– CMI Limited, the leading specialty cables company, announces its annual results(2016-17)
- Revenues in FY 2016-2017 at Rs.34,603.43 Lakh(346.03 Cr)on an standalone basis and Rs. 42,555.08 Lakh(425.55 Cr) on a consolidated basis
- PAT in FY2016-2017 at Rs.2008.34 Lakh(20.08 Cr) on an standalone basis and Rs. 3,007.48 Lakh(30.07 Cr) on a consolidated basis
- EPS at Rs13.83 on an standalone basis and Rs.20.61 on a consolidated basis
CMI Limited, the NSE & BSE Listed Specialty Cable Company today announced its audited financial results for FY 2016-2017.
The revenues are at Rs 34,603.43 Lakh (Rs 346.03 Cr) for the year ended March 31, 2017, up from Rs 27,139.28 Lakh (Rs 271.39 Cr) in 2015-2016 marking an increase of 27.5%. The revenue on a consolidated basis stand at Rs 42,555.08 Lakh (425.55 Cr) in 2016-2017 making an increase of 57% as compared to previous year 2015-16 where revenue stood at Rs.27139.28 Lakh(271.39 Cr) . PAT in 2016-17 stood at Rs 2008.34 Lakh (Rs 20.08 cr) up from Rs1699.6 Lakh (Rs16.99 Cr) of 2015-16. On a consolidated basis, the PAT stood at Rs 3,007.48 Lakh (Rs 30.07 Cr). The Basic EPS on standalone basis during this period was Rs.13.83 in 2016-2017 as against Rs.13.39 of 2015-16. Basic EPS on consolidated basis stood at Rs. 20.61.
In addition, Q4 results for 2016-2017 were also on a growth curvature with revenues at Rs10,784.38 Lakh (Rs107.84 Cr), as against Rs 8055.57Lakh (Rs 80.55 Cr) in Q4 of 2015-2016 marking an increase of 33.8%. PAT for the same period stood at Rs 630.98 Lakh (Rs 6.30 Cr) from Rs 532.28 Lakh (Rs 5.32 Cr) in 2015-2016. Basic EPS for 2016-2017 is at Rs 4.29 and it increased from Rs 4.19. On a consolidated basis, the revenues for Q4 2016-2017 stood at Rs15,054.49 Lakh (Rs 150.54 Cr).
CMI, continued its positive growth from the last quarter and its revenues recorded positive growth from Q3 of 2016-2017 which stood at Rs10,784.38 Lakh (Rs107.84Cr) up from Rs 5936.51 Lakh (Rs 59.36 Cr) marking an increase of 81.66% on standalone basis. PAT for the Q4 of 2016-2017 stood at Rs 630.98 Lakh(Rs6.30 Cr) showing upswing of 133% from Rs 270.18 Lakh (2.70 Cr), the previous quarter. Basic EPS also recorded growth by 139% and stood at Rs 4.29 from Rs 1.79.
”Wire and cables industry is on the growth path. The impetus provided by the government of India for modernisation as well as laying of new railway lines and their vision to provide electricity to all by 2022 puts the industry on the growth trajectory. This opens huge growth opportunity for the sector and we believe that CMI with its constant endeavour to provide latest innovative products to its customers will reap huge dividends ”, says Mr Amit Jain, MD, CMI Ltd
We also want to assure our stakeholders including shareholders, vendors and customers that CMI is ready to go to the next level very rapidly without making any compromise on its ethics and principals, adds Mr. Jain
Notes to Editor
CMI is a listed, specialty cables company (NSE Symbol: CMICABLES, BSE Scrip Code: 517330,). CMI closed the year 2016-17 with revenues of Rs.3,4603.43 Lakh.
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 and another facility at Baddi, Himachal Pradesh, 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.