Cummins India revenue in Q1FY23 was up 42 per cent and 13 per cent sequentially to Rs 1,687 crore.
Cummins India’s stock has gained 27 per cent since its lows in June, helped by a strong first quarter, expectation of improved demand and margin recovery. Some brokerages have revised their earnings estimates upwards but others are cautious.
Demand would be a key trigger for the company engaged in manufacturing, trading, selling engines, and allied activities. Cummins has said domestic and export demand remains strong. In the domestic market, select pockets in the industrial business have seen an uptick as segments in the diesel genset market drive growth. Key segments which are driving demand are pharma, biotech, realty, railways, telecom,
First Published: Aug 22 2022 | 8:36 PM IST