Cummins India : Unaudited Quarterly Financials Results for the quarter ended June 30, 2022

C.

Ref: STEX/SECT/2022

August 10,2022

The Relationship Manager,	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 Code: 500480	NSE Symbol: CUMMINSIND

Subject: Outcome of Board Meeting - Jnaudited standalone and consolidated Financial Results for quarter endf!d June 30, 2022, Appointment of Additional Director and approval of Postal Ballot Voting period and Notice.

Dear Sir/ Madam,

This is to inform you that the Board of Directors of the Company at their meeting held on August 10, 2022, inter-alia, unanimously approved/took on record the following:

1. Unaudited Financial Results with Auolito1rs' Limited Review Report.

In terms of Regulation 30 read with Sched le Ill of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing a copy of the standalone and consolidated unaudited financial results for the quarter ended June 30, 2022. On the recommendation of the Au it Committee, Board of Directors have approved these results at their meeting held on August 10, 2022. We are also enclosing a copy of 'Limited Review' report given by the Statutory Auditors' of the Company for the said results.

2. Appointment of Ms. Rekha (DIN: 08501990) as an Additional Director (Non­ executive and Independent) of the Company.

We wish to inform the exchange that based on the recommendations of the Nomination and Remuneration Committee, the Board of Directors have approved the appointment of Ms. Rekha, as an Additional Director (Non-executive and Independent) of the Company w.e.f. August 11, 2022 for a pe1·iod of 5 years, subject to the approval of Members through Postal Ballot.

3. Approval of voting period and notice for Postal Ballot.

We further wish to inform the exchange that the Company proposes to conduct inter­ alia Postal Ballot for regularization of Ms. Rekha (DIN: 08501990) who is being appointed as an Additional Director (Non-execu.ive and Independent) of the Company w.e.f. August 11, 2022 and approval for additional material Related Party transactions with Cummins Group entities. The Board of Directors in its meeting have approved the voting period and Notice for Postal Ballot.

Cummins India Limited

Registered Office

Cummins India Office Campus

Tower A, 5" Floor, Survey No. 21, Balewadi

Pune 411 045 Maharashtra, India

C.

Board Meeting start time: 10.55 Hrs

Board Meeting end time: 11.50 Hrs

Kindly take this intimation on your record.

Yours faithfully,

For Cummins India Limited

Vina�

Company Secretary & Compliance Officer

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 [phone]

Price Waterhouse & Co Chartered Accountants LLP

Review Report

To

The Board of Directors

Cummins India Limited

Cummins India Office Campus, Tower A,

5th Floor, Survey No. 21, Balewadi, Pune-411045

1. We have reviewed the unaudited consolidated financial results of Cummins India Limited (the "Parent"), its subsidiary (the parent and its subsidiary hereinafter referred to as the "Group"), and its share of the net profit after tax and total comprehensive income of its jointly controlled entities and associate company (refer Note 1 on the Statement) for the quarter ended June 30, 2022 which are included in the accompanying 'Unaudited consolidated financial results for the quarter ended June 30, 2022' (the "Statement"). The Statement is being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEEi (Listing Obligations and DisclosureRequirements) Regulations, 2015, as amended (the "ListingRegulations"), which has been initialed by us for identification purposes.

2. This Statement, which is the responsibility of the Parent's Management and has been approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

We also performed procedures in accordance with the circularissued by the SEBI under Regulation 33 (8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

4.	The Statement includes the results of the following entities:
		Name of the entity	As at June 10, 2022.
		% Holding	Consolidated as
		Cummins Sales and Service Private Limited	100%	Subsidiarv
		Cummins Generator Technologies India Private Limited	48.i:;4%	Associate
		Valvoline Cummins Private Limited	50%	Joint Venture
		Cummins Research and Technology India Private Limited	so%	Joint Venture
5.		Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the
		consideration of the review report of the other auditors referred to in paragraph 6 below, nothing has come to our
	attention that causes us to believe that the accompanying Statement has not been prepared in all material respects
		in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting
	Standard and other accounting principles generally accepted in India and has not dis	_Y!,�il.fl,emtatJ�	· ed
		to be disclosed in terms of Regulation 33 of the Listing Regulations, includin
		disclosed, or that it contains any material misstatement.

