Cummins India sales up in Q4 FY18; declares dividend

Cummins India net sales for the quarter ended March 31, 2018, was Rs 12.06 billion, grew by four percent as compared to Rs 11.56 billion recorded in the same quarter last year. The net sales were Rs 13.18 billion in the preceding quarter. Meanwhile, net sales for the financial year 2017-18 marginally declined to Rs 49.52 billion from Rs 49.58 billion. Cummins India is the leading manufacturer of diesel and natural gas engines for power generation, industrial and automotive markets.

Net profit before tax in the quarter ended March 31, 2018, is Rs 2.09 billion, up by seven percent compared to same quarter last year. Net profit before tax for FY18 is Rs 8.52 billion declined by six percent compared to Rs 9.08 billion in FY17. The board recommended a final dividend of Rs 10 per share, and the total dividend for FY18 will be Rs 15/share.

“In the domestic business this year, the Industrial market has registered strong growth of eight percent primarily led by the Construction and the Rail markets; while the Distribution business grew six percent. Sales in the Powergen segment maintained at last year levels despite strong competitive pressure. We are positive on the medium to long-term outlook for domestic sales as underlying demand conditions remain positive based on sustained investments by the government in creating infrastructure for the Indian economy. Exports revenue improved for this quarter, growing 30 percent over the comparable quarter in the previous year – however, the global Power generation markets continue to remain uncertain. We are closely watching this space and ready to capitalize on recoveries in demand in both HHP and LHP segments,” said Sandeep Sinha, Managing Director, Cummins India Limited.

Domestic sales of the company for the year ended March 31, 2018, was at Rs 33.78 billion grew one percent over the last year. Exports for FY18 was at Rs 15.74 billion declined two percent over the same period last year.

 

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