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Cummins India Limited CUMMINSIND NSEINFRA

Industrials · Specialty Industrial Machinery · India
https://www.cumminsindia.com

Cummins India Limited engages in the design, manufacture, distribution, and service of engines, generator sets, and related technologies in India, Nepal, and Bhutan. The company operates through two segments, Engines and Lubes. It provides accelera, G-drive, fire pump drive, hydrogen, and natural gas engines; and generators and power systems, including integrated power systems, alternators, transfer switches, generator set controls, system level controls and switchgears, and browse generators. The company also offers engine components, such as fuel systems, turbochargers, and engine braking and valvetrain technologies; and aftertreatment emission solutions, as well as operates component care centers. In addition, it offers drivetrain and braking systems comprising axles, brakes, carriers, drivelines, gearboxes and power take-offs, gears, suspensions, tire inflation systems, transfer cases, trailer solutions, and transmissions; parts and sales and services; software and electronic products; and digital products. The company serves commercial buildings, data centers, realty, infrastructure, hospitality, defense, greenhouse, healthcare, manufacturing, marine, mining, oil and gas, rental power, RVs, small business, telecom, water treatment, automotive, power transmission, and distribution industries, as well as end users, original equipment manufacturers (OEMs), channel partners, dealers, and retailers. It exports to the United States, Europe, Mexico, Africa, the Middle East, and China. The company was incorporated in 1962 and is headquartered in Pune, India. Cummins India Limited is a subsidiary of Cummins Inc.

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₹5,881.00
+88.16% 1Y

Market & Price

Market Cap
₹1.63 L Cr
Current Price
₹5,881.00
High / Low (52W)
₹6,027.50 / ₹3,125.57
Beta
0.53

Valuation

Stock P/E
68.97
Industry PE
27.78
Forward P/E
50.68
PEG Ratio
-
Book Value
₹284.81
Price to Book
20.65
P/S
13.42
EV/EBITDA
51.13
Dividend Yield
1.12%

Profitability & Returns

ROCE
34.95%
ROE
29.45%
ROA
16.96%
Profit Margin
19.45%
Op Margin
24.44%
EPS (Latest Qtr)
₹23.43
EPS (TTM)
₹85.27

Balance Sheet & Liquidity

Debt/Equity
0.43
Quick Ratio
2.74
Current Ratio
3.32
Debt
₹36.51 Cr
Total Assets
₹11,304.21 Cr
Current Assets
₹8,110.18 Cr
Working Capital
₹5,670.48 Cr

Ownership

Promoter Holding
51.30%
Chg in Prom Hold
-
FII / Inst Holding
29.04%
Chg in FII Hold
-

Financial Snapshot

Enterprise Value
₹1.59 L Cr
Total Revenue (TTM)
₹12,143.19 Cr
EBITDA
₹3,112.25 Cr
Free Cash Flow
₹1,341.12 Cr
Operating Cash Flow
₹1,734.26 Cr
Shares Outstanding
₹27.72 Cr
Gross Margin
36.85%
Payout Ratio
62.79%

Growth (CAGR)

Revenue 5Y
16.07%
Profit 5Y
24.35%
Revenue (YoY)
21.90%
Earnings (YoY)
22.70%

PROS

  • Strong return on equity of 29.5%.
  • Healthy ROCE of 35.0%.
  • Compounding revenue at 16.1% over 5 years.
  • Profit CAGR of 24.4% over 5 years.
  • Generates positive free cash flow.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

  • Trading at a high P/E of 69.0.

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Industrials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 CUMMINSIND Cummins India Limited NSEINFRA 5,881.00 68.97 ₹1.63 L Cr 1.12% 34.95% 29.45% 16.07% 24.35%
2 LT Larsen & Toubro Limited NIFTY50NSEAIINFRA 4,076.50 34.84 ₹5.61 L Cr 0.93% 14.55% 16.95% 16.09% 15.38%
3 ADANIPORTS Adani Ports and Special Economic Zone Limited NIFTY50NSEINFRA 1,804.60 30.96 ₹4.16 L Cr 0.42% 11.02% 15.59% 22.93% 34.11%
4 HAL Hindustan Aeronautics Limited NSEAIDEFENCEINFRAPSU 4,303.80 31.55 ₹2.88 L Cr 1.16% 13.80% 23.98% 7.87% 16.08%
5 POWERINDIA Hitachi Energy India Limited NIFTY_MIDNSEINFRA 38,445.00 172.41 ₹1.71 L Cr 0.02% 24.92% 21.04% 22.24% 119.12%
6 INDIGO InterGlobe Aviation Limited NSEINFRA 4,405.00 - ₹1.70 L Cr 0.24% 15.53% - 44.12% 72.60%
7 CGPOWER CG Power and Industrial Solutions Limited NSEINFRA 917.45 118.99 ₹1.44 L Cr 0.14% 19.35% 19.56% 21.67% 7.81%
8 POLYCAB Polycab India Limited NIFTY_MIDNSEAIINFRA 9,477.50 53.48 ₹1.43 L Cr 0.37% 30.44% 24.58% 26.57% 28.11%
9 SIEMENS Siemens Limited NSEAIINFRA 3,844.00 81.30 ₹1.37 L Cr 0.39% 16.46% - 3.04% 10.90%
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Quarterly Results

Figures in INR.

