Cummins India (500480) Q2 24/25 earnings summary

Executive summary

• Q2 FY 2024-25 sales reached INR 2,444 crores, up 31% year-over-year and 8% sequentially from the previous quarter.

• Unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2024, were approved and released, accompanied by a limited review report from statutory auditors.

• Appointment of Mr. Cornelius O'Sullivan as Additional Director (Non-Executive, Non-Independent) effective November 8, 2024, was approved.

• Postal ballot process initiated to seek shareholder approval for the director appointment, with a scrutinizer appointed for the e-voting process.

• Strong demand in domestic power generation and industrial segments, with continued focus on supply chain improvements and customer value.

Financial highlights

• Consolidated revenue from operations for the quarter ended September 30, 2024, was ₹2,465.09 crore, up from ₹1,893.63 crore in the same quarter last year.

• Profit before tax increased 39% year-over-year and 8% sequentially to INR 594 crores.

• Consolidated profit after tax for the quarter was ₹449.37 crore, compared to ₹329.09 crore year-over-year.

• Standalone profit after tax for the quarter was ₹419.80 crore, up from ₹328.51 crore year-over-year.

• Basic and diluted EPS for the quarter stood at ₹16.21 (consolidated) and ₹16.26 (standalone), both higher than the previous year.

Outlook and guidance

• Double-digit revenue growth expected for FY 2024-25.

• Pricing for CPCB 4 Plus engines expected to stabilize over the next two quarters.

• Continued strong demand anticipated in power generation, industrial, and data center segments.

• No explicit forward-looking guidance provided, but continued focus on operational efficiency and supply chain transformation is noted.