Cummins India Q3: Earnings Miss Estimates Despite Margin Growth; Interim Dividend Declared

Cummins | Kotak Securities recommends buying the stock at a price of ₹3,933 for a price target of ₹4,400 until the next Diwali. The brokerage said the company has penetrated new markets and raised its new offerings in FY25. Cummins has meaningful scope for growing its distribution business over time. Majority of end-user segments in powergen are on a strong growth trajectory, the brokerage wrote in its note.

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CNBC TV18•04-02-2026, 20:54

Cummins India Q3: Earnings Miss Estimates Despite Margin Growth; Interim Dividend Declared

•Cummins India reported Q3 net profit of ₹453 crore, missing CNBC-TV18 poll estimate of ₹594 crore and down 11.9% year-on-year.
•Revenue marginally slipped 1% year-on-year to ₹3,055 crore, falling short of the ₹3,210.5 crore estimate.
•EBITDA increased 5.7% year-on-year to ₹635.4 crore, but also missed the poll estimate of ₹670.4 crore.
•Operating margin (EBITDA margin) improved to 20.8% from 19.5% last year, aligning with Street expectations.
•The board declared an interim dividend of ₹20 per equity share (1,000%) for FY26, with February 11, 2026, as the record date.

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