CUMMINS INDIA Announces Quarterly Results (2QFY19); Net Profit Up 38.4%

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CUMMINS INDIA Announces Quarterly Results (2QFY19); Net Profit Up 38.4%
Tue, 6 Nov

CUMMINS INDIA has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

CUMMINS INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m11,53913,28014,86912.0%28.9%
Other incomeRs m53669678512.8%46.3%
TurnoverRs m12,07513,97515,65412.0%29.6%
ExpensesRs m9,86411,13312,36011.0%25.3%
Gross profitRs m1,6752,1472,50916.9%49.8%
DepreciationRs m2202712741.1%24.3%
InterestRs m38364011.8%5.3%
Profit before taxRs m1,9532,5362,98017.5%52.6%
TaxRs m42470686522.4%103.9%
Profit after taxRs m1,5291,8302,11615.6%38.4%
Gross profit margin%14.516.216.9
Effective tax rate%21.727.829.0
Net profit margin%12.713.113.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 28.9% on a year-on-year (YoY) basis. The expenses were up by 25.3% YoY during the same period.
  • The company's operating profit increased by 49.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.9% in 2QFY19 as against 14.5% in 2QFY18.
  • Depreciation charges increased by 24.3% and finance costs increased by 5.3% YoY, respectively.
  • Other income increased by 46.3% YoY during the quarter.
  • Net profit for the quarter increased by 38.4% YoY. Net profit margins during the quarter increased from 12.7% in 2QFY18 to 13.5% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 12.0% on a quarter-on-quarter (QoQ) basis. The expenses were up by 11.0% QoQ during the same period.
  • The company's operating profit increased by 16.9% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.9% in 2QFY19 as against 16.2% in 1QFY18.
  • Net profit for the quarter increased by 15.6% QoQ, while net profit margins increased from 13.1% in 1QFY18 to 13.5% in 2QFY19.

To see how CUMMINS INDIA has performed over the last eight quarters, please visit here.

CUMMINS INDIA Share Price Performance

Over the last one year, CUMMINS INDIA share price has moved up from Rs 901.8 to Rs 774.3, registering a Loss of Rs 127.5 or around 14.1%.

Meanwhile, the S&P BSE CAPITAL GOODS Index is trading at Rs 18,090.3 (up 0.2%). Over the last one year it has moved down from 18,531.6 to 18,090.3, a gain of 441 points (down 2.4%).

Overall, the S&P BSE SENSEX is up 4.1% over the year.

Current Valuations

At the current price of Rs 774.3, the price to earnings (P/E) ratio of CUMMINS INDIA stands at 29.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 5.2 times.

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