Cummins India (500480) Q4 25/26 earnings summary

Executive summary

• FY 2026 sales rose 18% year-over-year to INR 11,950 crores, with domestic sales up 19% and exports up 12%.

• Achieved record revenue and profitability for FY26, driven by strong domestic and export demand.

• Profit before tax before exceptional items increased 24% to INR 3,104 crores; after exceptional items, up 22% to INR 3,054 crores.

• Audited standalone and consolidated financial results for the year ended March 31, 2026, were approved with an unmodified audit opinion.

• Board recommended a final dividend of Rs. 46 per share for FY 2025-26, in addition to an interim dividend of Rs. 20 per share declared earlier.

Financial highlights

• Consolidated revenue from operations for FY 2025-26 was Rs. 11,949.73 crore, up from Rs. 10,219.24 crore year-over-year.

• Profit before tax (before exceptional items) for FY26 was INR 3,104 crores (26% margin), up 24% year-over-year.

• Profit after tax for FY26 was INR 2,330 crores, up 22% year-over-year.

• Q4 FY26 sales were INR 2,963 crores, up 23% year-over-year; domestic sales up 30%, exports down 6%.

• Q4 profit before tax after exceptional items rose 25% year-over-year and 44% sequentially to INR 852 crores.

Outlook and guidance

• Expects moderate growth across all segments in FY 2027, with robust domestic demand but cautious due to geopolitical and inflationary risks.

• Export environment faces near-term pressures but medium- to long-term growth anticipated.

• Supply constraints, labor shortages, and commodity price increases are being closely monitored.

• Company continues to monitor regulatory developments regarding labour codes and will adjust accounting as needed.