Arthneeti

Cummins India Q1 FY27 Share Price & Earnings Call Analysis

₹4,452.60-1.39% today
Market cap
₹1.23L Cr
P/E
50.60
ROE
30.24%
PEG
1.92
Price to sales
9.74
Debt to equity
0.00
52W high / low
₹6,028 / ₹3,928
Sales growth (5Y)
22.73%
EBITDA margin
20.44%
Net profit margin
19.97%
Promoter holding
51.00%
Sales (last year)
₹12,662 Cr

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]

Guidance scorecard · Q1 FY27 call

What Cummins India's management guided
and where it ranks in Industrial Products

#87of 100 in
Industrial Products
Revenue10–20%MarginsUp 0–2%CapexPlannedFundraisingWhat management saidOrder bookRising

RevenueQ1 FY27 call

10–20%
  • Power generation domestic market is expected to see strong growth driven by manufacturing, data centers, residential and commercial realty demand.
  • Volume growth in power gen non-HHP segment has scope for further improvement.
  • Distribution business (DBU) has potential to sustain mid-teens to 20% CAGR over the coming years.
  • Industrial segment shows strong momentum in railways (power cars, diesel electric tower cars) with good order book and execution; construction remains flat with no new national highway tenders.
  • Mining segment shows improvement with more tenders, especially coal mines.
  • Exports expected to grow but with quarter-on-quarter variability; major growth in Europe and Asia Pacific.

2 more points from Cummins India's call on revenue

Create a free account to keep reading this call

Full Q1 FY27 analysis

MarginsQ1 FY27 call

Up 0–2%

See what Cummins India said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Utilization levels are between 70% to 75%, consistently increasing.
  • Capital investment is continuing in line with the last few years' investments in existing plants.
  • Evaluation ongoing.
  • Focus remains on operational efficiency, cost management, and supply chain resilience amid inflation and supply challenges.
Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Ask what Cummins India said on fundraising →

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Rising
  • The data center inquiry pipeline remains very strong with continued momentum from previous quarters.
  • Despite strong demand, there are some supply constraints impacting the power generation segment, especially in higher horsepower engines where demand outpaces supply.
  • The company is actively increasing capacity at key nodes to cater to this demand.

2 more points from Cummins India's call on the order book

Create a free account to keep reading this call

Full Q1 FY27 analysis
Full Industrial Products ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Industrial Products
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Cummins India rank?

Portfolio builder

Build your portfolio
from the top-ranked stocks

  1. 1. Pick 3–15 stocks
  2. 2. Choose large, mid or small cap and your sectors
  3. 3. Get a portfolio built from the rankings
Build my portfolio

Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Industrial Products companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹532 Cr21.2
240%+Up 2%+₹450 Cr13.2
340%+Up 2%+₹371 Cr26.1
440%+Up 0–2%₹1,340 Cr32.9
540%+Up 0–2%₹1,196 Cr14.1
640%+Flat₹966 Cr25.0

Sign up free to see every company in the sector ranking and track Cummins India.

Pro shows every company guiding 40%+ revenue growth →Full Industrial Products ranking

Financials of Cummins India

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Cummins India

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +1,9342,2181,9222,5412,3192,3162,5093,0962,4702,9073,1703,0553,011
Expenses +1,6041,8761,5751,9991,7811,8422,0252,4991,9452,2832,4752,4202,369
Operating Profit330342346543539473484598525624695634642
OPM %17%15%18%21%23%20%19%19%21%21%22%21%21%
Other Income +15915512815318617115716821721218146263
Interest7876653353352
Depreciation38363842424445494648495051
Profit before tax444453429647676595594714690785824626852
Tax %21%22%23%23%20%22%24%22%23%23%24%22%24%
Net Profit +349354329499539463449558530604622486649
EPS in Rs12.5912.7611.8718.0019.4416.6916.2120.1519.1021.7922.4517.5323.43

