Cummins India Limited announced robust financial results for the quarter ended September 30, 2024, during the Board of Directors meeting. The company reported a significant increase in total sales, reaching ₹2,448 crores, marking a 31% rise from the same quarter last year and an 8% increase from the previous quarter. This growth is attributed to a substantial rise in domestic sales and a steady recovery in export markets.
Domestic sales surged by 47% to ₹2,008 crores, driven by solid demand across various sectors. However, export sales experienced a mix of challenges and recovery, totalling ₹440 crores—a 13% decrease from last year but a 13% increase from the prior quarter. The company’s profits before tax rose by 39% to ₹594 crores, with after-tax profits climbing to ₹451 crores, up 37% year-over-year.
Shveta Arya, Managing Director of Cummins India Limited, highlighted the company’s performance against a resilient Indian economy unaffected by global geopolitical tensions. “The robust GST collections and other positive economic indicators reflect a healthy economic outlook,” Arya commented. She emphasized the government’s stable policies and infrastructure initiatives, which she believes will propel the economy to grow between 6.8% to 7.2%.
Looking ahead, Cummins India is optimistic about its prospects, particularly with the full implementation of CPCB IV+ emission norms since July 2024, which has enhanced the company’s product offerings. “We are cautiously optimistic about the short-term demand but very positive about the long-term prospects,” Arya added.
The company continues to focus on strengthening its export relationships and is optimistic about the recovery in export demand despite ongoing global uncertainties. With a comprehensive portfolio of products and a strong technological foundation, Cummins India is well-prepared to meet evolving market demands both domestically and internationally.
Cummins India, established in 1962 and headquartered in Pune, remains a cornerstone of India’s power solutions sector, boasting a vast manufacturing and service network aimed at driving sustainable growth and innovation in power generation and related markets.
