Cummins India Q1 Net Profit down marginally at Rs 210 crore
Manjiri Meshram / 07 Aug 2015
The net sales of the company for the quarter ended June 30, 2015 stood at Rs 1,282 crores grew by 24 per cent as compared to the same period last year. The Domestic sales grew by 17 per cent compared to the same period last year.
Cummins India is a manufacturing company that manufactures diesel engines. The company caters to the Power Generation, Industrial and Automotive Markets and also to the growing market for gas and dual fuel engines. The company provides diesel and gas engines, products, packages, services and solutions for up time of Cummins equipments.
The net sales of the company for the quarter ended June 30, 2015 stood at Rs 1,282 crores grew by 24 per cent as compared to the same period last year. The Domestic sales grew by 17 per cent compared to the same period last year. The company's total income has grown up 25.75 per cent to Rs 1,314.31 crore during the quarter as compared to Rs 1,045.14 crore in the same period last year. Revenue growth led by continued momentum seen in exports segment growth especially in low HP gensets. The exports increased by 36 percent as compared to the same period of last year. The power gensets contributed around 23 percent of sales, continued softness while domestic demand remained constrained, given the weak macro environment and lower power deficit.
The total expenses increased by 26.34 per cent to Rs 1116.69 crore y-o-y basis. EBITDA grew by 21.18 per cent year-on-year to Rs 217.95 crore but EBITDA margin contracted by 63 basis points to 16.58 per cent in first quarter of FY16. The fall in margin due to increased import content in CPCB II compliant engines, price cut or price roll back which the company has taken to regain its market share & has been successful in the same and increase in the competitive intensity in the domestic market.
A marginal decline of 0.59 per cent in its net profit to Rs 210.73 crore during the quarter ended June 30, 2015 against Rs 212 crore posted over the same period last year due to reduce in other income income by 44 per cent.
Anant J Talaulicar, chairman & managing director, Cummins India said, "Our Power Generation business grew 23 per cent over the previous quarter as we improved our market share. The Industrial business was flat quarter on quarter, but has grown 22 per cent based on improving government led infrastructure investments."
During the Quarter company changed its shareholding pattern, FII holding reduced by 110 basis points to 16.91 per cent and DII holdings increased by 88 basis points to 18.19 per cent.
Today after the result announcement company is trading around 1 per cent higher at Rs 1212.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.