Cummins India Ltd.

NSE: CUMMINSIND · Capital Goods

₹4,048.80-0.25%06 Nov 2026

Ask the data

Instant answers about Cummins India Ltd. — computed from its filings, no language model

Market cap₹1,12,233 cr

Current price₹4,048.80

High / Low₹6,028 / ₹3,928

P/E49.8

P/B13.52

Book value₹299.4

ROE27.1%

ROCE31.7%

Debt / equity0.00

Dividend yield1.32%

EPS (TTM)₹81.24

Face value₹2

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 7 periods

	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	5,191	4,360	6,171	7,772	9,000	10,391	12,143
EBITDA	589	582	888	1,248	1,770	2,080	2,595
Operating margin	11.3%	13.3%	14.4%	16.1%	19.7%	20.0%	21.4%
Interest	21	17	12	16	27	16	12
Depreciation	121	127	136	142	159	185	199
Profit before tax	685	712	983	1,383	1,959	2,326	2,820
Tax	102	190	273	363	484	593	724
Net profit	706	635	934	1,228	1,721	2,000	2,362
EPS ₹	25.45	22.91	33.69	44.31	62.07	72.15	85.20
Operating cash flow	—	—	712	820	1,285	1,685	1,734
Capex	—	—	152	162	286	238	252
Dividend paid	—	—	444	624	859	1,053	1,483
Total assets	—	5,956	7,112	7,919	8,971	10,168	11,304
Equity	—	4,651	5,145	5,758	6,612	7,561	8,475

Quarterly performance

last 30 quarters · ₹ crore

showing latest 8 of 30 periods

	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	1,352	1,321	1,456	1,062	503	1,170	1,431	1,256	1,195	1,730	1,744	1,502	1,696	1,957	2,185	1,934	2,218	1,922	2,541	2,319	2,316	2,509	3,096	2,470	2,907	3,170	3,055	3,011	3,426	3,301
Operating profit	152	154	216	67	2	169	242	169	148	259	273	208	215	290	413	330	342	346	543	539	473	484	598	525	624	695	634	642	616	506
Operating margin	11.2%	11.6%	14.9%	6.3%	0.4%	14.4%	16.9%	13.5%	12.4%	15.0%	15.6%	13.9%	12.7%	14.8%	18.9%	17.1%	15.4%	18.0%	21.3%	23.2%	20.4%	19.3%	19.3%	21.3%	21.4%	21.9%	20.8%	21.3%	18.0%	15.3%
Other income	63	65	63	67	97	58	61	59	55	60	61	67	67	69	85	87	89	90	99	100	104	105	111	126	134	123	116	145	137	137
Interest	5	6	5	5	4	4	5	3	2	2	3	5	2	5	3	7	8	7	6	6	5	3	3	5	3	3	5	2	4	3
Depreciation	30	30	30	31	31	33	32	31	31	34	35	35	34	36	35	38	36	38	42	42	44	45	49	46	48	49	50	51	53	54
Profit before tax	180	183	228	94	63	190	265	193	302	283	295	235	231	318	460	373	387	391	591	590	528	542	657	600	719	766	569	766	697	587
Tax	58	33	58	-47	18	43	69	60	67	73	79	55	65	84	119	95	99	100	148	137	132	144	155	161	181	202	139	202	178	134
Net profit	78	183	200	170	53	173	240	169	247	221	250	216	198	267	414	349	354	329	499	539	463	449	558	530	604	622	486	649	609	507
EPS ₹	5.50	6.60	7.21	6.14	1.91	6.25	8.67	6.08	8.91	7.97	9.00	7.80	7.15	9.64	14.93	12.59	12.76	11.87	18.00	19.44	16.69	16.21	20.15	19.10	21.79	22.45	17.53	23.43	21.98	18.30
Revenue YoY	—	—	—	—	-62.8%	-11.4%	-1.7%	18.2%	137.6%	47.9%	21.8%	19.6%	41.9%	13.1%	25.3%	28.7%	30.8%	-1.8%	16.3%	19.9%	4.4%	30.6%	21.8%	6.5%	25.5%	26.4%	-1.3%	21.9%	17.9%	4.1%
Profit YoY	—	—	—	—	-31.9%	-5.3%	20.2%	-1.0%	365.7%	27.6%	3.8%	28.3%	-19.8%	20.9%	65.9%	61.3%	78.5%	23.1%	20.6%	54.4%	30.8%	36.5%	11.9%	-1.7%	30.5%	38.5%	-13.0%	22.7%	0.9%	-18.5%

Earlier results (standalone, Sep '07 – Mar '19)

