Record quarter amid strong underlying demand

Company
11 Mar 2024
5 Min read 
  • Cummins India's 3QFY24 results exceeded estimates with strong YoY growth in revenue, EBITDA, and PAT.
  •  Revenue growth was driven by a sharp uptick in the powergen segment, driven by a data center project delivery.
  •  Margin improved due to higher sales, lower raw material prices, and cost reductions.
  •  Domestic sales growth is recovering, while exports are still weak but expected to recover in the coming quarters.
  •  Positive outlook for Cummins due to long-term demand drivers, readiness for emission norm transition, and ability to sustain margins.
  •  Estimates have been raised to factor in improved sales and gross margin, with a revised target price of INR2,910.
Login / Open Demat Account to read the report

Never Miss Out on Hot Market Updates

Get exclusive market news delivered to your inbox - on priority