Minerva Capital Research Solutions

Cummins India

NSE: CUMMINSINDBSE: 500480
Compare with peers
₹ 4,620.00▲ 88 (+1.94%)28 Oct, 03:28 pm IST
Market cap
₹ 1,20,274 Cr.
P/E
49.4x
P/B
14.59x
52-week range
3,883.1 – 6,100
ROE
30%
ROCE
40%
Dividend yield
1.5%
Debt / equity
0
Sector
Industrial Products
Industry
Compressors, Pumps & Diesel Engines
Listed on
NSE, BSE

About

Cummins India Limited is a manufacturer of diesel and natural gas engines for power generation, industrial and automotive markets. The Company’s business units include engines, power systems, and distribution. Its engine business manufactures engines from 125 to 400 horsepower (HP) for low, medium and heavy-duty on-highway commercial vehicle markets and off-highway commercial equipment industries spanning construction and compressor (49HP to 430HP). Its power systems business designs and manufactures robust engines with a horsepower spectrum ranging from 700 HP to 4500 HP. These engines are tailored for various sectors, including marine, railways, defense, and mining. Its distribution business provides products, packages, services and solutions for the uptime of its equipment. Its digital products include Acumen, Incal and Inline. It serves end users, Original Equipment Manufacturers (OEMs), channel partners, dealers, distributors, and retailers.

Quick check

The five things to look at first. Open one for more.

Compared with its industry

Compressors, Pumps & Diesel Engines: 16 companies →

Cummins India against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

  • Valuation (P/E)49.4 against a typical 35: pricier than most peers (1st = cheapest).14th of 15
  • Sales growth+17.9% against a typical +14.8% from a year earlier.7th of 15
  • Profit growth+0.8% against a typical +18.6% from a year earlier.9th of 15
  • Share price, 3 months−15.8% against a typical −14.8%.8th of 14
  • Size₹ 1,20,274.3 Cr. market value against a typical ₹ 7,433.3 Cr. (1st = largest).1st of 13

Latest announcements

Exchange filings and their impact on the company.

  • 8 Oct 2026Outcome of Board MeetingLow impactPositivePrice +1.9% on 9 Oct
    Cummins India names internal Cummins executive as Managing Director for 3 years from Nov 2026, ensuring continuity.

    Cummins India said its board on October 8, 2026 approved the appointment of Adegbile Adedapo Adewunmi as Additional Director and Managing Director for three years from November 1, 2026 to October 31, 2029, subject to shareholder approval by postal ballot. Adewunmi is a Cummins Vice President and Corporate Officer leading the $2.5 billion Power Systems Industrial Markets business, credited with $300 million of profitable growth over three years. The move ensures leadership continuity with an internal global executive and has no immediate change to sales or profits.

    Filing

Board meetings

Results dates and other board meetings. Full calendar

Details
4 Nov 2026UpcomingFinancial ResultsTo consider and approve the financial results for the quarter and half year ending September 30, 2026
5 Aug 2026Financial ResultsThe meeting of the Board of Directors of the Company is scheduled on August 05, 2026, inter alia, to consider and approve unaudited financial results (standalone and consolidated) for the quarter ending June 30, 2026.
27 May 2026Financial Results/DividendTo consider and approve the audited Financial Results of the Company (Standalone and Consolidated) for the quarter and Financial Year ended March 31, 2026 and to consider recommendation of Final Dividend on equity shares of the Company for the Financial Year 2025- 26, if any, subject to the approval of the Members at the ensuing Annual General Meeting (AGM) of the Company.
4 Feb 2026Financial Results/DividendTo consider and approve the unaudited financial results for the period ended December 31, 2025, and interim dividend for FY 2025-26.
6 Nov 2025Financial ResultsTo consider and approve the financial results for the period ended September 30, 2025
7 Aug 2025Other business mattersTo consider and approve unaudited and standalone consolidated financial results for the quarter ended June 30, 2025
28 May 2025Financial Results/DividendTo consider and approve Audited Financial Results for the quarter and financial year ended March 31, 2025 and recommendation of Final Equity Dividend for FY 24-25

Share price

1Y change +7.16%
0 of 1 filing day came with a big price move
Volume (shares)Price (₹)
Close price

Financials

Consolidated figures in ₹ crore.

Quarterly results
₹ Cr.Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales1,9222,5412,3192,3162,5093,0962,4702,9073,1703,0553,0113,426
Expenses1,5751,9991,7811,8422,0252,4991,9452,2832,4752,4202,3692,810
Operating Profit346543539473484598525624695634642616
OPM %18%21%23%20%19%19%21%21%22%21%21%18%
Other Income12815318617115716821721218146263227
Interest766533533524
Depreciation384242444549464849505153
Profit before tax429647676595594714690785824626852787
Tax %23%23%20%22%24%22%23%23%24%22%24%23%
Net Profit329499539463449558530604622486649609
EPS in Rs11.871819.4416.6916.2120.1519.121.7922.4517.5323.4321.98

Growth and returns

Compounded yearly rates over each period.

Compounded Sales Growth
10 Years
10%
5 Years
23%
3 Years
16%
TTM
15%
Compounded Profit Growth
10 Years
13%
5 Years
31%
3 Years
26%
TTM
14%
Stock Price CAGR
10 Years
20%
5 Years
39%
3 Years
44%
TTM
—
Return on Equity
10 Years
22%
5 Years
26%
3 Years
29%
TTM
—

Shareholding

Latest: Jun 2026.

Promoters
51%
0 pts in a year
FIIs
21.19%
+3.69 pts in a year
DIIs
19.06%
−3.47 pts in a year
Government
0.1%
0 pts in a year
Public
8.65%
−0.21 pts in a year

P/E and EPS over time

Daily P/E and trailing 12-month EPS. EPS updates with each result.

P/E 49.4xEPS (12 months) ₹ 88.01Median P/E 32.3x
P/E (times)EPS (₹)

Peers

Listed companies in the same business.

Peer comparison
Cummins India₹ 4,620.00₹ 1,20,274 Cr.49.4x14.6x30%—
Samvardhana Motherson International₹ 151.00₹ 1,59,367 Cr.35.1x3.7x10.2%3.2%
Bosch₹ 44,045.85₹ 1,29,918 Cr.51.3x8.1x19.4%13.8%
UNO Minda₹ 1,052.00₹ 60,749 Cr.54.8x9.8x19.1%6.5%
Sona Blw Precision Forgings₹ 752.80₹ 46,984 Cr.64.6x7.3x11.2%14.1%
Endurance Technologies₹ 2,245.00₹ 31,589 Cr.39.7x5.6x15.2%6.5%

Management

Soma Dilip Ghosh
Chief Financial Officer
Prasad S. Kulkarni
Interim Chief Financial Officer
Vinaya Abhijit Joshi
Compliance Officer, Company Secretary
Shveta Arya
Managing Director, Executive Director

Prices are delayed and for information only. Nothing on this page is investment advice.