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India
As of 18 Sept 2026, 03:30 pm
Between March 2019 and March 2020, Cummins India's balance sheet showed several changes. Total Assets increased from ₹6,060 crore to ₹6,196 crore. Within assets, Fixed Assets grew from ₹2,015 crore to ₹2,270 crore, and Investments significantly increased from ₹468 crore to ₹1,038 crore, while Other Assets decreased from ₹3,418 crore to ₹2,809 crore. On the liabilities side, Borrowings rose from ₹313 crore to ₹512 crore, and Equity Capital remained stable at ₹55 crore, with Reserves increasing from ₹4,228 crore to ₹4,347 crore. Total Liabilities mirrored Total Assets, increasing from ₹6,060 crore to ₹6,196 crore.
Cummins India has shown an increase in its cash flow generation. Cash from Operating Activity rose from ₹553 crore in March 2019 to ₹601 crore in March 2020. Similarly, Free Cash Flow increased from ₹279 crore in March 2019 to ₹364 crore in March 2020. The Cash from Financing Activity was negative in both periods, decreasing from -₹525 crore in March 2019 to -₹412 crore in March 2020, indicating debt repayment or dividend payouts.
Recent announcements include Cummins India's decision to withhold the final dividend for FY 2025-26 for shareholders with non-compliant KYC or incomplete bank details, with communications sent on September 17, 2026. The company also published newspaper advertisements on September 16, 2026, regarding a Postal Ballot and e-voting for resolutions, with voting open from October 15, 2026. A press release on September 15, 2026, announced the unveiling of next-generation power solutions and aftermarket solutions at bauma CONEXPO India 2026. Additionally, the company is seeking shareholder approval via postal ballot for paying commission to its Non-executive Independent Directors for five financial years starting April 1, 2026.
As of September 18, 2026, the daily trend for Cummins India shows a 'bearish' Supertrend at ₹5,294.98, with the closing price at ₹5,099.5. Technical indicators like ADX (27.41), minus DI (24.39), and plus DI (20.14) suggest some trend strength but also mixed directional signals. In contrast, the monthly trend indicates a 'bullish' Supertrend at ₹4,038.38, with a higher ADX (54.21) and a stronger plus DI (28.23) compared to minus DI (13.53), suggesting a more established upward trend on a longer timeframe.
As of 18 Sept 2026, 03:30 pm
Recent drawdown or price variability is high enough to warrant closer monitoring.
Primary driver: Price remains materially below a previous peak
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Revenue From Operations | PEAK₹3,426.01 crore | ₹3,011.18 crore | ₹3,054.92 crore | ₹3,170.27 crore | ₹2,906.82 crore |
| Finance Costs | ₹3.90 crore | ₹2.43 crore | PEAK₹4.78 crore | ₹2.55 crore | ₹2.65 crore |
| Other Expenses | ₹297.68 crore | ₹246.65 crore | PEAK₹321.63 crore | ₹264.55 crore | ₹252.26 crore |
| Profit Before Exceptional Items And Tax | ₹697.01 crore | ₹733.34 crore | ₹695.31 crore | PEAK₹765.83 crore | ₹706.80 crore |
| Profit Before Tax | ₹697.01 crore | ₹765.68 crore | ₹568.77 crore | PEAK₹765.83 crore | ₹719.39 crore |
| Tax Expense | ₹177.54 crore | PEAK₹202.27 crore | ₹139.46 crore | ₹201.70 crore | ₹180.77 crore |
Exchange disclosures and regulatory announcements for Cummins India.
Cummins India Limited withheld the final dividend of Rs. 46 per equity share for FY 2025-26, declared at the Annual General Meeting on August 6, 2026, for shareholders whose folios are KYC non-compliant or have incorrect/incomplete bank account details. The company sent individual communications to affected shareholders on September 17, 2026, informing them that the dividend will be released only after successful KYC and bank account details are updated with the Registrar and Share Transfer Agent or Depository Participants.
Cummins India Limited published newspaper advertisements on September 16, 2026, regarding its Notice of Postal Ballot and e-voting information for resolutions to be voted on between October 15, 2026, at 9:00 a.m. and October 15, 2026, at 5:00 p.m. The company's Board of Directors is scheduled to meet on October 22-23, 2026, to approve audited financial results for the quarter and half-year ended September 30, 2026, and consider an interim dividend declaration. Additionally, Mahindra Manulife Mutual Fund declared Income Distribution cum Capital Withdrawal (IDCW) of Rs. 0.10 per unit for its Dynamic Term Fund and Rs. 0.25 per unit for its Equity Savings Fund, with record dates set for September 18 and September 14, 2026, respectively.
