Cummins India Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- ✓Excellent return on equity (ROE 30.2%)
- ✓Efficient capital deployment (ROCE 39.5%)
- ✓Virtually debt-free
Concerns
- ✗High premium to book value (P/B 18.3x)
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| HAL Hindustan Aeronautics Limited | ₹4,568 | ₹3.0L Cr | 33 | 7.44 | 24 | 32 | 0 |
| BEL Bharat Electronics Limited | ₹407 | ₹3.0L Cr | 49.4 | 12.41 | 27.6 | 36.5 | 0 |
| ABB ABB India Limited | ₹7,530 | ₹1.6L Cr | 104 | 20.35 | 22.4 | 29.9 | 0.01 |
| TMCV Tata Motors Limited | ₹412 +0.59% | ₹1.5L Cr | 38.6 | 10.71 | 34 | 35.9 | 0.44 |
| BHEL Bharat Heavy Electricals Limited | ₹417 | ₹1.5L Cr | 60.4 | 5.55 | 6.23 | 9.14 | 0.45 |
| CGPOWER CG Power and Industrial Solutions Limited | ₹912 | ₹1.4L Cr | 118 | 18.02 | 20.5 | 26.7 | 0.02 |
| POLYCAB Polycab India Limited | ₹9,073 | ₹1.3L Cr | 46.6 | 11.37 | 23 | 33.2 | 0.02 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
CUMMINSIND · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% | 51.00% |
| FII | 16.51% | 17.36% | 17.95% | 17.50% | 18.09% | 17.21% |
| DII | 23.36% | 22.86% | 22.24% | 22.50% | 21.80% | 22.84% |
| Public | 8.93% | 8.63% | 8.66% | 8.89% | 9.00% | 8.85% |
| Govt | 0.20% | 0.14% | 0.14% | 0.11% | 0.10% | 0.10% |
Corporate Events
The 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.
Dividend - Rs 46 Per Share
To 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 Y
Interim Dividend - Rs 20 Per Share
Dividend - Rs 33.50 Per Share
Interim Dividend - Rs 18 Per Share
Annual General Meeting/Dividend - Rs 20 Per Share
Interim Dividend - Rs 18 Per Share
Annual General Meeting/Dividend - Rs 13 Per Share
Latest News
All news →Cummins India Q4 results to reflect capex momentum
*Cummins India Q4 results to reflect capex momentum* — Investors eye **₹2,100 crore** revenue and **12% YoY growth**, driven by robust domestic capex. Margin trends and order book clarity will influence outlook. Strong execution in infrastructure and power segments may boost sentiment. 📊 *STOCKS:* CUMMINSIND | 🏢 *SECTOR:* CapitalMarkets | #HIGHIMPACT #Earnings
Cummins India: General Updates on KYC details
*Cummins India: General Updates on KYC details.* The company filed a routine update regarding KYC formalities with the NSE. Such filings are part of regular compliance and do not impact operations or financials. No immediate market-moving implications are expected. 📊 *STOCKS:* CUMMINSIND | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #KYC
Cummins India declares final dividend for FY 2025-26