₹ crore · from BSE, before the NSE XBRL filings begin

Cummins India Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 11 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†	FY18†	FY19†
Revenue	3,358	2,875	4,061	4,176	4,589	3,977	4,406	4,724	5,340	5,161	5,659
Operating profit	561	582	779	735	835	697	735	760	802	732	864
Operating margin	16.7%	20.2%	19.2%	17.6%	18.2%	17.5%	16.7%	16.1%	15.0%	14.2%	15.3%
Other income	67	67	62	83	221	178	287	228	208	228	293
Interest	3	2	2	3	5	4	5	1	17	15	16
Depreciation	46	36	37	42	47	53	80	81	85	94	110
Profit before tax	599	611	802	825	1,051	818	937	906	908	908	1,030
Tax	165	167	211	233	287	217	152	155	174	200	308
Net profit	434	444	591	591	764	600	786	752	735	708	723

Quarters

showing latest 8 of 47 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†	MAR '18†	JUN '18†	SEP '18†	DEC '18†	MAR '19†
Revenue	528	590	670	707	808	771	1,071	639	619	828	788	928	1,091	993	1,049	1,045	1,090	1,000	1,040	1,259	1,087	1,089	1,154	1,049	933	1,023	972	1,045	1,144	1,083	1,134	1,314	1,198	1,147	1,065	1,259	1,360	1,453	1,268	1,419	1,154	1,355	1,233	1,328	1,487	1,504	1,340
Operating profit	73	87	74	94	123	162	182	117	113	190	161	197	217	180	185	186	176	179	195	232	200	209	194	176	153	198	171	180	190	189	176	218	201	171	171	206	199	226	170	195	167	197	173	215	251	227	172
Operating margin	13.7%	14.7%	11.0%	13.3%	15.2%	21.0%	17.0%	18.4%	18.3%	22.9%	20.4%	21.3%	19.9%	18.1%	17.6%	17.8%	16.1%	17.9%	18.7%	18.5%	18.4%	19.1%	16.8%	16.7%	16.4%	19.3%	17.6%	17.2%	16.6%	17.5%	15.5%	16.6%	16.8%	14.9%	16.0%	16.4%	14.6%	15.6%	13.4%	13.8%	14.5%	14.5%	14.0%	16.2%	16.9%	15.1%	12.8%
Other income	26	27	46	38	16	13	1	17	16	21	14	10	21	10	21	16	16	27	24	38	34	66	82	67	56	24	31	107	73	41	66	60	60	57	51	42	69	46	51	58	54	50	66	70	78	76	69
Interest	0	0	0	1	0	0	2	1	1	0	0	0	0	0	1	0	0	0	2	1	1	1	1	1	1	1	1	1	1	1	1	0	0	0	0	2	4	5	5	4	4	3	3	4	4	4	5
Depreciation	8	9	9	10	10	11	15	9	10	8	10	9	9	9	9	9	10	11	12	11	12	12	12	12	13	13	15	19	20	22	19	20	20	20	21	21	21	22	21	21	22	24	27	27	27	28	28
Profit before tax	91	105	111	121	129	183	166	125	119	202	165	197	228	180	196	243	182	195	205	258	221	310	263	229	194	207	187	267	241	208	222	257	241	207	201	225	243	245	195	285	195	220	209	254	298	270	209
Tax	25	30	35	33	35	50	48	35	32	54	46	57	60	42	52	66	53	54	60	78	60	76	74	63	50	60	45	55	39	26	32	47	42	29	37	44	46	47	37	63	42	48	48	71	86	83	68
Net profit	66	75	76	88	94	133	118	90	88	148	118	140	168	139	144	177	129	141	145	181	161	234	189	166	145	147	142	212	202	181	190	211	199	178	164	181	197	198	158	222	153	172	161	183	212	187	141
EPS ₹	3.36	3.77	3.82	4.46	4.74	6.73	5.97	4.53	4.43	7.48	5.98	7.08	8.48	7.02	7.27	8.95	4.64	5.08	5.22	6.51	5.81	8.44	6.80	6.00	5.22	5.31	5.12	7.65	7.30	6.53	6.87	7.60	7.17	6.43	5.92	6.54	7.10	7.15	5.72	8.01	5.52	6.21	5.82	6.60	7.63	6.75	5.08
Revenue YoY	—	—	—	—	53.0%	30.6%	59.9%	-9.6%	-23.4%	7.4%	-26.4%	45.1%	76.3%	19.9%	33.1%	12.6%	-0.1%	0.7%	-0.8%	20.4%	-0.3%	9.0%	10.9%	-16.6%	-14.2%	-6.1%	-15.8%	-0.4%	22.7%	5.9%	16.7%	25.8%	4.7%	5.9%	-6.0%	-4.2%	13.5%	26.7%	19.0%	12.7%	-15.2%	-6.8%	-2.7%	-6.4%	28.9%	11.0%	8.7%
Profit YoY	—	—	—	—	41.3%	78.7%	56.3%	1.6%	-6.6%	11.1%	0.1%	56.4%	91.3%	-6.2%	21.7%	26.3%	-23.4%	1.5%	0.4%	1.9%	25.2%	66.1%	30.4%	-8.0%	-10.0%	-37.1%	-24.8%	27.6%	39.8%	23.0%	34.3%	-0.6%	-1.9%	-1.5%	-13.8%	-14.0%	-0.9%	11.1%	-3.5%	22.6%	-22.3%	-13.1%	1.7%	-17.6%	38.4%	8.7%	-12.6%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 27 periods

