C

Cummins India Ltd.

CUMMINSINDNSE
Market snapshot · 2026-08-10 19:48 UTC

5,448.00

+₹22.00 (+0.41%)

MARKET CAP

₹1.51L Cr

STOCK P/E

64.0x

52W HIGH

₹6,100.00

52W LOW

₹3,729.50

BOOK VALUE

₹305.74

EPS

₹85.19

ROE

SECTOR

Industrials

DEBT/EQUITY

0.43

VOLUME

2.26L

P/B RATIO

17.82x

PEG RATIO

70.77

Sector

Industrials

Themes

Industrial MachineryDieselData Center
D
Dividend
E
Earnings
₹5,832.62₹5,308.56₹4,784.50₹4,260.44₹3,736.38VolumeEEDEDEAug '25Sep '25Nov '25Jan '26Mar '26Apr '26Jun '26Aug '26

AI Summary

✦ Clartha

Cummins India is an industrial machinery company making engines, generator sets, and related power technologies. Engines drive core revenue through industrial, automotive, hydrogen, natural-gas, fire-pump, and G-drive applications. Lubes, components, aftertreatment systems, and service centers support recurring aftermarket revenue. Q1 FY27 delivered 16.9% revenue growth and 18.1% profit growth, though one-time items and leadership changes complicate underlying comparisons. Margins remained stable, indicating growth has not yet translated into operating leverage. ROE is unavailable, while debt/equity of 0.43 implies moderate leverage and potential amplification of shareholder returns and risks. At 63.7x earnings, the shares appear rich relative to the 16.9% revenue-growth rate. Positive sentiment reflects sustained power-demand opportunities, but valuation leaves limited room for execution delays, margin pressure, or weaker industrial investment.

Forecast

Analyst targets, estimate history, and probabilistic forward ranges for CUMMINSIND.

22.00 analysts

Price Forecast

Current
₹5,448
High Target
₹7,096
▲ +30.2%
Median Target
₹6,066
▲ +11.3%
Low Target
₹3,500
▼ -35.8%
Now₹5,448High ₹7,096Median ₹6,066Low ₹3,500Aug '25Now12M Target
Price history (1Y)
Analyst target range
22 analysts

Probabilistic Range

Probabilistic lognormal cone using 1Y realized volatility and analyst-target drift when available.

Time horizonRange ()Probability
3M₹4,725 - ₹6,74380%
6M₹4,547 - ₹7,52080%
12M₹4,398 - ₹8,95880%
Realized vol: +27.8% · Drift: +18.0%

Revenue Forecast

₹ Cr
Jun '26Current₹3,426.0
Sep 2026 ETrend estimate range
High₹3,873.2Base₹3,586.3Low₹3,299.4
Sep '25: ₹3,170.0 · Dec '25: ₹3,055.0 · Mar '26: ₹3,011.0 · Jun '26: ₹3,426.0 · Sep '26: ₹3,586.3 · Dec '26: ₹3,456.2
Sep '25Dec '25Mar '26Jun '26Sep '26 EDec '26 E3,170.03,055.03,011.03,426.03,586.33,456.2
PastCurrentTrend estimate: Low / Base / High

EPS Forecast

₹ / share
Jun '26Current₹19.59
Sep 2026 ETrend estimate range
High₹26.19Base₹23.38Low₹20.58
Sep '25: ₹23.00 · Dec '25: ₹16.35 · Mar '26: ₹23.45 · Jun '26: ₹19.59 · Sep '26: ₹23.38 · Dec '26: ₹16.62
Sep '25Dec '25Mar '26Jun '26Sep '26 EDec '26 E23.0016.3523.4519.5923.3816.62
PastCurrentTrend estimate: Low / Base / High
Market Intelligence

Multi-factor synthesis of 5 key dimensions

Overall Outlook
Mixed
46%
Analyst Consensus
Weakening

From 22 analysts

Mean upside+8.4%

Fundamentals

Moderate

Fundamentals institutional score is 51 using growth durability 51.1.

Valuation

Premium valuation

Valuation institutional score is 19 using relative multiple z-scores where peer dispersion is available.

Analyst Consensus

Weakening

Analyst View institutional score is 44 using mean target upside 8.4%; dispersion penalty 24.4; recommendation breadth from available consensus.

Technical Structure

Mixed Momentum

Technicals institutional score is 67 using EMA-20 continuation within 5% tolerance; VCP range/volume contraction proxy.

Market Sentiment

Neutral backdrop

Recent news flow is balanced or not decisive enough to tilt the tape. Based on 9 recent ticker-linked news items.

Signal Summary

Market intelligence remains Mixed. technical structure provide support, while fundamentals and valuation remain considerations.

Composite weights: Fundamentals 25%, Valuation 20%, Analyst Consensus 20%, Technical Structure 20%, Market Sentiment 15%.

Fundamentals ModerateValuation Premium valuationAnalyst Consensus WeakeningTechnical Structure Mixed MomentumMarket Sentiment Neutral backdrop

Key Data Points

Mean Target Price5,903 target
Mean Upside+8.4%
Technical Score67%
Fundamental Score51%
Data CoverageHigh

Important Note: This is market intelligence, not investment advice. Always conduct your own research and consider your financial goals and risk tolerance.

Valuation Metrics

Trading 56.4% above historical median. Valuation is rising — currently in the strongly overvalued zone (z-score: +1.81). Confidence: 68%.

Live forward EPS implies next-12-month EPS of ₹118.04. Applying the stock's normalized valuation corridor produces a fair range of ₹3,843.38 to ₹5,582.11, with base value near ₹4,806.59 (-11.8% vs current price).