Price Waterhouse & Co Chartered Accountants LLP, 7th Floor, Tower A - Wi	erwada
Pune - 411 006
T: [phone], F: [phone]
Registered office and Head office: Plot No. 56 & 57. Block ON, Sector-V. Salt Lake, Kolkata - 700 091

Price Waterhouse & Co. (a Partnership Firm) converted into Price Waterhouse & Co Chartered Account3nts LLP (a Limited Liability Partnership with LLP identity no:

LLPIN AAC-4362) with effect from July 7, 2014. Post its conversion to Price Waterhouse & Co Chartered Accountants LLP, its ICAI registration number is 304026E/E300009 (ICAI registration number before conversion was 304026E)

Price Waterhouse & Co Chartered Accountants LLP

6. The unaudited consolidated financial results also includes the Group's share of net profit after tax of Rs. 19.54 crores and total comprehensive income of Rs. 19.59 crores for the quarter ended June 30, 2022, as considered in the unaudited consolidated financial results, in respect of one joint venture, whose interim financial information have not been reviewed by us. This interim financial information has been reviewed by other auditors and their report, vide which they have issued an unmodified conclusion, have been furnished to us and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this joint venture, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of the above matter.

7. The unaudited consolidated financial results includes the interim financial information of one subsidiary which have not been reviewed by us, whose interim financial information reflect total revenue of Rs. 30-49 crores, total net profit after tax of Rs. 1.21 crores and total comprehensive income of Rs. 1.21 crores for the quarter ended June 30, 2022 as considered in the unaudited consolidated financial results. The unaudited consolidated financial results also includes the Group's share of net profit after tax of Rs. 12.54 crores and total comprehensive income of Rs. 12.60 crores for the quarter ended June 30, 2022, as considered in the unaudited consolidated financial results, in respect of one associate and one joint venture, based on their interim financial information which have not been reviewed by us. According to the information and explanations given to us by the Management, these interim financial information are not material to the Group.

Our conclusion on the Statement is not modified in respect ofthe above matter.

8. The comparative figures of the Group as set out in the Statement for the quarter ended June 30, 2021 were reviewed by another firm of Chartered Accountants who, vide their report dated August 11, 2021 expressed an unmodified conclusion on the same.

Our conclusion on the Statement is not modified in respect of the above matter.

For Price Waterhouse & Co Chartered Accountants LLP

Firm Registration Number: 304026E/E-300009

Jeetendra Mirchandani

Partner

Membership Number: 48125

UDIN: 22048125AORRTD8316

Pune

August 10, 2022

Price Waterhouse & Co Chartered Accountants LLP

Review Report

To

The Board of Directors

Cummins India Limited

Cummins India Office Campus, Tower A,

5th Floor, Survey No. 21, Balewadi, Pune-411045

1. We have reviewed the unaudited financial results of Cummins India Limited (the "Company") for the quarter ended June 30, 2022, which are included in the accompanying 'Unaudited standalone financial results for the quarter ended June 30, 2022' (the "Statement"). The Statement has been prepared by the Company pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations, 2015"), which has been initialled by us for identification purposes. The Statement is the responsibility of the Company's management and has been approved by the Board of Directors. Our responsibility is to issue a report on the Statement based on our review.
2. We conducted our review in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement.
3. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.
4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the Statement has not been prepared in all material respects in accordance with the applicable Accounting Standards prescribed under Section 133 of the Companies Act, 2013 and other recognised accounting practices and policies and has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.
5. The standalone financial results of the Company for the quarter ended June 30, 2021 prepared in accordance with Companies (Indian Accounting Standards) Rules, 2015, were reviewed by another firm of chartered accountants who, vide their report dated August 11, 2021, expressed an unmodified conclusion on those financial results.
   Our conclusion is not modified in respect of these matters.

For Price Waterhouse & Co Chartered Accountants LLP

Firm Registration Nu er: 304026E/E-300009

Jeetendra Mirchandani

Partner

Membership Number: 48125

UDIN: 22048125AORRTl1983

Pune

August 10, 2022

Price Waterhouse & Co Chartered Accountants LLP, 7th Floor, Tower'A - Wing 1, Business Bay, Airport Road, Yerwada Pune-411 006

T: [phone], F: [phone]

Registered office and Head office: Plot No. 56 & 57. Block ON, Sector-V, Salt Lake, Kolkata - 700 097

Price Waterhouse & Co. (a Partnership Firm) converted into Price Waterhouse & Co Chartered Accountants LLP (a Limited Liability Partnership with LLP identity no: LLPIN AAC-4362) with effect from July 7, 2014. Post its conversion to Price Waterhouse & Co Chartered Accountants LLP, its ICAI registration number is 304026E/E300009 (ICAI registration number before conversion was 304026E)