Cummins India Ltd
CUMMINSINDCummins India Ltd
CUMMINSIND


Price Chart
Scorecard
Performance
AvgPrice return has been average, nothing exciting
Valuation
HighSeems to be overvalued vs the market average
Growth
AvgFinancials growth has been moderate for a few years
Profitability
HighShowing good signs of profitability & efficiency
Entry point
GoodThe stock is underpriced and is not in the overbought zone
Red flags
LowNo red flag found
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Key Metrics
No LabelNo Label | PB RatioPB Ratio | Dividend YieldDiv. Yield |
---|---|---|
38.65 | 11.74 | 1.36% |
Sector PESector PE | Sector PBSector PB | Sector Div YldSctr Div Yld |
---|---|---|
40.87 | 5.89 | 0.66% |
Forecast & Ratings
Detailed Forecast from 23 analysts
Price
Price Upside
Earnings
Earnings Growth
Revenue
Rev. Growth
Company Profile
Cummins India Limited is a manufacturer of diesel and natural gas engines, generator sets and related services. The Company operates through two segments: Engines and Lubes.
Peers
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Forecasts
Price
Revenue
Earnings
Price Forecast
All values in ₹
All values in ₹
Revenue Forecast
All values in ₹ Thousand cr.
All values in ₹ Thousand cr.
Earnings Per Share Forecast
All values in ₹
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Income
Balance Sheet
Cash Flow
Income Statement
Financial Year | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | TTM | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total Revenue | 4,835.76 | 5,247.33 | 5,415.10 | 6,025.02 | 5,571.20 | 4,746.98 | 6,637.62 | 8,288.22 | 9,623.43 | 10,922.59 | ||||||||||
Raw Materials | 2,964.01 | 3,261.56 | 3,223.61 | 3,659.92 | 3,335.17 | 2,784.30 | 4,145.74 | 5,349.21 | 5,752.55 | 8,146.01 | ||||||||||
Power & Fuel Cost | 33.13 | 29.27 | 30.53 | 29.56 | 29.32 | 19.05 | 24.70 | 26.76 | 27.70 | |||||||||||
Employee Cost | 421.08 | 445.28 | 511.25 | 561.91 | 577.75 | 509.77 | 614.53 | 648.88 | 801.37 | |||||||||||
Selling & Administrative Expenses | 300.74 | 308.97 | 315.93 | 356.79 | 355.59 | 275.77 | 282.83 | 204.18 | 250.15 | |||||||||||
Operating & Other expenses | 226.27 | 256.70 | 297.66 | 220.08 | 324.29 | 189.14 | 215.06 | 309.62 | 400.47 | |||||||||||
EBITDA | 890.53 | 945.55 | 1,036.12 | 1,196.76 | 949.08 | 968.95 | 1,354.76 | 1,749.57 | 2,391.19 | 2,776.58 | ||||||||||
Depreciation/Amortization | 81.36 | 85.47 | 94.38 | 111.10 | 120.58 | 127.19 | 135.62 | 142.04 | 159.18 | 180.96 | ||||||||||
PBIT | 809.17 | 860.08 | 941.74 | 1,085.66 | 828.50 | 841.76 | 1,219.14 | 1,607.53 | 2,232.01 | 2,595.62 | ||||||||||
Interest & Other Items | 9.80 | 17.07 | 15.19 | 16.77 | 21.02 | 16.76 | 12.16 | 16.24 | 27.40 | 16.86 | ||||||||||
PBT | 799.37 | 843.01 | 926.55 | 1,068.89 | 807.48 | 825.00 | 1,206.98 | 1,591.29 | 2,204.61 | 2,578.76 | ||||||||||
Taxes & Other Items | 78.05 | 106.74 | 214.73 | 326.28 | 101.87 | 189.97 | 273.24 | 363.14 | 484.03 | 569.46 | ||||||||||
Net Income | 721.32 | 736.27 | 711.82 | 742.61 | 705.61 | 635.03 | 933.74 | 1,228.15 | 1,720.58 | 2,009.30 | ||||||||||
EPS | 26.02 | 26.56 | 25.68 | 26.79 | 25.45 | 22.91 | 33.68 | 44.31 | 62.07 | 72.49 | ||||||||||
DPS | 14.00 | 14.00 | 15.00 | 17.00 | 14.00 | 15.00 | 18.50 | 25.00 | 38.00 | 38.00 | ||||||||||
Payout ratio | 0.54 | 0.53 | 0.58 | 0.63 | 0.55 | 0.65 | 0.55 | 0.56 | 0.61 | 0.52 |
Company Updates
Peers & Comparison
IndustrialsIndustrial Machinery
Valuation
Technical
Forecast
Stock | PE RatioPE Ratio | PB RatioPB Ratio | Div. YieldDividend Yield |
---|---|---|---|
Cummins India Ltd | 45.13 | 11.74 | 1.36% |
Thermax Limited | 55.47 | 8.06 | 0.38% |
AIA Engineering Ltd | 28.94 | 4.93 | 0.46% |
Jyoti CNC Automation Ltd | 160.58 | 17.75 | — |
Price Comparison
Compare CUMMINSIND with any stock or ETFShareholdings
Promoter Holdings Trend
Total Promoter Holding
In last 6 months, promoter holding in the company has almost stayed constant
Low Pledged Promoter Holding
Pledged promoter holdings is insignificant
Institutional Holdings Trend
Total Retail Holding
In last 3 months, retail holding in the company has almost stayed constant
Foreign Institutional Holding
