Cummins India Ltd
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]
- Market Cap ₹ 93,807 Cr.
- Current Price ₹ 3,384
- High / Low ₹ 4,172 / 2,580
- Stock P/E 49.2
- Book Value ₹ 253
- Dividend Yield 1.52 %
- ROCE 37.7 %
- ROE 28.9 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 25.0% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 26.5%
- Company has been maintaining a healthy dividend payout of 66.6%
Cons
- Stock is trading at 13.4 times its book value
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Industrials Capital Goods Industrial Products Compressors, Pumps & Diesel Engines
Part of BSE 500 BSE Capital Goods BSE 100 BSE 200 Nifty 500
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
3,977 | 4,406 | 4,709 | 5,077 | 5,082 | 5,659 | 5,158 | 4,329 | 6,140 | 7,744 | 8,959 | 10,339 | |
3,280 | 3,674 | 3,934 | 4,276 | 4,345 | 4,795 | 4,567 | 3,729 | 5,260 | 6,502 | 7,197 | 8,271 | |
Operating Profit | 697 | 732 | 775 | 802 | 738 | 864 | 590 | 600 | 880 | 1,243 | 1,761 | 2,068 |
OPM % | 18% | 17% | 16% | 16% | 15% | 15% | 11% | 14% | 14% | 16% | 20% | 20% |
178 | 287 | 226 | 208 | 279 | 293 | 308 | 349 | 425 | 406 | 566 | 626 | |
Interest | 4 | 1 | 10 | 17 | 15 | 16 | 20 | 16 | 12 | 16 | 27 | 15 |
Depreciation | 53 | 80 | 81 | 85 | 94 | 110 | 119 | 126 | 134 | 140 | 158 | 183 |
Profit before tax | 818 | 937 | 910 | 908 | 908 | 1,030 | 759 | 808 | 1,159 | 1,492 | 2,143 | 2,496 |
Tax % | 27% | 16% | 17% | 19% | 22% | 30% | 17% | 24% | 24% | 24% | 23% | 24% |
600 | 786 | 754 | 735 | 708 | 723 | 629 | 618 | 887 | 1,130 | 1,661 | 1,906 | |
EPS in Rs | 21.65 | 28.35 | 27.21 | 26.50 | 25.56 | 26.07 | 22.70 | 22.29 | 31.99 | 40.76 | 59.91 | 68.75 |
Dividend Payout % | 60% | 49% | 51% | 53% | 59% | 65% | 62% | 67% | 58% | 61% | 63% | 75% |
Compounded Sales Growth | |
---|---|
10 Years: | 9% |
5 Years: | 15% |
3 Years: | 19% |
TTM: | 15% |
Compounded Profit Growth | |
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10 Years: | 11% |
5 Years: | 25% |
3 Years: | 35% |
TTM: | 18% |
Stock Price CAGR | |
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10 Years: | 14% |
5 Years: | 53% |
3 Years: | 50% |
1 Year: | -6% |
Return on Equity | |
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10 Years: | 21% |
5 Years: | 23% |
3 Years: | 27% |
Last Year: | 29% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
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Equity Capital | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 | 55 |
Reserves | 2,510 | 2,831 | 3,426 | 3,687 | 3,931 | 4,075 | 4,120 | 4,351 | 4,797 | 5,313 | 6,108 | 6,963 |
0 | 0 | 0 | 251 | 252 | 309 | 504 | 33 | 412 | 373 | 120 | 30 | |
1,208 | 1,435 | 1,009 | 1,048 | 1,294 | 1,414 | 1,275 | 1,257 | 1,540 | 1,771 | 2,215 | 2,558 | |
Total Liabilities | 3,773 | 4,322 | 4,490 | 5,041 | 5,531 | 5,854 | 5,954 | 5,697 | 6,805 | 7,512 | 8,498 | 9,606 |
919 | 1,234 | 1,289 | 1,500 | 2,019 | 2,013 | 2,264 | 2,185 | 2,204 | 2,222 | 2,295 | 2,370 | |
CWIP | 96 | 171 | 519 | 463 | 38 | 159 | 80 | 128 | 61 | 41 | 97 | 78 |
Investments | 495 | 465 | 334 | 707 | 549 | 285 | 824 | 369 | 615 | 1,085 | 1,215 | 957 |
2,262 | 2,452 | 2,348 | 2,370 | 2,925 | 3,397 | 2,786 | 3,015 | 3,925 | 4,164 | 4,891 | 6,200 | |
Total Assets | 3,773 | 4,322 | 4,490 | 5,041 | 5,531 | 5,854 | 5,954 | 5,697 | 6,805 | 7,512 | 8,498 | 9,606 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
361 | 498 | 692 | 746 | 634 | 550 | 599 | 788 | 707 | 811 | 1,280 | 1,689 | |
55 | -56 | -214 | -482 | -133 | 16 | -202 | 25 | -574 | 87 | -247 | -581 | |
-426 | -423 | -468 | -225 | -473 | -523 | -411 | -872 | -77 | -684 | -1,133 | -1,166 | |
Net Cash Flow | -9 | 19 | 10 | 39 | 29 | 43 | -14 | -60 | 56 | 214 | -100 | -58 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
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Debtor Days | 72 | 78 | 73 | 69 | 95 | 82 | 80 | 91 | 74 | 75 | 85 | 81 |
Inventory Days | 83 | 92 | 74 | 63 | 60 | 63 | 62 | 74 | 65 | 62 | 59 | 57 |
Days Payable | 73 | 81 | 69 | 68 | 85 | 83 | 75 | 96 | 89 | 80 | 89 | 87 |
Cash Conversion Cycle | 82 | 88 | 78 | 64 | 71 | 62 | 67 | 68 | 50 | 57 | 55 | 51 |
