Cummins India

Cummins India Limited is a leading manufacturer of diesel engines and auto components. Founded in 1962, Cummins India is a part of the Cummins Group, which is a global conglomerate in manufacturing of diesel and alternative fuel engines and generators, and related technology.

The company serves customers across industries including construction, mining, marine, rail, oil and gas, defence and power. The company’s Automobile business division provides technologies such as filtration, exhaust, turbo technologies, fuel systems and lubrication for commercial vehicles. The company carries out its distribution business under the brand name Cummins Sales and Service. The company provides products, packages, services and solutions for Cummins equipment under its distribution division.

The market capitalisation of Cummins India stood at nearly ₹60,000 crore as of January 27, 2024. Cummins India share price has surged more than 250% in the last three years.

Cummins India business operation

Cummins India Limited operates in primarily three business verticals- engine, power systems and auto ancillaries. Cummins India is into the business of designing, manufacturing and distribution of Diesel and alternative fuel engines ranging 2.8 to 95 litres. Other products include diesel and alternative fuel powered generator sets up to 3,000 KW (3750 KVA). The Company is also into manufacturing of related component products for both the above main products.

Cummins India serves customers through its 21 manufacturing plants and 3 Generator Original Equipment Manufacturers (GOEMs). It also has 21 dealerships and more than 120 dealership branch offices across India.

The company, through its 480 touchpoints, supports over 5,25,000 engines serving over 2,00,000 customers across various markets in India, Nepal and Bhutan predominantly in the off-highway sector. Over the years, the company has diversified into manufacturing of diesel and natural gas engines, hybrid engines and generator sets. The company has a presence in 190 countries across the globe and it’s a leading exporter in this segment. The company exports its products to various countries worldwide with the United States, Europe, Mexico, Africa, Middle East and China being the major markets. Cummins India has collaborated with Tata Motors to offer solutions for Hydrogen powered commercial vehicles including hydrogen-powered internal combustion engines, fuel cells and battery electric vehicle systems.
In FY 2022-23, the company introduced gensets fit for the Low Horsepower (LHP) rental segment. It also achieved record sales driven by LHP products, powergen and industrial engines exports. The company also launched a new series of fit-for-market gensets powered by B3.3, 6B, QSB7 and QSL9 engines for unregulated markets.

Financial Highlights

The company’s consolidated revenue from operations in FY23 stood at ₹7,772 crore in FY23, up 26% year-on-year compared to ₹6,171 crore in FY22. The company reported profit after tax (PAT) at ₹1,228.15 crore in FY23, 32% higher year-on-year compared to ₹933.74 crore in FY22. The company’s export sales grew 27% YoY to ₹ 2,050 crore in FY23 as against ₹1,610 crore in FY22. Its earnings per share (EPS) stood increased to ₹40.76 in FY23 compared to ₹31.99 in FY22.