CMI begins commercial production at cables plant in Baddi.
This facility, built with a total capex of Rs 150 crore, is a part of the recently acquired General Cable Energy Private Limited (Fortune 500 company), which is in the process of being merged with CMI Ltd.
CMI Limited expects to add Rs 1000 crores in capacity, with the commencement of this facility. In the next 3 years, the company expects to optimally utilize the additional capacity. The commercial production at the facility has begun in a record time of 50 days, post-acquisition.
Dec 9, 2016:
Leading specialty cables company ‘CMI Ltd’ gets listing on NSE.
Recent acquisition will replace some of the import substitute. The new plant is going to help in increasing its export as well.
Yesterday, I have mentioned CMI Ltd at Rs 199.50 on FB group.
Recently, company has diluted equity. Added Debt as well. But price is corrected by 50% too.
I think, seeing its quality products and improved capacity, it is poised to grow.
Jan 16, 2017:
Board has decided to issue 5 lakh equity shares at the price of Rs 300, which is heavy premium at current price of Rs 200.
In the same meeting, Syndicate Bank has increase Working Capital credit facility to 150 Cr from Rs 100 Cr. Company expect that due to increased Volume, company may need more Working Capital. It also expect, in 2018, company will be cash flow positive after meeting the working capital need.