Working Capital Days | 43 | 56 | 78 | 66 | 75 | 78 | 74 | 73 | 62 | 53 | 53 | 79 |
ROCE % | 33% | 31% | 29% | 25% | 21% | 24% | 17% | 19% | 21% | 27% | 35% | 38% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
18h - Newspaper Publication - Notice to shareholders in respect of transfer of shares of the Company to Investor Education and Protection Fund (IEPF)
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
2 Jun - Transcript of Q4 and FY 2024-25 Results Conference Call
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Announcement under Regulation 30 (LODR)-Newspaper Publication
30 May - Newspaper Publication - Audited Financial Results for FY 2024-25
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Response To Clarification Sought By BSE Vide Email Dated May 30, 2025, Titled - Volume Movement Letter
30 May - Company clarifies no undisclosed price sensitive info amid unusual share volume spike.
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Clarification sought from Cummins India Ltd
30 May - Exchange has sought clarification from Cummins India Ltd on May 30, 2025, with reference to Movement in Volume.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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Jun 2025TranscriptPPT
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Feb 2025Transcript PPT
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Nov 2024Transcript PPT
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Aug 2024TranscriptPPT
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Jun 2024TranscriptPPT
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Nov 2023TranscriptPPT
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Aug 2023Transcript PPT
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May 2023TranscriptPPT
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Feb 2023TranscriptPPT
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Nov 2022TranscriptPPT
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Aug 2022Transcript PPT
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May 2022TranscriptPPT
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Feb 2022TranscriptPPT
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Nov 2021TranscriptPPT
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Aug 2021Transcript PPT
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May 2021TranscriptPPT
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Mar 2021TranscriptPPT
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Feb 2021TranscriptPPT
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Nov 2020TranscriptPPT
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Aug 2020Transcript PPT
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Jun 2020TranscriptPPT
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Apr 2020Transcript PPT
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Feb 2020TranscriptPPT
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Dec 2019TranscriptNotesPPT
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Oct 2019TranscriptPPT
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Aug 2019Transcript PPT
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Aug 2019TranscriptNotesPPT
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May 2019TranscriptPPT
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Feb 2019TranscriptPPT
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Dec 2018TranscriptPPT
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Aug 2018TranscriptPPT
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Aug 2018TranscriptPPT
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Jun 2018Transcript PPT
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Mar 2018TranscriptPPT
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Feb 2018TranscriptPPT
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Oct 2017TranscriptPPT
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Aug 2017TranscriptPPT
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Mar 2016TranscriptNotesPPT
Engines Business Division (~69% of revenues)[1]
The company's business division is divided into 4 main segments :-