Strong operating performance aided by exports
Cummins India (KKC)'s 1QFY21 revenue came in at INR11.8b (2-yr CAGR: 6%) and was 12% ahead of our expectation. Adj. PAT came in at INR1.3b and was...
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Cummins (4QFY21): Muted performance. Maintain BUY
We maintain BUY on CIL with reduced SOTP-based target price of INR 1,024 (INR 1,068 earlier). We have cut FY22E/23E EPS by 10.4%/2.5% to account...
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