Cummins India Ltd., incorporated in the year 1962, is a Mid Cap company (having a market cap of Rs 23645.16 Crore) operating in Engineering sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 1491.57 Crore, up 21.47 % from last quarter Total Income of Rs 1227.98 Crore and down -1.82 % from last year same quarter Total Income of Rs 1519.27 Crore. Company reported net profit after tax of Rs 196.06 Crore in latest quarter.
Investment Rationale
The brokerage maintains BUY on CIL with a revised TP of Rs 1,068 (SOTP); upgrade P/E from 25x to 30x FY23E EPS (average 6.5yrs P/E post May-14, NDA Govt).
Promoter/FII Holdings
Promoters held 51 per cent stake in the company as of Dec 30, 2020, while FIIs held 8.95 per cent, DIIs 27 .50 per cent and public and others 12.53 per cent.
