Cummins Q3 - High Horse Power Back Up Of Domestic Business, Bottoming Exports Prompt A 'Buy': Yes Securities

Yes Securities Report

Cummins India reported a bumper Q3 FY24 with revenue growth returning to high double digits and Ebitda margin crossing 20% led by continued strength in gross margin.

This led to a profit after tax growth of 27% YoY, 19% above our estimates. Domestic business blazed all guns with the higher horsepower segments (both high horse power and heavy duty, more than 320 Kva) reporting ~70% YoY growth.

In addition, both industrial and distribution businesses, maintained revenue growth in 20s.

Exports fell sharply by ~40% both sequentially and on YoY basis with both LHP and HHP reporting similar fall YoY.

Click on the attachment to read the full report:

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.