Cummins India has announced the record date for its final dividend for FY 2025-26. The dividend details and payment timeline will be disclosed in the official newspaper publication. *This is a routine dividend declaration with no immediate price catalyst.* 📊 *STOCKS:* CUMMINSIND | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #dividend
Motilal Oswal recommends buy on Cummins India with ₹6600 target
*Motilal Oswal recommends buy on Cummins India with a target of **₹6600**.* The brokerage cited strong order book and improving demand in industrial and construction sectors. Profitability is expected to improve due to cost optimization and stable raw material prices. Execution of large infrastructure projects remains a key growth driver. 📊 *STOCKS:* CUMMINSIND | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #Brokerage
Motilal Oswal turns bullish on Cummins India with new target price
*Motilal Oswal turns bullish on Cummins India with new target price* — The brokerage has expressed confidence in Cummins India’s growth trajectory, citing strong demand and operational improvements. It set a target price of **₹4,200**, implying significant upside from current levels. The positive outlook reflects improved order visibility and margin prospects. 📊 *STOCKS:* CUMMINSIND | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #brokerage
Cummins India hosts analyst and investor meet
Cummins India held an analyst and institutional investor meet to discuss business updates. The event provided insights into operational performance and strategic direction. No major announcements or financial revisions were disclosed. 📊 *STOCKS:* CUMMINSIND | 🏢 *SECTOR:* CapitalMarkets | #LOWIMPACT #AnalystMeet
Cummins India QoQ earnings solid but on weak foundations
*Cummins India's solid earnings may rest on weak foundations.* Recent financial performance shows **revenue growth of 8% YoY** and **net profit up 12%**, driven by volume recovery. However, margin pressure from rising input costs and competitive pricing looms. Sustainability of earnings remains a concern amid cyclical demand. 📊 *STOCKS:* CUMMINSIND | 🏢 *SECTOR:* Auto | #MEDIUMIMPACT #Earnings
Cummins India QoQ earnings growth may be unsustainable
*Cummins India Qoq earnings growth may be unsustainable.* Recent financial performance shows strong numbers, but underlying trends suggest potential weakness in future sustainability. Margins and volume growth face pressure from rising input costs and softening demand. Investors should assess long-term fundamentals before positioning. 📊 *STOCKS:* CUMMINSIND | 🏢 *SECTOR:* Auto | #MEDIUMIMPACT #Earnings
Cummins India benefits from capex and digital growth
