CMI Limited (CMICABLES) AI Stock Analysis

• Market Cap: ₹69.88M
• Dividend Yield: N/A
• Average Volume (3M): 1.18K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.13
• Revenue Growth: 254.90%
• EPS Growth: -150.80%
• Country: IN
• Employees: 16
• Sector: Services
• Sector Strength: N/A
• Industry: Electrical Equipment & Parts
• EPS (TTM): N/A
• Shares Outstanding: 16,027,456
• 10 Day Avg. Volume: 1,042
• 30 Day Avg. Volume: 1,184
• PEG Ratio: -0.02
• Price to Book (P/B): -0.04
• Price to Sales (P/S): 0.10
• P/FCF Ratio: -0.73
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 45 Neutral
• Price Target: ₹5.00 ▲(37.74% Upside)
• Action: N/A Date: 11/17/25
• Date: Action: N/A 11/17/25

CMI Limited's overall stock score is primarily impacted by its poor financial performance, characterized by significant losses and high leverage. While technical indicators show strong momentum, the overbought condition suggests caution. The negative P/E ratio and lack of dividend yield further weigh down the valuation score.

Positive Factors

High Revenue Growth

Exceptional reported revenue growth indicates strong market traction in core cable markets. Sustained top-line expansion can enable scale economics and better absorption of fixed costs over months, supporting eventual margin recovery if operational inefficiencies are addressed.

Diversified Revenue Streams

Multiple sales channels plus contracts with major telecom customers reduce client concentration and provide recurring bulk-order opportunities. This structural diversification supports steadier demand across cycles and gives management options to prioritize higher-margin channels.

R&D focus and broad product mix

An explicit R&D emphasis and a wide product portfolio across fiber, coaxial and power cables create product differentiation and adaptability to technology shifts. Over several months this supports winning customized contracts and sustaining competitive advantage versus commodity suppliers.

Negative Factors

Balance sheet weakness

Material negative equity and high leverage materially constrain financial flexibility. Over a multi-month horizon this raises refinancing and covenant risks, limits ability to fund operations or capex internally, and increases vulnerability to supply or demand shocks.

Negative operating and free cash flow

Persistent negative operating and free cash flow weaken liquidity and force dependence on external funding. In the coming months this can restrict working-capital support for large contracts, raise financing costs, and hinder investments needed to convert revenue growth into sustainable profits.

Persistent negative margins and losses

Negative gross and net margins despite strong revenue growth indicate structural cost or pricing issues. Without operational restructuring or pricing power improvements, top-line gains may not translate to profitability, threatening long-term viability and ability to deleverage.

CMI Limited Business Overview & Revenue Model

Company Description

CMI Limited engages in the business of manufacture of wires and cables worldwide. The company offers various type of cables, such as quad, railway signaling, fire survival, fire retardant low smoke zero halogen, flexible multi-core copper shielded abrasion resistant thermoplastic polyurethanes sheathed, polythene insulated jelly filled telecom, fire alarm, communication, ethylene propylene rubber, chloro-sulfonated polyethylene, polychloroprene, silicon, Industrial wiring, instrumentation and control, aerial bunch, low voltage, high voltage, and extra high voltage cables, as well as low, high, and extra high voltage power cables. It also provides flexible and building wires; and bare conductors. CMI Limited serves various industries, including Railways and Metros, Oil and Gas, Petrochemical, Space Research, Nuclear Power, Solar Power, Defence, Mobility, Power Generation, Transmission and Distribution, Cement, Mining, Heavy Industries, Infrastructure, EPC Contractor, Telecom, Steel, etc. The company was formerly known as Choudhari Metal Industries Pvt Ltd. CMI Limited was incorporated in 1967 and is based in Delhi, India.

