Cummins India shines with Stellar Financial Performance. Announces 1000% dividend
Cummins India Ltd is a part of the Cummins Inc. Group USA. Cummins India Limited is the country’s leading manufacturer of diesel and natural gas engines.
The Company is planning to expand its presence in the fishing boats market.
After the market hours, it posted a NET PROFIT of 45% on year on year basis.
Cummins India Ltd Financials :
Quartely results are as follows:
Here is the updated table with the ‘Tax %’ row removed and the dates in the horizontal columns:(Amount in crores)
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| Sales | 1926 | 2209 | 1900 | 2534 | 2316 |
| Operating Profit | 326 | 341 | 339 | 538 | 544 |
| OPM % | 17% | 15% | 18% | 21% | 24% |
| Net Profit | 318 | 316 | 329 | 455 | 562 |
Net increase in the quarterly results:
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | |
|---|---|---|---|---|---|
| Sales % Increase | – | 14.69% | -13.99% | 33.37% | -8.60% |
| Net Profit % Increase | – | -0.63% | 4.11% | 38.30% | 23.52% |
Yearly results are as follows: (Amount in crores)
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|
| Sales + | 4,329 | 6,140 | 7,744 | 8,959 |
| Operating Profit | 600 | 880 | 1,243 | 1,761 |
| OPM % | 14% | 14% | 16% | 20% |
| Net Profit + | 618 | 887 | 1,130 | 1,661 |
| Dividend Payout % | 67% | 58% | 61% | 33% |
Net increase in the yearly results:
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|
| Sales Increase % | 41.83% | 26.14% | 15.70% | |
| Net Profit Increase % | 43.53% | 27.41% | 46.99% |
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Cummins India Dividend :
Cummins India has announced a Final Dividend of Rs. 20/- (i.e.1000% of Face Value) for the Financial Year 2023-24 in addition to the interim
dividend of Rs. 18/- per share declared on February 07, 2024. The Record date of the Final Dividend will be July 19, 2024 and the Ex-date will be on August 30, 2024.
Anybody who wants to get the dividend must purchase the shares on/before July 18, 2024 to get themselves resister in the record of the eligible receivers of the dividend.
The persons who bought the shares solely for the purpose of dividend can sell the shares on the record date i.e. on 18/07/2024 and still they will be eligible to receive the dividend as their name would have been registered on 17/07/2024.
It is to be noted that on the record date , the share price of Cummins India will fall by the dividend amount i.e it will fall by Rs20 in the opening session to adjust its price to ex-dividend.
So investors are adviced to make their decision wisely.
Cummins India Share price Target :
The share price of Cummins India fell more than 6% today on 30/05/2024 from the previous day’s close . This might be the impact of General Election as all stocks closed negative today. However the company seems to be performing better and it could very soon lead to achive the market price of 40000 rupees/share very soon which would be its new all time high . The present highs and lows are :
| 52 Week High (30-May-2024) | 3,900.00 |
| 52 Week Low (29-Sep-2023) | 1,653.30 |
Disclaimer :
The recommendations made above are by market analysts and are not advised by either the author, nor FinTrend 24. The author, nor the brokerage firm nor FinTrend 24 would be liable for any losses caused as a result of decisions based on this write-up. FinTrend 24 advises users to consult with certified experts before making any investment decision