CMICABLES
CMICABLES financials
- Market cap
- ₹4 Cr
- Sector
- Capital Goods
What CMICABLES does
CMI Limited manufactures a wide range of specialty and general-purpose wires and cables — including railway signalling and quad cables, fire survival/fire-retardant (FRLS/LSZH) cables, telecom (PIJF) cables, control and instrumentation cables, and EHV/HV/MV/LV power cables and overhead conductors — supplying railways, metro rail, power, telecom, and oil & gas/petrochemical customers in India and abroad. Manufacturing is carried out at its Faridabad (Haryana) plant, with an additional Baddi (Himachal Pradesh) greenfield facility acquired from General Cable Corporation, USA. The company is currently undergoing Corporate Insolvency Resolution Process (CIRP) under the NCLT (since July 2023), with board powers suspended and affairs run by a Resolution Professional to keep the company as a going concern.
Segments
- Railway Signalling & Quad Cables
- Power Cables
- Control & Instrumentation Cables
- Telecom Cables
- Fire Survival / Fire Retardant (FRLS/LSZH) Cables
- Export Cables
- Manufacturing plants
- 2 (Faridabad, Haryana – operational; Baddi, Himachal Pradesh – greenfield facility acquired from General Cable Corp., USA, non-operational in FY24-25)
- Export markets
- ~22 countries incl. Bhutan, Bangladesh, Dubai, Egypt, Germany, Kuwait, Malaysia, Nepal, Nigeria, Qatar, Singapore, Sri Lanka, UK, Zambia
- Cable product types manufactured
- 15+ distinct cable/wire types across segments
- Quality certifications
- ISO 9001, ISO 14001, BS ISO 45001
- In-house R&D & testing facility
- 1 (Faridabad – electrical, mechanical, thermal and fire testing)
- Marquee institutional clients
- Indian Railways, DMRC, ISRO, BHEL, NTPC, Ircon International, L&T, IOCL, EIL, Alstom T&D India, Vizag Steel Plant, Numaligarh Refinery, Satish Dhawan Space Research Centre, Siemens Information Processing
Quarterly results
Q4 FY25: revenue down 53.7%, net profit up 65.8% against the same quarter last year.
| Line item | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4 | 8 | 8 | 29 | 16 +285% | 30 +281% | 44 +427% | 13 −54% |
| EBITDA | -2 | 0 | 0 | -1 | -2 +4% | -2 −800% | -2 −569% | -1 +63% |
| Net profit | -3 | -2 | -1 | -8 | -4 −23% | -6 −242% | -8 −1052% | -3 +66% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −26.2% 1Y
1Y: ₹3.4 on 1 Sept 2025 → ₹2.51. High ₹5.74 (5 Jan 2026), low ₹2.51 (7 Sept 2026).
Financials, as filed
Revenue fell 27.7% a year over 4 years, FY17 to FY25. Operating margin narrowed to -6.6%.
| Year ending | FY17 | FY18 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | ₹378 Cr | ₹560 Cr | ₹22 Cr | ₹49 Cr | ₹103 Cr |
| Operating profit | ₹49 Cr | ₹76 Cr | ₹-19 Cr | ₹-2 Cr | ₹-7 Cr |
| Operating margin | 12.9% | 13.6% | -85.3% | -4.9% | -6.6% |
| Interest | ₹21 Cr | ₹29 Cr | ₹1 Cr | ₹1 Cr | ₹1 Cr |
| Depreciation | ₹10 Cr | ₹10 Cr | ₹9 Cr | ₹15 Cr | ₹14 Cr |
| Net profit | ₹30 Cr | ₹26 Cr | ₹-110 Cr | ₹-14 Cr | ₹-21 Cr |
| Net margin | 8.0% | 4.6% | -499.5% | -27.8% | -20.2% |
| Cash from operations | ₹-22 Cr | ₹-24 Cr | — | — | — |