Metric Sep 2024Dec 2024Mar 2025Jun 2025Dec 2025Mar 2026
Revenue 2,465.09 Cr3,052.15 Cr2,428.13 Cr2,858.71 Cr3,006.24 Cr2,963.20 Cr
Cost of Revenue 1,604.35 Cr2,017.04 Cr1,543.07 Cr1,831.63 Cr1,898.52 Cr1,926.03 Cr
Gross Profit 860.74 Cr1,035.11 Cr885.06 Cr1,027.08 Cr1,107.72 Cr1,037.17 Cr
Operating Expenses 421.76 Cr486.82 Cr406.32 Cr451.51 Cr523.61 Cr446.11 Cr
Operating Income 438.98 Cr548.29 Cr478.74 Cr575.57 Cr584.11 Cr591.06 Cr
EBITDA 641.38 Cr765.89 Cr742.09 Cr835.25 Cr680.66 Cr905.25 Cr
Interest Expense 2.58 Cr3.02 Cr5.29 Cr2.65 Cr4.78 Cr2.43 Cr
Pretax Income 593.84 Cr713.59 Cr690.31 Cr784.67 Cr625.52 Cr851.73 Cr
Tax Provision 144.47 Cr155.13 Cr160.81 Cr180.77 Cr139.46 Cr202.27 Cr
Net Income 449.37 Cr558.46 Cr529.50 Cr603.90 Cr486.06 Cr649.46 Cr
Diluted EPS 16.2120.1519.1021.7917.5323.43

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue -7,641.40 Cr8,859.99 Cr10,219.24 Cr11,949.73 Cr
Cost of Revenue -5,356.87 Cr5,930.67 Cr6,594.86 Cr7,668.51 Cr
Gross Profit -2,284.53 Cr2,929.32 Cr3,624.38 Cr4,281.22 Cr
Operating Expenses -1,177.49 Cr1,317.97 Cr1,729.41 Cr1,884.87 Cr
Operating Income -1,107.04 Cr1,611.35 Cr1,894.97 Cr2,396.35 Cr
EBITDA -1,749.57 Cr2,391.19 Cr2,793.73 Cr3,296.92 Cr
Interest Expense -16.24 Cr27.40 Cr15.85 Cr12.41 Cr
Pretax Income -1,591.29 Cr2,204.61 Cr2,592.81 Cr3,085.95 Cr
Tax Provision -363.14 Cr484.03 Cr592.87 Cr724.20 Cr
Net Income -1,228.15 Cr1,720.58 Cr1,999.94 Cr2,361.75 Cr
Diluted EPS -44.3162.0772.1585.20

Compounded Sales Growth

5 Years:16.07%
1 Year:21.90%

Compounded Profit Growth

5 Years:24.35%
1 Year:22.70%

Stock Price Performance

1 Year:+88.16%
6 Months:+37.42%
3 Months:+20.41%
1 Month:+11.21%

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets -7,918.64 Cr8,970.51 Cr10,168.49 Cr11,304.21 Cr
Current Assets -5,098.47 Cr5,942.20 Cr7,008.51 Cr8,110.18 Cr
Cash & Equivalents -396.69 Cr299.89 Cr234.99 Cr500.01 Cr
Inventory -903.66 Cr949.65 Cr1,004.07 Cr1,168.45 Cr
Receivables -1,597.12 Cr2,085.35 Cr2,277.75 Cr2,754.27 Cr
Total Liabilities -2,160.40 Cr2,358.19 Cr2,607.09 Cr2,829.05 Cr
Current Liabilities -1,890.35 Cr2,056.93 Cr2,258.47 Cr2,439.70 Cr
Long Term Debt -----
Total Debt -376.09 Cr126.98 Cr29.66 Cr36.51 Cr
Total Equity -5,758.24 Cr6,612.32 Cr7,561.40 Cr8,475.16 Cr
Shares Outstanding -27.72 Cr27.72 Cr27.72 Cr27.72 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow -819.66 Cr1,285.34 Cr1,682.59 Cr1,734.26 Cr
Investing Cash Flow -69.14 Cr-268.22 Cr-579.45 Cr14.99 Cr
Financing Cash Flow --687.34 Cr-1,134.25 Cr-1,167.96 Cr-1,495.05 Cr
Capital Expenditure --162.06 Cr-288.18 Cr-226.04 Cr-251.71 Cr
Free Cash Flow -657.60 Cr997.16 Cr1,456.55 Cr1,482.55 Cr
Net Change in Cash -201.46 Cr-117.13 Cr-64.82 Cr254.20 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % -29.9%33.1%35.5%35.8%
Operating Margin % -14.5%18.2%18.5%20.1%
Net Margin % -16.1%19.4%19.6%19.8%
ROE % -21.3%26.0%26.4%27.9%
ROCE % -18.4%23.3%24.0%27.0%

Shareholding Pattern

Insiders
51.30%
Institutions
29.04%
Public Float
59.63%

Analyst View

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