How the Company Makes Money

CMI Limited generates revenue primarily through the sale of its cable and wire products to various industries, including telecommunications, construction, and electrical distribution. The company benefits from multiple revenue streams, including direct sales to manufacturers, wholesalers, and retailers, as well as contracts with major telecom companies for bulk supply. Additionally, CMICABLES engages in partnerships with technology firms to develop specialized products, which further diversifies its offerings and enhances its market position. The company's focus on quality and innovation allows it to command competitive pricing, contributing significantly to its profitability.

CMI Limited Financial Statement Overview

Summary

CMI Limited is facing significant financial difficulties. Despite strong revenue growth, the company struggles with profitability and cash flow generation. High leverage and negative equity further exacerbate financial risks, indicating a need for strategic restructuring to improve financial health and sustainability.

Income Statement

CMI Limited's income statement reveals significant challenges. The company has experienced negative profit margins across the board, with a gross profit margin of -12.82% and a net profit margin of -19.20% in the latest year. Despite a substantial revenue growth rate of 171.34%, the company continues to incur losses, indicating inefficiencies in cost management and operational challenges.

Balance Sheet

The balance sheet shows a concerning financial structure, with a negative stockholders' equity of -1,464.42 million and a high debt-to-equity ratio of -2.60. This indicates significant leverage and financial instability. The return on equity is positive at 7.53%, but this is due to the negative equity, which distorts the metric.

Cash Flow

Cash flow analysis highlights severe issues, with negative operating cash flow of -76.24 million and free cash flow of -78.08 million. The free cash flow to net income ratio is slightly above 1, suggesting that cash flow is not improving despite net losses. The company faces challenges in generating positive cash flow, impacting its liquidity and operational flexibility.

Breakdown	TTM	Mar 2025	Mar 2024	Sep 2023	Mar 2022	Jun 2021
Income Statement
Total Revenue	211.77M	574.62M	290.80M	220.36M	677.48M	2.02B
Gross Profit	33.49M	-73.67M	49.44M	-100.62M	-103.06M	-31.39M
EBITDA	-11.86M	-101.69M	-7.89M	-1.07B	-1.27B	-1.61B
Net Income	-64.81M	-110.32M	-83.26M	-1.10B	-1.43B	-1.95B
Balance Sheet
Total Assets	3.20B	3.03B	3.20B	3.15B	4.36B	5.76B
Cash, Cash Equivalents and Short-Term Investments	63.25M	2.53M	63.25M	12.16M	32.47M	189.18M
Total Debt	3.82B	3.81B	3.82B	3.83B	4.10B	3.13B
Total Liabilities	4.55B	4.50B	4.55B	4.42B	4.53B	4.51B
Stockholders Equity	-1.36B	-1.46B	-1.36B	-1.27B	-169.35M	1.25B
Cash Flow
Free Cash Flow	41.95M	-78.08M	56.95M	125.23M	-760.83M	-55.10M
Operating Cash Flow	41.95M	-76.23M	57.09M	135.39M	-760.77M	-53.10M
Investing Cash Flow	0.00	64.55M	-39.39M	146.72M	161.42M	74.49M
Financing Cash Flow	0.00	1.11M	-11.74M	-278.88M	531.25M	316.85M

CMI Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.63
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:CMICABLES, the sentiment is Negative. The current price of 3.63 is below the 20-day moving average (MA) of 4.90, below the 50-day MA of 5.35, and below the 200-day MA of 4.11, indicating a neutral trend. The MACD of -0.24 indicates Positive momentum. The RSI at 6.34 is Positive, neither overbought nor oversold. The STOCH value of >-0.01 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:CMICABLES.

CMI Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CORDSCABLE	76 Outperform	₹2.17B	13.24	―	0.52%	26.59%	42.18%
VETO	70 Outperform	₹1.92B	8.29	―	0.86%	7.26%	19.13%
DYCL	61 Neutral	₹14.03B	16.97	―	0.07%	28.58%	54.67%
BCP	57 Neutral	₹120.06M	6.73	―	―	―	―
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
CMICABLES	45 Neutral	₹69.88M	-0.33	―	―	254.90%	-150.80%