# Cummins India (CUMMINSIND) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/cumminsind

## Current market snapshot

- Exchange: NSE
- Country: India
- Price: ₹4,048.8
- Change: -0.25%
- As of: 2026-11-06
- 1D return: -0.25%
- 5D return: -9.07%
- 1M return: -14.60%
- Latest complete quarter: fy27_q2

## Faxioms Analysis

_As of 2026-11-06_

### Technical Outlook

CUMMINSIND (₹4,048.80) exhibits a sharp near-term bearish structure against a longer-term bullish backdrop. On the daily chart, price has broken below all key moving averages and the Supertrend, with an established downtrend (ADX 32.76). This is corroborated by extreme volume anomalies on 5 November (-14.1% return, volume ratio 13.01) and 6 November (high participation, volume ratio 4.55), signaling intense selling pressure. The stock sits near the lower end of its 20-day (+14.6%) and 252-day (+7.5%) ranges, with a maximum drawdown of -32.8%. Conversely, the monthly trend remains bullish (Supertrend up, ADX 47.31), suggesting the current decline may be a correction within a broader uptrend. Immediate resistance lies at ₹4,101.50 (1.3% above) and ₹4,124.53 (1.87% above), while support is observed at ₹3,965.57 (-2.06% below). A daily close back above the Supertrend would weaken the immediate bearish setup, whereas a break below ₹3,965 could extend downside toward ₹3,872.

- Daily trend is bearish: Price is below all major MAs and Supertrend; ADX 32.76 confirms established downward momentum.
- High participation in recent declines: 5 Nov saw -14.1% drop with 13x normal volume; 6 Nov showed extreme weekly range expansion.
- Monthly context remains bullish: Supertrend is up and ADX is strong (47.31), indicating the long-term trend has not yet reversed.
- Key levels to monitor: Resistance at ₹4,101.50 and ₹4,124.53; Support at ₹3,965.57 and ₹3,872.23.

- Hammer
- Inside Bar
- Bullish Engulfing Reversal

### News Context

Cummins India reported Q2 FY27 results on November 5, 2026, revealing a divergence between revenue growth and profitability. Total sales increased 4% year-on-year to ₹3,247 crore, supported by healthy demand in data centers and manufacturing sectors, with both domestic and export revenues rising. However, profit after tax declined significantly, with reports citing a 19–27% drop depending on the metric, settling at figures of ₹467 crore or ₹507 crore. This contraction was driven by a sharp 680 basis point hit to EBITDA margins, attributed to commodity and freight inflation alongside an adverse product mix. The market reacted swiftly, with shares falling over 14–15% and hitting the lower circuit on the same day.

Following the earnings release, brokerage firm Prabhudas Lilladher issued a 'Buy' recommendation on November 6, 2026, setting a target price of ₹5,334. While management anticipates stable demand, it highlighted ongoing uncertainties from geopolitical developments, supply-chain volatility, and inflationary pressures as key factors shaping the operating environment.

- Q2 FY27 Revenue Growth: Total sales rose 4% YoY to ₹3,247 crore, driven by strong demand in data centers and manufacturing, with gains in both domestic and export segments.
- Profitability Contraction: Profit after tax fell 19–27% YoY (reported as ₹467–507 crore), accompanied by a 680 basis point decline in EBITDA margins due to commodity/freight costs and unfavorable product mix.
- Market Reaction: Shares dropped over 14–15% and hit the lower circuit on November 5, 2026, reflecting investor sensitivity to margin compression despite top-line growth.
- Analyst View: Prabhudas Lilladher assigned a 'Buy' rating with a target price of ₹5,334 on November 6, 2026, while management cited geopolitical and supply-chain risks as persistent headwinds.

- [Buy Cummins India; target of Rs 5334: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/stocks/buy-cummins-india-target-of-rs-5334-prabhudas-lilladher-2-14073080.html)
- [Buy Cummins India; target of Rs 5334: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/stocks/buy-cummins-india-target-of-rs-5334-prabhudas-lilladher-14073023.html)
- [Cummins India Q2 result: Net profit falls 27 pc to Rs 467 crore](https://ianslive.in/cummins-india-q2-fy27-pat-falls-27-pc-to-rs-467-crore--20261105135736)
- [Cummins India shares crash 15% after Q2 net profit falls 19% YoY, margins take 680 bps hit](https://economictimes.indiatimes.com/markets/stocks/news/cummins-india-shares-crash-15-after-q2-net-profit-falls-19-yoy-margins-take-680-bps-hit/articleshow/135560666.cms)
- [Q2 Impact: Cummins India Share Price Tanks Over 14% As Profit Slumped, Margins Narrowed Sharply](https://www.ndtvprofit.com/business/q2-impact-cummins-india-share-price-tanks-10-hits-lower-circuit-12285411)

### What Changed

On November 6, 2026, brokerage firm Prabhudas Lilladher issued a 'Buy' recommendation for Cummins India (NSE: CUMMINSIND), setting a price target of ₹5,334. This development was reported via Moneycontrol on the same date. At the time of this report, the stock was trading at ₹4,048.80, implying a significant upside potential relative to the current market price as per the analyst's valuation. The previous recorded closing price was ₹4,725.70. No new corporate filings or other news developments were reported in the provided data for this period.

