Cummins India - Q2 FY13 Results First Cut - Microsec

Cummins India announced its Q2FY13 results on 8th November, 2012.

The company arrived at net sales at INR1068.34 crore, which was down by 0.14% and 13.94% on YoY and QoQ basis. The EBITDA for the quarter was INR199.2 crore, which was down by 14.01% on QoQ basis, but up by 13.65% on YoY basis. The EBITDA Margin was marginally down by 8bps on QoQ basis, but up by 226bps on YoY basis. The company posted a net profit of INR160.94 crore, which was down by 10.86% on QoQ basis, but up by 25.17% on YoY basis.

Hence, at the CMP of INR483.35, we recommend a BUY with the target price of INR537.

Source : Equity Bulls

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