Cummins India Limited Results for the quarter and year ended March 31, 2022

By Kalinga Voice Last updated May 30, 2022

Pune:Cummins India Limited (NSE: CUMMINSIND)The Board of Directors of Cummins India Limited (CIL), at their meeting held today, reviewed, and approved the financial results for the quarter and year ended March 31, 2022.

Performance Highlights (based on standalone financial results) for the quarter ended March 31, 2022:

Total Sales for the quarter at ₹ 1,468 Cr. increased by 19% compared to the same quarter last year and decreased by 14% compared to the last quarter.
Domestic sales at ₹ 1,046 Cr. increased by 7% compared to the same quarter last year and decreased by 17% compared to the last quarter.
Exports Salesat ₹ 423 Cr. increased by 66% compared to the same quarter last year and decreased by 4% compared to the last quarter.
Profit before tax at ₹244 Cr. is lower by 1% compared to the same quarter last year and by 24% compared to the last quarter.

Performance Highlights (based on standalone financial results) for the year ended March 31, 2022:

Total Sales for the year ended March 31, 2022, at ₹ 6,026 Cr., increased by 42% compared to last year.
Domestic sales for the year ended March 31, 2022, at ₹ 4,416 Cr., were higher by 42% compared to last year.
Exports Sales for the year ended March 31, 2022, at ₹ 1,610 Cr., were higher by 40% compared to last year.
Profit before tax (before exceptional items) for the year ended March 31, 2022, at ₹ 1,027 Cr., is 27% higher as compared to the last year.
Profit before tax (after exceptional items) for the year ended March 31, 2022, at ₹ 1,159 Cr., is 44% higher as compared to the last year.

Ashwath Ram, Managing Director, Cummins India Limited, said” Post-Covid waves 1 and 2, the Indian economy rebounded strongly due to various factors like mass vaccination, proactive fiscal policy measures directed towards ease of doing business, Make in India, etc. Monetary policy remained accommodative with a soft interest rate scenario till recent times. Besides, pent-up demand was broad-based across various segments of the economy. We believe that despite supply chain disruptions, high commodity costs, and geopolitical issues, India is on the path to sustained economic recovery considering strong domestic demand and robust export performance. Economic recovery is visible with record monthly GST collections over ₹ 1Lakh Cr.for most of the year; increased spending on discretionary items; Capex, primarily private Capex cycle is slowly coming back. An elevated level of inflation and associated actions to contain inflation from the Government and the RBI to raise interest rates may to some extent, impact demand in the near to medium term.”

“I am pleased to announce that Cummins India Limited, its associate and JV companies Cummins Generator Technologies India Pvt Limited, and Valvoline Cummins Private Limited, posted record annual revenue in FY’22. This record revenue performance was possible due to focused and dedicated efforts of our employees, supply chain partners, and continued strong support from Cummins Inc. to help us meet customer demand. I am delighted that our teams delivered record revenue despite significant supply chain disruptions. We continue to leverage our globally integrated supply chain to address the supply challenges, and our endeavor remains to sustain profitable growth in this challenging inflationary business environment.” said Ashwath Ram, Managing Director, Cummins India Limited.