- Prabhudas Lilladher issued a 'Buy' recommendation with a target price of ₹5,334 on November 6, 2026.
- The stock traded at ₹4,048.80 on the observation date, below the stated target.
- The previous recorded price was ₹4,725.70.

- [Buy Cummins India; target of Rs 5334: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/stocks/buy-cummins-india-target-of-rs-5334-prabhudas-lilladher-2-14073080.html)
- [Buy Cummins India; target of Rs 5334: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/stocks/buy-cummins-india-target-of-rs-5334-prabhudas-lilladher-14073023.html)

### Official Filings

Cummins India Limited has reported unaudited financial results for the quarter and half-year ended September 30, 2026. Standalone total sales for the quarter were ₹3,247 crore, representing a 4% year-over-year increase but a 4% sequential decline. Profit before tax stood at ₹601 crore with an 18.5% margin, marking a significant contraction of 28.4% year-over-year and 16.6% sequentially. Consequently, profit after tax was ₹467 crore, reflecting a net profit margin of 14.4%. The Board approved these results on November 4, 2026.

In governance developments, Mr. Adegbile Adewunmi assumed the role of Managing Director effective November 1, 2026, and will lead the upcoming conference call scheduled for November 16, 2026. On the regulatory front, the company disclosed an order from the Jaipur CGST & Central Excise Commissionerate dated October 28, 2026, demanding IGST of Rs. 5,19,10,293 along with an identical penalty amount for assessment years 2020-21 to 2023-24. Cummins India states it is evaluating legal remedies, including an appeal, and asserts that this matter will have no material impact on its financials or operations.

- Q2 FY2026-27 standalone sales were ₹3,247 crore (+4% YoY, -4% QoQ), while profit before tax fell 28.4% YoY to ₹601 crore (18.5% margin).
- Mr. Adegbile Adewunmi became Managing Director on November 1, 2026; the earnings conference call is set for November 16, 2026, at 10:00 AM IST.
- The company faces a GST demand of Rs. 5,19,10,293 plus an equal penalty for AY 2020-21 to 2023-24; management claims no material financial impact and is considering an appeal.

- [Cummins India Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/CUMMINSIND_04112026223607_SEintimation_OutcomeFR_04112026.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753292_04112026105837_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753299_04112026111238_WEB.xml)
- [Cummins India Limited has informed the Exchange regarding a press release dated November 04, 2026, titled "Cummins India Limited - Results for the quarter and period ended September 30, 2026". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/CUMMINSIND_04112026232559_SEIntimationPressRelease_04112026.pdf)
- [Cummins India Limited has informed the Exchange about Action(s) taken or orders passed |SUBJECT: Action(s) taken or orders passed](https://nsearchives.nseindia.com/corporate/CUMMINSIND_28102026173906_SEintimationReg30.pdf)
- [Cummins India Limited has informed the Exchange about Schedule of meet |SUBJECT: Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/CUMMINSIND_28102026174344_SEintimationEarningCalls.pdf)
- [Cummins India Limited has informed the Exchange about Action(s) taken or orders passed (sub-para 20) |SUBJECT: Actions initiated/taken or orders passed-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/AIATOP_173_WebXMLFile_20261028_174821334.xml)
- [Cummins India Limited has informed the Exchange about Schedule of Analysts or Institutional Investors Meet |SUBJECT: Analyst/Investor Meet Para A-XBRL](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_173_WebXMLFile_20261028_174946052.xml)
- [Cummins India Limited has informed the Exchange about Copy of Newspaper Publication regarding intimation to shareholders for proposed postal ballot. |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/CUMMINSIND_27102026174944_Newspaper_covering_-_Pre-notice_PB_adv_Signed.pdf)
- [Cummins India Limited has informed the Exchange about Copy of Newspaper Publication regarding special window for transfer and dematerialization of physical securities. |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/CUMMINSIND_16102026144551_SE_Intimation_Newspaper_covering__October_Publication_.pdf)

### Fundamentals

Cummins India demonstrates a robust long-term growth trajectory, with sales growing at a compounded annual rate of 16% over three years and 23% over five years. For the trailing twelve months (TTM) ending in FY2026, revenue reached ₹12,662 crore, up from ₹10,391 crore in FY2025, while net profit rose to ₹2,367 crore from ₹2,000 crore. The company maintains exceptional capital efficiency, evidenced by a Return on Capital Employed (ROCE) of 40% in Mar 2026 and a Return on Equity (ROE) of 30% for the last year.

