· 43.97% increase in revenues from Q2 2015 at Rs. 82.77 Cr,
7.49% growth Quarter on Quarter;
· 38.12% growth in PAT from Q2 2015 at Rs. 5.55 Cr,
0.97% growth PAT Quarter on Quarter;
· EPS at 3.82, up from Rs. 3.21
India 16 November 2016: CMI Limited, the leading specialty cables manufacturer, today announced its unaudited financial results for the quarter and half year ended 30th September 2016.
On standalone basis, the revenues are at Rs.8277.64 Lakh in Q2 2016-2017 as against Rs.5749.53 Lakh in Q2 of 2015-16, marking growth of 43.97%. The revenues have also increased by over 7.49% on a QoQ basis, up from Rs.7701.02 Lakh of Q1 2016-17. The revenues on consolidated basis stand at Rs.9311.81 Lakh in Q2 2016-2017 up 61.96% on YoY basis and 19.88% on QoQ basis.
On standalone basis, Profit after Tax (PAT) was at Rs.555.51 Lakh in Q2 2016-2017 as against Rs.402.18 Lakh in Q2 of 2015-16, marking an increase of 38.12%. PAT has also increased by over 0.97% on a QoQ basis, up from Rs.550.15 Lakh of Q1 2016-17. On consolidated basis, PAT was Rs.303.00 lakhs up 98.69% on QoQ basis and down by 24.66% YoY basis. Consolidated PAT was down due to Loss reported by Wholly owned subsidiary, CMI Energy Private Limited( formerly Known as General Cable Energy India Private Limited) which was acquired by CMI Limited on 29th February, 2016 from General Cable USA ( A Fortune 500 Company). However, on consolidated basis, Cash Profit was Rs.568.80 Lakh during this quarter as against Rs.433.28 Lakh in Q2 of 2015-16 registering a growth of 31.28% QoQ.
The earning per share (EPS) was Rs. 3.82 in the quarter ended September 30, 2016, up from Rs. 3.21 in Q2, 2015-16. On a consolidated basis, EPS was Rs. 2.09, up from Rs. 1.20 in Q1, 2016-17.
“The integration and consolidation of operations post acquisition of General Cable facility is on expected lines and we continue to have a robust order book. CMI Energy India Private Limited gave positive EBITDA in Q2 which is encouraging. Our new products have found good acceptance not only in the domestic market but internationally as well”, says Mr. Amit Jain, Chairman and Managing Director and CEO, CMI Limited.
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 acquired the fully developed manufacturing facility of Danish Company, FL Smidth, in Bawal in Haryana in September 2015. 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 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.