CUMMINS INDIA LTD. - 500480 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Scheduling open analysts/ Investors/ Financial Institutions conference-call on Friday, June 26, 2020.24-06-2020
24-06-2020
CUMMINS INDIA LTD. - 500480 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Scheduling open analysts/ Investors/ Financial Institutions conference-call on Friday, June 26, 2020.24-06-2020
CUMMINS INDIA LTD. - 500480 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Scheduling open analysts/ Investors/ Financial Institution conference-call on Friday, June 26, 2020.24-06-2020
Earnings Call Transcript - Q4FY20 for Cummins India
Conference Call with Cummins India Management and Analysts on Q4FY20 and Full Year Earnings Performance and Outlook. Listen to the full earnings transcript. Key Highlights from Managing Director Ashwath Ram Revenue and EBITDA for the quarter was impacted due to lockdown. Excluding the Covid-19 impact the revenue would have been at Rs 1,220 crore. Since Q2 of FY19 we have been experiencing a slowing economy which led to a flat/negative growth rate and Covid-19 related lockdown accentuated revenue growth rate. Export markets have continued to display softness in last few quarters, arising from global economic challenges. During this quarter also, we experienced decline in certain markets where conditions deteriorated further due to Covid-19. Given the significant impact the pandemic will have on demand across various sectors in the next quarter and beyond, we are well-prepared to manage the downturn with a strong balance sheet and deployment of proactive cost optimization measures. We will continue to monitor market conditions and adjust our plans accordingly. As the company’s operations gradually scale-up post relaxation of lockdown and continue to fight threat of Covid-19, we remained focused on the safety of our employees, serving our customers and supporting all stakeholders. Considering the economic uncertainty associated with Covid-19 pandemic, the company is not providing revenue guidance for next year at this time. While customers have resumed operations partially, the company expects a significant impact to its next quarter results due to nationwide lockdown and consequential impact on economy. Revenue for the quarter stood at Rs 1,032 crore, declining by 21% as compared to Rs 1,314 crore recorded in the same quarter last year and by 28% compared to Rs 1,428 crore recorded in the preceding quarter. The de-growth was on account of muted order bookings due to economic slowdown, which was accentuated by the Covid-19 related lockdown which impacted revenue for the quarter. Without Covid-19 lockdown impact, revenue decline is 7% and 14% respectively. Domestic sales in the current quarter at Rs 775 crore declined by 22% as compared to Rs 992 crore recorded during the same quarter last year and declined by 27% as compared to Rs 1,058 crore recorded during preceding quarter. Exports for the current quarter at Rs 257 crore declined 20% as compared to Rs 322 crore recorded in the same quarter last year and lower by 31% as compared to Rs 370 crore recorded in the preceding quarter. Profit before tax (excluding exceptional items) was recorded at Rs 121 crore is 42% lower as compared to Rs 209 crore recorded during the same quarter last year and 52% lower as compared to Rs 254 crore recorded during the preceding quarter. Revenue for the year ended March 31, 2020 was at Rs 5,062 crore, a decline of 8% over the sales of Rs 5,526 crore recorded during the same period last year. Domestic sales for the year ended March 31, 2020 at Rs 3,771 crore were lower by 3% over the sale of Rs 3,873 recorded during same period last year. Excluding the impact of lockdown, CIL would have achieved growth of 2% over last year. Exports sales for the year ended March 31, 2020 at Rs1,291 crore declined 22% over the export sales of Rs 1,652 crore, recorded during last year. Profit before tax (excluding exceptional items) was recorded at Rs 779 crore and is 24% lower as compared to Rs 1,030 crore recorded during last year.20-06-2020
Buy Cummins India; target of Rs 465: ICICI Securities
ICICI Securities is bullish on Cummins India has recommended buy rating on the stock with a target price of Rs 465 in its research report dated June 18, 2020.19-06-2020
CUMMINS INDIA LTD. - 500480 - Announcement under Regulation 30 (LODR)-Newspaper Publication
Pursuant to Regulation 47(1) and (3) read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ('the Regulation'), the Company hereby informs that the audited financial results, in accordance with the Regulation 33, for the quarter and financial year ended on March 31, 2020, have been published in the English Newspaper Business Standard (All Editions) and Marathi Newspaper Loksatta, both these newspapers having electronic editions, on June 19, 2020. The copies of said publications are enclosed for your reference.19-06-2020
CUMMINS INDIA LTD. - 500480 - Compliances-Reg.24(A)-Annual Secretarial Compliance
In terms of SESI Circular No. CIR/CFD/CMD1/27/2019 dated February 08, 2019 and Regulation 24A of SESI (Listing Obligation and Disclosure Requirement)Regulation, 2015, we are submitting herewith the Annual Secretarial Compliance Report of the Company for the year ended March 31, 2020 issued by Mr. Pramod S. Shah (FCS no. 334 & CP no. 3804), M/s. Pramod S. Shah & Associates,Practicing Company Secretaries, Mumbai, dated June 16, 2020.17-06-2020
CUMMINS INDIA LTD. - 500480 - Declaration In Terms Of Regulation 33 (3) (D) Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015
In terms of the second proviso to Regulation 33 (3) (d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we declare that S R B C & CO LLP, Statutory Auditors of the Company have submitted Audit Reports for annual financial results (standalone and consolidated) of the Company for the financial year ended March 31, 2020 with unmodified opinion(s). Kindly take this declaration on your record.17-06-2020