However, recent quarterly momentum shows signs of deceleration. In Q2 FY2026-27 (ended Sep 2026), sequential revenue decreased to ₹3,301 crore from ₹3,426 crore in Q1, and segment profit fell to ₹641 crore from ₹787 crore. Net profit also declined sequentially to ₹507 crore. Despite this short-term softness, earnings quality remains strong, with Cash Flow from Operations (CFO) consistently covering operating profits (CFO/EBITDA ratio averaged 91-109% historically). The balance sheet is conservative; borrowings dropped significantly from ₹127 crore in Mar 2024 to ₹30 crore in Mar 2025, rising slightly to ₹37 crore in Mar 2026. Working capital days increased to 60 days in Mar 2026 from 49 days in Mar 2025, suggesting a slight tightening in cash conversion cycles.

The most critical checkpoint is whether the sequential decline in Q2 FY2026-27 results marks a temporary seasonal fluctuation or a structural margin pressure, particularly given the rise in 'Other Expenses' to ₹319 crore in Q2 versus ₹298 crore in Q1.

- Strong Long-Term Growth: Sales CAGR is 16% (3Y) and 23% (5Y); TTM sales are ₹12,662 crore with net profit of ₹2,367 crore.
- Recent Sequential Deceleration: Q2 FY2026-27 saw sequential drops in revenue (₹3,301 cr vs ₹3,426 cr) and segment profit (₹641 cr vs ₹787 cr).
- High Capital Efficiency: ROCE improved to 40% in Mar 2026, supported by low borrowings (₹37 cr) and high ROE (30%).
- Cash Flow Quality: CFO has historically exceeded operating profit (101%-109% conversion), though working capital days widened to 60 days in Mar 2026.

### Bear Case

Cummins India faces significant near-term headwinds as evidenced by a sharp deterioration in profitability and technical weakness. For Q2 FY27, the company reported a 27% year-on-year decline in net profit to ₹467 crore, driven by margin pressures from commodity and freight inflation alongside an adverse product mix. This earnings miss triggered a severe market reaction, with shares crashing over 15% on November 6, 2026, hitting the lower circuit. Technical indicators reflect this bearish sentiment; the daily Supertrend is bearish, and the stock has entered a maximum drawdown of -32.8%. Over the past three months, the share price has fallen 25%, eroding recent gains despite modest revenue growth of 4% to ₹3,247 crore. The company cites ongoing geopolitical uncertainties and supply-chain volatility as persistent operational risks.

- {'detail': 'Q2 FY27 net profit fell 27% YoY to ₹467 crore due to margin contraction and unfavorable product mix.', 'metric': 'Profitability Decline'}
- {'detail': 'Shares crashed 15% post-results; current maximum drawdown stands at -32.8% with a 3-month return of -25.0%.', 'metric': 'Price Action & Drawdown'}
- {'detail': 'Daily Supertrend is bearish; immediate support lies at ₹3965.57 (-2.06%), while resistance is near ₹4101.50.', 'metric': 'Technical Trend'}
- {'detail': 'Company highlights continued exposure to commodity/freight inflation and geopolitical supply-chain volatility.', 'metric': 'Operational Risks'}

- [Buy Cummins India; target of Rs 5334: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/stocks/buy-cummins-india-target-of-rs-5334-prabhudas-lilladher-2-14073080.html)
- [Buy Cummins India; target of Rs 5334: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/stocks/buy-cummins-india-target-of-rs-5334-prabhudas-lilladher-14073023.html)
- [Cummins India Q2 result: Net profit falls 27 pc to Rs 467 crore](https://ianslive.in/cummins-india-q2-fy27-pat-falls-27-pc-to-rs-467-crore--20261105135736)
- [Cummins India shares crash 15% after Q2 net profit falls 19% YoY, margins take 680 bps hit](https://economictimes.indiatimes.com/markets/stocks/news/cummins-india-shares-crash-15-after-q2-net-profit-falls-19-yoy-margins-take-680-bps-hit/articleshow/135560666.cms)
- [Q2 Impact: Cummins India Share Price Tanks Over 14% As Profit Slumped, Margins Narrowed Sharply](https://www.ndtvprofit.com/business/q2-impact-cummins-india-share-price-tanks-10-hits-lower-circuit-12285411)
- [Cummins India Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/CUMMINSIND_04112026223607_SEintimation_OutcomeFR_04112026.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753292_04112026105837_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753299_04112026111238_WEB.xml)
- [Cummins India Limited has informed the Exchange regarding a press release dated November 04, 2026, titled "Cummins India Limited - Results for the quarter and period ended September 30, 2026". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/CUMMINSIND_04112026232559_SEIntimationPressRelease_04112026.pdf)
- [Cummins India Limited has informed the Exchange about Action(s) taken or orders passed |SUBJECT: Action(s) taken or orders passed](https://nsearchives.nseindia.com/corporate/CUMMINSIND_28102026173906_SEintimationReg30.pdf)

### FAQs

**What drove the sharp decline in Cummins India's Q2 FY27 profitability?**

Cummins India reported a 27% year-on-year drop in net profit to ₹467 crore for Q2 FY27. This contraction was primarily driven by margin pressures from commodity and freight inflation, alongside an adverse product mix. While total sales grew modestly by 4% to ₹3,247 crore, the company noted that these cost headwinds significantly impacted earnings.

