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Cummins India Ltd.’s revenue dropped 12% sequentially to Rs 12.5 billion, impacted by weak exports, domestic power gen segment.
In addition to the advent of the second Covid-19 wave, issues in terms of supply-side logistics, weakness in certain export geographies impacted the overall momentum.
Growth in next two to three months will be muted impacted by the second wave, and delay in terms of supply of components and raw materials etc.
Domestic industrial and infrastructure demand and export momentum may gain traction post normalisation of operations.
Government is likely to adhere to emission norm deadline and this can result in market consolidation in medium to long term.
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ICICI Securities Cummins India Q4FY21 Result Update.pdf
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