	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	14.7%	14.2%	13.9%	14.9%	13.7%	17.8%	18.9%	19.0%	18.1%	17.2%	17.5%	20.6%	21.3%	24.0%	23.8%	25.2%	26.0%	27.7%	28.0%	28.8%	26.4%	28.3%	29.3%	28.4%	27.9%	27.9%	27.1%
ROCE	15.4%	12.8%	12.9%	13.7%	15.6%	20.7%	22.6%	23.2%	20.4%	19.1%	19.7%	22.6%	22.9%	25.6%	25.8%	28.0%	29.6%	31.6%	32.6%	33.5%	31.0%	33.5%	34.9%	33.8%	33.4%	33.2%	31.7%
Net margin	12.2%	14.0%	14.2%	15.3%	14.6%	16.4%	15.6%	15.0%	15.1%	13.3%	13.5%	14.9%	15.8%	16.7%	17.5%	17.8%	19.1%	20.1%	20.1%	19.6%	19.2%	19.5%	19.9%	19.3%	19.4%	18.7%	17.6%
EBITDA margin	11.3%	10.1%	10.8%	11.5%	13.3%	14.4%	14.6%	14.3%	14.4%	14.3%	14.3%	15.3%	16.1%	16.6%	17.3%	18.1%	19.7%	20.9%	21.0%	20.4%	20.0%	20.3%	21.0%	21.4%	21.4%	20.4%	18.8%
Debt / equity	0.07	0.07	0.07	0.07	0.00	0.00	0.00	0.00	0.08	0.08	0.05	0.05	0.06	0.06	0.04	0.04	0.02	0.02	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest coverage	33.60	29.35	32.33	34.34	43.47	67.84	83.52	101.65	92.76	85.96	75.31	86.71	86.18	70.85	67.75	63.79	72.51	86.60	111.92	138.36	147.75	186.95	203.95	174.80	228.21	205.78	186.54
Asset turnover	0.86	0.72	0.69	0.69	0.73	0.85	0.94	0.99	0.87	0.94	0.94	1.00	0.98	1.05	0.99	1.04	1.00	1.01	1.03	1.09	1.02	1.08	1.10	1.10	1.07	1.12	1.12

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 16 periods

	MAR '15‡	MAR '16‡	MAR '17‡	MAR '18‡	MAR '19‡	MAR '21‡	MAR '22‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share capital	55	55	55	55	55	55	55	55	55	55	55	55	55	55	55	55
Other equity / reserves	3,033	3,553	3,816	4,063	4,228	4,596	5,090	5,264	5,703	6,024	6,557	6,912	7,506	7,840	8,420	8,244
Total equity	3,089	3,609	3,871	4,119	4,283	4,651	5,145	5,319	5,758	6,080	6,612	6,967	7,561	7,895	8,475	8,299
Borrowings	3	3	252	257	313	20	395	244	350	250	100	1	0	0	0	0
Current liabilities	1,298	902	1,216	1,456	1,534	1,109	1,745	1,749	1,890	1,895	2,057	2,107	2,233	2,330	2,440	2,647
Non-current liabilities	212	151	127	140	243	196	222	279	270	338	301	323	349	316	389	440
Total assets	4,599	4,662	5,214	5,715	6,060	5,956	7,112	7,347	7,919	8,312	8,971	9,397	10,168	10,540	11,304	11,386
Property, plant & equipment	1,294	1,283	1,225	1,284	1,284	1,137	1,154	1,192	1,169	1,171	1,195	1,245	1,292	1,317	1,368	1,358
Capital work-in-progress	171	519	463	39	159	79	60	64	41	49	95	65	78	72	77	79
Investments	536	296	670	506	248	327	578	1,283	1,457	1,735	1,642	1,664	1,482	2,186	2,153	2,840
Inventories	741	607	570	544	633	564	738	890	904	1,022	950	1,157	1,004	1,162	1,168	1,355
Receivables	980	946	964	1,338	1,284	1,088	1,258	1,415	1,597	1,482	2,085	2,144	2,278	2,565	2,754	2,646
Cash & equivalents	91	85	124	152	195	122	177	468	397	406	300	233	235	214	500	166

