Financial Performance Overview
Cummins India Limited reported exceptional financial results for FY 2025-26, achieving record annual revenue of ₹11,950 crore with standalone revenue from operations reaching ₹12,143.19 crore (17% YoY growth). Profit After Tax showed robust growth at ₹2,330.18 crore on standalone basis (22% increase) and ₹2,361.75 crore on consolidated basis (18% increase). The company maintained strong operational performance across all business segments including railways, marine, defense, and power generation.
Dividend Declaration and Capital Structure
The Board recommended a final dividend of ₹46 per share (2,300%) following an interim dividend of ₹20 per share (1,000%) paid in February 2026, resulting in total dividend of ₹66 per share (3,300%) aggregating to ₹1,829.52 crore. The final dividend is subject to shareholder approval at the 65th Annual General Meeting scheduled for August 6, 2026. The company maintained stable capital structure with paid-up share capital of ₹55.44 crore divided into 277.2 million equity shares of ₹2 each.
Subsidiary Operations and Strategic Moves
The company completed the sale of its wholly-owned subsidiary Cummins Sales & Service Private Limited (CSSPL) effective April 1, 2025, recording a gain of ₹12.59 crore (consolidated). Joint ventures performed strongly with Valvoline Cummins Private Limited reporting revenue of ₹3,010.66 crore (28% growth) and Cummins Generator Technologies India Private Limited showing solid performance. The company also invested in Clean Max Yellowstone Private Limited for renewable power procurement.
Sustainability and Environmental Performance
Cummins India disclosed comprehensive sustainability metrics through its Business Responsibility and Sustainability Report (BRSR) with reasonable assurance by Price Waterhouse. Key environmental indicators included total water consumption of 181,595 KL, GHG emissions of 25,209 MT CO2e, and waste generation of 7,796.52 MT with 82.8% recovery rate. The company implemented Zero Liquid Discharge systems across manufacturing sites and reported no significant environmental non-compliances.
Operational Highlights and Segment Performance
The company achieved significant growth across multiple segments: record revenue in marine business, expanded mining footprint in Heavy Earth Moving Machinery, strengthened defense capabilities, and delivered market-ready emission-compliant solutions in power generation. Export sales accounted for 3% of revenue at ₹1,734 crore, with the company maintaining its status as Net Foreign Exchange Earner. The distribution business achieved highest-ever Net Promoter Score of 90% globally.
Corporate Governance and Compliance
The Board composition included 10 directors with 5 women directors (including 3 independent women directors) and 5 independent directors. Key appointments included Ms. Vibha Paul Rishi as Additional Director and Ms. Soma Dilip Ghosh as Chief Financial Officer. The company maintained robust compliance with all regulatory requirements, paid minor penalties for audit committee composition issues, and received unmodified audit opinion from Price Waterhouse.
Risk Management and Forward Outlook
The company maintained a robust Enterprise Risk Management Framework with focus on supply chain resilience, cybersecurity, and climate action risks. Significant provisions were made for employee benefits (₹209.67 crore), warranties (₹129.82 crore), and statutory matters. Contingent liabilities stood at ₹303.16 crore, primarily related to GST matters. The company remains focused on strengthening capabilities, deepening partnerships, and capitalizing on opportunities in infrastructure development and energy transition.
Corporate Social Responsibility
CSR expenditure totaled ₹37.10 crore (2% of average net profits) focused on education, environment, and equity initiatives through Cummins India Foundation. Key programs included Nurturing Brilliance Scholarship Program, Technical Education for Communities, Zero Waste Communities, and Cummins Powers Women initiatives.