CMI Limited the leading specialty cables company announces its audited annual results

CONNAUGHT PLACE, India - May 31, 2016 - PRLog -- CMI Limited, the leading specialty cables manufacturer, announced its audited financial results for the quarter ended 31^st 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".

He added that across sectors CMI is slowly being recognised and accepted as a manufacturer and supplier of choice for Specialised Wires and Cables. With a target of spending 5% of our topline on Research and Development over the next three years, CMI is further gearing itself up to provide customised solutions to its customers for highly critical applications.

"During the quarter CMI received approval from Indian Railways to supply hard drawn contact wire and catenary wire used in electric traction of trains at 25kv. This was a new product that the company had developed for the Railways and this approval only goes to validate our manufacturing capabilities. With this approval CMI has become approved for the entire range of signalling, telecom, quad cables, indoor signalling & wires for high voltage traction on electrified tracks" said Mr. Jain.

He continued "CMI had also bagged a prestigious order from Bharat Heavy Electricals Limited - Project Engineering Management (BHEL PEM), for the Supply of lnstrumentation Cables to the Super Thermal power project of 3 x 660 MW at North Karanpura project of National Thermal Power Corporation (NTPC). This valuable order has opened a whole new world of opportunities for the company, thereby increasing its market share, goodwill and clientele. With this order the company has gained entry to the esteemed league of approved cable manufacturers for NTPC Projects."