Power Update

CMI bags Rs 36 cr order for supply of cables to GETCO

CMI Limited, a BSE & NSE listed cable company, has been awarded an order worth Rs 36.24 crore by Gujarat Energy Transmission Corporation Limited (GETCO) for supply of 66KV XLPE cables.

The order is revenue accretive and will be delivered within two quarters of 2017-18. CMI Limited recently started commercial production at its newly acquired facility at Baddi, Himachal Pradesh, which was a subsidiary of General Cable Corporation, a fortune 500 company. The cables for the new order will also be manufactured at the new facility.

Amit Jain, CMD, CMI limited said, “We are becoming a preferred partner for wires and cables for the utilities, including the power sector covering both transmission and distribution. Currently over 12 per cent of our total revenues come from the power sector and we expect that around 15 per cent of our revenues by 2019 will be from the segment. Our latest order from GETCO is another feather in our cap and we are going from strength to strength here.”

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