CMI bags orders 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.
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 .