Cummins India Ltd Share Price – NSE /  BSE

Capital Goods-Non Electrical Equipment, Mid Cap

Prasad Kulkarni, a seasoned finance professional currently holding the position of finance controller for the company's distribution business as of date, will take charge as the interim CFO of the company.

Prasad Kulkarni, aged 44, is a postgraduate in commerce, qualified Chartered Accountant, and CISA from ICASA USA and has also completed an Executive MBA.

Kulkarni has 21 and more years of diverse experience in domains such as financial planning and analysis, consolidations, technical accounting, auditing, project management, corporate governance, capital market transactions, and cross-border deals. He has been with Cummins India Limited since July 2014 and is currently serving the company as the finance controller for the distribution business.

Prior to joining Cummins, Kulkarni worked in consulting, wherein he was involved in various audits of large MNCs and banks, compliance and governance, corporate restructuring, and capital market transactions such as FCCBs, QIPs, etc.

Cummins India is a leading manufacturer of diesel and natural gas engines. The company is engaged in the business of manufacturing, trading, and selling engines and allied activities.

The company’s standalone net profit jumped 37.16% to Rs 450.61 crore in Q2 FY25 as against Rs 328.51 crore posted in Q2 FY24. Revenue from operations was at Rs 2,448.40 crore in Q2 FY25, marking a growth of 30.82% as against Rs 1871.45 crore reported in the same quarter last year.

Shares of Cummins India fell 2.24% to currently trade at Rs 3,449 on the BSE.

Powered by Capital Market - Live News

Cummins India unveiled its advanced range of Aftermarket Solutions for back-up power gensets, construction and mining segments at the 7th edition of baumaCONEXPO India 2024.

The newly unveiled solutions include DATUM S - an extension to the innovative fuel management solutions from Cummins India, OptiNAS+ Hydraulic Oil Filter, and DG Blue Diesel Exhaust Fluid for CPCBIV+ gensets. These solutions have been developed to help customers endure the tough and demanding conditions of construction and mining operations while fully complying with the strict emission standards.

Powered by Capital Market - Live News

Cummins India announced the resignation of Ajay Shriram Patil as Chief Financial Officer of the company with effect from 09 January 2025.

Powered by Capital Market - Live News

Revenue from operations was at Rs 2,448.40 crore in Q2 FY25, marking a growth of 30.82% as against Rs 1871.45 crore reported in the same quarter last year.

Profit before tax stood at Rs 594.38 crore in second quarter of FY25, up 39.49% from Rs 426.29 crore posted in corresponding quarter previous fiscal.

Domestic sales jumped 47% YoY to Rs 2,008 crore while exports slipped 13% YoY to Rs 440 crore during the period under review.

Ashwath Ram, MD, Cummins India, said, “Indian economy continues to remain resilient despite increasingly intense geopolitical conflicts. GST collections continue to remain strong, indicating robust underlying trade activities, while other key economic indicators like IIP, PMI are pointing to a reasonable economic outlook for the year.

With stable fiscal and monetary policies, the Government’s continued emphasis on infrastructure development, and PLI-led capex, the Indian economy is on course for growth in the range of 6.8% to 7.2%, according to various estimates. Cummins India Limited continues to execute its profitable growth strategy and is well-positioned to meet the demands of its end markets.

At the same time, internationally, geopolitical risks and conflicts continue to pose uncertainty about global trade and supply chain disruptions. Effective July 1, 2024, with a complete transition to CPCB IV+ emission norms for the applicable products, the company is well-positioned and had all its products certified well ahead of the time.”

On outlook front, the company stated, the company has a strong portfolio of CPCB IV+ emission norms-compliant products to meet customer demand across the entire product range. With the transition to new emission norms, we remain cautiously optimistic about the demand outlook for the near term and optimistic about the long-term growth prospects.

Regarding exports, the company continues to work closely with its trade partners to drive growth in respective end markets. We remain cautiously optimistic about the export demand recovery as the economic and geopolitical events have impacted the end markets. With its diversified portfolio of products, company remains optimistic about the recovery in exports demand.

The company has access to latest technology, a trusted brand, wide range of incredible products, world-class manufacturing capabilities, best-in-class talent, and a customer-centric service organization with an extensive distribution and service network throughout the country and neighboring regions. The company is well positioned with a strong balance sheet and liquidity position to support profitable growth.

Meanwhile, the board has approved to seek approval of the members of the company for appointment of Cornelius O’Sullivan as a director of the company with effect from 8 November 2024.

Cummins India is a leading manufacturer of diesel and natural gas engines. The Company is engaged in the business of manufacturing trading and selling of engines and allied activities.

Powered by Capital Market - Live News