BENGALURU (Reuters) – Diesel and pure gasoline engines maker Cummins India Ltd posted a 61.3% rise in fourth-quarter revenue after tax on Wednesday, supported by strong demand in home and worldwide markets.
The corporate reported consolidated revenue after tax at 3.49 billion rupees ($42.7 million) within the three months ended March 31, in comparison with 2.16 billion rupees a 12 months earlier.
Revenue from operations jumped over 28% to 18.97 billion rupees.
The corporate’s board additionally declared a ultimate dividend of 13 rupees per share.
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WHY IT MATTERS
The corporate, engaged in manufacturing engines for energy era, industrial and automotive sectors, reported an uptick in demand for its diesel engines, benefitting from robust automobile gross sales by automotive firms as COVID-related disruptions and chip shortages eased.
Throughout the quarter, the corporate’s home gross sales elevated 33.5% year-on-year on a standalone foundation, whereas exports grew 16.6%.
Cummins counts Bhutan and Nepal as its worldwide markets.
PEER COMPARISON
Valuation Estimates (subsequent 12 Analysts’ sentiment
(subsequent 12 months)
months)
RIC PE EV/EBI Income Revenue Imply # of Inventory to Div
TDA progress progress ranking* analysts worth yield
goal** (%)
Cummins India Ltd 38.85 34.71 13.91 8.49 Maintain 13 1.09 1.04
ABB India Ltd 77.08 58.74 21.11 34.07 Maintain 23 1.08 0.14
Siemens Ltd 58.67 42.12 17.22 20.67 Maintain 19 0.95 0.29
Thermax Restricted 42.37 27.95 15.05 32.29 Maintain 24 1.03 0.45
* Imply of analysts’ scores standardised to a scale of Sturdy Purchase, Purchase, Maintain, Promote, and Sturdy Promote ** Ratio of the inventory’s final near analysts’ imply worth goal; a ratio above 1 means the inventory is buying and selling above the PT
JAN-MARCH STOCK PERFORMANCE
— All information from Refinitiv
— $1 = 81.7800 rupees
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(Reporting by Priya Sagar in Bengaluru; Enhancing by Sonia Cheema)
(Solely the headline and movie of this report could have been reworked by the Enterprise Normal workers; the remainder of the content material is auto-generated from a syndicated feed.)
