The financial year 2018-19 has begun on a very growth and achievements for yourCompany.
In FY 2018-19 the top-line of our Company grew up by 13.79% to Rs.637.29 Crores ascompared to Rs. 560.06 Crores in FY 2017-18. EPS has also gone up by 73.86% to Rs.29.91 inFY 2018-19 as compared to Rs. 17.20 in FY 2017-18 on account of reversal of the taxprovisions earlier made upon approval of amalgamation Energy India Private Limited withthe Company. At present our Company is continuously excellence in a highly volatilemarket. The focus is on restructuring in all areas of businesses whether it is salesR&D product innovation or investment. Our Company is taking concrete and effectivesteps to consolidate its position in the Cable industry .The underlying philosophy of ourCompany is to grow in a manner that is sustainable for at competitive pricing. Itsstakeholders employees and the community at large.
The Company succeeded to get fresh approvals from various prospective customers for theBaddi plant. These include RDSO Power Grid Corporation BHEL Airports Authority of IndiaLimited Mazagon Dock Shipbuilders Ltd Jawaharlal Nehru Port Trust and more. Thus thecapacity improve for growth. Supportedby It was a matter of great honor for us when ourCompany secured its presence on the global platform for the Baddi Plant. The Company gotbulk export order from Mauritiusfor the supply of XLPE LV/HV underground Power Cables. Thetrial orders executed in many other countries also converted in tremendous results. Ridingon the performance of these trial orders we look at higher overseas business in futureyears. Another significant event occurred in April 2019 when hon'ble NCLT approved thescheme of amalgamation for CMI Energy India Private Limited into CMI Limited to merge ourbusinesses. Both companies and their plants now operate under CMI Limited. This mergerwill help the Company to strengthen its business focus leading to better accountingprocedures.
CMI's rating is now upgraded to CRISIL BBB+ (Triple of CMI B Plus) / Positive to theLong Term Bank Facilities CARE BBB+ (Triple B Plus) stable and CRISIL A2 to Short TermBank Facilitiesstriving for Three Plus) to the short term bank facilities. Our business ishighly working capital intensive and fund requirement assumes great importance in ourscheme of things to help us grow at a steady pace this development will help the Companyin borrowing loans and advances from financial institutions With the incumbent newGovernment keen to pursue infrastructure reforms at an accelerated pace the opportunitiesare exciting and immense. In this dynamic landscape CMI Limited is fully geared to makethe most of the unfolding developments. The Company is well on its way to a brightertomorrow. Our future expansion plans include among other plans making a foray into theburgeoning retail business in India.
A detailed plan is being worked out and strategies are being put in place to enter thisspace with a big bang. We will share more news in this regard with you as and when we areready with it. At this point let me express my deepest gratitude to our Board ofDirectors & our esteemed shareholders partners employees clients and Governmentsacross the country as also every stakeholder who is committed to the cause of making thisCompany achieve greater heights of success now and in the future. May I also take thisopportunity to recommend a final dividend of Re.1 per equity share for the financial ended31 March 2019. To conclude let me say that your unflinching motivator for Team CMI and itis our constant endeavour to drive our Company forward in a sustained and responsiblemanner. I am confident that the Company will cross many new milestones in the years tocome by leveraging its strengths and by tapping-in on newopportunities.at Baddi plantThank you once again for the trust and confidence reposed on CMI.
Chairman cum managing Director