Operating profit margin has jumped from 19.30% to 20.77%, leading to 6.18% rise in operating profit to Rs 634.47 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 56.31% to 55.27%.   Purchase of finished goods cost rose from 6.31% to 6.60%.   Employee cost decreased from 8.30% to 6.60%.   Other expenses rose from 8.38% to 10.60%.   

Other income rose 4.12% to Rs 115.98 crore.  PBIDT rose 5.85% to Rs 750.45 crore.  Provision for interest rose 58.28% to Rs 4.78 crore.  PBDT rose 5.63% to Rs 745.67 crore.  Provision for depreciation rose 2.19% to Rs 50.36 crore.  Profit before tax grew 5.89% to Rs 695.31 crore.  

EO Exp for the period was Rs 126.54 crore against nil. Thus the PBT after EO was down 12.34% to Rs 625.52 crore.  Share of profit/loss was 0.32% lower at Rs 56.75 crore.  Provision for tax was expense of Rs 139.46 crore, compared to Rs 155.13 crore.  Effective tax rate was 22.30% compared to 21.74%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company decreased 12.96% to Rs 486.06 crore.    

 For year-to-date (YTD) results analysis.

Net sales (including other operating income) of Cummins India has increased 15.30% to Rs 9132.01 crore.  Sales of Engine Business segment has gone up 15.34% to Rs 8,986.53 crore (accounting for 81.15% of total sales).  Sales of Lubes segment has gone up 21.50% to Rs 2,087.74 crore (accounting for 18.85% of total sales).  Inter-segment sales rose Rs 1,718.35 crore to Rs 2,087.74 crore.  

Profit before interest, tax and other unallocable items (PBIT) has jumped 16.80% to Rs 2,346.01 crore.  PBIT of Engine Business segment rose 17.85% to Rs 2,168.15 crore (accounting for 92.42% of total PBIT).  PBIT of Lubes segment rose 5.30% to Rs 177.86 crore (accounting for 7.58% of total PBIT).  

PBIT margin of Engine Business segment rose from 23.61% to 24.13%.  PBIT margin of Lubes segment fell from 9.83% to 8.52%.  Overall PBIT margin rose from 21.12% to 21.18%.  

Operating profit margin has jumped from 19.63% to 21.38%, leading to 25.59% rise in operating profit to Rs 1,952.76 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 56.96% to 56.78%.   Purchase of finished goods cost fell from 6.63% to 6.60%.   Employee cost decreased from 7.95% to 6.46%.   Other expenses rose from 8.73% to 9.06%.   

Other income rose 16.29% to Rs 372.63 crore.  PBIDT rose 24% to Rs 2325.39 crore.  Provision for interest fell 5.49% to Rs 9.98 crore.  

PBDT rose 24.17% to Rs 2315.41 crore.  Provision for depreciation rose 6.42% to Rs 147.47 crore.  

Profit before tax grew 25.60% to Rs 2,167.94 crore.  Share of profit/loss was 2.17% higher at Rs 180.23 crore.  Provision for tax was expense of Rs 521.93 crore, compared to Rs 432.06 crore.  Effective tax rate was 23.36% compared to 22.71%.

Minority interest was nil in both the periods.  Net profit attributable to owners of the company increased 16.45% to Rs 1,712.29 crore.  

Management Comments 

Commenting on results, Shveta Arya, Managing Director, Cummins India Limited, said: “I am pleased to share that Cummins India Limited has recorded a revenue of over Rs 3,000 Cr and continues steady execution on our profitable growth strategy, supported by volume leverage and operational efficiencies. The Consumer Price Index (CPI) remains stable compared to the last quarter, which shows rapid momentum. Other macro-economic indicators like Index of Industrial Production (IIP), crude oil price, show supportive trends. With indirect taxation reforms and further reduction in repo rate, we believe the Indian economy continues to be positioned for an estimated 7.4% GDP growth.” 

Future Outlook

Domestic demand continues to demonstrate resilience, supported by sustained capital expenditure across key sectors. While exports face near-term pressures amid ongoing geopolitical uncertainties, we expect greater stability over the medium to long term. We remain watchful of policy developments and see continued collaboration with trade partners as a key enabler of growth across our end markets. Against this backdrop, we are executing with discipline maintaining prudent capital allocation, strong cost controls, and a healthy balance sheet and cash position. Customer satisfaction and shareholder value creation continue to be our primary focus. Backed by reliable technology, talent capabilities, a dependable brand, diverse products, strong manufacturing capabilities, and a wide distribution and service network, the Company is well-positioned to serve customers efficiently.

Promoters’ stake was 51.00% as of 31 December 2025 ,compared to 51.00% as of 31 December 2024 .