Cummins India Ltd

Cummins India Ltd

₹ 3,826 3.05%
14 Jun - close price
About

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]

Key Points

Engines Business Division (~69% of revenues)[1]
The company's business division is divided into 4 main segments :-

  • Market Cap 1,06,046 Cr.
  • Current Price 3,826
  • High / Low 3,900 / 1,590
  • Stock P/E 63.8
  • Book Value 222
  • Dividend Yield 0.99 %
  • ROCE 36.1 %
  • ROE 28.8 %
  • Face Value 2.00

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has delivered good profit growth of 18.7% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 50.8%

Cons

  • Stock is trading at 17.2 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
1,247 1,184 1,727 1,735 1,494 1,687 1,951 2,181 1,926 2,209 1,900 2,534 2,316
1,079 1,036 1,468 1,464 1,287 1,473 1,661 1,768 1,600 1,868 1,561 1,996 1,772
Operating Profit 167 149 259 270 207 214 291 412 326 341 339 538 544
OPM % 13% 13% 15% 16% 14% 13% 15% 19% 17% 15% 18% 21% 24%
112 187 69 87 77 86 85 104 131 117 132 112 204
Interest 3 2 2 3 5 2 5 3 7 8 7 6 6
Depreciation 31 31 34 35 35 34 35 34 37 36 38 42 42
Profit before tax 245 303 293 320 244 264 336 479 413 415 426 602 701
Tax % 24% 22% 25% 25% 22% 25% 25% 25% 23% 24% 23% 24% 20%
186 237 220 241 189 199 252 360 318 316 329 455 562
EPS in Rs 6.70 8.54 7.93 8.69 6.82 7.17 9.10 12.99 11.49 11.39 11.85 16.41 20.26
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
4,589 3,977 4,406 4,709 5,077 5,082 5,659 5,158 4,329 6,140 7,744 8,959
3,754 3,280 3,674 3,934 4,276 4,345 4,795 4,567 3,729 5,260 6,502 7,197
Operating Profit 835 697 732 775 802 738 864 590 600 880 1,243 1,761
OPM % 18% 18% 17% 16% 16% 15% 15% 11% 14% 14% 16% 20%
268 178 287 226 208 279 293 308 349 425 406 566
Interest 5 4 1 10 17 15 16 20 16 12 16 27
Depreciation 47 53 80 81 85 94 110 119 126 134 140 158
Profit before tax 1,051 818 937 910 908 908 1,030 759 808 1,159 1,492 2,143
Tax % 27% 27% 16% 17% 19% 22% 30% 17% 24% 24% 24% 23%
764 600 786 754 735 708 723 629 618 887 1,130 1,661
EPS in Rs 27.57 21.65 28.35 27.21 26.50 25.56 26.07 22.70 22.29 31.99 40.76 59.91
Dividend Payout % 47% 60% 49% 51% 53% 59% 65% 62% 67% 58% 61% 33%
Compounded Sales Growth
10 Years: 8%
5 Years: 10%
3 Years: 27%
TTM: 16%
Compounded Profit Growth
10 Years: 11%
5 Years: 19%
3 Years: 38%
TTM: 50%
Stock Price CAGR
10 Years: 19%
5 Years: 39%
3 Years: 66%
1 Year: 108%
Return on Equity
10 Years: 20%
5 Years: 20%
3 Years: 23%
Last Year: 29%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 55 55 55 55 55 55 55 55 55 55 55 55
Reserves 2,331 2,510 2,831 3,426 3,687 3,931 4,075 4,120 4,351 4,797 5,313 6,108
0 0 0 0 251 252 309 504 33 412 373 120
1,283 1,208 1,435 1,009 1,048 1,294 1,414 1,275 1,257 1,540 1,771 2,215
Total Liabilities 3,670 3,773 4,322 4,490 5,041 5,531 5,854 5,954 5,697 6,805 7,512 8,498
493 919 1,234 1,289 1,500 2,019 2,013 2,264 2,185 2,204 2,222 2,297
CWIP 121 96 171 519 463 38 159 80 128 61 41 95
Investments 628 495 465 334 707 549 285 824 369 615 1,085 1,215
2,428 2,262 2,452 2,348 2,370 2,925 3,397 2,786 3,015 3,925 4,164 4,891
Total Assets 3,670 3,773 4,322 4,490 5,041 5,531 5,854 5,954 5,697 6,805 7,512 8,498

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
529 361 498 692 746 634 550 599 788 707 811 1,280
-219 55 -56 -214 -482 -133 16 -202 25 -574 87 -267
-359 -426 -423 -468 -225 -473 -523 -411 -872 -77 -684 -1,133
Net Cash Flow -49 -9 19 10 39 29 43 -14 -60 56 214 -120

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 68 72 78 73 69 95 82 80 91 74 75 85
Inventory Days 67 83 92 74 63 60 63 62 74 65 62 59
Days Payable 69 73 81 69 68 85 83 75 96 89 80 89
Cash Conversion Cycle 66 82 88 78 64 71 62 67 68 50 57 55
Working Capital Days 40 43 56 78 66 75 78 74 73 62 53 101
ROCE % 42% 33% 31% 29% 25% 21% 24% 17% 19% 21% 27%

Shareholding Pattern

Numbers in percentages

4 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00% 51.00%
11.69% 11.97% 12.54% 10.52% 10.35% 10.37% 12.20% 13.99% 14.37% 16.45% 16.51% 17.36%
24.37% 24.41% 23.76% 25.16% 25.05% 26.54% 24.99% 23.61% 23.76% 21.97% 23.36% 22.86%
0.22% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.20% 0.14%
12.72% 12.42% 12.50% 13.12% 13.40% 11.90% 11.61% 11.20% 10.67% 10.36% 8.93% 8.63%
No. of Shareholders 92,95490,7941,00,7391,11,1841,09,0671,19,0271,17,1861,22,4481,19,8831,28,9711,17,9051,20,043

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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