Cummins India Limited = FY 2011 AND Q4 FY 2011 RESULTS = BASIC EPS RS.29.85 FOR FY 11 ON FV OF RS.2 (FY 10 : RS.22.42)

Cummins India Limited

NSE Symbol        CUMMINSIND

Cummins India Limited has performed reasonably well in FY 11 and also in Q4 of FY 11.

·         Net Sales in FY 11 is Rs.3945.44 cr – up by a good 38.69% compared to FY 10.

·         The Q4 sales is Rs. 1009.56 cr – up by 5.34% from previous qtr of Q3 FY 11 and by 30.71% from corresponding Qtr of Q4 FY 10.

·         Total Expenditure in FY 11 is Rs.3318.60 cr – up by 41.01% from FY 10 (more than proportionate increase).   

·         The Q4 expenditure is Rs.873.37 cr – up by 6.25% from Q3 FY 11 and up by 37.08% from Q4 FY 10.

·         Profit from Operations for FY 11 is Rs.742.57 cr – up by 36.11% from FY 10.

·         The OPT for Q4 FY 11 is Rs.175.91% - up by 3.15% from Q3 FY 11 and up by 16.37% from Q4 FY 10.

·         Profit before tax for FY 11 is Rs.802.37 cr – up by 33.53% from FY 10.

·         The Q4 PBT is Rs.196.42 cr – up by 8.83% from Q3 FY 11 and up by  19.35% from Q4 FY 10.

·         Net Profit for FY 11 is Rs.590.99 cr – up by 36.21% from FY 10.

·         The Q4 NPT is Rs.143.97 cr – up by 3.65% from Q3 FY 11 and up by 21.69% from Q4 FY 10.

·         The Basic EPS for FY 11 is Rs.29.85 on a FACE Value of Rs.2, compared to Rs.22.42 in FY 10.

·         The Basic EPS for Q4 FY 11 is Rs.7.27, compared to Rs.7.02 in Q3 FY 11; Rs.8.48 in Q2 FY 11; Rs.7.08 in Q1 FY 11; and Rs.5.98 in Q4 FY 10.

·         The Sales and profitability of Cummins are thus growing gradually.

·         Current MP is Rs.690. At the current EPS of Rs.30, the PE Ratio works out to 23. In a normal market, Cummins can offer good appreciation for medium to long term investors.

RESULTS TABLE :

CUMMINS	FY 11	FY 10	Q4FY11	Q3FY11	Q2FY11	Q1FY11	Q4FY10
Net Sales	394544	284487	100956	95835	106752	91001	77237
Other oprtg Income	11573	5416	3972	3417	2391	1793	1592
Increase in SIT/WIP	-4828	1970	-3670	29	3645	-4832	286
Raw Materials	240404	173212	63348	57836	62241	59436	46994
Traded goods	22459	10334	8144	5802	3398	2658	3058
Employees Cost	25463	19527	7014	6432	6722	5295	5093
Depreciation	3664	3608	894	910	929	931	976
Other Expenditure	44698	26696	11607	11189	11413	10489	7306
Total Expenditure	331860	235347	87337	82198	88348	73977	63713
Profit from Operations	74257	54556	17591	17054	20795	18817	15116
Other Income	6170	5740	2128	1026	2051	965	1376
Interest	190	205	77	31	41	41	34
Profit before tax	80237	60091	19642	18049	22805	19741	16458
Tax Expense	21138	16704	5245	4159	6016	5718	4627
Net Profit	59099	43387	14397	13890	16789	14023	11831
Dividend (%)	-	300	400	-	-	-	300
Face Value (in Rs.)	2	2	2	2	2	2	2
Paid-up Equity	3960	3960	3960	3960	3960	3960	3960
Reserves	176606	152140	-	-	-	-	-
Basic EPS(in Rs.)	29.85	22.42	7.27	7.02	8.48	7.08	5.98
Public Holding (%)	49	49	49	49	49	49	49

ANNOUNCEMENTS TO NSE

31-05-2011          Cummins India Limited has informed the Exchange regarding a press release dated May 30, 2011, titled "Cummins India Limited (CIL) sales for Q4 2010-11 up 30% , Net Profit Before Tax up 19%".          

31-05-2011          Cummins India Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on May 30, 2011 have recommended final dividend of Rs.8/- (Eight) per share on equity shares of Rs.2/- each fully paid up for the year ended March 31, 2011, in addition to the interim dividend of Rs.7/- per share declared on February 03, 2011. The dividend warrants for the said final dividend (subject to approval of shareholders) will be dispatched by August 26, 2011 and the final dividend will be paid on August 29, 2011.             -

30-05-2011          Cummins India Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 394544 lacs for year ending on 31-MAR-2011 against Rs. 284487 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 59099 lacs for the year ending on 31-MAR-2011 against Rs. 43387 lacs for the year ending on 31-MAR-2010.

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