CUMMINSIND · Capital Goods
Cummins India Ltd. reported revenue of ₹2,541 cr for October to December 2023, — on the year and +32.2% on the quarter.
Operating profit (EBITDA) was ₹543 cr, a margin of 21.4%, — on the year and +337 bps on the quarter.
Net profit was ₹499 cr, — on the year and +51.7% on the quarter, with earnings per share of ₹18.00.
Capital goods and EPC revenue follows project execution, which makes quarters uneven; the order book and new orders tell more about the year than one quarter does. The quarterly statements do not carry the order book, new orders and working capital; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹2,541 cr | ₹2,319 cr | ₹2,316 cr | ₹2,509 cr | ₹3,096 cr | ₹2,470 cr | ₹2,907 cr | ₹3,170 cr | ₹3,055 cr | ₹3,011 cr | ₹3,426 cr | ₹3,301 cr |
| YoY | — | — | +4% | +31% | +22% | +7% | +26% | +26% | −1% | +22% | +18% | +4% |
| EBITDA margin | 21.4% | 23.2% | 20.4% | 19.3% | 19.3% | 21.3% | 21.5% | 21.9% | 20.8% | 21.3% | 18.0% | 15.3% |
| Other income, % of PBT | 24% | 28% | 29% | 26% | 24% | 31% | 27% | 15% | 7% | 31% | 17% | 21% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 23% | 20% | 22% | 24% | 22% | 23% | 23% | 24% | 22% | 24% | 23% | 21% |
| Net profit | ₹499 cr | ₹539 cr | ₹463 cr | ₹449 cr | ₹558 cr | ₹530 cr | ₹604 cr | ₹622 cr | ₹486 cr | ₹649 cr | ₹609 cr | ₹507 cr |
| YoY | — | — | +31% | +36% | +12% | −2% | +30% | +39% | −13% | +22% | +1% | −19% |
| Core profit YoY | — | — | +42% | +45% | +11% | −3% | +35% | +60% | +6% | +25% | +13% | −28% |
| EPS | ₹18.00 | ₹19.44 | ₹16.69 | ₹16.21 | ₹20.15 | ₹19.10 | ₹21.79 | ₹22.45 | ₹17.53 | ₹23.43 | ₹21.98 | ₹18.30 |
| Flags | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | 1 | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Cummins India Ltd. reported revenue of ₹2,541 cr (— on the year) and net profit of ₹499 cr (— on the year) for October to December 2023.
None of the 2 checks that could run raised a question.
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.