Manufactures and sells diesel engines and generator sets, alongside a lubricants line. In FY26, the Engines segment generated Rs 11,949.73 crore of segment revenue (79.9% of segment revenue) and the Lubes segment Rs 3,009.10 crore (20.1%). Engines drove the bulk of segment profitability, with EBIT of Rs 2,973.34 crore against Rs 112.61 crore for Lubes. FY26 total revenue was Rs 12,143.19 crore and net profit Rs 2,361.75 crore. Materials are the largest cost at 57.4% of revenue, followed by employee costs at 6.5% and other operating expenses at 8.9%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Engines (80%), Lubes (20%). Capital-goods manufacturer of diesel engines, generator sets and lubricants
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 6,171 | 7,772 | 9,000 | 10,391 | 12,143 |
| EBITDA (ex other income) | 888 | 1,233 | 1,768 | 2,080 | 2,513 |
| margin % | 14.4 | 15.9 | 19.6 | 20.0 | 20.7 |
| Owners' profit | 934 | 1,228 | 1,721 | 2,000 | 2,362 |
| EPS, as reported (₹) | 33.69 | 44.31 | 62.07 | 72.15 | 85.20 |
| ROE % · ROCE % | 15.6 · 18.5 | 21.3 · 23.2 | 26.0 · 28.7 | 26.4 · 29.5 | 27.9 · 31.9 |
| Debt / equity (x) | 0.08 | 0.06 | 0.02 | 0.00 | 0.00 |
| Cash from operations | 712 | 820 | 1,285 | 1,685 | 1,734 |
| Capex | (152) | (162) | (286) | (238) | (252) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,509 | 3,096 | 2,470 | 2,907 | 3,170 | 3,055 | 3,011 | 3,426 |
| Profit before tax | 542 | 657 | 600 | 719 | 766 | 569 | 766 | 697 |
| Net profit | 449 | 558 | 530 | 604 | 622 | 486 | 649 | 609 |
| EPS (₹) | 16.21 | 20.15 | 19.10 | 21.79 | 22.45 | 17.53 | 23.43 | 21.98 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Engines | 11,950 | 79.9 |
| Lubes | 3,009 | 20.1 |
| Total, before eliminations | 14,959 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CUMMINS INDIA LTD ◆ | 1,40,540 | 59.4 | 16.58 | 46.2 | 27.9 | 31.8 | 22.7 | 22.0 |
| KIRLOSKAR OIL ENG LTD | 31,552 | 57.8 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · Cummins India to showcase power solutions at bauma CONEXPO India 2026 | compliance | minimal | — | — |
| 3 Sept 2026 · Cummins India announces Postal Ballot via e-voting | compliance | minimal | — | — |
| 2 Sept 2026 · Appointment of Ms. Avanthi Rao as VP - Distribution Business | management changes | medium | — | — |
| 20 Aug 2026 · VP Distribution Business Pankaj Kapoor resigns, last day Sep 21, 2026 | management changes | medium | — | — |
| 18 Aug 2026 · Cummins India schedules analyst and investor meetings on Aug 24 and 27 | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Cummins India schedules 3 analyst meetings in Aug-Sept 2026 | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Newspaper notice on special window for old physical shares | compliance | minimal | — | — |
| 11 Aug 2026 · Q1 FY27 call: revenue up 18%, margins under commodity pressure | investor communications | medium | — | — |
| 7 Aug 2026 · Cummins India AGM 2026: All 10 resolutions passed, final dividend of Rs 46 approved | board shareholder meetings | low | — | — |
| 7 Aug 2026 · Cummins India: All 10 resolutions passed at 65th AGM; Rs 66 total dividend approved | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 8.83 |
| 24.8 |
| 15.7 |
| 10.9 |
| 18.5 |
| 15.8 |
| ELGI EQUIPMENTS LTD | 19,591 | 43.5 | 8.78 | 29.1 | 19.3 | 24.3 | 15.5 | 15.9 |
| INGERSOLL-RAND INDIA LTD | 14,428 | 53.9 | 23.43 | — | 41.6 | 54.7 | — | 26.4 |
| KIRLOSKAR BROTHERS LTD | 14,231 | 38.1 | 5.75 | 24.1 | 15.2 | 16.8 | 10.8 | 11.8 |
| KSB LIMITED | 13,955 | 56.9 | 8.22 | — | 5.7 | 6.7 | — | 12.6 |
| SHAKTI PUMPS (I) LTD | 6,085 | 28.6 | 3.57 | 13.7 | 15.1 | 19.6 | 23.7 | 10.9 |
| KIRLOSKAR PNEUMATIC COM L | 4,674 | 17.8 | 3.71 | 12.3 | 20.2 | 26.4 | — | 17.7 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 59.4 | 44.6 | 14 of 15 | 7% |
| P/B | 16.6 | 5.2 | 14 of 15 | 7% |
| ROCE | 31.8 | 16.9 | 3 of 15 | 86% |
| ROE | 27.9 | 15.2 | 3 of 15 | 86% |
| Debt / Equity | 0.0 | 0.1 | 1 of 15 | 79% |
| EBITDA margin | 22.0 | 15.8 | 4 of 15 | 79% |
| Revenue growth | 17.9 | 17.9 | 8 of 15 | 50% |
| Profit growth | 0.9 | 11.1 | 9 of 15 | 43% |
| Market cap | 140540 | 4674 | 1 of 15 | 100% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
