Antique Stock Broking maintains hold on Cummins India, target price Rs 575

Antique Stock Broking has maintained hold rating on Cummins India with a target price of Rs 575. Shares of Cummins India ended down 0.5% at Rs 545.8 on Monday while BSE Sensex closed 70.99 points down at 40,938.72.

Company Financials

For the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 1297.30 crore, down -2.10% from last quarter sales of Rs 1325.11 crore and down -11.24% from last year same quarter sales of Rs 1461.65 crore. The company has reported net profit after tax of Rs 149.98 crore in the latest quarter.


The company’s top management includes Mr.Antonio Leitao, Mr.Donald G Jackson, Mr.J M Barrowman, Mr.Mark Levett, Mr.Nasser Munjee, Mr.Norbert Nusterer, Mr.P S Dasgupta, Mr.Prakash Telang, Mr.Rajeev Bakshi, Mr.Venu Srinivasan, Mrs.Anjuly Chib Duggal, Ms.Lorraine Meyer. Company has S R B C & Co. LLP as its auditor. As on 30-09-2019, the company has a total of 277,200,000 shares outstanding.

Investment Rationale

Cummins India has maintained its guidance for both domestic and export businesses citing concerns on the overall economic activity, said Antique. The brokerage has maintained its cautious stance as visibility around any meaningful recovery in the demand situation remains dim in the near term.