**How did the market react to the Q2 results, and what are the current technical levels?**

Shares fell over 14% following the results, hitting the lower circuit as EBITDA margins contracted by 680 basis points. As of November 6, 2026, the stock trades near ₹4,049 with a daily Supertrend indicating a bearish trend. Immediate resistance is seen at ₹4,101.50, while support levels exist at ₹3,965.57 and ₹3,872.23.

**Are there any regulatory or legal developments investors should monitor?**

On October 28, 2026, the CGST & Central Excise Commissionerate issued an order demanding IGST of ₹5.19 crore plus an equal penalty for assessment years 2020-21 to 2023-24. The company states this arose from an underlying adjustment during assessment proceedings, is evaluating legal remedies including an appeal, and expects no material impact on its financials or operations.

- [Buy Cummins India; target of Rs 5334: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/stocks/buy-cummins-india-target-of-rs-5334-prabhudas-lilladher-2-14073080.html)
- [Buy Cummins India; target of Rs 5334: Prabhudas Lilladher](https://www.moneycontrol.com/news/business/stocks/buy-cummins-india-target-of-rs-5334-prabhudas-lilladher-14073023.html)
- [Cummins India Q2 result: Net profit falls 27 pc to Rs 467 crore](https://ianslive.in/cummins-india-q2-fy27-pat-falls-27-pc-to-rs-467-crore--20261105135736)
- [Cummins India shares crash 15% after Q2 net profit falls 19% YoY, margins take 680 bps hit](https://economictimes.indiatimes.com/markets/stocks/news/cummins-india-shares-crash-15-after-q2-net-profit-falls-19-yoy-margins-take-680-bps-hit/articleshow/135560666.cms)
- [Q2 Impact: Cummins India Share Price Tanks Over 14% As Profit Slumped, Margins Narrowed Sharply](https://www.ndtvprofit.com/business/q2-impact-cummins-india-share-price-tanks-10-hits-lower-circuit-12285411)
- [Cummins India Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/CUMMINSIND_04112026223607_SEintimation_OutcomeFR_04112026.pdf)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753292_04112026105837_WEB.xml)
- [Integrated Filing- Financials|Original|](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753299_04112026111238_WEB.xml)
- [Cummins India Limited has informed the Exchange regarding a press release dated November 04, 2026, titled "Cummins India Limited - Results for the quarter and period ended September 30, 2026". |SUBJECT: Press Release](https://nsearchives.nseindia.com/corporate/CUMMINSIND_04112026232559_SEIntimationPressRelease_04112026.pdf)
- [Cummins India Limited has informed the Exchange about Action(s) taken or orders passed |SUBJECT: Action(s) taken or orders passed](https://nsearchives.nseindia.com/corporate/CUMMINSIND_28102026173906_SEintimationReg30.pdf)
## Technical analytics

- As of: 2026-11-06
- Daily trend: Strong Downtrend
- Weekly trend: Weak Downtrend
- Pivot point: ₹4,124.53
- Risk regime: Higher Price Risk

### Support levels
- 3833
- 3772.7
- 3312.4

### Resistance levels
- 4101.5
- 4176
- 4352.3125

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | -0.25% |
| return_10 | -6.80% |
| return_1m | -17.69% |
| return_1y | -6.19% |
| return_20 | -14.60% |
| return_3m | -25.05% |
| return_5 | -9.07% |
| return_6m | -23.96% |
| return_since_start | +25.33% |
| return_ytd | -9.43% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | high_risk |
| label | Higher price risk |
| summary | Recent drawdown or price variability is materially high and may lead to larger short-term outcomes. |
| maximum_drawdown | -32.83% |
| annualized_volatility | +31.11% |

## Quarterly financials

- Latest complete quarter: fy27_q2

# Cummins India Limited Q2 FY2026-27: Profit falls faster than revenue

Revenue from operations was ₹3,301 crore in Q2 FY2026-27, down 3.6% from Q1 but 4.1% above the year-earlier quarter. Profit after tax fell 16.8% sequentially to ₹507 crore and was 18.5% lower year on year, while operating cash flow was ₹1,021 crore.

## Revenue and segment activity

Consolidated revenue from operations declined by ₹125 crore from Q1 FY2026-27’s ₹3,426 crore. Income, including other income, was ₹3,438 crore, down from ₹3,563 crore in Q1. Against Q2 FY2025-26, revenue from operations increased 4.1% from ₹3,170 crore.

Segment revenue from operations was ₹3,247 crore, down 3.8% sequentially and up 4.0% year on year. Inter-segment revenue rose 1.1% from Q1 to ₹1,015 crore. Segment profit before tax declined 18.5% sequentially to ₹641 crore, a steeper fall than segment revenue; it was 22.2% below the year-earlier quarter.

