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Cummins India Reports Positive Domestic Sales In Q4; Exports Disappoint

While the company's domestic sales during Q4 FY17 went up by 18 percent, exports declined by 7 percent.

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Automotive and industrial components manufacturer Cummins India has reported 18 percent growth in its domestic sales for the fourth quarter ended March 31, 2017 and stood at Rs 938 crore when compared with Rs 792 crore for same period last year, informed the company in a press statement. 

Its exports in the current quarter stood at Rs 301 crore as against Rs 322 crore during Q4 FY16, thereby recording decline of 7 percent.  

When talking about Cummins India's financial performance for the financial year 2017, its domestic sales grew by 12 percent and exports declined by 3 percent, and stood at Rs 3,699 crore and Rs 1,611 crore, respectively. 

The Board of Directors of Cummins India have also recommended a final dividend of Rs 9 per share (450 percent of share capital) aggregating to Rs 14 per share of Rs 2 each (700 percent of share capital) for the year ended March, 31 2017. 

Anant J Talaulicar, Chairman & Managing Director, Cummins India, said, “Our domestic growth story continues based on momentum from the Government’s increased investments in infrastructure for the economy. The company remains optimistic about its growth prospects in the domestic market. Exports markets continue to disappoint based on the global economic scenario." 

"In particular, the demand for our low kilowatt generators has continued to soften based on difficulties that some of the economies are experiencing in the Middle East, Africa, Europe and Asia. Our product mix was unfavourable in the quarter which has had an adverse impact on profitability." 

"However, Cummins India remains well positioned to maximise emerging opportunities based on its ability to leverage Cummins technology and tailor it for the Indian market, its strong OEM and supplier partnerships, best in class service support and a diverse, stable leadership team,” added Talaulicar.

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