Cummins India

₹2929 67.9 | 2.4%

WEBSITE BSE:500480 NSE : CUMMINS (I) 18 Mar, 16:01

Market Cap ₹81190 Cr.

Stock P/E 47.2

P/B 10.9

Current Price ₹2929

Book Value ₹ 269.4

Face Value 2

52W High ₹4169.5

Dividend Yield 1.3%

52W Low ₹ 2636.1

Edit Ratio

Cummins India Research see more...

Overview Inc. Year: 1962Industry: Diesel Engines

Cummins India Ltd is an India-based company, that is engaged in the enterprise of producing, trading, and selling of engines and allied activities. The Company operates through two segments: Engines and Lubes. It contains of 3 agencies, which include Engine Business, Power Systems Business and Distribution Business. Its Engine Business manufactures and markets diesel engines for off-highway programs. Its Power Systems Business presents power generation structures for prime, standby and distributes energy generation requirements. Its Distribution Business provides solutions for uptime of its equipment and engines, products, services. Its product category consists of engines, generators and energy systems and additives. Its number one merchandise are compression ignition, inner combustion engines, generator sets, and aspect or parts. It serves numerous industries, consisting of agriculture, bus, commercial power, production, marine, rail, oil and gasoline, trucking and mining.

Cummins India Share Price

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Cummins India Quarterly Results

#(Fig in Cr.)	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Net Sales	1957	2185	1934	2218	1922	2541	2319	2316	2509	3096
Other Income	69	85	87	89	90	99	100	104	105	111
Total Income	2026	2270	2021	2307	2011	2641	2419	2419	2614	3208
Total Expenditure	1667	1772	1604	1876	1575	1999	1781	1842	2025	2499
Operating Profit	359	498	418	431	436	642	638	577	589	709
Interest	5	3	7	8	7	6	6	5	3	3
Depreciation	36	35	38	36	38	42	42	44	45	49
Exceptional Income / Expenses	0	0	0	0	0	-2	0	0	0	0
Profit Before Tax	318	460	373	387	391	591	590	528	542	657
Provision for Tax	84	119	95	99	100	148	137	132	144	155
Profit After Tax	235	341	278	288	291	444	452	395	397	502
Adjustments	33	72	71	66	38	55	87	67	52	57
Profit After Adjustments	267	414	349	354	329	499	539	463	449	558
Adjusted Earnings Per Share	9.6	14.9	12.6	12.8	11.9	18	19.4	16.7	16.2	20.1

Cummins India Profit & Loss

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	4916	4720	5106	5112	5697	5191	4360	6171	7772	9000	10240
Other Income	208	120	144	162	240	259	276	254	309	379	420
Total Income	5124	4841	5251	5274	5937	5450	4636	6425	8082	9379	10660
Total Expenditure	4101	3950	4305	4380	4833	4603	3780	5294	6526	7231	8147
Operating Profit	1023	891	946	894	1104	847	856	1131	1556	2148	2513
Interest	2	10	17	15	17	21	17	12	16	27	17
Depreciation	86	81	85	94	111	121	127	136	142	159	180
Exceptional Income / Expenses	0	0	0	56	0	-20	0	132	-14	-2	0
Profit Before Tax	935	799	843	927	1069	807	825	1207	1591	2205	2317
Provision for Tax	177	171	188	215	326	102	190	273	363	484	568
Profit After Tax	757	628	655	712	743	706	635	934	1228	1721	1746
Adjustments	15	93	81	0	0	0	0	0	0	0	263
Profit After Adjustments	772	721	736	712	743	706	635	934	1228	1721	2009
Adjusted Earnings Per Share	27.9	26	26.6	25.7	26.8	25.5	22.9	33.7	44.3	62.1	72.4

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	16%	27%	10%	0%
Operating Profit CAGR	38%	36%	14%	0%
PAT CAGR	40%	39%	18%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	8%	41%	46%	13%
ROE Average	28%	23%	20%	20%
ROCE Average	35%	29%	24%	25%

Cummins India Balance Sheet

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	3089	3609	3871	4119	4283	4402	4651	5145	5758	6612
Minority's Interest	0	0	0	0	0	0	0	0	0	0
Borrowings	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	2020	151	127	140	243	226	196	222	270	301
Total Current Liabilities	1298	902	1216	1456	1534	1568	1109	1745	1890	2057
Total Liabilities	6407	4662	5214	5715	6060	6196	5956	7112	7919	8971
Fixed Assets	1307	1291	1234	1290	1287	1233	1169	1230	1207	1325
Other Non-Current Assets	2554	1081	1292	1195	1345	1580	1532	1469	1613	1703
Total Current Assets	2545	2253	2643	3226	3425	3368	3236	4411	5097	5940
Total Assets	6407	4662	5214	5715	6060	6196	5956	7112	7919	8971

Cummins India Cash Flow

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	88	75	85	124	152	195	181	122	177	397
Cash Flow from Operating Activities	589	696	748	632	553	601	789	712	820	1285
Cash Flow from Investing Activities	-146	-212	-487	-134	16	-214	15	-586	69	-268
Cash Flow from Financing Activities	-444	-471	-226	-470	-525	-412	-873	-82	-687	-1134
Net Cash Inflow / Outflow	-1	12	35	28	44	-25	-69	43	201	-117
Closing Cash & Cash Equivalent	87	85	124	152	195	181	122	177	397	300