In last 3 months, foreign institutional holding of the company has almost stayed constant
Shareholding Pattern
Mar 2024
Jun 2024
Sep 2024
Dec 2024
Shareholding History
Mutual Funds Holding Trend
Decreased Mutual Fund Holding
In last 3 months, mutual fund holding of the company has decreased by 1.28%
Top 5 Mutual Funds holding Cummins India Ltd
Funds (Top 5) | The rupee value of the stock held by the fund divided by the stock’s market cap Market-cap held | Percentage of the fund’s portfolio invested in the stock Weight | Change in the portfolio weight of the stock over the last 3 months 3M holding change | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months Portfolio rank(3M change) |
---|---|---|---|---|
The rupee value of the stock held by the fund divided by the stock’s market cap 1.1390% | Percentage of the fund’s portfolio invested in the stock 1.20% | Change in the portfolio weight of the stock over the last 3 months -0.19% | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months 58/84 (-1) | |
The rupee value of the stock held by the fund divided by the stock’s market cap 0.6241% | Percentage of the fund’s portfolio invested in the stock 1.77% | Change in the portfolio weight of the stock over the last 3 months -0.31% | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months 22/64 (-8) | |
The rupee value of the stock held by the fund divided by the stock’s market cap 0.6087% | Percentage of the fund’s portfolio invested in the stock 0.75% | Change in the portfolio weight of the stock over the last 3 months 0.07% | The rank of the stock in the fund’s portfolio based on its weight in the portfolio along with the change in the rank over the last 3 months 28/92 (+22) |
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Events
Dividend Trend
Increasing Dividends
CUMMINSIND has increased dividends consistently over the last 5 years
Dividend Yield
Current dividend yield is 1.36%. An investment of ₹1,000 in the stock is expected to generate dividend of ₹13.57 every year
Dividends
Corp. Actions
Announcements
Legal Orders
Upcoming Dividends
No upcoming dividends are available
Past Dividends
Cash Dividend
Ex DateEx DateFeb 14, 2025
Dividend/Share
₹18.00
Ex DateEx Date
Feb 14, 2025
Cash Dividend
Ex DateEx DateJul 19, 2024
Dividend/Share
₹20.00
Ex DateEx Date
Jul 19, 2024
Cash Dividend
Ex DateEx DateFeb 21, 2024
Dividend/Share
₹18.00
Ex DateEx Date
Feb 21, 2024
Cash Dividend
Ex DateEx DateJul 26, 2023
Dividend/Share
₹13.00
Ex DateEx Date
Jul 26, 2023
Cash Dividend
Ex DateEx DateFeb 21, 2023
Dividend/Share
₹12.00
Ex DateEx Date
Feb 21, 2023
Revenue from operations was at Rs 3,041.42 crore in Q3 FY25, marking a growth of 21.56% as against Rs 2,501.81 crore reported in the same quarter last year. Profit before tax stood at Rs 670.16 crore in the third quarter of FY25, up 11.38% from Rs 601.65 crore posted in the corresponding quarter previous fiscal. Domestic sales jumped 18% YoY to Rs 2,577 crore while exports grew by 43% YoY to Rs 464 crore during the period under review. Shveta Arya, Managing Director, Cummins India, said: 'While inflation is easing in most countries, there is still uncertainty in different regions globally, leading to an overall subdued outlook. US policy is expected to have a significant impact on the global economy in the years ahead. Amidst the uncertainties in various global economies, the Indian economy is recovering well after slower growth in Q2 FY25. GST collections continue to remain strong, indicating robust underlying trade activities, while other key economic indicators like IIP, PMI are pointing to a reasonable economic outlook for the year. Cummins India Limited continues to execute its profitable growth strategy and has recorded the highest quarterly revenue as a result of the robust demand across segments.' In its outlook, the company said it has a strong portfolio of CPCB IV+ emission norms-compliant products to meet customer demand across the entire product range. With the adoption of new generation emission norms, we remain cautiously optimistic about the demand outlook for the near-term and optimistic about the long-term growth