Friday, August 3, 2012

Cummins India Limited - First quarter results - Q1 FY 2013 - NET SALES UP 21.47% YoY; NPT UP 2% YoY;


Cummins India Limited

First quarter results
Q1 fy 2013

CUMMINS INDIA LIMITED has declared its results for the first quarter ending June 2012. The High Lights are as below :

Net Sales stands at Rs.1241.36 Cr in QE Jun2012; up by 21.55% from Q4 FY 12 (Rs.1021.28 Cr); and up by 21.47% from Q1 FY 12 (Rs.1021.93 Cr).

Total Expenditure stands at Rs.1037.65 Cr in QE June 2012; up by 21.01% from Q4 FY 12 (Rs.857.48 Cr); and up by 19.4% from Q1 FY 12 (Rs.869.02 Cr); Expenditure has grown but LESS THAN  proportionately compared to Net Sales.

Profit before Interest, Dep. & Taxes stands at Rs.203.71 Cr in QE June 2012; up by 24.37% from Q4 FY 12 (Rs.163.80 Cr); and up by 33.22% from Q1 FY 12 (Rs.152.91 Cr).

Net Profit stands at Rs. 180.55 Cr in QE June 2012; up by 24.89% from Q4 FY 12 (Rs.144.57 Cr); but up by just 1.91% from Q1 FY 12 (Rs.177.17 Cr). At NPT level, YoY improvement is marginal due to Higher Taxes Depreciation etc.

Diluted EPS stands at Rs.6.51 for Q1 FY 13; Rs.5.22 for Q4 FY 12; and Rs.8.95 for Q1 FY 12.
52 week high/low price : 651.00/322.00

Current MP : Rs.464.75; The annualized EPS comes to Rs.26.04. The PE Ratio works out to 17.85.

ABOUT THE COMPANY :
Cummins' presence in India stems from a joint venture incorporated in 1962. Ground was broken for a factory in Pune the same year and the plant began manufacturing engines at the beginning of 1964. In 1997, Cummins Inc. increased its stake to 51 percent with the rest being traded on the Bombay Stock Exchange. With this the joint venture became a consolidated subsidiary of Cummins Inc. and continues till date as Cummins India Limited. By 2004, Cummins had formed multiple legal entities in India including joint ventures.
Today, eight legal entities of the Group represent all of the Cummins global business units. Having expanded its business across markets and geographies, the Group spans 200 locations in the country and employs close to 14,000 individuals. Cummins in India reported combined sales of approximately Rs. 10,500 crores in 2011.
Cummins in India designs, manufactures, distributes and services engines, generators and related technologies. Its technology and pioneering initiatives bring innovative solutions and dependable services at the best possible value to users across the country.

RESULTS TABLE (Rs.in Lakhs)

Cummins India Ltd
30-Jun-12
QoQ % dif
31-Mar-12
YoY % Dif
30-Jun-11
Net Sales
124136
21.55
102128
21.47
102193
Total Expenditure
103765
21.01
85748
19.4
86902
Profit before Interest, Dep. & Taxes
20371
24.37
16380
33.22
15291
Net Profit
18055
24.89
14457
1.91
17717
Diluted EPS
6.51
24.71
5.22
-27.26
8.95
Net Sales
124136
21.55
102128
21.47
102193
Cost of materials
78298
21.58
64403
25.45
62413
Purchases of SIT
4776
-14.09
5559
-26.75
6520
Employee benefits
8466
4.56
8097
21.38
6975
Depreciation
1139
-4.04
1187
21.82
935
Other expenses
14439
28.35
11250
21.74
11861
Total expenses
103765
21.01
85748
19.4
86902
Profit before tax
25824
26.01
20494
6.17
24323
Tax Expenses
7769
28.69
6037
17.61
6606
Net Profit
18055
24.89
14457
1.91
17717
Face Value of Share (inRs )
2
0
2
0
2
Paid-up Equity
5544
0
5544
40
3960
Diluted EPS (in Rs)
6.51
24.71
5.22
-27.26
8.95
Public Shareholding (%)
49
0
49
0
49

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