CMI Limited, the leading specialty cables company, announces its Q1 results: 59.7% increase in revenues from Q1 2014-15 at Rs. 45.32 Cr
CMI Limited, the leading specialty cables manufacturer, today announced its unaudited financial results for the quarter ended 30th June 2015.
- (1888PressRelease) August 18, 2015 - CMI Limited announces its Q1 results : 12% growth from Q4 of 2014-15; 169% growth in PAT from Q1 2014-15 at Rs. 2.83 Cr, 37% growth from Q4 of 2014-15
The revenues are at Rs. 4532.64 Lakh in Q1 2015-2016 as against Rs. 2838.20 Lakh in Q1 of 2014-15, marking an increase of 59.7%. The revenues have also increased by over 12% on a QoQ basis, up from Rs. 4029.82 Lakh of Q4 2014-15.
The Profit after Tax (PAT) at Rs. 283.87 Lakh in Q1 2015-2016, against Rs. 105.65 Lakh in Q1 of 2014-15, marked an increase of 169% in profitability. The PAT has also increased by over 37% on a QoQ basis, up from Rs. 206.75 Lakh of Q4 2014-15.
The earning per share (EPS) was Rs. 2.44 in the quarter ended June 30, 2015, down from Rs. 2.99 in Q1, 2014-15. The decrease in EPS was due to expansion of Capital by 224% over Q1 2014-15. The Capital went up from Rs.353.48 Lakh in Q1 2014-15 to Rs.1145.50 Lakh in Q1 2015-16. The EPS for Q4 of 2014-2015 was Rs. 1.87.
"We remain very optimistic as far as the business outlook for our industry is concerned. With a healthy order book, we are convinced that the Financial Year 2015-16 will be our best ever. We are also focused on creating a sustainable export market for our products besides acquiring newer customers and catering to newer verticals. To fuel our growth, we will look at both organic and inorganic capacity expansion in the future", says Mr. Amit Jain, Chairman and Managing Director and CEO, CMI Limited.
CMI Ltd. is a leading specialty cable manufacturing company that is providing the much needed high quality cables for almost all sectors of the economy - be it infrastructure, Oil& Gas, Engineering, EPC, etc. "Today, CMI has become known as a quality supplier to the Government and Private sector alike and it has all been possible because of the focus on redefining the cable industry by constant innovation & R&D", adds Mr. Jain.
About CMI Limited:
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.
The current promoters acquired the company, which was then a loss making sick company, from its erstwhile promoters in 2002. In the last 13 years, the company has not just come out of the red, but is also registering cash profits. From Rs. 5.6 Cr revenues in 2004-2005, the company closed 2014-15 with revenues of Rs. 137.28 Cr.
Under the new promoters, the focus shifted to new product development with the focus on latest technologies.
Today, CMI manufactures a wide variety of cables, for Infrastructure, Railways, Oil & Refinery Sector, 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.
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