## Costs and profitability

Total expenses were ₹2,852 crore, 0.5% lower than Q1 FY2026-27. Other expenses increased 7.2% sequentially to ₹319 crore, while finance costs declined to ₹3 crore from ₹3.9 crore. Cost of materials consumed was ₹2,118 crore and employee benefit expense was ₹235 crore in the quarter.

Profit before tax fell 15.8% from Q1’s ₹697 crore to ₹587 crore and was 23.4% below Q2 FY2025-26’s ₹766 crore. Tax expense declined to ₹134 crore from ₹178 crore in Q1. Profit after tax was ₹507 crore, compared with ₹609 crore in Q1 and ₹622 crore a year earlier. Basic EPS was ₹18.30, down from ₹21.98 in Q1 and ₹22.45 in Q2 FY2025-26.

## Cash generation and balance sheet

Operating cash flow was ₹1,021 crore in Q2, and reported free cash flow was ₹936 crore. Investing activities used ₹85 crore and financing activities used ₹1,281 crore during the quarter.

At 30 September 2026, cash and cash equivalents were ₹166 crore, compared with ₹500 crore at 31 March 2026. Current investments increased to ₹2,129 crore from ₹1,548 crore, while bank balances other than cash and cash equivalents decreased to ₹1,462 crore from ₹1,874 crore.

Inventories stood at ₹1,355 crore, up from ₹1,168 crore at 31 March 2026. Trade receivables were ₹2,646 crore, compared with ₹2,754 crore at that date. Equity attributable to owners of the parent was ₹8,299 crore, against ₹8,475 crore at 31 March 2026.

## Key Takeaway

Q2 brought a sequential and year-on-year decline in profit, with segment profit falling more sharply than segment revenue. Operating cash flow remained substantial, while the balance-sheet mix shifted to lower cash and bank balances alongside higher current investments.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +51.00%
- FII holding: +21.19%
- DII holding: +19.06%
- Mutual fund holding: +12.55%
- Retail holding: +7.06%
- Promoter pledged: +0.00%

### Major reported shareholders

- Cummins Inc — +51.00% (Bodies Corporate)
- NPS Trust- A/C Sbi Pension Fund Scheme — +2.53%
- HDFC Mutual Fund - HDFC Mid-Cap Fund — +2.07%
- ICICI Prudential Large Cap Fund — +1.53%
- Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund A/C Axis Midcap Fund — +1.47%
- Life Insurance Corporation Of India — +1.20%
- Kotak Arbitrage Fund — +1.07%

## Official filings

- 2026-11-07 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_07112026160447_SEIntimationNewspaperPBfinal.pdf)
- 2026-11-06 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_06112026172100_SEIntimationNewspaperFRfinal.pdf)
- 2026-11-06 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/NOTICE_OF_SHAREHOLDERS_MEETINGS_173_WebXMLFile_20261106_174107909.xml)
- 2026-11-06 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_06112026173755_SEIntimationNoticeofPBfinal.pdf)
- 2026-11-04 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_04112026223607_SEintimation_OutcomeFR_04112026.pdf)
- 2026-11-04 — Financial Results Filing: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753292_04112026105837_WEB.xml)
- 2026-11-04 — Financial Results Filing: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/INTEGRATED_FILING_INDAS_1753299_04112026111238_WEB.xml)
- 2026-11-04 — Press Release: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_04112026232559_SEIntimationPressRelease_04112026.pdf)
- 2026-10-28 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_28102026173906_SEintimationReg30.pdf)
- 2026-10-28 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_28102026174344_SEintimationEarningCalls.pdf)
- 2026-10-28 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/AIATOP_173_WebXMLFile_20261028_174821334.xml)
- 2026-10-28 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SAIIM_173_WebXMLFile_20261028_174946052.xml)
- 2026-10-27 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_27102026174944_Newspaper_covering_-_Pre-notice_PB_adv_Signed.pdf)
- 2026-10-16 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_16102026144551_SE_Intimation_Newspaper_covering__October_Publication_.pdf)
- 2026-10-16 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_16102026183804_SEIntimationVRfinal.pdf)
- 2026-10-15 — Shareholding Disclosure: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/SHP_1738833_15102026033455_WEB.xml)
- 2026-10-15 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_15102026181803_SEIntimationProceedingsfinal.pdf)
- 2026-10-08 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_08102026181305_SEintimationBM08102026.pdf)
- 2026-10-08 — Management Change: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_08102026182130_SEintimationBM08102026.pdf)
- 2026-10-08 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_173_WebXMLFile_20261008_182904841.xml)
- 2026-10-07 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_07102026171024_FinalSEintimationReg74_5_Sep2026.pdf)
- 2026-09-29 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_29092026195426_SEintimationCILITAct29092026.pdf)
- 2026-09-29 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/AIATOP_173_WebXMLFile_20260929_200418315.xml)
- 2026-09-28 — Generic Announcement: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_28092026195835_SEIntimationPriorBMTWCSept2026.pdf)
- 2026-09-28 — Board Meeting Notice: Cummins India Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/CUMMINSIND_28092026195454_SEIntimationPriorBMTWCSept2026.pdf)

