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Cummins India Limited Registered Office Cummins India Office Campus Tower A, 5th Floor, Survey No. 21, Balewadi

Pune 411 045 Maharashtra, India

Phone +91 20 67067000 Fax +91 20 67067015

cumminsindia.com [email protected] CIN : L29112PN1962PLC012276

Ref: SEC/STEX/2018/NSE/BSE June 04, 2018

The Relationship Manager BSE Limited P. J. Towers, Dalal Street, Fort Mumbai 400001. BSE Scrip Code: 500480

National Stock Exchange of India Limited ‘Exchange Plaza’, C - 1, Block G, Bandra-Kurla Complex, Bandra (E), Mumbai 400051. NSE Symbol: CUMMINSIND

Subject: Intimation of presentation at the analyst meeting held on June 01, 2018. Dear Sir/Madam, With reference to our intimation dated May 25, 2018 and May 30, 2018 towards the analyst

meeting, we are enclosing for your records a copy of the presentation made at the said

analyst meeting conducted by the Company on June 01, 2018.

We request you to kindly take this intimation on your records.

Thanking you,

Yours truly, For Cummins India Limited, K. Venkata Ramana Group Vice President – Legal & Company Secretary ICSI Membership No. – FCS 4138 Encl.: As above

(This letter is digitally signed)

Confidential

June 1

Cummins

India Limited

Analyst and

Investor Meet Rajiv Batra Chief Financial OfficerCummins India Limited

2

Cummins in India – Since 1962

KirloskarCumminsLtd.

CumminsDiesel Sales &Service India(CDS&S)

NewageJV withCrompton

1962 2003200220001989 19981967 2010

CumminsExhaustIndia Ltd (CEIL)

CumminsSales &Service India

CumminsGeneratorTechnologies

LHP SEZ at Megasite

CSS Merged into CIL(2009)

Exhaust Business(CEIL) Divested

KPITCummins Infosystems Ltd.

ValvolineCumminsLtd.

CumminsResearch & Technology India Ltd.

2011 2014 2015

Cummins Residential Campus

Cummins Technical Training Center

India Office Campus

India PDC

HHP RebuildCenter

KPIT Divested

3

Legal Entities BusinessesCummins India Limited

Cummins Sales and Service Pvt. Ltd.

Valvoline Cummins Pvt. Ltd.

Cummins Generator Technologies Pvt. Ltd.

Wholly owned service dealership

Lubricants

Industrial

Cummins India – Business Overview

Powergen Distribution

4

Cummins India Limited

• Established in 1962, 51% subsidiary of Cummins Inc.

• Manufactures a variety of engines operating on diesel, natural gas anddual fuel

• Provides innovative solutions across• Industrial Business• Power-generation• Service support (Distribution Business)

• Manufacturing capacity of over 75,000 engines p.a.

• Plants manufacture engines of various models – NTs, V28, K/KV & Qseries

• Amongst India’s largest exporters of Engineering Products

• Plants: Kothrud, PDC at Phaltan, Power Generation Exports plant(at Phaltan SEZ)

1962- Cummins India Limited , Kothrud Plant

2014- Power Generation Plant SEZ, Phaltan

2010 - Parts Distribution Center , Phaltan

5

2,845

3,951 4,052 4,509

3,899 4,321 4,588

4,958 4,952

379 351

79

2,845

3,951 4,052

4,509

3,899 4,321

4,967 5,310

5,030

FY 2010 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018

CIL Revenue Trend

* Excise duty part of sales from FY16 onwards; however excluded from CAGR calculation

