Cummins India Ltd
Cummins India Ltd is a part of the Cummins Inc. Group USA. It designs, manufactures, distributes and services diesel and alternative fuel engines from 2.8 to 95 liters, diesel and alternative-fueled power generator sets of up to 3000 kW (3750 kVA), as well as related components and technology.[1]
- Market Cap ₹ 89,630 Cr.
- Current Price ₹ 3,233
- High / Low ₹ 3,270 / 1,556
- Stock P/E 63.2
- Book Value ₹ 204
- Dividend Yield 0.77 %
- ROCE 26.8 %
- ROE 21.6 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 62.2%
Cons
- Stock is trading at 15.9 times its book value
- The company has delivered a poor sales growth of 8.79% over past five years.
* 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.
Peer comparison
Sector: Capital Goods-Non Electrical Equipment Industry: Engines
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
4,117 | 4,589 | 3,977 | 4,406 | 4,709 | 5,077 | 5,082 | 5,659 | 5,158 | 4,329 | 6,140 | 7,744 | 8,568 | |
3,420 | 3,754 | 3,280 | 3,674 | 3,934 | 4,276 | 4,345 | 4,795 | 4,567 | 3,729 | 5,260 | 6,502 | 7,025 | |
Operating Profit | 697 | 835 | 697 | 732 | 775 | 802 | 738 | 864 | 590 | 600 | 880 | 1,243 | 1,543 |
OPM % | 17% | 18% | 18% | 17% | 16% | 16% | 15% | 15% | 11% | 14% | 14% | 16% | 18% |
175 | 268 | 178 | 287 | 226 | 208 | 279 | 293 | 308 | 349 | 425 | 406 | 492 | |
Interest | 5 | 5 | 4 | 1 | 10 | 17 | 15 | 16 | 20 | 16 | 12 | 16 | 27 |
Depreciation | 42 | 47 | 53 | 80 | 81 | 85 | 94 | 110 | 119 | 126 | 134 | 140 | 153 |
Profit before tax | 825 | 1,051 | 818 | 937 | 910 | 908 | 908 | 1,030 | 759 | 808 | 1,159 | 1,492 | 1,855 |
Tax % | 28% | 27% | 27% | 16% | 17% | 19% | 22% | 30% | 17% | 24% | 24% | 24% | |
591 | 764 | 600 | 786 | 754 | 735 | 708 | 723 | 629 | 618 | 887 | 1,130 | 1,418 | |
EPS in Rs | 21.33 | 27.57 | 21.65 | 28.35 | 27.21 | 26.50 | 25.56 | 26.07 | 22.70 | 22.29 | 31.99 | 40.76 | 51.14 |
Dividend Payout % | 52% | 47% | 60% | 49% | 51% | 53% | 59% | 65% | 62% | 67% | 58% | 61% |
Compounded Sales Growth | |
---|---|
10 Years: | 5% |
5 Years: | 9% |
3 Years: | 15% |
TTM: | 17% |
Compounded Profit Growth | |
---|---|
10 Years: | 5% |
5 Years: | 11% |
3 Years: | 21% |
TTM: | 40% |
Stock Price CAGR | |
---|---|
10 Years: | 19% |
5 Years: | 34% |
3 Years: | 53% |
1 Year: | 106% |
Return on Equity | |
---|---|
10 Years: | 19% |
5 Years: | 17% |
3 Years: | 18% |
Last Year: | 22% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 |
Reserves | 1,988 | 2,331 | 2,510 | 2,831 | 3,426 | 3,687 | 3,931 | 4,075 | 4,120 | 4,351 | 4,797 | 5,313 | 5,596 |
0 | 0 | 0 | 0 | 0 | 251 | 252 | 309 | 504 | 33 | 412 | 373 | 271 | |
1,059 | 1,283 | 1,208 | 1,435 | 1,009 | 1,048 | 1,294 | 1,414 | 1,275 | 1,257 | 1,540 | 1,771 | 1,943 | |
Total Liabilities | 3,102 | 3,670 | 3,773 | 4,322 | 4,490 | 5,041 | 5,531 | 5,854 | 5,954 | 5,697 | 6,805 | 7,512 | 7,865 |
465 | 493 | 919 | 1,234 | 1,289 | 1,500 | 2,019 | 2,013 | 2,264 | 2,185 | 2,204 | 2,222 | 2,301 | |
CWIP | 50 | 121 | 96 | 171 | 519 | 463 | 38 | 159 | 80 | 128 | 61 | 41 | 49 |
Investments | 598 | 628 | 495 | 465 | 334 | 707 | 549 | 285 | 824 | 369 | 615 | 1,085 | 1,330 |
1,990 | 2,428 | 2,262 | 2,452 | 2,348 | 2,370 | 2,925 | 3,397 | 2,786 | 3,015 | 3,925 | 4,164 | 4,186 | |
Total Assets | 3,102 | 3,670 | 3,773 | 4,322 | 4,490 | 5,041 | 5,531 | 5,854 | 5,954 | 5,697 | 6,805 | 7,512 | 7,865 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
442 | 529 | 361 | 498 | 692 | 746 | 634 | 550 | 599 | 788 | 707 | 811 | |
8 | -219 | 55 | -56 | -214 | -482 | -133 | 16 | -202 | 25 | -574 | 87 | |
-351 | -359 | -426 | -423 | -468 | -225 | -473 | -523 | -411 | -872 | -77 | -684 | |
Net Cash Flow | 100 | -49 | -9 | 19 | 10 | 39 | 29 | 43 | -14 | -60 | 56 | 214 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 60 | 68 | 72 | 78 | 73 | 69 | 95 | 82 | 80 | 91 | 74 | 75 |
Inventory Days | 78 | 67 | 83 | 92 | 74 | 63 | 60 | 63 | 62 | 74 | 65 | 62 |
Days Payable | 71 | 69 | 73 | 81 | 69 | 68 | 85 | 83 | 75 | 96 | 89 | 80 |
Cash Conversion Cycle | 67 | 66 | 82 | 88 | 78 | 64 | 71 | 62 | 67 | 68 | 50 | 57 |
Working Capital Days | 42 | 40 | 43 | 56 | 78 | 66 | 75 | 78 | 74 | 73 | 62 | 53 |
ROCE % | 39% | 42% | 33% | 31% | 29% | 25% | 21% | 24% | 17% | 19% | 21% | 27% |
Documents
Announcements
- Compliance Certificate - Regulation 40(9) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 15 Apr
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 12 Apr
- Board Meeting Intimation for Board Meeting Intimation For Approval Of Audited Financial Results For The Quarter And Year Ended March 31, 2024 And Recommendation Of Final Equity Dividend For The Financial Year 2023-24 12 Apr
- Compliance Certificate - Regulation 7 (3) Of SEBI (LODR) Regulations, 2015 8 Apr
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
8 Apr - Depositories and Participants) Regulations, 2018, we are enclosing herewith the Certificate received from Registrar and Transfer Agent
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2011
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Concalls
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Feb 2024TranscriptPPT
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Mar 2016TranscriptNotesPPT
Engines Business Division (~69% of revenues)[1]
The company's business division is divided into 4 main segments :-