Cash flow

annual · ₹ crore · line = free cash flow

showing latest 5 of 11 periods

	FY16‡	FY17‡	FY18‡	FY19‡	FY20‡	FY21‡	FY22	FY23	FY24	FY25	FY26
Cash from operations	696	748	632	553	601	789	712	820	1,285	1,685	1,734
Cash from investing	-212	-487	-134	16	-214	15	-586	69	-268	-582	15
Cash from financing	-471	-226	-470	-525	-412	-873	-82	-687	-1,134	-1,168	-1,495
Capex	492	245	191	283	258	78	152	162	286	238	252
Free cash flow	203	503	441	270	343	711	560	658	999	1,447	1,483
Dividends paid	—	—	—	—	—	—	444	624	859	1,053	1,483

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹1,358 cr12%

CWIP

₹79 cr1%

Investments

₹2,840 cr25%

Inventories

₹1,355 cr12%

Receivables

₹2,646 cr23%

Cash & equivalents

₹166 cr1%

Other assets

₹2,943 cr26%

Peer comparison

largest in Capital Goods · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Hindustan Aeronautics Ltd.	3,33,052	4,980.00	35.7	8.12	22.7%
Bharat Electronics Ltd.	2,89,468	396.00	45.2	11.02	24.4%
Tata Motors Ltd.	1,56,797	425.50	24.8	10.26	41.3%
Bharat Heavy Electricals Ltd.	1,45,828	418.80	50.7	5.45	10.8%
ABB India Ltd.	1,43,541	6,774.00	55.7	15.37	27.6%
Siemens Ltd.	1,26,736	3,560.00	28.2	8.02	28.4%
Hitachi Energy India Ltd.	1,23,988	27,800.00	107.8	23.95	22.2%
CG Power and Industrial Solutions Ltd.	1,21,786	773.00	89.1	13.94	15.6%
Polycab India Ltd.	1,18,610	7,871.00	37.6	9.06	24.1%
Cummins India Ltd.	1,12,233	4,048.80	49.8	13.52	27.1%

StoxGud checklist: Neutral setup · 4/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month-16.9%

6 months-25.1%

1 year-7.1%

3Y CAGR+32.9%

5Y CAGR+34.8%

10Y CAGR+17.1%

50-day avg₹4,818.02

200-day avg₹5,028.56

RSI (14)34

Long-term financials (FY12–FY16)

from published annual reports

Year	Revenue	Profit before tax	Net profit
FY16	₹5,252 Cr	₹908 Cr	₹733 Cr
FY14	₹3,977 Cr	₹818 Cr	₹600 Cr
FY13	₹4,589 Cr	₹990 Cr	₹764 Cr
FY12	₹4,117 Cr	₹773 Cr	₹591 Cr

Years before FY17 follow the older Indian GAAP standard, so they are not exactly comparable with recent years.

Compare Cummins India Ltd. with

Siemens vs Cummins India Hitachi Energy India vs Cummins India CG Power and Industrial Solutions vs Cummins India Polycab India vs Cummins India Cummins India vs GE Vernova T&D India Cummins India vs Ashok Leyland Cummins India vs Siemens Energy India

FAQs

What is the share price of Cummins India Ltd.?

Cummins India Ltd. (CUMMINSIND) closed at ₹4,048.80 on NSE on 06 Nov 2026.

What is the market cap of Cummins India Ltd.?

₹1,12,233 crore at the latest close.

What is the P/E ratio of Cummins India Ltd.?

49.8, on trailing-twelve-month earnings from its filings.

How fast is Cummins India Ltd. growing?

Cummins India Ltd.: revenue has compounded at 16.0% a year over three years; net profit at 24.4% a year. Latest-quarter revenue is up 4.1% year on year, profit down 18.5%.

How profitable is Cummins India Ltd.?

On a trailing-twelve-month basis return on equity is 27.1%, return on capital employed 31.7%, operating margin 18.8%, net margin 17.6%.

How much debt does Cummins India Ltd. have?

Cummins India Ltd. is debt-free: debt to equity is 0.00 with borrowings of ₹0 cr against cash of ₹166 cr (balance sheet of 2026-09-30). Operating profit covers interest 186.5 times.

Financials parsed from Cummins India Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from JUN '19, annual from FY20, balance sheet from Mar '15. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.