Cummins India Limited has informed the Exchange regarding a press release dated September 15, 2026, titled "Cummins India Unveils Next-Generation Power Solutions and Showcases Smart Aftermarket Solutions at bauma CONEXPO India 2026". |SUBJECT: Press Release
Cummins India Limited seeks shareholder approval via postal ballot (remote e-voting from September 16 to October 15, 2026) to pay commission to its Non-executive Independent Directors, not exceeding one percent per annum of net profits, for five financial years starting April 1, 2026 to March 31, 2031. The cut-off date for eligibility is September 11, 2026. The resolution is an ordinary resolution, and the board recommends approval.
Cummins India Limited will hold a postal ballot on September 16, 2026, to seek shareholder approval for an ordinary resolution regarding the payment of commission to its non-executive independent directors. The voting period for this single agenda item commenced on September 15, 2026, and concludes on October 15, 2026.
Cummins India Limited announced on September 9, 2026, that it will showcase integrated power solutions at bauma CONEXPO India 2026, scheduled to take place from September 15–18 at the India Expo Centre & Mart in Greater Noida. The company plans to display its portfolio spanning power generation, distribution, energy storage, and aftermarket services at Hall 14, Booth B-41 to address infrastructure needs in construction, mining, and industrial sectors. Jameson Mendonca, Power Generation Business Leader, emphasized the company's commitment to providing localized, connected, and emission-ready solutions to support India's development.
Cummins India Limited is proposing to seek member consent through a postal ballot via remote e-voting only, with the Postal Ballot Notice to be sent electronically to members with registered email addresses. The notice will also be available on the company's website and stock exchange websites. The company has appointed MUFG Intime India Private Limited to facilitate e-voting using the Insta-Vote platform.
On September 02, 2026, the Board of Directors of Cummins India Limited approved the appointment of Ms. Avanthi Rao as Vice President – Distribution Business and a Senior Management Personnel, effective October 01, 2026. The decision followed recommendations from the Nomination and Remuneration Committee and confirms that Ms. Rao has no familial relationship with any company director. Ms. Rao brings over a decade of experience within the Cummins Group, having joined in 2010 after previously working at Denso India Pvt. Ltd.
Recent market and company developments associated with Cummins India.
By end-2030, Hyderabad and other emerging hubs are expected to see a six-fold rise in data centre capacity to 1.1 gigawatts (GW), implying an annualized growth of 58%.
With data centres operating continuously, generator sets have become imperative to keep their IT infrastructure, cooling systems and lighting running in the event of an outage.
Cummins India To Showcase Integrated Power Solutions For India’s Evolving Infrastructure Needs At bauma CONEXPO India 2026
Stocks to buy: Kotak Securities' Amol Athawale identifies three stocks—Swiggy, Cummins India, and Jindal Steel—that traders should consider in the short term. With specific targets and strategic stop-loss levels, these tips could help navigate the volatility.
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Mahindra Group announced Shveta Arya's appointment as Group Chief Strategy Officer. She will lead the Group Strategy Office, identifying growth opportunities. Arya joins from Cummins India, bringing over twenty-three years of experience. She will report to Mahindra Group CEO and Managing Director Anish Shah. Her role involves driving long-term strategic advantage across the company's businesses.
Mahindra Group has appointed Shveta Arya as Group Chief Strategy Officer, effective September 15. Arya, who was Managing Director of Cummins India, will join Mahindra’s senior management and Group Executive Board.
Mahindra Group has appointed Shveta Arya as the new Group Chief Strategy Officer, effective September 15, 2026. Arya brings over 23 years of experience from leading multinational organizations and will focus on growth opportunities and strategic development across Mahindra's diverse business portfolio.
Comprehensive Section Breakdown for Cummins India
Strategic Vision: Manufactures diesel and natural gas engines for various markets.
• Extensive product portfolio including engines, generators, alternators, and silencers.
• Comprehensive service offerings such as repair, repowering, replacement, maintenance, and aftersales support.
• Global market reach serving customers across multiple continents.
