Cummins India Ltd. tanked as much as 10% to get stuck in lower circuit after Q2 profit and margins fell sharply. The shares fell to a low of 4031.20 apiece on the NSE.
The shares fell further to trade 11.6% lower at Rs 4,188 apiece by 10 a.m., as against a 1.79% advance in the benchmark Nifty index.
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Cummins India Q2 FY27 Highlights
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Cummins India reported a mixed set of Q2 consolidated results, with revenue rising modestly but profitability declining sharply on a year-on-year basis.
Revenue increased 4.1% to Rs 3,301 crore from Rs 3,170 crore a year earlier. However, net profit fell 18.5% to Rs 507 crore from Rs 622 crore, while EBITDA declined 27.1% to Rs 506 crore from Rs 695 crore. The company's EBITDA margin contracted significantly to 15.3% from 21.9% in the corresponding quarter last year, indicating pressure on operating profitability despite revenue growth.
Brokerage Takes
Citi: Maintain Buy; TP at Rs 6,325.
- Data centres, manufacturing, real estate and distribution support steady domestic demand.
- Management expects pricing benefits to progressively offset commodity and freight inflation.
- Geopolitical uncertainty, product mix and supply-chain costs remain key risks to margin recovery.
Nomura: Maintain Neutral; cut TP to Rs 5,112 from Rs 6,000.
- Data centres, manufacturing, real estate and distribution support a steady demand outlook.
- Commodity and freight inflation could delay margin recovery despite pricing actions.
- Cuts FY27–29 EPS estimates by 4–9% as profitability recovery is expected to be slower.
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