*Cummins India Ltd.* | *CMP* Rs. 895 | *M Cap* Rs. 24809 Cr | *52 W H/L* 1065/429
(Nirmal Bang Retail Research)
*Result Ahead of Expectation*
Revenue from Operations came at Rs. 1730.2 Cr (46.1% QoQ, 49.1% YoY) vs expectation of Rs. 1332.1 Cr, QoQ Rs. 1184.5 Cr, YoY Rs. 1160.2 Cr
EBIDTA came at Rs. 259.4 Cr (74.4% QoQ, 55% YoY) vs expectation of Rs. 190.6 Cr, QoQ Rs. 148.8 Cr, YoY Rs. 167.4 Cr
EBITDA Margin came at 15% vs expectation of 14.3%, QoQ 12.6%, YoY 14.4%
Adj. PAT came at Rs. 221 Cr vs expectation of Rs. 173.1 Cr, QoQ Rs. 104.3 Cr, YoY Rs. 145.6 Cr
Quarter EPS is Rs. 8
Share is trading at P/E of 28.1x FY23E EPS