CMI Limited has been awarded Rs. 86.95 crores order by Central Railways for supply of PVC insulated armoured, unscreened, 'copper conductor underground Railway signaling cable for 6449.89 kms. This order will be delivered within the FY 2017-18, staggered over a period of 9 months.
The order has been placed by the Office of Controller of Stores, Mumbai CS Terminus, Central Railways. This order is also revenue accretive and together with the GETCO order(also received in May 2017), will add over 121 Cr to the topline for FY 17-18.
The last 20 years, CMI has partnered Indian Railways & its subsidiaries/ associates like RVNL, IRCON, RITES, DLW, CLW, MRVCL, Konkan Railways, etc, which are amongst the biggest CMI clients today. CMI has supplied Wires & cables for Metros in different cities like Delhi, Jaipur, Hyderabad, Bengaluru, Kolkata, etc, and negotiations are on with various other metros. In this segment, CMI already supplies Railway signaling and power cables, Axle counter and quad cables, Catenary wires, Hard drawn copper wires, Balise cables for train protection and Warning systems and Low-smoke zero halogen cables.
Supply of Signaling cables and Quad Cables to Railways contributed 45% to the total revenues of CMI in 2016-17. 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).
“The government’s continued thrust on Electrification, network enhancement& decongestion of Indian Railways as well as the development of Metro rail projects across India are spelt as good news for the Wire and Cables sector. CMI with its strong railway orientation, will be an obvious participant in this growth story”, says Mr. Amit Jain, CMD, CMI Limited.