Cummins India Ratios

#	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	27.85	26.02	26.56	25.68	26.79	25.45	22.91	33.68	44.31	62.07
CEPS(Rs)	30.44	25.6	26.72	29.08	30.8	29.8	27.5	38.58	49.43	67.81
DPS(Rs)	14	14	14	15	17	14	15	18.5	25	38
Book NAV/Share(Rs)	111.43	130.19	139.65	148.58	154.51	158.8	167.8	185.61	207.73	238.54
Core EBITDA Margin(%)	15.4	15.1	14.68	14.11	15.18	11.33	13.3	14.21	15.65	19.33
EBIT Margin(%)	17.69	15.87	15.76	18.14	19.06	15.96	19.31	19.76	20.19	24.4
Pre Tax Margin(%)	17.65	15.68	15.45	17.85	18.76	15.55	18.92	19.56	19.98	24.1
PAT Margin (%)	14.31	12.32	12	13.71	13.03	13.59	14.56	15.13	15.42	18.81
Cash Profit Margin (%)	15.94	13.92	13.57	15.53	14.98	15.91	17.48	17.33	17.21	20.55
ROA(%)	17.42	11.35	13.27	13.03	12.61	11.51	10.45	14.29	16.34	20.38
ROE(%)	33.12	18.76	17.52	17.82	17.68	16.25	14.03	19.06	22.53	27.82
ROCE(%)	40.67	24.14	22.24	22.16	24.2	17.47	17.6	23.88	27.6	34.82
Receivable days	58.15	68.94	63.85	80.93	83.98	85.4	93.5	69.39	65.44	73.46
Inventory Days	42.66	48.22	39.34	39.18	37.71	42.54	47.78	38.5	37.61	36.97
Payable days	69.45	74.51	64.79	76.49	79.91	82.42	94.32	76.9	75.1	80.9
PER(x)	31.5	32.36	35.69	27.3	27.81	12.79	40.14	33.36	36.77	48.46
Price/Book(x)	7.87	6.47	6.79	4.72	4.82	2.05	5.48	6.06	7.84	12.61
Dividend Yield(%)	1.6	1.66	1.48	2.14	2.28	4.3	1.63	1.65	1.53	1.26
EV/Net Sales(x)	4.93	4.93	5.17	3.76	3.55	1.74	5.63	4.88	5.68	9.11
EV/Core EBITDA(x)	23.69	26.12	27.92	21.5	18.32	10.69	28.68	26.63	28.36	38.17
Net Sales Growth(%)	38.14	-3.99	8.18	0.11	11.45	-8.88	-16.01	41.53	25.95	15.8
EBIT Growth(%)	50.43	-13.59	6.29	9.49	15.28	-23.69	1.6	44.83	31.86	38.85
PAT Growth(%)	70.12	-17.04	4.27	8.65	4.33	-4.98	-10	47.04	31.53	40.1
EPS Growth(%)	66.77	-6.57	2.07	-3.32	4.33	-4.98	-10	47.04	31.53	40.1
Debt/Equity(x)	0	0	0.07	0.06	0.07	0.11	0	0.08	0.06	0.02
Current Ratio(x)	1.96	2.5	2.17	2.22	2.23	2.15	2.92	2.53	2.7	2.89
Quick Ratio(x)	1.39	1.82	1.7	1.84	1.82	1.78	2.41	2.11	2.22	2.43
Interest Cover(x)	535.1	82.57	50.39	62	64.74	39.41	50.22	100.26	98.99	81.46
Total Debt/Mcap(x)	0	0	0.01	0.01	0.02	0.05	0	0.01	0.01	0

Cummins India Shareholding Pattern

#	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoter	51	51	51	51	51	51	51	51	51	51
FII	10.36	12.19	13.98	14.37	16.33	16.37	17.22	17.82	17.36	17.94
DII	26.75	25.2	23.82	23.97	22.32	23.69	23.15	22.52	22.76	22.06
Public	11.9	11.6	11.2	10.67	10.36	8.94	8.63	8.66	8.88	9
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoter	14.14	14.14	14.14	14.14	14.14	14.14	14.14	14.14	14.14	14.14
FII	2.87	3.38	3.88	3.98	4.53	4.54	4.77	4.94	4.81	4.97
DII	7.41	6.99	6.6	6.64	6.19	6.57	6.42	6.24	6.31	6.12
Public	3.3	3.22	3.1	2.96	2.87	2.48	2.39	2.4	2.46	2.49
Others	0	0	0	0	0	0	0	0	0	0
Total	27.72	27.72	27.72	27.72	27.72	27.72	27.72	27.72	27.72	27.72

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 23%
Company is almost debt free.

Cons

Debtor days have increased from 75.1 to 80.9days.
Stock is trading at 10.9 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Cummins India News

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Cummins India

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Cummins India Research see more...

Overview Inc. Year: 1962Industry: Diesel Engines

Cummins India Share Price

Alert Data

Quarterly Price

Peer Comparison

Cummins India Quarterly Results

Cummins India Profit & Loss

Growth Rates

Cummins India Balance Sheet

Cummins India Cash Flow

Cummins India Ratios

Cummins India Shareholding Pattern

Cummins India News

IPO

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