CMI Ltd. bags orders worth more than Rs. 30 crore from East Central Railways & BHEL for signalling cables HT XPLE power cables

CMI Limited, the BSE & NSE Listed Specialty Cable company, has been awarded orders worth more than 30 crore from East Central Railways and BHEL(Bharat Heavy Electricals Ltd), to provide Railway Signalling cables and HT XPLE cables, respectively.

New Delhi, Delhi, June 23, 2017 /India PRwire/ -- CMI Limited, the BSE & NSE Listed Specialty Cable company, has been awarded orders worth more than 30 crore from East Central Railways and BHEL(Bharat Heavy Electricals Ltd), to provide Railway Signalling cables and HT XPLE cables, respectively.

The order worth Rs 9.97crores 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 crores 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 151 Cr to the topline for FY 17-18.

Supply of Signalling cables and Quad Cables to Railways contributed 45% to the total revenues of CMI in 2016-17 while supply of power cables contributed over 12% to the total revenue. The contribution of the power segment to the revenues of CMI is expected to reach around 15% by 2019. Supply of Wires and Cables to Railways has seen a CAGR of 88% over FY 13-16 and it is expected to continue growing at 28-30% over the next few years(FY 16-19).

"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 Mr Amit Jain, MD, CMI ltd.

Notes to Editor

CMI is a listed, specialty cables company (BSE Scrip Code: 517330, NSE Symbol: CMICABLES). CMI closed the year 2015-16 with revenues of Rs.27139.28 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. CMI began the 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. 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 thelike. 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

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