CMICABLES - CMI
📢 Recent Corporate Announcements
CMI Limited has announced the 41st meeting of its Committee of Creditors (CoC) scheduled for February 20, 2026. This meeting is a part of the ongoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code. The high number of meetings (41st) indicates a prolonged and complex resolution process for the company. Equity shareholders should remain cautious as insolvency proceedings often result in significant value erosion or total loss for retail investors.
- 41st meeting of the Committee of Creditors (CoC) scheduled for February 20, 2026
- Company is currently undergoing Corporate Insolvency Resolution Process (CIRP)
- Disclosure made pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015
- The meeting involves critical discussions regarding the future of the Corporate Debtor
Mr. Pyare Lal Khanna has resigned from his position as a Non-Executive Director at CMI Limited, effective February 10, 2026. The resignation is attributed to his personal pre-occupation, with the director confirming there are no other material reasons for his departure. Notably, the resignation was submitted to and accepted by the company's Resolution Professional, as the firm is currently undergoing insolvency proceedings. This board change occurs while the company remains under the Corporate Insolvency Resolution Process (CIRP).
- Mr. Pyare Lal Khanna resigned as Non-Executive Director effective February 10, 2026.
- The resignation letter cited 'pre-occupation' as the primary reason for leaving the board.
- The resignation was accepted by the Resolution Professional, indicating the company's ongoing insolvency status.
- The outgoing director holds no other directorships or committee memberships in other listed entities.
- The disclosure was made under Regulation 30 of SEBI (LODR) Regulations, 2015.
CMI Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the period ended December 31, 2025. The certificate, issued by Beetal Financial & Computer Services (P) Ltd, confirms that all share certificates received for dematerialization were processed within the mandated 15-day timeframe. This filing ensures that the company's register of members is accurately updated with the depositories. As a standard regulatory requirement, it confirms the integrity of the shareholding process but does not impact financial performance.
- Compliance certificate submitted for the quarter ended December 31, 2025.
- RTA confirmed that dematerialization requests were processed and confirmed to depositories.
- Security certificates were mutilated and cancelled within the 15-day regulatory limit.
- The filing covers both BSE (517330) and NSE (CMICABLES) listings.
CMI Limited has submitted its quarterly compliance certificate for the period ending December 31, 2025, in accordance with SEBI (Depositories and Participants) Regulations. The filing confirms that the company's Registrar and Share Transfer Agent, Beetal Financial & Computer Services, processed all dematerialization requests within the stipulated timeframes. It verifies that physical share certificates were mutilated and cancelled after due verification. This is a standard administrative procedure to ensure the accuracy of the company's electronic shareholding records.
- Compliance certificate submitted for the quarter ended December 31, 2025.
- RTA Beetal Financial confirms all dematerialization requests were processed and listed on exchanges.
- Physical certificates were mutilated and cancelled within the mandatory 15-day window.
- Depositories have been substituted in the register of members as the registered owners.
CMI Limited has announced the 40th meeting of its Committee of Creditors (CoC) scheduled for January 19, 2026. The company is currently undergoing the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code. This high number of meetings suggests a prolonged and complex resolution timeline for the debt-ridden company. Equity shareholders should remain cautious as the outcome of these meetings directly impacts the company's survival and share value.
- 40th meeting of the Committee of Creditors (CoC) to be held on January 19, 2026
- Company is currently under the Corporate Insolvency Resolution Process (CIRP)
- Disclosure made under Regulation 30 of SEBI (LODR) Regulations, 2015
- Management remains under the control of the Resolution Professional during this process
CMI Limited, which is currently undergoing the Corporate Insolvency Resolution Process (CIRP), has scheduled its 39th Committee of Creditors (CoC) meeting for December 30, 2025. This meeting is part of the ongoing legal proceedings to resolve the company's outstanding debts under the Insolvency and Bankruptcy Code. The high frequency of meetings (39th iteration) suggests a complex and prolonged resolution process. Equity shareholders remain at significant risk as the outcome of these proceedings will determine the company's future viability.
- 39th meeting of the Committee of Creditors (CoC) scheduled for December 30, 2025
- Company is currently under the Corporate Insolvency Resolution Process (CIRP)
- Disclosure made pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015
- Meeting follows requirements of sub-clause 16(g) of Clause A of Part A of Schedule III
CMI Limited held its 58th Annual General Meeting on December 26, 2025, chaired by the Resolution Professional as the company is currently under the Corporate Insolvency Resolution Process (CIRP). Shareholders approved the Audited Financial Statements for the financial year ended March 31, 2023, along with the reports of the Auditors and Board of Directors. Additionally, the appointment of statutory auditors was ratified through an ordinary resolution. The company continues to be managed by the Resolution Professional following the NCLT order dated July 28, 2023.
- 58th AGM concluded on December 26, 2025, with resolutions passed via remote e-voting and e-voting at the meeting.
- Adoption of Audited Financial Statements for the financial year ended March 31, 2023, was approved.
- Ratification of the appointment of statutory auditors was passed as an ordinary resolution.
- The company remains under CIRP following an application by Canara Bank admitted by the NCLT.
- Voting was based on the cut-off date of December 19, 2025, with the remote e-voting period ending on December 25, 2025.
