CMI Limited Announces FY22 Results: Annual Total Income Slumps 66%, Net Loss decreases 26.56%
CMI Limited [NSE: CMICABLES, BOM: 517330], an Indian wire and cable manufacturer, has announced its financials for the quarter and year ended 31st March 2022.
Comparison of CMI Ltd.’s Financial Results
YoY Comparison: Q4 FY-21 vs Q4 FY-22 & FY-21 vs FY-22
CMI Ltd. reported a total income of Rs 9.86 crore for the quarter ended 31st March 2022, and Rs 70.93 crore during fiscal FY-22.
Comparison of Q4 total income for FY-21 and FY-22 shows a decrease of 85.78% from Rs 69.35 crore to Rs 9.86 crore. The total income went down by 65.58% for the entire year from Rs 206.12 crore in FY-21 to Rs 70.93 crore during FY-22.
The net loss incurred by the company in the fourth quarter of FY-22 was Rs 39.03 crore. This translates to a 74.88% YoY drop in the company’s loss from Rs 155.44 crore recorded for Q4 of FY-21. CMI reported a net loss of Rs 142.89 crore for the entire FY22, which is a reduction of 26.56% from Rs 194.60 crore registered during FY21.
Quarter-wise Comparison of CMI’s Financials: Q3 FY-22 vs Q4 FY-22
Comparing the company’s financials QoQ reveals that the total income fell by 36.01% to Rs 9.86 crore in Q4 from Rs 15.40 crore during Q3 of FY-22.
Net Loss recorded by CMI rose 3.5 times to Rs 39.03 crore from during Q4 FY22 in comparison to Rs 11.25 crore loss in Q3 FY22.
About CMI Ltd.: CMI Limited is an Indian company which designs and manufactures electrical wires, cables and conductors. The company has two manufacturing units, one in Faridabad, Haryana and the other in Baddi, Himachal Pradesh. Some of the products by CMI include EHV power cables, MV/HV power cables, Aerial Bunched Cables, LV power and control cables, Railway cables, Fire survival cables, Thermocouple cables, Building wires, Bare conductors, Instrumentation cables and Speciality cables.