## News and market events

- 2026-11-06 — MONEYCONTROL: **Buy Cummins India; target of Rs 5334: Prabhudas Lilladher** — Prabhudas Lilladher has issued a 'Buy' recommendation for Cummins India, setting a target price of Rs 5334. This financial advice was published on Moneycontrol on November 6, 2026. — [Source](https://www.moneycontrol.com/news/business/stocks/buy-cummins-india-target-of-rs-5334-prabhudas-lilladher-2-14073080.html)
- 2026-11-06 — MONEYCONTROL: **Buy Cummins India; target of Rs 5334: Prabhudas Lilladher** — Brokerage firm Prabhudas Lilladher has issued a 'Buy' recommendation for Cummins India, setting a price target of Rs 5334. The note was published on Moneycontrol on November 6, 2026. — [Source](https://www.moneycontrol.com/news/business/stocks/buy-cummins-india-target-of-rs-5334-prabhudas-lilladher-14073023.html)
- 2026-11-05 — IANSLIVE.IN: **Cummins India Q2 result: Net profit falls 27 pc to Rs 467 crore** — Cummins India reported a 27% year-on-year decline in profit after tax to Rs 467 crore for Q2 FY27, driven by margin pressures from commodity and freight inflation alongside an adverse product mix. Despite the drop in profitability, total sales grew 4% to Rs 3,247 crore, with domestic and export revenues rising due to healthy demand in sectors such as data centers and manufacturing. The company anticipates stable demand but notes that geopolitical uncertainties and supply-chain volatility continue to shape the operating environment. — [Source](https://ianslive.in/cummins-india-q2-fy27-pat-falls-27-pc-to-rs-467-crore--20261105135736)
- 2026-11-05 — Economic Times: **Cummins India shares crash 15% after Q2 net profit falls 19% YoY, margins take 680 bps hit** — Cummins India shares fell 15% after the company reported a 19% year-on-year decline in Q2 FY27 net profit to Rs 507 crore, driven by a sharp 680 basis point contraction in EBITDA margins. Although domestic sales and exports grew, profitability was weighed down by higher commodity and freight costs alongside an unfavourable product mix. The company anticipates steady demand but notes ongoing uncertainties from geopolitical developments, inflationary pressures, and supply-chain dynamics. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/cummins-india-shares-crash-15-after-q2-net-profit-falls-19-yoy-margins-take-680-bps-hit/articleshow/135560666.cms)
- 2026-11-05 — FEEDS: **Q2 Impact: Cummins India Share Price Tanks Over 14% As Profit Slumped, Margins Narrowed Sharply** — Cummins India reported mixed Q2 consolidated results, characterized by a modest rise in revenue alongside a sharp year-on-year decline in profitability and narrowed margins. This financial performance coincided with the company's share price dropping over 14% and hitting the lower circuit. — [Source](https://www.ndtvprofit.com/business/q2-impact-cummins-india-share-price-tanks-10-hits-lower-circuit-12285411)
- 2026-11-05 — CNBC-TV18: **Cummins India shares in focus after Q2 results miss; cost pressures impact margins** — Cummins India's Q2 FY27 results missed analyst estimates, with standalone revenue rising 4.1% to ₹3,301 crore and EBITDA declining 27.13% to ₹507 crore due to commodity cost inflation, higher freight costs, and a shift in product mix. The company's EBITDA margin contracted sharply by 658 basis points to 15.36%, while profit after tax fell 26.69% year-on-year to ₹467 crore. Despite the earnings miss, shares settled 2.55% higher on November 4. — [Source](https://www.cnbctv18.com/market/cummins-india-share-price-q2-results-miss-cost-pressures-impact-margins-20027475.htm)
- 2026-11-04 — FEEDS: **Q2 Results Live Updates: Lenskart Profit Jumps Multifold, Niva Bupa Profit Surges 124%** — Lenskart reported a multifold jump in profit, while Niva Bupa's profit surged 124% during the Q2FY27 earnings season. These results are part of the broader reporting period where 327 companies, including Cummins India, Zydus Lifesciences, and Apollo Tyres, announced their quarterly financial performance on November 4, 2026. — [Source](https://www.ndtvprofit.com/markets/q2-results-live-updates-november-4-bse-cummins-india-zydus-lifesciences-among-327-companies-to-announce-earnings-today-12280800)
- 2026-11-04 — Mint: **Top stocks to watch today:  BSE, Nykaa, NSE, SBI, IEX shares in focus on Wednesday, 4 Nov | Full list** — The Indian stock market is expected to open lower on November 4, breaking a four-session winning streak, as GIFT Nifty signals a weak start for domestic benchmarks. Several stocks including BSE, Nykaa, Lenskart, NSE, SBI, and IEX are in focus due to scheduled Q2FY27 earnings releases and operational updates. Key reported results include a 23% YoY rise in NSE's PAT, a 14% growth in SBI's standalone net profit, and a 130% jump in MCX's consolidated net profit. — [Source](https://www.livemint.com/market/stock-market-news/top-stocks-to-watch-today-bse-nykaa-nse-sbi-iex-shares-in-focus-on-wednesday-4-nov-full-list-11793755813757.html)
