>CUMMINS INDIA LIMITED (FIRST CALL)

• CIL is India’s leading manufacturer of diesel engines with a range from 205 hp to 2365 hp and value packages serving the Power Generation, Industrial and Automotive Markets. CIL also caters to the growing market for gas and dual fuel engines.

• During the quarter the domestic business, power generation continues to remain the dominant
business vertical with 50% contribution to revenues while the industrial segment contributed
15-20% and auto business 10%.

• Revenues were lower by INR 700 mn in the quarter due to an illegal strike at one of the production facilities.

• The capital expenditure plan for FY09 is Rs.2000mn for all the Cummins group companies.

• Phaltan facility will be operational by CY10 and is expected to produce mid range of products.

• Net sales and PAT of the Company are expected to grow at a CAGR of 11% & 17% over FY08 to FY11E.

To read the full report: CUMMINS INDIA