*Cummins India benefits from capex and digital growth.* The company is witnessing strong demand driven by domestic capital expenditure and expansion in digital infrastructure. Revenue growth supported by robust after-market parts and service volume. Operating margins improved due to better product mix and cost control. 📊 *STOCKS:* CUMMINSIND | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #capex
Citi sees 14% upside for Cummins India on data centre demand
*Citi sees 14% upside for Cummins India on data centre demand* driven by rising power solutions needs. The brokerage highlights strong tailwinds from expanding data centres boosting generator demand. **14%** upside projected with stable margins and robust order inflows. 📊 *STOCKS:* CUMMINSIND | 🏢 *SECTOR:* CapitalMarkets | #MEDIUMIMPACT #CumminsIndia
Financials
Quarterly Results
| Metric | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹3.1K Cr ▼3.6% | ₹3.2K Cr ▲9.0% | ₹2.9K Cr ▲17.7% | ₹2.5K Cr ▼20.2% | ₹3.1K Cr ▲23.4% | ₹2.5K Cr ▲8.3% | ₹2.3K Cr ▼0.1% | ₹2.3K Cr |
| Op. Profit | ₹634 Cr ▼8.8% | ₹695 Cr ▲11.4% | ₹624 Cr ▲18.9% | ₹525 Cr ▼12.2% | ₹598 Cr ▲23.6% | ₹484 Cr ▲2.3% | ₹473 Cr ▼12.2% | ₹539 Cr |
| OPM | 21.0% ▼4.5% | 22.0% ▲4.8% | 21.0% ▲0.0% | 21.0% ▲10.5% | 19.0% ▲0.0% | 19.0% ▼5.0% | 20.0% ▼13.0% | 23.0% |
| Net Profit | ₹486 Cr ▼21.9% | ₹622 Cr ▲3.0% | ₹604 Cr ▲14.0% | ₹530 Cr ▼5.0% | ₹558 Cr ▲24.3% | ₹449 Cr ▼3.0% | ₹463 Cr ▼14.1% | ₹539 Cr |
| EPS (₹) | 17.53 ▼21.9% | 22.45 ▲3.0% | 21.79 ▲14.1% | 19.1 ▼5.2% | 20.15 ▲24.3% | 16.21 ▼2.9% | 16.69 ▼14.1% | 19.44 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹12.1K Cr ▲16.9% | ₹10.4K Cr ▲15.5% | ₹9.0K Cr ▲15.8% | ₹7.8K Cr ▲25.9% | ₹6.2K Cr ▲41.5% | ₹4.4K Cr ▼16.0% | ₹5.2K Cr ▼8.9% | ₹5.7K Cr ▲11.4% | ₹5.1K Cr ▲0.1% | ₹5.1K Cr |
| Expenses | ₹9.5K Cr ▲14.9% | ₹8.3K Cr ▲14.9% | ₹7.2K Cr ▲10.8% | ₹6.5K Cr ▲23.4% | ₹5.3K Cr ▲40.8% | ₹3.8K Cr ▼18.3% | ₹4.6K Cr ▼4.8% | ₹4.8K Cr ▲10.4% | ₹4.4K Cr ▲1.7% | ₹4.3K Cr |
| Op. Profit | ₹2.6K Cr ▲24.8% | ₹2.1K Cr ▲17.5% | ₹1.8K Cr ▲41.8% | ₹1.2K Cr ▲41.3% | ₹883 Cr ▲46.4% | ₹603 Cr ▲1.7% | ₹593 Cr ▼31.8% | ₹869 Cr ▲17.8% | ₹738 Cr ▼8.3% | ₹805 Cr |
| OPM | 21.0% ▲5.0% | 20.0% ▲0.0% | 20.0% ▲25.0% | 16.0% ▲14.3% | 14.0% ▲0.0% | 14.0% ▲27.3% | 11.0% ▼26.7% | 15.0% ▲7.1% | 14.0% ▼12.5% | 16.0% |
| Other Income | ₹702 Cr ▼1.7% | ₹714 Cr ▲14.8% | ₹622 Cr ▲23.9% | ₹502 Cr ▲6.4% | ₹472 Cr ▲29.0% | ₹366 Cr ▲2.8% | ₹356 Cr ▲8.5% | ₹328 Cr ▲10.1% | ₹298 Cr ▲111.3% | ₹141 Cr |
| Interest | ₹12 Cr ▼25.0% | ₹16 Cr ▼40.7% | ₹27 Cr ▲68.8% | ₹16 Cr ▲33.3% | ₹12 Cr ▼29.4% | ₹17 Cr ▼19.0% | ₹21 Cr ▲23.5% | ₹17 Cr ▲13.3% | ₹15 Cr ▼11.8% | ₹17 Cr |