- 2026-11-01 — Orissa POST: **Stock markets to track geopolitical developments, oil prices, earnings this week: Analysts - OrissaPOST** — Reliance Industries Ltd posted a record quarterly profit of Rs 29,550 crore for July-September, up 33.8 per cent year-on-year, driven by its oil-to-chemicals business and telecom arm. Jio Platforms reported a 13.7 per cent rise in consolidated net profit to Rs 8,389 crore for the September 2026 quarter, driven by subscriber gains and higher realisations per user. — [Source](https://www.orissapost.com/stock-markets-to-track-geopolitical-developments-oil-prices-earnings-this-week-analysts/)
- 2026-11-01 — REDIFF.COM: **Geopolitical tensions, crude oil prices, and Q2 earnings to dictate market trends** — Analysts predict that escalating geopolitical tensions, particularly concerns over a renewed US-Iran conflict, and volatile crude oil prices will be primary drivers of market trends this week. Additionally, US midterm elections, movements in US Treasury yields, and foreign institutional investor flows are expected to significantly influence near-term sentiment and the sustainability of the recent market recovery. — [Source](https://www.rediff.com/business/report/stock-market-forecast-geopolitics-oil-prices-q2-earnings-us-midterms/20261101.htm)
- 2026-09-30 — Economic Times: **Stocks in news: Tata Steel, KPI Green Energy, NLC India, Poonawalla Fincorp and Cummins India** — Indian equity benchmarks faced a decline as both the Nifty 50 and BSE Sensex hit six-month lows. The Nifty 50 saw a drop of 64.05 points, or 0.28%, closing at 22,716.20. Notably, Tata Steel announced a favorable tax order and made significant investments in its subsidiary. Other companies including Poonawalla Fincorp and Cummins India reported various corporate developments affecting their market positions. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/stocks-in-news-tata-steel-kpi-green-energy-nlc-india-poonawalla-fincorp-and-cummins-india/articleshow/134571657.cms)
- 2026-09-29 — Mint: **Four blue-chip stocks in India with expanding margins** — Explore four blue-chip stocks in India that have reported improving operating and net profit margins — [Source](https://www.livemint.com/market/stock-market-news/four-blue-chip-stocks-in-india-with-expanding-margins-11790595838412.html)
- 2026-09-28 — BUSINESS: **Hitachi Energy India Ltd Slides 1.81%** — Hitachi Energy India Ltd has lost 8.47% over last one month compared to 5.28% fall in BSE Capital Goods index and 4.57% drop in the SENSEX — [Source](https://www.business-standard.com/markets/capital-market-news/hitachi-energy-india-ltd-slides-1-81-126092800211_1.html)
- 2026-09-28 — Mint: **India's AI enablers surge as data centre buildout gathers pace** — India’s AI-linked infrastructure stocks have surged despite a weak equity market, with Goldman Sachs identifying 42 enablers across power, data centres and semiconductors as demand for AI infrastructure accelerates. — [Source](https://www.livemint.com/market/stock-market-news/ai-stocks-india-data-centres-semiconductors-11790480876598.html)
- 2026-09-17 — Mint: **Hyderabad leads emergence of India’s new data centre hubs | Mint** — 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%. — [Source](https://www.livemint.com/technology/india-data-centre-capacity-hyderabad-dholera-ai-google-adani-11789615527566.html)
- 2026-09-11 — Mint: **India’s data centre surge is powering a massive boom in sales of generator sets | Mint** — 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. — [Source](https://www.livemint.com/industry/energy/india-data-centres-power-backup-gensets-electricity-supply-cummins-india-kirloskar-oil-engines-sterling-green-power-11789098449257.html)
- 2026-09-10 — The Hindu: **Cummins India To Showcase Integrated Power Solutions For India’s Evolving Infrastructure Needs At bauma CONEXPO India 2026** — Cummins India To Showcase Integrated Power Solutions For India’s Evolving Infrastructure Needs At bauma CONEXPO India 2026 — [Source](https://www.thehindubusinessline.com/brandhub/pr-release/cummins-india-to-showcase-integrated-power-solutions-for-indias-evolving-infrastructure-needs-at-bauma-conexpo-india-2026/article71450359.ece)
- 2026-09-10 — Mint: **Swiggy, Jindal Steel among stocks to buy? Kotak Securities' expert bullish on 3 shares for short term | Do you own any?** — 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. — [Source](https://www.livemint.com/market/stock-market-news/swiggy-jindal-steel-among-stocks-to-buy-kotak-securities-expert-bullish-on-3-shares-for-short-term-do-you-own-any-11789026733235.html)