Forward Valuation Outlook

Live forward estimate anchored to the company's historical valuation corridor.

Inside normalized range

Forward EPS

₹118.04

Forward P/E

46.1x

Base Fair Value

₹4,806.59

Fair Range

₹3,843.38 - ₹5,582.11

Upside To Base

-11.8%

Estimate Source

Live forward EPS

Growth Estimate

+0.9%

P/E
Strongly Overvalued

5Y Average

31.06

Current

63.69

Overvalued

47.29

Undervalued

32.56

EV/EBITDA
Strongly Overvalued

5Y Average

25.94

Current

53.40

Overvalued

36.37

Undervalued

13.04

P/B
Strongly Overvalued

5Y Average

15.45

Current

17.82

Overvalued

17.81

Undervalued

13.85

Peers & Comparison

Sector: Industrials · Theme: Industrial Machinery

Industrial Machinery Peers5 peers
Avg P/E: 61.1x
CompanyRev. GrowthMarginP/Evs Avg52W Perf.
THERMAX LTD
THERMAXIndustrial Machinery
+7.1%5.5%
76.8x
Premium
+26% vs avg
+24.0%
KIRLOSKAR OIL ENG LTD
KIRLOSENGIndustrial Machinery
+13.4%6.9%
54.5x
Fair
-11% vs avg
+137.0%
HINDUSTAN AERONAUTICS LTD
HALIndustrial Machinery
+1.8%27.5%
36.1x
Undervalued
-41% vs avg
+10.5%
AIA ENGINEERING LIMITED
AIAENGIndustrial Machinery
+9.4%28.7%
35.2x
Undervalued
-42% vs avg
+53.4%
ABB INDIA LIMITED
ABBHeavy Electrical Equipments
+12.1%21.3%
102.7x
Premium
+68% vs avg
+50.6%
WHY THESE PEERS

CUMMINS INDIA LTD trades in line with peers (64.0x vs avg 61.1x), reflecting a fair valuation within the Industrial Machinery cohort. Peers include THERMAX LTD, KIRLOSKAR OIL ENG LTD, HINDUSTAN AERONAUTICS LTD — selected based on business model, industry classification, market cap similarity, and business theme alignment.

Financials

Real statement data for revenue, earnings quality, conversion, and balance-sheet coverage. Monetary values are shown in Rs crore.

Latest revenue

₹3.43K CrJun 2026

Latest net profit

₹543 CrJun 2026

Latest EPS

₹19.59Jun 2026

Net margin

18.0%Jun 2026

Performance

Bars show revenue and net profit. The line shows net margin.

Rs crore + margin %
Q1 '26Q2 '26Q3 '26Q4 '26Q1 '270.0%6.0%12.0%18.0%24.0%0.00 Cr900 Cr1.80K Cr2.70K Cr3.60K Cr
  • Revenue
  • Net income
  • Net margin %

Earnings

Revenue is shown in crores. EPS is rupees per share.

Rs crore + Rs/share
Q1 '26Q2 '26Q3 '26Q4 '26Q1 '270.00 Cr900 Cr1.80K Cr2.70K Cr3.60K Cr₹0₹6₹12₹18₹24
  • Revenue
  • EPS

Revenue to profit conversion

Bridge from operating numbers to profit for the latest reported period.

Rs crore
RevenueExpensesDepreciationOtheradjustmentsOperatingprofitOther incomeInterestOtheradjustmentsProfitbefore taxTax & otherNet Profit0.00 Cr900 Cr1.80K Cr2.70K Cr3.60K Cr

Latest reported period: Jun 2026

Debt level and coverage

Debt, cash and free cash flow compared on the same crore scale.

Rs crore
Annual view
Mar 2022Mar 2023Mar 2024Mar 2025Mar 20260.00 Cr3.00K Cr6.00K Cr9.00K Cr12.00K Cr
  • Debt
  • Free cash flow
  • Cash & equivalents

Results

MetricJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales +2,2091,9002,5342,3162,3042,4923,0862,4572,9073,1703,0553,0113,426
Expenses +1,8681,5611,9961,7721,8372,0112,4861,9372,2832,4752,4202,3692,810
Operating Profit341339538544467481600520624695634642616
OPM %15%18%21%24%20%19%19%21%21%22%21%21%18%
Other Income +11713211220413216112121219719613264161
Interest8766533533524
Depreciation36384242444548464849505153
Profit before tax415426602701551594670681770839593852721
Tax %24%23%24%20%24%24%23%23%23%24%24%24%25%
Net Profit +316329455562420451514521589638453650543
EPS in Rs11.3911.8516.4120.2615.1416.2618.5418.8121.2623.0016.3523.4519.59
Raw PDF

All values in ₹ Crores unless otherwise stated. Source: Screener Master (Standalone).

Shareholding Pattern

HolderJun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters +51.00%51.00%51.00%51.00%51.00%
FIIs +17.50%18.35%19.42%20.77%21.19%
DIIs +22.53%21.73%20.60%19.43%19.06%
Government +0.10%0.10%0.10%0.10%0.10%
Public +8.86%8.82%8.87%8.68%8.65%
Others0.01%0.01%0.02%
Jun 2026
Promoters +
FIIs +
DIIs +
Government +
Public +

Events Timeline

Annual Report FY26

FY2026PDFCompany Reports Open

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

Aug 07, 2026PDFCompany Reports Open

Shareholder Meeting / Postal Ballot-Outcome of AGM

Aug 07, 2026PDFCompany Reports Open

Announcement under Regulation 30 (LODR)-Newspaper Publication

Aug 07, 2026PDFCompany Reports Open

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome

Aug 06, 2026PDFCompany Reports Open