| Depreciation | ₹199 Cr ▲7.6% | ₹185 Cr ▲16.4% | ₹159 Cr ▲12.0% | ₹142 Cr ▲4.4% | ₹136 Cr ▲7.1% | ₹127 Cr ▲5.0% | ₹121 Cr ▲9.0% | ₹111 Cr ▲18.1% | ₹94 Cr ▲10.6% | ₹85 Cr |
| PBT | ₹3.1K Cr ▲19.0% | ₹2.6K Cr ▲17.6% | ₹2.2K Cr ▲38.6% | ₹1.6K Cr ▲31.8% | ₹1.2K Cr ▲46.3% | ₹825 Cr ▲2.2% | ₹807 Cr ▼24.5% | ₹1.1K Cr ▲15.3% | ₹927 Cr ▲10.0% | ₹843 Cr |
| Tax % | 23.0% ▲0.0% | 23.0% ▲4.5% | 22.0% ▼4.3% | 23.0% ▲0.0% | 23.0% ▲0.0% | 23.0% ▲76.9% | 13.0% ▼58.1% | 31.0% ▲34.8% | 23.0% ▲4.5% | 22.0% |
| Net Profit | ₹2.4K Cr ▲18.1% | ₹2.0K Cr ▲16.2% | ₹1.7K Cr ▲40.1% | ₹1.2K Cr ▲31.5% | ₹934 Cr ▲47.1% | ₹635 Cr ▼10.1% | ₹706 Cr ▼5.0% | ₹743 Cr ▲4.4% | ₹712 Cr ▼3.3% | ₹736 Cr |
| EPS (₹) | 85.2 ▲18.1% | 72.15 ▲16.2% | 62.07 ▲40.1% | 44.31 ▲31.6% | 33.68 ▲47.0% | 22.91 ▼10.0% | 25.45 ▼5.0% | 26.79 ▲4.3% | 25.68 ▼3.3% | 26.56 |
| Div Payout | 77.0% ▲8.5% | 71.0% ▲16.4% | 61.0% ▲8.9% | 56.0% ▲1.8% | 55.0% ▼15.4% | 65.0% ▲18.2% | 55.0% ▼12.7% | 63.0% ▲8.6% | 58.0% ▲9.4% | 53.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Sep 2025 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Liabilities | ||||||||||
| Equity Capital | ₹55 Cr ▲0.0% | ₹55 Cr ▲0.0% | ₹55 Cr ▲0.0% | ₹55 Cr ▲0.0% | ₹55 Cr ▲0.0% | ₹55 Cr ▲0.0% | ₹55 Cr ▲0.0% | ₹55 Cr ▲0.0% | ₹55 Cr ▲0.0% | ₹55 Cr |
| Reserves | ₹7.8K Cr ▲4.4% | ₹7.5K Cr ▲14.5% | ₹6.6K Cr ▲15.0% | ₹5.7K Cr ▲12.0% | ₹5.1K Cr ▲10.7% | ₹4.6K Cr ▲5.7% | ₹4.3K Cr ▲2.8% | ₹4.2K Cr ▲4.1% | ₹4.1K Cr ▲6.5% | ₹3.8K Cr |
| Borrowings | ₹24 Cr ▼20.0% | ₹30 Cr ▼76.4% | ₹127 Cr ▼66.2% | ₹376 Cr ▼10.0% | ₹418 Cr ▲945.0% | ₹40 Cr ▼92.2% | ₹512 Cr ▲63.6% | ₹313 Cr ▲21.8% | ₹257 Cr ▲2.0% | ₹252 Cr |
| Other Liabilities | ₹2.6K Cr ▲1.7% | ₹2.6K Cr ▲15.5% | ₹2.2K Cr ▲25.1% | ₹1.8K Cr ▲15.2% | ₹1.5K Cr ▲22.5% | ₹1.3K Cr ▼1.3% | ₹1.3K Cr ▼12.5% | ₹1.5K Cr ▲9.4% | ₹1.3K Cr ▲22.7% | ₹1.1K Cr |
| Total Liabilities | ₹10.5K Cr ▲3.7% | ₹10.2K Cr ▲13.3% | ₹9.0K Cr ▲13.3% | ₹7.9K Cr ▲11.3% | ₹7.1K Cr ▲19.4% | ₹6.0K Cr ▼3.9% | ₹6.2K Cr ▲2.2% | ₹6.1K Cr ▲6.0% | ₹5.7K Cr ▲9.6% | ₹5.2K Cr |
| Assets | ||||||||||
| Fixed Assets | ₹2.4K Cr ▲0.1% | ₹2.4K Cr ▲2.7% | ₹2.3K Cr ▲3.4% | ₹2.2K Cr ▲0.8% | ₹2.2K Cr ▲0.9% | ₹2.2K Cr ▼3.6% | ₹2.3K Cr ▲12.7% | ₹2.0K Cr ▼0.3% | ₹2.0K Cr ▲34.6% | ₹1.5K Cr |
| CWIP | ₹72 Cr ▼15.3% | ₹85 Cr ▼12.4% | ₹97 Cr ▲136.6% | ₹41 Cr ▼32.8% | ₹61 Cr ▼52.3% | ₹128 Cr ▲60.0% | ₹80 Cr ▼49.7% | ₹159 Cr ▲307.7% | ₹39 Cr ▼91.6% | ₹463 Cr |
| Investments | ₹2.2K Cr ▲47.5% | ₹1.5K Cr ▼9.7% | ₹1.6K Cr ▲12.7% | ₹1.5K Cr ▲63.3% | ₹892 Cr ▲48.9% | ₹599 Cr ▼42.3% | ₹1.0K Cr ▲121.8% | ₹468 Cr ▼33.9% | ₹708 Cr ▼17.9% | ₹862 Cr |
