India · Delayed Price · Currency is INR Cummins India Earnings Call Transcripts
Fiscal Year 2026
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FY 2026 saw 18% sales growth and 22% higher profit before tax, driven by robust domestic demand and strong data center segment performance. Outlook for FY 2027 is moderate growth amid supply and geopolitical risks, with continued investment in modernization and capacity.
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Q3 FY 2025-26 saw stable sales with strong distribution growth and record gross margins, despite a decline in Power Gen due to lumpy data center orders. Management expects double-digit revenue growth for FY 2026, with a positive outlook for domestic infrastructure and data center segments.
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Q2 FY 2025-26 saw 28% sales growth and 41% higher profit before tax, driven by strong Power Generation demand, especially from data center projects. Double-digit revenue growth is expected for the year, though export softness and rising competition present risks.
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Q1 FY 2026 saw 26% sales growth and 40% higher profit before tax year-over-year, with broad-based gains across Power Gen, distribution, and industrial segments. Management expects double-digit growth for the year, supported by stable domestic demand and ongoing cost optimization.
Fiscal Year 2025
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Annual sales grew 15% and profit before tax rose 16% year-over-year, with strong domestic and export performance. Double-digit growth is guided for FY 2026, driven by resilient domestic demand, while export outlook remains cautious due to global uncertainties.
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Q3 FY25 saw 22% year-over-year sales growth and 11% higher profit before tax, driven by robust domestic and export demand, especially in Power Gen and Industrial segments. Management expects double-digit revenue growth for FY25 and is closely monitoring pricing, export tariffs, and ongoing CapEx needs.
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Q2 FY 2024-25 saw 31% sales growth and 39% higher profit before tax year-over-year, led by strong domestic demand and power generation sales. Management expects double-digit revenue growth for the year, with robust performance in key segments and ongoing margin improvement initiatives.
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Q1 FY25 saw 4% YoY sales growth and a 33% rise in profit before tax, with gross margins at a five-year high. Domestic demand remains robust, exports are recovering, and the CPCB IV+ transition is complete, supporting a double-digit growth outlook.