The Rs-346 crore specialty cables manufacturer CMI Ltd has said that it is eyeing to clock 30% year-on-year (YoY) growth on a consolidated basis by fiscal end on the back of infrastructure. “We are seeing an uptick in infrastructure spending and our order book remains healthy. We are bullish on the remaining two quarters, and expect to close the year with a 30% year on year growth on a consolidated basis,” said the company’s CMD, Amit Jain.
Jain presented the company’s revenue forecast as he announced the company’s second quarter results for 2017-18. CMI notched Rs 134.95 core in revenue and Rs 6.14 crore in net profit on a consolidated basis. Underscoring the affect of GST on CMI, he averred: “The results are in line with our expectations and despite the effects of GST, we have reported robust sales.”