Exports mar Cummins topline - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Exports mar Cummins topline

Jul 29, 2002

Cummins India has has logged in a 29% YoY decline in net profit during 1QFY03. Lower net sales (down over 20%) were largely a result of lower exports during the quarter. This largely contributed to the decline in bottomline.

(Rs m)1QFY021QFY03Change
Net Sales1,8421,467-20.3%
Other Income 60611.7%
Expenditure1,5951,293-18.9%
Operating Profit (EBDIT)247174-29.4%
Operating Profit Margin (%)13.4%11.9% 
Interest 32-32.6%
Depreciation7361-17.3%
Profit before Tax230172-25.1%
Tax6757-16.0%
Profit after Tax/(Loss)163116-28.9%
Net profit margin (%)8.8%7.9% 
No. of Shares 39.639.6 
Diluted Earnings per share*16.411.7 
P/E Ratio 4.3 
*(annualised)   

Weak demand and high inventories in global markets affected exports and profits of the company during the qaurter. The company expects a continued lower trend in its exports atleast for next two quarters. Fgorex earnings during the quarter stood at Rs 309 m (i.e. 21% of 1QFY03 net sales).

The amalgamation of Cummins Power Solutions Limited and Power Systems India Limited with Cummins India Limited is pending due to legal formalities. As such, the financial results represent only figures of Cummins India, though the proposed amalgamation is with effect from April 1, 2002. The combined net sales of Cummins Power and Power Systems for the quarter are Rs 371 m, a growth of 25% YoY.

Cost break-up
(Rs m)1QFY021QFY03Change
Material costs1,128917-18.7%
Staff costs1941940.4%
Other expenditure274182-33.6%
Total expenditure1,5951,293-18.9%

The stock is trading at 4.3x annualised 1QFY03 earnings.

Equitymaster requests your view! Post a comment on "Exports mar Cummins topline". Click here!

  

More Views on News

CUMMINS INDIA Announces Quarterly Results (1QFY22); Net Profit Up 418.4% (Quarterly Result Update)

Aug 16, 2021 | Updated on Aug 16, 2021

For the quarter ended June 2021, CUMMINS INDIA has posted a net profit of Rs 2 bn (up 418.4% YoY). Sales on the other hand came in at Rs 12 bn (up 137.6% YoY). Read on for a complete analysis of CUMMINS INDIA's quarterly results.

CUMMINS INDIA 2020-21 Annual Report Analysis (Annual Result Update)

Aug 12, 2021 | Updated on Aug 12, 2021

Here's an analysis of the annual report of CUMMINS INDIA for 2020-21. It includes a full income statement, balance sheet and cash flow analysis of CUMMINS INDIA. Also includes updates on the valuation of CUMMINS INDIA.

CUMMINS INDIA Announces Quarterly Results (3QFY21); Net Profit Up 25.7% (Quarterly Result Update)

Feb 1, 2021 | Updated on Feb 1, 2021

For the quarter ended December 2020, CUMMINS INDIA has posted a net profit of Rs 2 bn (up 25.7% YoY). Sales on the other hand came in at Rs 14 bn (down 2.0% YoY). Read on for a complete analysis of CUMMINS INDIA's quarterly results.

Infrastructure Boom Ahead. Here are 3 Ways to Play It... (Views On News)

Aug 24, 2021

India is expected to become the third largest construction market next year. For that, it needs huge investments.

G R Infraprojects Makes a Bumper Listing on Bourses. Big Gains for IPO Investors (Views On News)

Jul 19, 2021

GR Infra shares were subscribed over 100 times in its IPO.

More Views on News

Most Popular

Infosys vs TCS: Which is Better? (Views On News)

Nov 26, 2021

In the post pandemic era, the top two IT companies in India are fighting to capture the growing demand for IT.

This Multibagger Stock Zooms 20% After Dolly Khanna Buys Stake (Views On News)

Nov 24, 2021

Shares of this edible oil company zoomed over 50% in three days after ace investor bought around 1% stake.

6 Popular Stocks that Turned into Penny Stocks (Views On News)

Nov 27, 2021

A look at popular stocks that crashed big time and never recovered, i.e. which went from 'Multibaggers to Multibeggers'.

How to Find Your Next 10-Bagger in this Market (Profit Hunter)

Nov 19, 2021

The #1 make or break factor in your portfolio you shouldn't ignore.

MobiKwik IPO Opens for Subscription Soon. Key Things to Know Before Subscribing. (Views On News)

Nov 20, 2021

The Rs 19 bn issue is set to hit the market soon.

More

Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

CUMMINS INDIA SHARE PRICE


Dec 1, 2021 (Close)

TRACK CUMMINS INDIA

  • Track your investment in CUMMINS INDIA with Equitymaster's Portfolio Tracker. Set live price alerts, get research alerts and more. Get access now...
  • Add To MyStocks

CUMMINS INDIA 5-YR ANALYSIS

COMPARE CUMMINS INDIA WITH

MARKET STATS