| Other Assets | ₹5.9K Cr ▼5.2% | ₹6.2K Cr ▲26.5% | ₹4.9K Cr ▲17.5% | ₹4.2K Cr ▲6.2% | ₹4.0K Cr ▲29.9% | ₹3.0K Cr ▲8.3% | ₹2.8K Cr ▼17.8% | ₹3.4K Cr ▲16.0% | ₹2.9K Cr ▲23.5% | ₹2.4K Cr |
| Total Assets | ₹10.5K Cr ▲3.7% | ₹10.2K Cr ▲13.3% | ₹9.0K Cr ▲13.3% | ₹7.9K Cr ▲11.3% | ₹7.1K Cr ▲19.4% | ₹6.0K Cr ▼3.9% | ₹6.2K Cr ▲2.2% | ₹6.1K Cr ▲6.0% | ₹5.7K Cr ▲9.6% | ₹5.2K Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating CF | ₹1.7K Cr ▲31.0% | ₹1.3K Cr ▲56.7% | ₹820 Cr ▲15.2% | ₹712 Cr ▼9.8% | ₹789 Cr ▲31.3% | ₹601 Cr ▲8.7% | ₹553 Cr ▼12.5% | ₹632 Cr ▼15.5% | ₹748 Cr ▲7.5% | ₹696 Cr |
| Investing CF | ₹-578 Cr ▼133.1% | ₹-248 Cr ▼385.1% | ₹87 Cr ▲115.2% | ₹-574 Cr ▼2396.0% | ₹25 Cr ▲112.4% | ₹-202 Cr ▼1446.7% | ₹15 Cr ▲111.2% | ₹-134 Cr ▲72.3% | ₹-483 Cr ▼124.7% | ₹-215 Cr |
| Financing CF | ₹-1.2K Cr ▼3.0% | ₹-1.1K Cr ▼65.1% | ₹-687 Cr ▼737.8% | ₹-82 Cr ▲90.6% | ₹-873 Cr ▼111.9% | ₹-412 Cr ▲21.5% | ₹-525 Cr ▼11.7% | ₹-470 Cr ▼108.0% | ₹-226 Cr ▲52.0% | ₹-471 Cr |
| Net Cash Flow | ₹-63 Cr ▲35.1% | ₹-97 Cr ▼144.3% | ₹219 Cr ▲291.1% | ₹56 Cr ▲193.3% | ₹-60 Cr ▼328.6% | ₹-14 Cr ▼132.6% | ₹43 Cr ▲53.6% | ₹28 Cr ▼28.2% | ₹39 Cr ▲290.0% | ₹10 Cr |
| Free Cash Flow | ₹1.5K Cr ▲46.1% | ₹1.0K Cr ▲50.8% | ₹665 Cr ▼15.0% | ₹782 Cr ▲15.9% | ₹675 Cr ▲85.4% | ₹364 Cr ▲30.5% | ₹279 Cr ▼48.3% | ₹540 Cr ▲4.7% | ₹516 Cr ▲151.7% | ₹205 Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 80d ▼5.9% | 85d ▲13.3% | 75d ▲1.4% | 74d ▼18.7% | 91d ▲12.3% | 81d ▼1.2% | 82d ▼14.6% | 96d ▲39.1% | 69d ▼5.5% | 73d |
| Inventory Days | 56d ▼6.7% | 60d ▼4.8% | 63d ▼4.5% | 66d ▼12.0% | 75d ▲21.0% | 62d ▼3.1% | 64d ▲4.9% | 61d ▼3.2% | 63d ▼16.0% | 75d |
| Days Payable | 87d ▼2.2% | 89d ▲9.9% | 81d ▼9.0% | 89d ▼8.2% | 97d ▲29.3% | 75d ▼9.6% | 83d ▼2.4% | 85d ▲25.0% | 68d ▼1.4% | 69d |
| Cash Conv. Cycle | 49d ▼12.5% | 56d ▼3.4% | 58d ▲13.7% | 51d ▼26.1% | 69d ▲1.5% | 68d ▲7.9% | 63d ▼11.3% | 71d ▲9.2% | 65d ▼17.7% | 79d |
| Working Capital Days | 46d ▼4.2% | 48d ▲33.3% | 36d ▼7.7% | 39d ▼45.8% | 72d ▲80.0% | 40d ▼32.2% | 59d ▲3.5% | 57d ▲16.3% | 49d ▼37.2% | 78d |
| ROCE | 36.0% ▲2.9% | 35.0% ▲29.6% | 27.0% ▲28.6% | 21.0% ▲23.5% | 17.0% ▼5.6% | 18.0% ▼25.0% | 24.0% ▲14.3% | 21.0% ▼4.5% | 22.0% ▼8.3% | 24.0% |
Source: Screener.in · Lower days = better efficiency
Deep Dive Analysis
About Cummins India Limited
Cummins India Ltd is a part of the Cummins Inc. Group USA. It designs, manufactures, distributes and services diesel and alternative fuel engines from 2.8 to 100 liters, diesel and alternative-fueled power generator sets of up to 3000 kW (3750 kVA), as well as related components and technology.[1]
Capital Goods · Industrial Products