Here is a data-driven look at Cummins India Ltd. (CUMMINSIND), covering financial performance, valuation, and shareholding trends.
Cummins India Revenue Trend
Cummins India Ltd. managed to grow its top line 15.6% in FY2025, with revenue hitting ₹10,838 Cr.
On a 10-year view, revenue grew at 9.4% per year from ₹4,406 Cr to ₹10,838 Cr. Respectable, though not in the high-growth bracket.
At ₹10,838 Cr in annual revenue, Cummins India Ltd. is one of the major players in the diesel engines space.
The consistency stands out: 4 consecutive years of growth in top-line revenue.
| Year | Revenue | YoY % |
|---|---|---|
| FY2025 | ₹10,838 Cr | +15.6% |
| FY2024 | ₹9,378 Cr | +16.1% |
| FY2023 | ₹8,080 Cr | +26.0% |
| FY2022 | ₹6,414 Cr | +38.4% |
| FY2021 | ₹4,634 Cr | — |
View Cummins India Ltd.'s full 10-year revenue trend with CAGR analysis →
Cummins India Profitability
A 16.2% improvement in net profit took Cummins India Ltd.'s bottom line to ₹2,000 Cr in FY2025.
Margins stayed in a tight range, with net profit margin at 18.5% in FY2025.
Diluted EPS came in at ₹72.15 for FY2025, up from ₹62.07 a year earlier.
Is Cummins India Undervalued
Per the P/E Ratio model, Cummins India Ltd. has an estimated intrinsic value of ₹3,262 (42.7% downside).
Cummins India Ltd. shares are currently trading at ₹5,692.50.
Craytheon also calculates intrinsic value using the EPS Growth and DCF models. The full breakdown with assumptions is available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹3,262 | 42.7% downside to fair value |
| EPS Growth | Upgrade | Upgrade |
| DCF | Upgrade | Upgrade |
See all valuation models for Cummins India Ltd. with detailed assumptions →
Cummins India Shareholding Pattern
Promoter holding has remained stable at 51.0% over the past 4 quarters, indicating confidence in the company's direction.
FII holding stands at 20.8%, up from 17.5% in the year-ago quarter.
The DII stake stands at 19.6% as of March 2026, versus 22.6% in the year-ago period.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Mar 2026 | 51.0% | 20.8% | 19.6% | 8.7% |
| Dec 2025 | 51.0% | 19.4% | 20.7% | 8.9% |
| Sep 2025 | 51.0% | 18.4% | 21.8% | 8.8% |
| Jun 2025 | 51.0% | 17.5% | 22.6% | 8.9% |
Track quarterly shareholding changes for Cummins India Ltd. →
Cummins India Balance Sheet
Proportional view as of 3 Jun 2026. Hover blocks for details.
Assets
Liabilities & Equity
FY2025 total assets: ₹101.68B (up 13.4% YoY from ₹89.71B).
Top categories: Other Assets (36.4%), Receivables (22.4%), Property, Plant & Equipment (13.1%).
Of the ₹101.68B in liabilities and equity, 74.4% is shareholder equity, 0.3% is interest-bearing debt, and 25.3% is operating liabilities. Over the year, debt is down 76.6% and equity is up 14.4%.
Balance sheet composition — FY 2025
| Category | Value |
|---|---|
| Cash & ST Investments | 11.67B |
| Receivables | 22.78B |
| Inventories | 10.04B |
| Property, Plant & Equipment | 13.31B |
| Investments | 5.50B |
| Intangibles & Goodwill | 1.36B |
| Other Assets | 37.03B |
| Category | Value |
|---|---|
| Equity | 75.61B |
| Short-term Debt | 92.40M |
| Long-term Debt | 204.20M |
| Trade Payables | 15.67B |
| Other Liabilities | 10.10B |
Cummins India Stock Analysis
Bringing the key threads together for Cummins India Ltd. (CUMMINSIND) as a diesel engines investment opportunity.
Revenue of ₹10,838 Cr in FY2025, up 15.6% year-over-year.
Long-term revenue has been compounding at 9.4% annually over 10 years.
The company is profitable, with a net margin of 18.5% and net income of ₹2,000 Cr.
The P/E Ratio model implies 42.7% downside to fair value from the current price. The remaining two models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
Unlock Full Analysis
See the full picture — Craytheon tracks 10 years of financial data with interactive charts, growth trends, and three valuation models for Cummins India Ltd..