Cummins India lost 4.06% to Rs 300 at 14:21 IST on BSE after the Chairman of the firm told in a media interview that the firm may grow at slower pace as the domestic currency and the raw material costs climb higher.
The scrip had touched a high of Rs 310 and a low of Rs 298.05 so far during the day. The stock had hit a 52-week high of Rs 462.80 on 27 September 2007 and a 52-week low of Rs 246.50 on 19 March 2007.
The mid-cap auto ancillary firm has an equity capital of Rs 39.60 crore. Face value per share is Rs 2.
At the current price of Rs 300, the scrip trades at a PE multiple of 19.90, based on Q3 December 2007 annualised EPS of Rs 15.07.
Profit growth may slow to about 15% in the year starting 1 April 2008 from an estimated 20% this year, Chairman Anant Talaulicar said in a media interview. Talaulicar said Cummins India may increase the prices of its diesel and natural gas engines to offset costs.
The net profit of Cummins India rose 18.6% to Rs 74.61 crore on 23.7% rise in sales to Rs 590.23 crore in Q3 December 2007 over Q3 December 2006.
Cummins India is engaged in manufacturing and selling internal combustion engines, diesel generating sets and special purpose machines. The products of the engine business segment are used for various applications such as power generation, construction, compressor, mining, marine, locomotive and fire fighting.
No comments:
Post a Comment