₹ Cr

CAGR: 7%

CAGR: 6%

6

Domestic vs Exports Trend₹ Cr

2,412 2,920 2,880

3,240 2,701 2,599

2,925 3,347 3,378

433

1,026 1,172

1,269

1,198 1,722 1,663

1,611 1,574

2,845

3,945 4,052

4,509

3,899

4,321 4,588

4,958 4,951


Domestic Export

CAGR since FY

2010

7%

6%

CAGR since FY

2014

18%

4%

7

Domestic Revenue: Segment wise₹ Cr

518 507 554

688 760

FY 2014 FY 2015 FY 2016 FY 2017 FY 2018

Industrial

991 984 1,068

1,174 1,243

FY 2014 FY 2015 FY 2016 FY 2017 FY 2018

Distribution

1,124 1,055

1,249 1,332 1,333

FY 2014 FY 2015 FY 2016 FY 2017 FY 2018

Powergen

CAGR: 10%

CAGR: 6%

CAGR: 4%

8

Export Revenue: Segment wise₹ Cr

767 846

694 740 782

FY 2014 FY 2015 FY 2016 FY 2017 FY 2018

HHP Exports

381

815 894

772 674

FY 2014 FY 2015 FY 2016 FY 2017 FY 2018

LHP Exports

50 61

69

89

115

FY 2014 FY 2015 FY 2016 FY 2017 FY 2018

Spares

CAGR: 1%

CAGR: 15% (FY14)CAGR: -6% (FY15)

CAGR: 24%

9

CIL PBIT Trend₹ Cr

* Above excludes one-time income

613

807 779

994822 859 920 925 867

21.5%20.4%

19.2%

22.1%21.1% 19.9% 20.1%

18.7%17.5%

0.0%

5.0%

10.0%

15.0%

20.0%

0

200

400

600

800

1000

1200


Future

.

10

Dividend Trend₹ Cr

238

297 305

360 360 388 388 388

416

600%

750%

550%

650% 650%700% 700% 700%

750%

-200%

-100%

0%

100%

200%

300%

400%

500%

600%

700%

800%

-

50

100

150

200

250

300

350

400

450


* Excluding Dividend Distribution tax * Drop in dividend % in 2012 – owing to bonus share; No drop in absolute dividend value

11

CIL Share Price Performance

-50%

0%

50%

100%

150%

200%

Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18Cummins India Limited Sensex

CIL TSR since inception: 21% CAGR₹ 100 invested in CIL in 1965 would give ₹ 28.5 Lakhs in Mar-18

Ret

urn

over

Mar

-10 CIL: 9%

Sensex: 8%

CAGR

12

CIL – Domestic and Exports Business

India Limited

Rail Mining Marine ConstructionCompressor

INDUSTRIAL

POWERGEN DISTRIBUTION

DO

MES

TIC

EXPO

RTS

Engines From Kothrud

Engines (23L, 60L) and HHP gensets from Megasite

LHP Engines and Gensetsfrom Megasite

India Limited

Technologies India Limited

For HHP Gensets, Engines to be sourced from CIL

13

Bettering lives of Shareholders Strong balance sheet

• Debt to capital

• Cash & Equivalents #

Grew our business

• Sales growth (8 Yrs CAGR)

Returned value to shareholders

• Total shareholders’ return* (5 Yrs)• Total shareholders’ return* since inception

Zero Debt₹ 725 Cr

11%

# Includes Cash & Bank balances and Investments.* Share price appreciation + return on dividend reinvestment (Annualized)

7%

21%

14

In Summary

CIL will continue its journey on the PROFITABLE Growth Path

CIL will continue to look at COST OPTIMIZATION to maintain and improve GROSS MARGINS

CIL will be ready for FUTURE EMISSION changes ( CPCB III, CEV BSIV)

CIL will continue to grow and be the DOMESTIC FACING ARM for Cummins in India

Confidential

June 1

Cummins

India Limited

Analyst and

Investor Meet Sandeep SinhaManaging Director Cummins India Limited

17

AGENDAOur Growth Strategy 01

02 Capabilities

03 Growth

04 Culture

05 Q + A

18

Rajiv BatraChief Financial Officer

Mark FirthEngineering

Mandar DeoPower Systems

Sandeep Sinha

Managing Director – India ABO

Amit KumarStrategy Officer

Sophia ManivelInformation Technology

Venkat RamanaLegal & Secretarial

Aditi SharmaQuality

Ashwath RamEngine Business

Anjali PandeyComponents Business

Bhavana BindraDistribution Business

Prafulla NeemaSupply Chain

Vikas ThapaHuman Resources

India Leadership Team

19

Makes people lives betterby powering a more prosperous world.

