Cummins India : Earnings Update Q4 FY 2021-22

C.	'
	Ref: STEX/SECT/2022�
	May 26, 2022
	The Relationship Marager,	National Stock Exchange of India Limited
	DCS-CRD	Exchange Plaza, 5th Floor,
	BSE Limited,	Plot No. C/1, G Block,
	Phiroze Jeejeebhoy Towers,	Sandra - Kurla Complex,
	Dalal Street, Fort,	Sandra (East),
	Mumbai 400 001	Mumbai 400 051
	BSE Scrip eode: 500480	NSE Symbol: CUMMINSIND
	J

Subject: Pre4s Release - May 26, 2022.

Dear Sir/ Madam,

We are enclosing for your records a copy of the Press Release dated May 26, 2022 regarding standalone and consolidated audited financial results of the Company for the year ended March 31, 2022.

Kindly take this intimation on your record.

Thanking you,

Yours faithfully,

For Cummins India Limited

Encl.: As above.

Cummins India Limited
Registered Office
Cummins India Office Campus
Tower A, 5"' Floor, Survey No. 21, Balewadi
Pune 411 045	Maharashtra, India
Phone +91 20	67067000
Fax [phone]
cumminsindia.com
[e-mail]	CIN: L29112PN1962PLC012276

Contact:

Media contact:

Abhilasha Shukla - Email: [e-mail]) / Mobile: [phone]

Ayushi Das - Email:[e-mail]/ Mobile: [phone]

May 26, 2022

For Immediate Release

Cummins India Limited Results for the quarter and year ended March

31, 2022

Pune, India: Cummins India Limited (NSE: CUMMINSIND) The Board of Directors of Cummins India Limited (CIL), at their meeting held today, reviewed, and approved the financial results for the quarter and year ended March 31, 2022.

Performance Highlights (based on standalone financial results) for the quarter ended March 31, 2022:

• Total Salesfor the quarter at ₹ 1,468 Cr. increased by 19% compared to the same quarter last year and decreased by 14% compared to the last quarter.
• Domestic salesat ₹ 1,046 Cr. increased by 7% compared to the same quarter last year and decreased by 17% compared to the last quarter.
• Exports Salesat ₹ 423 Cr. increased by 66% compared to the same quarter last year and decreased by 4% compared to the last quarter.
• Profit before taxat ₹244 Cr. is lower by 1% compared to the same quarter last year and by 24% compared to the last quarter.

Performance Highlights (based on standalone financial results) for the year ended March 31, 2022:

• Total Sales for the year ended March 31, 2022, at ₹ 6,026 Cr., increased by 42% compared to last year.
• Domestic sales for the year ended March 31, 2022, at ₹ 4,416 Cr., were higher by 42% compared to last year.
• Exports Sales for the year ended March 31, 2022, at ₹ 1,610 Cr., were higher by 40% compared to last year.
• Profit before tax (before exceptional items) for the year ended March 31, 2022, at ₹ 1,027 Cr., is 27% higher as compared to the last year.
• Profit before tax (after exceptional items) for the year ended March 31, 2022, at ₹ 1,159 Cr., is 44% higher as compared to the last year.

Ashwath Ram, Managing Director, Cummins India Limited, said:

Post-Covid waves 1 and 2, the Indian economy rebounded strongly due to various factors like mass vaccination, proactive fiscal policy measures directed towards ease of doing business, Make in India, etc. Monetary policy remained accommodative with a soft interest rate scenario till recent times. Besides, pent-up demand was broad-based across various segments of the economy. We believe that despite supply chain disruptions, high commodity costs, and geopolitical issues, India is on the path to sustained economic recovery considering strong domestic demand and robust export performance. Economic recovery is visible with record monthly GST collections over ₹ 1 Lakh Cr. for most of the year; increased spending on discretionary items; Capex, primarily private Capex cycle is slowly coming back. An elevated level of inflation and associated actions to contain inflation from the Government and the RBI to raise interest rates may to some extent, impact demand in the near to medium term.

I am pleased to announce that Cummins India Limited, its associate and JV companies Cummins Generator Technologies India Pvt Limited, and Valvoline Cummins Private Limited, posted record annual revenue in FY'22. This record revenue performance was possible due to focused and dedicated efforts of our employees, supply chain partners, and continued strong support from Cummins Inc. to help us meet customer demand. I am delighted that our teams delivered record revenue despite significant supply chain disruptions. We continue to leverage our globally

integrated supply chain to address the supply challenges, and our endeavor remains to sustain profitable growth in this challenging inflationary business environment.

Future Outlook:

We expect continued growth momentum for the economy, and we are also hopeful that the lagging segments will rebound in FY'23. We anticipate that India's growth momentum will sustain with a strong push from the Government through policy interventions and infrastructure spending coupled with an improvement in supply chain situation. However, world trade continues to be impacted by Covid-19, and its variants are still active in some parts of the world alongside geopolitical tensions and other challenges. Inflationary impact, especially commodities, continues to be a challenge, and we continue to take tactical pricing and productivity actions to mitigate the same.

Given the uncertainty in the current business environment due to geopolitical situation and supply chain challenges, the company is not providing full-year revenue guidance for FY'23.

About Cummins India Limited

Cummins India Limited, part of the Cummins Group in India, is headquartered in Pune since 1962 and is the country's leading manufacturer of diesel and natural gas engines for power generation, industrial and automotive markets. Cummins India Limited has a country-wide network of 20 dealerships with over 450 service points that provides products, services, and after-market solutions for uptime of Cummins equipment and engines to customers in India, Nepal, and Bhutan.

About Cummins Group in India:

Cummins in India, a power leader, is a group of complementary business units that design, manufacture, distribute, and service engines and related technologies, including fuel systems, air handling, filtration, emission solutions, and electrical power generation systems. Its technology and pioneering initiatives are bringing innovative solutions and dependable services at the best possible value to users across the country. Its high-performance outlook is based on customer focus, integrity, and capability of its people. Part of the $19.8 billion Cummins Inc. USA. Cummins in India is a Group of seven legal entities across 200 locations in the country with a combined turnover of ₹17,000 crores in 2021 and employing over 10,000 individuals. Learn more at cummins.com.

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