Cummins India Limited reported its highest quarterly revenue in the recent reporting period for the quarter ended June 30, 2026 (FY2026-27 Q1), growing nearly 18% compared to the same quarter last year. However, this top-line increase did not result in higher earnings. Profit before tax fell slightly year-over-year and dropped notably from the previous quarter, while net profit remained virtually unchanged. The gap between revenue growth and profit stagnation reflects faster-rising operating costs and input expenses that absorbed the additional sales.
Revenue from operations reached ₹3,426.01 crore, up 17.86% from ₹2,906.82 crore in the corresponding quarter last year and 13.78% from ₹3,011.18 crore in the prior quarter. This marks the highest revenue level recorded across the reporting periods. Segment revenue followed a parallel trajectory, rising 18.06% year-over-year to ₹3,374.93 crore and increasing 13.89% sequentially. The alignment between total revenue and segment revenue confirms that the growth originated from core business activities rather than peripheral sources.
Despite the revenue surge, profit before tax declined 3.11% year-over-year to ₹697.01 crore from ₹719.39 crore, and fell 8.97% sequentially from ₹765.68 crore. Net profit for the period came in at ₹609.30 crore, essentially flat compared to ₹603.90 crore a year earlier, though it decreased 6.18% from the previous quarter.
The divergence between top-line growth and flat earnings is driven by margin compression. Profit before tax as a percentage of revenue dropped from 24.75% to 20.34%. Similarly, the segment-level profit margin contracted from 27.45% to 23.31%. These declines indicate that the costs required to generate the additional revenue increased at a faster pace than the revenue itself.
While specific expense categories are limited in the reported data, the available line items show clear upward pressure. Other operating expenses rose 18.01% year-over-year to ₹297.68 crore and accelerated to a 20.69% sequential increase. Finance costs, though relatively small, climbed 47.17% year-over-year to ₹3.90 crore. Material consumption costs stood at ₹2,094.41 crore, and employee benefits accounted for ₹233.12 crore during the quarter. The combined expansion of these expense lines outpaced the 17.86% revenue growth, directly contributing to the observed margin contraction.
Segment-level profitability mirrored the overall company trend. Segment profit before tax edged up just 0.28% year-over-year to ₹786.84 crore from ₹784.67 crore, despite the 18% jump in segment revenue. This underscores that the core operating units experienced the same revenue-cost imbalance as the consolidated entity.
Other income contributed ₹137.34 crore, representing roughly 19.7% of the total pre-tax profit. Its size provided a meaningful buffer that helped keep net profit stable year-over-year despite the decline in operating profitability.
Management reported a steady start to the fiscal year with total sales up 18% YoY, driven by robust domestic demand (up 22% YoY). Exports remained flat but resilient despite geopolitical headwinds. However, higher commodity costs and inflation pressured margins, with PBT margin at 21.4% slightly lower YoY. The company expects business momentum to remain steady but cautions that inflationary pressures and supply chain constraints will likely persist. Management will focus on disciplined execution, cost management, and operational efficiencies. Separately, Managing Director Shveta Arya resigned effective August 31, 2026; the board is evaluating candidates for the role.
Cummins India achieved its strongest quarterly revenue in the recent reporting period, yet earnings failed to expand proportionally. Faster-growing operating costs and input expenses compressed profit margins, leaving pre-tax profit down and net profit flat compared to the prior year. A notable contribution from other income partially cushioned the operating decline, but the quarter ultimately highlights a business where top-line momentum is being offset by rising cost pressures.
Category: Manufacturing
This unit is responsible for manufacturing engines tailored for both on-highway commercial vehicle markets and the off-highway commercial equipment industry.
Category: Manufacturing
This unit specializes in the design and manufacturing of engines for a diverse array of sectors, including marine, railways, defense, and mining. Additionally, it develops integrated generator sets marketed under the Cummins Power Generation brand.
Key Products & Services: Cummins Power Generation
Category: Supply Chain
This unit focuses on the distribution network for the company's extensive range of products and associated services.
Core Thesis: The business units reinforce each other through manufacturing capabilities and a robust distribution network for products and services.
• Engine Manufacturing: The Engine Business manufactures engines for on-highway commercial vehicles and off-highway commercial equipment. • Power Systems Solutions: The Power Systems Business designs and manufactures engines for sectors like marine, railways, defense, and mining, alongside integrated generator sets. • Distribution Network: The Distribution Business manages the network for the company's products and associated services.