2020

Powering the Power House of the Nation

2121

Metro Station (Nearly 100 Stations)– New Delhi

2222

Amazon Warehouse- Hyderabad

2323

ISRO- Sriharikota

2424

Tirupathi- Tirumala City

2525

DLF- Cyber City- Gurugram

2626

Akshardham Temple- New Delhi

2727

Leh

2828

DEMUDEMU -

2929

SPART-Powered by N14 engines

3030

Mining Dump Truck ( Application ) Mining – Dump Truck

3131

Tata Hitachi 20T Excavator powered by our 6BTA – One of the largest selling excavators in India

32

Hyundai Rolex 210 - 21T Excavator Powered by our 6BTA Engine being used for Rock Breaking

3333

Construction – Liugong Wheel Loader powered by our QSB6.7 engine

3434

L&T KSM 303 – Surface Miner Powered by VTA 28

3535

Bore Wells

3636

Marine- SLNS Sayurala, the first Offshore Patrol Vessel (OPV) constructed by Goa Shipyard Ltd. for Sri Lankan Navy; Powered by 4 nos. VTA28 D(M) DG sets

3737

Marine- Surveillance Vessel for Indian Navy built at Hindustan Shipyard Ltd., Vizag; 3 vessels each powered by QSK60-DM DG set

3838

Oil & GasOil & Gas

39

CMI Inc. Growth StrategyCORE CAPABILITIES GROWTH PLATFORMS

NEW TECHNOLOGIES

Engine

Components

PowerSystems

Distribution

Technology Leadership

Scale Advantage

Distribution Network

Partnerships & Customers

Build on our strength in Powertrain

Data-Enabled Services

Leverage our Global

Distribution Channel

Increase Participation in Attractive

Markets

40

CIL Growth Strategy

Content Growth

Core New

CORE CAPABILITIES GROWTH PLATFORMS

CONTINUOUS IMPROVEMENT INITIATIVES(ACE, AMaZe, aSCent)

Power Generation

Distribution

Industrial

Export

Technology Leadership

Scale Advantage

Distribution Network

Partnerships & Customers

Telematics

Electrification

Advanced Analytics

Renewables

Alternate Fuels

Market Share Growth

New Products

4141

SCALE ADVANTAGE

4242

TECHNOLOGY LEADERSHIP

QSK 50

Advance Test Cells Marine

Silent Power Car

4343

DISTRIBUTION NETWORK

44

STRONG PARTNERSHIP AND CUSTOMERS

4545

CORE GROWTH

MARKET SHARE

CONTENT GROWTH NEW PRODUCTS

Rail Marine

Construction

Commercial Realty

Hospitality

Datacenters

CPCB III products

Gas Genset CEV- BS IV

Construction

4646

NEW GROWTH

TELEMATICS

RENEWABLES

ELECTRIFICATION

BATTERY TECHNOLOGY

ALTERNATE FUELS GAS ENGINE

CONNECTED AND ADVANCE ANALYTICS

FUEL CELL

47

Continuous Improvement initiatives

ACE AMaZe aSCeNt

Accelerated Cost Efficiency

Six Sigma

Accelerated Supply Chain Excellence and Transformation

Accelerated Move towards Zero

defects

48

Leadership

Our People Collaboration Diversity and Inclusion

49

Phaltan

Pune

JamshedpurDewas

Pithampur

Equivalent of 14000 + MT of carbon footprint avoided

9240 employees donated blood saving 27000+ lives

95,000+ trees Sustained

12000+ Million gallons water harvested

3.67 million students reached through Coach them Young

12 Model Villages sustained

TEC sites in Kolhapur and Phaltan sustained

CCEW in Pune in Nagpur1100+ students awarded Cummins Scholarship

Internal Use Only

and counting

People Positively Impacted

2,600clean cook stoves

Monsoon Resilient Maharashtra: Water conservation across 3,500 hectares, making 5,500 residents water secure

Income Generation Program for 80+ Women

Our Community

5050

Our Community Fort Cleaning

Water Conversation ,Model Town – Phaltan

Cummins College of Engineering

ITI Center Skill Development – Kolhapur

515151

DOMESTIC EXPORTS

Over a cycle of 5 Years

9-11%Over a cycle of 5 Years

0-5 %

52

Q+A

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