
CMI Limited, the leading Speciality Cables Company, has announced its Q1 results for 2017-2018.
On a consolidated basis, the total income stood at Rs.14,427.91 Lakhs in Q1 of 2017-18, up from Rs. 8,729.46 Lakhs in Q1 of 2016-17. The Net Profit was at 603.16 Lakhs in Q1 of 2017-18, up from Rs. 151.10 Lakhs in Q1 of 2016-17. EPS in Q1 2017-18 is at Rs. 4.03, up from Rs. 1.07 in Q1 of 2016-17.
On a standalone basis, the total income stood at Rs.10,582.09 Lakhs in Q1 of 2017-18, up from Rs. 8,740.15 Lakhs in Q1 of 2016-17. The Net Profit was at 653.13 Lakhs in Q1 of 2017-18, up from Rs. 628.06 Lakhs in Q1 of 2016-17. EPS in Q1 2017-18 is at Rs. 4.36, slightly lower than Rs. 4.46 in Q1 of 2016-17, due to the increase in the paid up share capital from 1408.07 Lakhs to 1502.74 lakhs. The increase in share capital is due to the allotment of 250,000 equity shares of Rs. 10 each, at a premium of Rs. 290, to the promoters on a preferential basis.
Mr. Amit Jain, CMD, CMI Ltd., said “The results are in line with our expectations given the uncertainties in the business due to impending implementation of GST in the first quarter. We expect growth to pick up in the last two quarters of the current financial year once the GST implementation sets in. We are clearly seeing signs of pickup in capex in infrastructure sector which augurs well for the wires and cable industry and CMI.”
He further added that CMI ltd. has a robust pipeline for new products which are highly specialized for application in critical areas in various sectors and CMI is confident of outpacing the industry growth
About CMI Limited
CMI is a listed, specialty cables company (NSE Symbol: CMICABLES, BSE Scrip Code: 517330,). CMI closed the year 2016-17 with revenues of Rs. 346 Crore.
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 began the 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. It is India’s first green factory in the segment.
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 like EIL, 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 TPU sheath, 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-34
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