| Free cash flow | ₹-27 Cr | ₹-31 Cr | — | — | — |
| ROCE | 14.0% | 17.0% | — | — | — |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY09 | FY10 | FY15 | FY16 | FY17 | FY18 |
|---|---|---|---|---|---|---|
| Equity capital | ₹3 Cr | ₹3 Cr | ₹11 Cr | ₹14 Cr | ₹15 Cr | ₹15 Cr |
| Reserves | ₹1 Cr | ₹4 Cr | ₹26 Cr | ₹161 Cr | ₹192 Cr | ₹235 Cr |
| Borrowings | ₹18 Cr | ₹17 Cr | ₹33 Cr | ₹98 Cr | ₹158 Cr | ₹243 Cr |
| Other liabilities | ₹8 Cr | ₹9 Cr | ₹25 Cr | ₹48 Cr | ₹131 Cr | ₹158 Cr |
| Total liabilities | ₹29 Cr | ₹33 Cr | ₹95 Cr | ₹322 Cr | ₹496 Cr | ₹652 Cr |
| Fixed assets | ₹6 Cr | ₹6 Cr | ₹8 Cr | ₹166 Cr | ₹164 Cr | ₹157 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹7 Cr | ₹5 Cr | ₹3 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹24 Cr | ₹27 Cr | ₹87 Cr | ₹149 Cr | ₹328 Cr | ₹492 Cr |
| Total assets | ₹29 Cr | ₹33 Cr | ₹95 Cr | ₹322 Cr | ₹496 Cr | ₹652 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Mar 2023
Since Mar 2022, promoters trimmed −26.39 pp while the public added +14.05 pp. The shareholder count grew 6% to 17,682.
- Promoters
- 0.5%
- FIIs
- 0.8%
- DIIs
- 23.1%
- Public
- 75.6%
Since Mar 2022
- Promoters −26.39 pp
- Public +14.05 pp
- DIIs +12.35 pp
How it drifted, 12 quarters
Over this window promoters fell from 44.0% to 0.5% — −43.5 pp.
Ownership split by quarter, oldest first. Jun '20: Promoters 44.0%, FIIs 4.0%, DIIs 2.0%, Public 50.0%.Sep '20: Promoters 44.0%, FIIs 4.0%, DIIs 2.0%, Public 50.1%.Dec '20: Promoters 44.0%, FIIs 4.0%, DIIs 2.0%, Public 50.1%.Mar '21: Promoters 41.2%, FIIs 3.5%, DIIs 1.9%, Public 53.5%.Jun '21: Promoters 41.2%, FIIs 3.5%, DIIs 1.9%, Public 53.5%.Sep '21: Promoters 27.0%, FIIs 2.3%, DIIs 10.7%, Public 60.0%.Dec '21: Promoters 26.9%, FIIs 0.8%, DIIs 10.8%, Public 61.5%.Mar '22: Promoters 26.9%, FIIs 0.8%, DIIs 10.8%, Public 61.5%.Jun '22: Promoters 26.9%, FIIs 0.8%, DIIs 10.8%, Public 61.6%.Sep '22: Promoters 7.9%, FIIs 1.0%, DIIs 23.1%, Public 68.0%.Dec '22: Promoters 0.5%, FIIs 0.8%, DIIs 23.1%, Public 75.6%.Mar '23: Promoters 0.5%, FIIs 0.8%, DIIs 23.1%, Public 75.6%.
Who bought this quarter
since Dec 2022
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Cni Research newly disclosed 1.87% held
The same filing shows 0 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2023 filing
Every holder of CMICABLES above SEBI's 1% disclosure line, and what changed since Dec 2022.
| Holder | Stake | Change |
|---|---|---|
| Canara Bank-new Delhi Bank | 12.35% | unchanged |
| Bank Of Bahrain & Kuwait B S C Bank | 10.75% | unchanged |
| Ananthakrishnan | 6.15% | unchanged |
| Cni Research | 1.87% | newly disclosed |
| Ramesh Singhal | 1.21% | unchanged |
| Galon Services Private Limited | 1.01% | unchanged |
| Amit Jain | 0.50% | unchanged |
| Himani Jain | 0.00% | unchanged |
| Dhruv Jain | 0.00% | unchanged |
| Vishwa Prabha Jain | 0.00% | unchanged |
| Cni Research Limited | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse CMICABLES
Guides on how to read this kind of business and the numbers that matter.