Cummins India Limited (500480) Earnings Call Transcripts

Cummins India Limited's Latest Earnings Call - Q4 FY2026

Cummins India Limited reported strong financial results for Q4 and FY '25/'26, with sales increasing by 18% YoY to INR 11,950 crores. Domestic sales rose by 19%, while exports grew by 12%. Profit before tax before exceptional items increased by 24% to INR 3,104 crores. For Q4, sales were up 23% YoY to INR 2,963 crores, with domestic sales up 30% but exports down 6%. Management provided guidance for moderate growth in FY '26/'27, citing stable domestic demand but caution due to geopolitical uncertainties.

Reported metrics

Guidance from management

Management expects moderate growth across segments in FY '26/'27, with stable domestic demand but cautious due to geopolitical uncertainties.

What management said

The way we look at it, you're right, yes, the [ 95-liter ] is imported. So the India market is still largely on the 60 liter. And as the market moves, we always evaluate what is that we can do more in India. So going forward, the way we look at it and our outlook is that we continuously evaluate what more can we do in India. We like to keep our margins intact for growth.

The data center business contribution, so for the full year, the data center business would have contributed between 40% to 35% of our overall power generation domestic revenue, and for the quarter, approximately 25%.

What analysts pressed on

Analysts expressed concerns about potential margin dilution from increased data center contributions and the impact of geopolitical issues on exports. Questions also focused on the sustainability of growth in the Distribution business and the impact of commodity price inflation.

Main topics on the call

• Strong Domestic Sales Growth — Domestic sales increased by 19% YoY to INR 9,961 crores, driven by robust demand in segments like Power Generation and Distribution. Management highlighted, 'Domestic sales at INR 2,513 crores are higher by 30%.'
• Export Performance — Exports grew by 12% YoY to INR 1,989 crores, with high horsepower exports up 20%. However, Q4 exports declined by 6% YoY. Management noted, 'Exports at INR 450 crores are slightly lower by 6%.'
• Power Generation Segment Growth — Power Generation domestic sales rose by 24% YoY to INR 4,758 crores. The segment saw a 48% increase in Q4 compared to last year. Management stated, 'Power Generation domestic sales are at INR 1,294 crores, a 48% increase...
• Data Center Contribution — Data centers contributed significantly to PowerGen revenue, accounting for 35-40% of annual and 25% of Q4 revenues. Management emphasized, 'The data center business would have contributed between 40% to 35% of our overal...

Read the full Cummins India Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 25 Cummins India Limited earnings call transcripts on record, spanning January 29, 2020 to August 6, 2026. Based on this history, Cummins India Limited reports quarterly. The most recent call on file is dated August 6, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

500480

Exchange

BSE

Country

IN

Sector

Industrials

Industry

Machinery

Calls on record

25

First call

January 29, 2020

Most recent

August 6, 2026

Reporting cadence

quarterly