Cummins Technologies India Pvt. Ltd., Cummins is at the forefront of designing future technologies for turbos, emissions, fuel systems and more.
• KKC registered revenue decline led by decline in exports business by 16% YoY. Domestic business grew by 4% YoY driven by distribution business. EBITDA Margin had improved sequentially to 14.8% by 250bps QoQ.
• The uncertainty in demand to continue in both domestic and exports resulting in overall revenue decline of 2% YoY in FY20. EBITDA margin in FY20 is 12.6% down by 270bps due to declining exports mix and distribution business (both carry better margins) and prevailing pricing pressures led by intense competition in the domestic market.
• The stock assigning 20x multiple on earnings.
Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.
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