Financials of Cummins India

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +4,9164,7205,1065,1125,6975,1914,3606,1717,7729,00010,39112,143
Expenses +4,1013,9454,3024,3744,8284,5983,7575,2886,5247,2318,3119,548
Operating Profit8157758057388695936038831,2481,7702,0802,595
OPM %17%16%16%14%15%11%14%14%16%20%20%21%
Other Income +208116141298328356366472502622714702
Interest21017151721171216271612
Depreciation86818594111121127136142159185199
Profit before tax9357998439271,0698078251,2071,5912,2052,5933,086
Tax %19%21%22%23%31%13%23%23%23%22%23%23%
Net Profit +7727217367127437066359341,2281,7212,0002,362
EPS in Rs27.8526.0226.5625.6826.7925.4522.9133.6844.3162.0772.1585.20
Dividend Payout %50%54%53%58%63%55%65%55%56%61%71%77%

Financials of Cummins India

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital555555555555555555555555
Reserves3,0333,5533,8164,0634,2284,3474,5965,0905,7036,5577,5068,420
Borrowings +33252257313512404183761273037
Other Liabilities +1,5081,0511,0911,3391,4651,2821,2651,5491,7842,2312,5772,793
Total Liabilities4,5994,6625,2145,7156,0606,1965,9567,1127,9198,97110,16811,304
Fixed Assets +1,3071,2911,5022,0212,0152,2702,1892,2092,2262,3022,3642,404
CWIP17151946339159801286141978577
Investments5364898627084681,0385998921,4571,6421,4822,153
Other Assets +2,5852,3642,3872,9473,4182,8093,0413,9514,1944,9306,2386,670
Total Assets4,5994,6625,2145,7156,0606,1965,9567,1127,9198,97110,16811,304

Financials of Cummins India

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +5896967486325536017897128201,2851,685
Cash from Investing Activity +-146-215-483-13415-20225-57487-248-580
Cash from Financing Activity +-444-471-226-470-525-412-873-82-687-1,134-1,168
Net Cash Flow-110392843-14-6056219-97-63
Free Cash Flow2512055165402793646757826651,0031,455
CFO/OP98%112%116%110%91%129%145%109%94%101%108%

Financials of Cummins India

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days737369968281917475858083
Inventory Days897563616462756663605656
Days Payable796968858375978981898779
Cash Conversion Cycle837965716368695158564960
Working Capital Days547849575940723936484699
ROCE %24%22%21%24%18%17%21%27%35%36%40%

Guidance history

How Cummins India's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%Up 0–2%Planned—Rising
Q3 FY26 call →10–20%FlatPlanned——
Q2 FY26 call →10–20%Flat———

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

21out of 100

Momentum score · price trend

21 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+1.6%62%
Last 6 months−15.5%29%
Last 3 months−19.3%23%

The price is 26.1% below its all-time high of ₹6,027.5 (27 May 2026). Stocks more than 20% below their peak have their score halved, so 41 became 21.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Cummins India: 0.4 × 62 + 0.4 × 29 + 0.2 × 23 = 41, halved to 21 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Cummins India's management said in earlier quarters

Others in Industrial Products this season

  • Captain Polyplast Ltd (Q2 FY27)

    32.9% increase . Key results statement takeaways from Captain Polyplast Ltd's Q2 FY27 results statement — and how it ranks against sector peers.

  • Shyam Metalics & Energy Ltd (Q2 FY27)

    Q2 FY27 Revenue:** ₹5,960.2 crore, up 33.4% YoY (Page 38) . Key investor presentation takeaways from Shyam Metalics & Energy Ltd's Q2 FY27 investor presentation

  • Ratnaveer Precision Engineering Ltd (Q2 FY27)

    Q2 FY27 Revenue: ₹3,872.37 million . Key investor presentation takeaways from Ratnaveer Precision Engineering Ltd's Q2 FY27 investor presentation — and how it r

  • HEG Advanced Materials Ltd (Q2 FY27)

    For the quarter ended September 30, 2026, HEG Limited reported total revenue from operations of ₹1,520.64 crores. Key results statement takeaways from HEG Advan

Compare:vs Polycab Indiavs Welspun Corp Ltdvs APL Apollo Tubes Ltd