Power Generation Business Unit of Cummins India Limited announced the inauguration of its new manufacturing facility at Pirangut, Pune. The new unit will specialize in manufacturing small generator sets from 15 -140 kVA for Original Equipment Manufacturers and distributors within and outside India.
The Power Generation Business Unit of Cummins India Limited announced the inauguration of its new manufacturing facility at Pirangut, Pune. The new unit will specialize in manufacturing small generator sets from 15 -140 kVA for Original Equipment Manufacturers and distributors within and outside India. Manufacturing of generator sets below 15 kVA will also commence later in 2008. Dedicated Export Oriented Unit (EOU) and Domestic Tariff Area (DTA) plants at the facility will facilitate efficient production of this new range of generator sets.
The announcement of the new facility coincides with the launch of the company’s new range of X series generator sets for global and domestic markets.
Inaugurating the facility, Anant Talaulicar, Chairman & Managing Director, Cummins India Limited said, “The inauguration of this new facility in Pirangut is one of the major milestones in the history of Cummins India. The growth of the Power Generation Business of Cummins India has been remarkable. We entered the small genset market around six years ago and within a short period we have been able to consolidate a strong leadership position with a premium product line and highly dependable products. The product lines have broadened our power generation customer base globally, and have helped us to become the only company in India which can truly offer a complete range from 15 to 2500 kVA. With the new facility, we are significantly expanding our capacity to be able to meet our rapidly growing customer demand in this segment.”
Tony Satterthwaite, Vice President, Worldwide Genset Business said, “Cummins Power Generation is a global leader dedicated to increasing the availability and reliability of electric power around the world and our business in India contribute significantly to our global strength. Based on our success in small generator sets in India, for the past six years we have been working on leveraging India as a global source for small generator sets. The new facility has been built to global standards and addresses capacity constraints, positioning us for aggressive growth. Along with the new facility launch, we have also globally launched the new 30-38 kVA range of generator sets. The launch was attended by our distributor partners from over 40 countries, underlining the global importance of our manufacturing facilities in India. We expect to see aggressive growth locally and globally for these products. “
Rampraveen Swminathan, Vice President, Cummins Power Generation India added, “As Cummins we have been consistently focused on delivering to our commitments. Over the past few years, we have seen a strong growth in volumes. With new product programs and range extensions, we forecast high growth in the coming years. In the next few quarters, with the launch of new products, we will be extending our product line down to 7.5 kVA. The new facility will support this growth and at full capacity will manufacture approximately 50,000 open and enclosed generator sets. The launch of the new facility and our investments are part of our ongoing commitment to earn the right to be the first choice of customers.”
The Pirangut facility is comprised of two plants – EOU and DTA, apart from common utilities and administrative areas. The total capacity of the facility (on multiple shifts) is around 50,000 generator sets per annum and is comprised of over 100,000 square feet of manufacturing space. The facility will use automated flow lines for high volume genset assembly and meets global safety and energy efficiency standards. The facility will be installing Cummins Power Generation generator sets, energy management systems and power quality systems to meet its backup power requirements.
Sourced From: Genesis Burson-Marsteller
Cummins stock price
On November 24, 2015, Cummins India closed at Rs 1006.75, up Rs 4.10, or 0.41 percent. The 52-week high of the share was Rs 1246.70 and the 52-week low was Rs 810.00.
The company's trailing 12-month (TTM) EPS was at Rs 28.20 per share as per the quarter ended September 2015. The stock's price-to-earnings (P/E) ratio was 35.7. The latest book value of the company is Rs 104.13 per share. At current value, the price-to-book value of the company is 9.67.
READ MORE ON Cummins India, Power Generation Business Unit, generator sets , Export Oriented Unit , Domestic Tariff Area , generator sets , Anant Talaulicar, Tony Satterthwaite, Rampraveen Swminathan
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