Cummins India Limited (CIL) Sales for Q4 2011–12 up 1 %, Net Profit Before Tax up 4 % compared to the same quarter last year. CIL sales for the year ended March, 31 2012 up 3 %, Net Profit Before Tax up 3 %. Recommends final dividend of Rs. 6 per share of Rs. 2 each (300 %) aggregating to Rs. 11 per share of Rs 2 each (550 %) for the year ended March, 31 2012
The Board of Directors of Cummins India Limited took on record the audited annual financial results for the year ended March 31, 2012 in their meeting held today.Net sales of the Company for the quarter ended March 31, 2012 were Rs. 1,021 crores, an increase of 1.1 % over the same period last year and 8.4% over the preceding quarter. Net profit before tax at Rs. 205 crores represented a 4.3% increase over the same period last year and 5.3% over the preceding quarter.For the year ended March 31, 2012, net sales of the Company were Rs. 4,052 crores, an increase of 2.6 % over the last year. Net profit before tax was Rs.825 crores (including extraordinary income of Rs. 51 crores), representing a 2.8 % increase over the last year.
Anant J. Talaulicar, Chairman & Managing Director, Cummins India Limited said, “The Company has reported solid performance for the year ended March 31, 2012 despite adverse market conditions, on the back of strong customer relationships, technology leadership and service support. The drop in percent margins for the year is largely due to an adverse mix with a faster growth in smaller product as compared to larger product, aside from increasing inflation. Our continued focus on driving efficiencies and reducing cost has helped mitigate these adverse impacts to a great extent. While the demand environment has slowed down, we remain confident about our profitable growth prospects. The Company is positioned well to sustain its market competitiveness and long-term profitable growth with investments in new technologies, customer service capabilities and capacity expansions particularly at our Megasite at Phaltan. Along with making investments for growth, the Company continues to work closely with the government and civic bodies on community improvement projects to strengthen and make a positive contribution to the communities at Phaltan, Pune and other locations where Cummins is present.”