- 2026-08-16 — BUSINESSTODAY: **SBI Securities bullish on banks, NBFCS, defence; Shriram, Baja Fin, L&T, BEL are top picks** — SBI Securities Sunny Agrawal, SBI Securities stock picks, Sunny Agrawal stock picks, Q1FY27 earnings, stocks to buy, banking stocks to buy, NBFC stocks to buy, defence stocks to buy, SBI Securities recommendations, Indian stock market, corporate earnings India, Shriram Finance, Bajaj Finance, Mahindra & Mahindra Financial Services, Northern Arc, Bharat Electronics, Larsen & Toubro, Siemens Energy, Cummins India, Sunny Agrawal SBI Securities latest stock picks, SBI Securities top stocks to buy, SBI Securities Q1FY27 earnings outlook, best NBFC stocks to buy in India, SBI Securities banking and NBFC outlook, defence stocks recommended by SBI Securities — [Source](https://www.businesstoday.in/markets/stocks/story/sbi-securities-bullish-on-banks-nbfcs-defence-shriram-finance-bajaj-finance-lt-bel-are-top-picks-549453-2026-08-16)
- 2026-08-09 — Economic Times: **Mahindra Group appoints Shveta Arya as Group Chief Strategy Officer** — 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. — [Source](https://economictimes.indiatimes.com/news/company/corporate-trends/mahindra-group-appoints-shveta-arya-as-group-chief-strategy-officer/articleshow/133070636.cms)
- 2026-08-09 — CNBC-TV18: **Mahindra Group appoints Shveta Arya as Group Chief Strategy Officer** — 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. — [Source](https://www.cnbctv18.com/market/mahindra-group-appoints-former-cummins-india-md-shveta-arya-group-chief-strategy-officer-19965141.htm)
- 2026-08-09 — Economic Times: **bMahindra appoints former Cummins India MD Shveta Arya as Group Chief Strategy Officer/b** — 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. — [Source](https://auto.economictimes.indiatimes.com/news/industry/mahindra-appoints-former-cummins-india-md-shveta-arya-as-group-chief-strategy-officer/133070422)
- 2026-08-09 — BUSINESSTODAY: **Mahindra Group ropes in Cummins India MD Shveta Arya as Chief Strategy Officer** — Mahindra Group ropes in Cummins India MD Shveta Arya as Chief Strategy Officer — [Source](https://www.businesstoday.in/jobs/story/mahindra-group-ropes-in-cummins-india-md-shveta-arya-as-chief-strategy-officer-548193-2026-08-09)
- 2026-08-07 — CNBC-TV18: **Sensex Today | Stock Market Live Updates: GIFT Nifty 90 pts lower; Jefferies raises target for Premier Eng** — Sensex Today | Stock Market Live Updates: The index holding on to 24,500 levels on the downside is something that the bulls will be pleased with as analysts believe it is forming a base for a move, first towards 24,800, and eventually to record levels. Crude oil prices though, have staged a minor rebound overnight with brent returning to above $80 a barrel. — [Source](https://www.cnbctv18.com/market/stock-market-live-updates-sensex-nifty-50-today-cas-tata-hero-pgel-lic-sci-sbi-ncc-premier-crompton-midcaps-share-price-liveblog-19963799.htm)
- 2026-08-06 — CNBC-TV18: **From Trent and Britannia to LIC: Thursday's biggest earnings winners, losers and surprises** — Retail, FMCG, insurance and pharma dominated another busy day of results, but the biggest market moves came from the details hidden beneath the headline numbers. — [Source](https://www.cnbctv18.com/market/earnings/trent-britannia-lic-earnings-aug-6-biggest-q1-results-winners-losers-and-surprises-19963637.htm)

## Business profile

**Strategic vision:** Manufactures diesel and natural gas engines for various markets.

### Business segments
- **Engine Business:** This unit is responsible for manufacturing engines tailored for both on-highway commercial vehicle markets and the off-highway commercial equipment industry.
- **Power Systems Business:** 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.
- **Distribution Business:** This unit focuses on the distribution network for the company's extensive range of products and associated services.

### Competitive strengths
- 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.

## Related stocks

- [Dixon Technologies (India) Limited (Engineering & Capital Goods)](https://faxioms.com/stocks/dixon) — +0.07%
- [Havells India Limited (Engineering & Capital Goods)](https://faxioms.com/stocks/havells) — +5.61%
- [Mazagon Dock Shipbuilders Limited (Engineering & Capital Goods)](https://faxioms.com/stocks/mazdock) — +0.05%
- [Polycab India Limited (Engineering & Capital Goods)](https://faxioms.com/stocks/polycab) — +0.28%
- [Solar Industries India Limited (Engineering & Capital Goods)](https://faxioms.com/stocks/solarinds) — +0.48%

## Freshness and sources

- Data as of: 2026-11-06
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/cumminsind
Markdown representation: https://faxioms.com/stocks/cumminsind?render=md