Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Stock Report

| More

Cummins India Limited announces results for Q2 2021-22

Posted On: 2021-10-27 22:55:43 (Time Zone: IST)

The Board of Directors of Cummins India Limited, at their meeting held today, reviewed and approved the financial results for the quarter ended September 30, 2021.

Performance Highlights (based on standalone financial results) for the quarter ended September 30, 2021:

  • Total Sales for the quarter at ₹ 1,689 Cr. increased by 48% compared to the same quarter last year and 45% compared to the preceding quarter.
  • Domestic sales at ₹ 1,250 Cr. improved by 68% compared to the same quarter last year and by 46% as compared to the preceding quarter.
  • Exports Sales at ₹ 439 Cr. improved by 10% as compared to the same quarter last year and improved by 43% as compared to the preceding quarter.
  • Profit before tax (before exceptional items) at ₹293Cr. is higher by 55% as compared to the same quarter last year and 71% as compared to the preceding quarter.
  • Profit before tax (after exceptional items) at ₹ 293 Cr. is higher by 55% as compared to the same quarter last year and 3% lower as compared to the preceding quarter.

Ashwath Ram, Managing Director, Cummins India Limited, said: As the economy rebounds post COVID-19 Wave II, we see increased demand from key segments for domestic and export markets. The pace of economic recovery is visible, with strong GST collections sustaining above Rs 1 lac crore per month. With near normal monsoon, we expect that rural demand will be sustained. Similarly, the continued focus of the government on infrastructure is helping in economic recovery. With abating COVID-19, economic recovery is visible across various economy segments, and demand in some segments has reached or exceeded the pre Covid level. On the back of strong economic rebound, we had the highest ever quarterly revenue for the quarter under review. Our domestic and export revenue recorded strong growth, both year over year and sequentially. We also saw the revival of demand in export markets.

Supply Chain remains constrained; however, there are improvements visible in some areas, especially on locally produced parts. Rising commodity prices coupled with the recent development of shortages in silicon, polymers and coal may have a cascading impact on supply chain and material cost. We continue to leverage our globally integrated supply chain to mitigate this risk and lessen the possible effect of these changes on our business.

Our number one priority continues to be the safety and well-being of our employees, serving our customers and communities.

Future Outlook:

The company is hopeful of improvement in economic activities based on:

1. The pace of vaccination in different states across India
2. The supply chain is slowly stabilizing and ramping up to meet rising demand
3. Increase in government and private capex cycle
4. Recovery in broader consumption across various market segments

Given that current market conditions continue to remain uncertain, the visibility of complete end market recovery is somewhat limited, mainly due to anticipation of Wave 3e of COVID19. Thus, the company is not providing full-year revenue guidance for FY 2022.

Shares of Cummins India Limited was last trading in BSE at Rs. 895.30 as compared to the previous close of Rs. 877.00. The total number of shares traded during the day was 50669 in over 2493 trades.

The stock hit an intraday high of Rs. 904.15 and intraday low of 874.35. The net turnover during the day was Rs. 45207936.00.

Click here to send ur comments or to

Other Headlines:

NTPC Ltd commissions Unit 4 of Nabinagar Thermal Power Project

Cigniti enhances its 5G Assurance focus with Innovate5G Partnership

Shriram Group announces Succession Plan - Board of Management to oversee Promoters Interest

BPCL bags 2 awards at FIPI Oil & Gas Awards 2021

Timex Group India Limited receives LOI for Guess and GC brand of watches

SMS Lifesciences India Ltd to divest partial stake in Mahi Drugs Pvt Ltd

Rail Vikas Nigam Ltd enters into MoU for railway projects in Kyrgyzstan

Yaarii Digital Integrated Services Ltd changes name

NMDC Ltd revises iron ore price from Nov 30, 2021

Edelweiss Financial Services announces Rs. 5,000 million Public Issue of Secured Redeemable NCDs

B N Rathi Securities Ltd fixes Dec 17, 2021 as record date for rights issue

UltraTech Cement Ltd commences mining from Bicharpur Coal Block

Wipro Recognized as 'Gold' Employer by India Workplace Equality Index (IWEI) 2021

India Pesticides Ltd allotted additional land adjacent to Sandila Plant

TCS launches Assessment and Migration Factory for AWS Mainframe Modernization

Oriental Aromatics Ltd board declares interim dividend of Rs. 1.5

Dilip Buildcon Ltd declared as Ll bidder for EPC project in Bilaspur, Himachal Pradesh

Sun Pharma arm DUSA to get $22.5 mn from Biofrontera for settlement of litigation

NIIT's subsidiary, RPS Consulting appoints Francis Jacob as President and Business Head

Maruti Suzuki India Limited increases price of EECO non-cargo variants

Abirami Financial Services India Ltd board to consider monetization of asset

BHEL wins CII-Exim Bank Platinum Awards for Business Excellence

V-Mart Retail Ltd opens one new store in Haryana

Vidli Restaurants Limited board approves rights issue at Rs. 10

Innovators Facade Systems Limited receives order from DLF Group

Infosys collaborates with One of Europe's Greenest Data Centers to accelerate Daimler's transition to Sustainable Mobility

Dharamsi Morarji Chemical Company Ltd to list in NSE from Dec 1, 2021

Fitch affirms Axis Bank at 'BB+', Outlook Negative

TCS helps AGL embrace New AI-powered Operating Model to transform Customer Experience

Dhruv Consultancy Services Limited receives LOA for project worth Rs. 5.04 crore

Arvind Ltd update on Ankur unit

Lupin launches Sciflix a mobile-friendly learning platform for post graduate students specializing in pulmonology

ICRA-assigned Credit Rating for 100.00 crore bank lines of Rane Holdings Limited

ITI Limited installs 100 KW Captive Rooftop Solar Power Plant in Lucknow, Uttar Pradesh

GIC to invest in IRB Infrastructure Developers Limited

Vishvprabha Ventures Ltd Fixes Record Date for Rights Issue of equity shares

Earum Pharmaceuticals Ltd fixes Record Date for Stock Split

ICRA upgrades credit rating of DLF Limited to [ICRA] AA- with Stable outlook

IIFL Home Finance Ltd disbursed loans over Rs. 2500crore, as on 30 September, 2021

Kotak Mahindra Bank reaches One Million FASTags Milestone

Accor renews partnership with IndiGo's 6E Rewards program to offer accelerated travel and stay benefits

Rossari Biotech Ltd. appoints Ketan Sablok as the Group Chief Financial Officer

Vedanta's Sesa Goa Iron Ore Business pledges to become carbon neutral by 2050

CL Educate liquidates third land parcel this year

Reliance Capital Ltd welcomes RBI move to resolve company's debt through IBC

Knowledge Marine & Engineering Works Ltd receives LoA from Vizag Port Trust for patrol boat

Patel Integrated Logistics Ltd board to consider rights shares allotment on Dec 2, 2021

Tatva Chintan Pharma Chem Ltd acquires land at Dahej-III GIDC Estate, Bharuch

Intec Capital Ltd accepts OTS proposal from The Bank of Maharashtra

Sayaji Hotels Ltd arm signs 8 new properties

Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020