CMI bags orders over Rs 30 crore

CMI Limited has been awarded orders worth more than Rs 30 crore from East Central Railways and BHEL, to provide railway signalling cables and HT XPLE cables, respectively. The order worth Rs 9.97crore from BHEL to supply HT XPLE cables will be delivered within the next 4 months, while the order for the Railway Signalling cables for Rs 20.68 crore will be staggered over a period of 8 months. These orders are also revenue accretive and together with several other orders (received in May 2017), will add over Rs 151 crore to the top line for FY17-18.

Supply of signalling cables and quad cables to railways contributed 45 per cent to the total revenues of CMI in 2016-17 while supply of power cables contributed over 12 per cent to the total revenue. The contribution of the power segment to the revenues of CMI is expected to reach around 15 per cent by 2019. Supply of Wires and Cables to Railways has seen a CAGR of 88 per cent over FY13-16 and it is expected to continue growing at 28-30 per cent over the next few years (FY16-19).

“With continued focus of the government on redefining both the infrastructure segment and Indian Railways, we believe that the industry will grow at a fast pace. We at CMI have the wherewithal to be the preferred choice to provide high quality wires and cables for their every need. Our continuous focus on unwavering quality and our zeal to improvise tilt the balance in our favour,” says Amit Jain, MD, CMI Ltd