Cummins India Limited (NSE: CUMMINSIND) The Board of Directors of Cummins India Limited (CIL), at their meeting held, reviewed, and approved the financial results for the quarter and year ended March 31, 2023.
The year ended March 31, 2023 saw a 26% increase in total sales compared to the previous year. In the quarter ended March 31, 2023, total sales increased by 29% compared to the same quarter last year. CIL reported record revenue for the second financial year in a row, driven by strong domestic and export demand.
Pricing actions and cost management resulted in a record profit, but due to emission changes and supply chain challenges, we remain cautiously optimistic about the short to medium-term demand outlook. The CPCB IV+ norms will become effective July 1, 2023, for gensets up to 800 kW. Ashwath Ram, Managing Director, Cummins India Limited, said, Global end markets for export held up well for the year, while monetary policy actions by various central banks around the world to contain inflation may pose a challenge to consumption in the near term.