prospects. Regarding exports, the company continues to work closely with its trade partners to drive growth in respective end markets. With its diversified portfolio of products, the company remains optimistic about the recovery in export demand. The company has access to the latest technology, a trusted brand, wide range of incredible products, world-class manufacturing capabilities, best-in-class talent, and a customer-centric service organization with an extensive distribution and service network throughout the country and neighboring regions. The company is wellpositioned with a strong balance sheet and liquidity position to support profitable growth. Meanwhile, the company's board has declared an interim dividend of Rs 18 per equity share for the financial year 2024-2025. The record date fixed for the payment of the interim dividend is 14 February 2025. The date fixed for payment of dividends is on or before March 3, 2025. Cummins India is a leading manufacturer of diesel and natural gas engines. The company is engaged in the business of manufacturing, trading, and selling engines and allied activities.Powered by Capital Market - Live
Net profit of Cummins India rose 11.94% to Rs 558.46 crore in the quarter ended December 2024 as against Rs 498.91 crore during the previous quarter ended December 2023. Sales rose 21.61% to Rs 3052.15 crore in the quarter ended December 2024 as against Rs 2509.79 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales3052.152509.79 22 OPM %19.5821.62 - PBDT762.87690.75 10 PBT713.59648.46 10 NP558.46498.91 12 Powered by Capital Market - Live
Cummins India announced that the Board of Directors of the Company at its meeting held on 5 February 2025, inter alia, have recommended the interim dividend of Rs 18 per equity Share (i.e. 900%) , subject to the approval of the shareholders.Powered by Capital Market - Live
Cummins India has fixed 14 February 2025 as record date for interim dividend. The dividend will be paid by 03 March 2025. Powered by Capital Market - Live
Cummins India will hold a meeting of the Board of Directors of the Company on 5 February 2025.Powered by Capital Market - Live
Prasad Kulkarni, a seasoned finance professional currently holding the position of finance controller for the company's distribution business as of date, will take charge as the interim CFO of the company. Prasad Kulkarni, aged 44, is a postgraduate in commerce, qualified Chartered Accountant, and CISA from ICASA USA and has also completed an Executive MBA. Kulkarni has 21 and more years of diverse experience in domains such as financial planning and analysis, consolidations, technical accounting, auditing, project management, corporate governance, capital market transactions, and cross-border deals. He has been with Cummins India Limited since July 2014 and is currently serving the company as the finance controller for the distribution business. Prior to joining Cummins, Kulkarni worked in consulting, wherein he was involved in various audits of large MNCs and banks, compliance and governance, corporate restructuring, and capital market transactions such as FCCBs, QIPs, etc. Cummins India is a leading manufacturer of diesel and natural gas engines. The company is engaged in the business of manufacturing, trading, and selling engines and allied activities. The company's standalone net profit jumped 37.16% to Rs 450.61 crore in Q2 FY25 as against Rs 328.51 crore posted in Q2 FY24. Revenue from operations was at Rs 2,448.40 crore in Q2 FY25, marking a growth of 30.82% as against Rs 1871.45 crore reported in the same quarter last year. Shares of Cummins India fell 2.24% to currently trade at Rs 3,449 on the BSE.Powered by Capital Market - Live
Cummins India unveiled its advanced range of Aftermarket Solutions for back-up power gensets, construction and mining segments at the 7th edition of baumaCONEXPO India 2024. The newly unveiled solutions include DATUM S - an extension to the innovative fuel management solutions from Cummins India, OptiNAS+ Hydraulic Oil Filter, and DG Blue Diesel Exhaust Fluid for CPCBIV+ gensets. These solutions have been developed to help customers endure the tough and demanding conditions of construction and mining operations while fully complying with the strict emission standards.Powered by Capital Market - Live
