The Board of Directors of Cummins India, at their meeting held, reviewed and approved the financial results for the quarter ended June 30, 2021. Performance Highlights (based on standalone financial results) for the quarter ended June 30, 2021:

Ashwath Ram, Managing Director, Cummins India, said: During the quarter, India experienced a rapid spread of the second wave of Covid-19, which resulted in a significant rise in infection and mortality. Various state and local governments imposed severe restrictions to control the spread of the virus. The Government prioritized oxygen supply for healthcare purposes. The supply of parts was severely disrupted during this period, leading to inefficiencies in plant operations that impacted shipments during the quarter. Customer and supplier factory operations were also disrupted. By early June, the supply chain started to recover; as of date, the supply chain is slowly returning to the expected level of operations. The company took proactive actions to ensure optimal utilisation of plant operations to ensure supply commitments to customers. Imported parts, especially electronics and semiconductors, continue to have a long lead time; the company is taking proactive steps to manage inventory levels of such components.  

While we operate through these trying times, our priority continues to be the safety and well-being of our employees, supporting our communities, serving customers, staying on course with our product development initiatives, prudently managing cost, and conserving cash. 

For the safety and well-being of employees and their families, the company organized vaccination camps at various company locations. Approximately 19,000 persons, that includes employees of other Cummins entities and their families, were inoculated. 

Our domestic markets for the quarter continued to show promise propelled by the Government's push on infrastructure, pent-up demand, and economic recovery across multiple segments. In our export market, we see demand revival in quite a few regions as countries recover based on an increased vaccination pace and an abating infection trend.

The company continues to navigate this period of uncertainty with a strong balance sheet, excellent manufacturing and service infrastructure, committed workforce, and best-in-class processes.  

The company continues to take steps to introduce newer and more efficient technologies in the market. During the quarter, the company introduced several new products in power generation, industrial, and distribution segments to continue to provide world-class products and technologies to domestic and export customers.

The company is hopeful of sequential recovery in economic activities based on:

However, market conditions remain uncertain, and the visibility of complete end market recovery is somewhat limited, mainly due to anticipation of the third wave of Covid-19. Thus, the company is not providing full-year revenue guidance for FY 2022.

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 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. 

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 US $19.8 billion Cummins Inc., Cummins in India is a Group of seven legal entities across 200 locations in the country with a combined turnover of over Rs 11,200 crore in 2020 and employing over 10,000 individuals.