CMI announces its annual growth result

Cables manufacturer CMI Limited has announced its audited financial results for the quarter ended 31st 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. 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”.