Cummins India Q1FY13 Result - First Cut - Microsec Research

Cummins India announced its Q1FY13 results on 2nd August, 2012.

The company's result arrived much above our estimates for Q1FY13. The Company's Net Sales arrived at INR1241.36 crore, which increased by 21.55% on YoY basis and 21.55% on QoQ basis. *The EBITDA for the quarter was INR232.49 crore, which increased significantly by 19.75% on YoY basis and 25.77% on QoQ basis. The EBITDA Margin was down by mere 19bps on YoY basis, but was up by 85bps on QoQ basis.. The net profit was surprisingly up at INR180.55 crore, which shows a staggering growth of 24.89% on YoY basis and 25.41% on QoQ basis.

Hence, with the impressing figures for the Q1FY13, we continue a "BUY" rating on Cummins India with a target price of INR537.

Source : Equity Bulls

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