CMI Limited held its 58th Annual General Meeting on December 26, 2025, chaired by Resolution Professional Deepak Maini. The company is currently undergoing the Corporate Insolvency Resolution Process (CIRP) following an NCLT order dated July 28, 2023. Shareholders approved the adoption of Audited Financial Statements for the financial year ended March 31, 2023. Additionally, the appointment of statutory auditors was ratified during the proceedings.
- 58th AGM successfully concluded on December 26, 2025, under the supervision of the Resolution Professional.
- Shareholders adopted the Audited Financial Statements for the fiscal year ended March 31, 2023.
- Ratification of the appointment of statutory auditors was passed as an ordinary resolution.
- The company remains under CIRP following an application by Canara Bank under Section 7 of the IBC.
- Voting results were based on remote e-voting held between December 23 and December 25, 2025.
CMI Limited has announced the dispatch of the notice for the 58th Annual General Meeting (AGM) along with the Annual Report for FY 2024-25 to its members. The announcement includes information on remote e-voting facility and book closure. The notice was published in Financial Express and Jansatta on December 04, 2025, in compliance with Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- Notice of 58th Annual General Meeting
- Annual Report for FY 2024-25
- Remote e-voting information
- Book Closure information
- Published in Financial Express on December 04, 2025
CMI Limited is holding its 58th Annual General Meeting on December 26, 2025, via video conferencing. Shareholders can cast their votes electronically from December 23 to December 25, 2025. The remote e-voting is available for shareholders holding shares as of December 19, 2025. The company's annual report for FY 2024-25 is available on their website.
- 58th Annual General Meeting on December 26, 2025 at 01:00 p.m.
- Remote e-voting commences on December 23, 2025 (09:00 a.m.)
- Remote e-voting ends on December 25, 2025 (05:00 p.m.)
- E-voting eligibility: Shareholders as on December 19, 2025
Financial Performance
Revenue Growth by Segment
Total revenue for FY25 was INR 58.08 Cr. Sales of products grew by 97.6% YoY, increasing from INR 29.08 Cr in FY24 to INR 57.46 Cr in FY25. However, this remains significantly below the FY20 revenue of INR 511.24 Cr, representing an 88.6% decline over five years.
Profitability Margins
Net profit margin for FY25 was -18.99%, an improvement from -27.98% in FY24. Historically, the company maintained a net margin of 7.2% in Q3 Dec 2015. The current negative margins are driven by higher net losses of INR 11.03 Cr in FY25 compared to INR 8.33 Cr in FY24.
EBITDA Margin
EBITDA margin was 14.5% in Q3 Dec 2015 (INR 9.71 Cr). However, the company reported a net operating loss of INR 20.60 Cr in FY21 and continued operating losses in FY25, evidenced by a negative interest coverage ratio of -11.79x.
Credit Rating & Borrowing
Liquidity is rated as 'Poor' due to a squeeze from lockdown impacts. The company was granted a moratorium on interest and installments by lenders and secured ad-hoc limits of INR 7.50 Cr. Interest coverage is severely stressed at -11.79x.
Operational Drivers
Raw Materials
Copper, Aluminum, and PVC/Polymers are the primary raw materials for cable manufacturing; specific cost percentages for each are not disclosed.
Manufacturing Efficiency
Inventory turnover ratio (x) improved to 5.46x in FY25 from 2.94x in FY24, an 85.49% increase, indicating improved movement of stock despite insolvency proceedings.
Strategic Growth
Growth Strategy
The company aims for recovery through the Corporate Insolvency Resolution Process (CIRP) and by leveraging its niche product approvals from Indian Railways and PSUs, which act as high entry barriers (1-4 year qualification period).
Products & Services
Niche cable products supplied to Indian Railways, State Electricity Boards (SEBs), BHEL, NTPC, and oil refinery companies.
Brand Portfolio
CMI
External Factors
Industry Trends
The industry is shifting toward niche cable products with stringent pre-qualification criteria for government projects, creating a 1 to 4-year entry barrier for new players.
Competitive Landscape
The landscape is characterized by high competition from organized and unorganized players, which limits the company's ability to pass on cost increases.
Competitive Moat
Moat is sustainable due to the long lead time (1-4 years) required for new entrants to gain approvals from key government bodies like Indian Railways and NTPC.
Macro Economic Sensitivity
High sensitivity to economic lockdowns and disruptions, which led to a net loss of INR 194.60 Cr in FY21 compared to a profit of INR 3.70 Cr in FY20.
Consumer Behavior
B2B demand is driven by government infrastructure spending and PSU procurement cycles.
Regulatory & Governance
Industry Regulations
Operations are governed by stringent pre-qualification criteria and quality standards set by Indian Railways, SEBs, BHEL, and NTPC.
Legal Contingencies
The company is under the Corporate Insolvency Resolution Process (CIRP) as of November 2025. Powers of the board are suspended, and Deepak Maini has been appointed as the Resolution Professional.
Risk Analysis
Key Uncertainties
The primary uncertainty is the outcome of the CIRP and the company's ability to restore its current ratio, which stands at a critically low 0.22.
Credit & Counterparty Risk
High credit risk exposure due to a 100% B2B model and long debtor cycles, with debtors turnover ratio at 11.36 months in FY25.