Cummins India announced the resignation of Ajay Shriram Patil as Chief Financial Officer of the company with effect from 09 January 2025. Powered by Capital Market - Live
Revenue from operations was at Rs 2,448.40 crore in Q2 FY25, marking a growth of 30.82% as against Rs 1871.45 crore reported in the same quarter last year. Profit before tax stood at Rs 594.38 crore in second quarter of FY25, up 39.49% from Rs 426.29 crore posted in corresponding quarter previous fiscal. Domestic sales jumped 47% YoY to Rs 2,008 crore while exports slipped 13% YoY to Rs 440 crore during the period under review. Ashwath Ram, MD, Cummins India, said, 'Indian economy continues to remain resilient despite increasingly intense geopolitical conflicts. GST collections continue to remain strong, indicating robust underlying trade activities, while other key economic indicators like IIP, PMI are pointing to a reasonable economic outlook for the year. With stable fiscal and monetary policies, the Government's continued emphasis on infrastructure development, and PLI-led capex, the Indian economy is on course for growth in the range of 6.8% to 7.2%, according to various estimates. Cummins India Limited continues to execute its profitable growth strategy and is well-positioned to meet the demands of its end markets. At the same time, internationally, geopolitical risks and conflicts continue to pose uncertainty about global trade and supply chain disruptions. Effective July 1, 2024, with a complete transition to CPCB IV+ emission norms for the applicable products, the company is well-positioned and had all its products certified well ahead of the time.' On outlook front, the company stated, the company has a strong portfolio of CPCB IV+ emission norms-compliant products to meet customer demand across the entire product range. With the transition to new emission norms, we remain cautiously optimistic about the demand outlook for the near term and optimistic about the long-term growth prospects. Regarding exports, the company continues to work closely with its trade partners to drive growth in respective end markets. We remain cautiously optimistic about the export demand recovery as the economic and geopolitical events have impacted the end markets. With its diversified portfolio of products, company remains optimistic about the recovery in exports demand. The company has access to latest technology, a trusted brand, wide range of incredible products, world-class manufacturing capabilities, best-in-class talent, and a customer-centric service organization with an extensive distribution and service network throughout the country and neighboring regions. The company is well positioned with a strong balance sheet and liquidity position to support profitable growth. Meanwhile, the board has approved to seek approval of the members of the company for appointment of Cornelius O'Sullivan as a director of the company with effect from 8 November 2024. Cummins India is a leading manufacturer of diesel and natural gas engines. The Company is engaged in the business of manufacturing trading and selling of engines and allied activities.Powered by Capital Market - Live
Net profit of Cummins India rose 36.55% to Rs 449.37 crore in the quarter ended September 2024 as against Rs 329.09 crore during the previous quarter ended September 2023. Sales rose 30.18% to Rs 2465.09 crore in the quarter ended September 2024 as against Rs 1893.63 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales2465.091893.63 30 OPM %19.6318.28 - PBDT638.80466.94 37 PBT593.84428.68 39 NP449.37329.09 37 Powered by Capital Market - Live
Lower than Industry Revenue Growth
Over the last 5 years, revenue has grown at a yearly rate of 9.82%, vs industry avg of 10.61%
Decreasing Market Share
Over the last 5 years, market share decreased from 8.72% to 7.82%
Lower than Industry Net Income
Over the last 5 years, net income has grown at a yearly rate of 18.3%, vs industry avg of 23.22%