Cummins India Q2 FY27 standalone PAT Rs 466.89 crore, down YoY

What the numbers show

• Net margin was 14.38% of revenue, down 605 bps from 20.43%.
• Total expenses rose 12.8% while revenue rose 4.0%.
• Cost of materials accounted for Rs 313.87 cr of the Rs 324.66 cr rise in total expenses (96%).
• Cost of materials took 65.2% of revenue, against 57.8% a year earlier.

• Total income (standalone, Q2 FY27): Rs 3,452.69 cr, vs Rs 3,366.64 cr in the quarter ended September 30, 2025 (statement of financial results – standalone).

• Revenue from operations – Sales/Income from operations: Rs 3,247.47 cr, vs Rs 3,121.58 cr a year earlier.

• Revenue from operations – Other operating income: Rs 53.74 cr, vs Rs 48.69 cr a year earlier.

• Other income: Rs 151.48 cr, vs Rs 196.37 cr a year earlier.

• Total expenses: Rs 2,851.87 cr, vs Rs 2,527.21 cr in the corresponding quarter of the previous year.

• Cost of materials consumed: Rs 2,118.32 cr, vs Rs 1,804.45 cr a year earlier.

• Purchases of traded goods: Rs 204.11 cr, vs Rs 196.82 cr a year earlier.

• Change in inventories of finished goods, work-in-progress and traded goods: Rs (81.30) cr, vs Rs 11.06 cr a year earlier.

• Employee benefits expense: Rs 234.83 cr, vs Rs 198.60 cr a year earlier.

• Finance cost: Rs 3.00 cr, vs Rs 2.55 cr a year earlier.

• Depreciation and amortisation expense: Rs 53.93 cr, vs Rs 49.18 cr a year earlier.

• Other expenses: Rs 318.98 cr, vs Rs 264.55 cr a year earlier.

• Profit before exceptional items and tax: Rs 600.82 cr, vs Rs 839.43 cr in the quarter ended September 30, 2025.

• Exceptional items (expense) / income: Rs Nil in the quarter ended September 30, 2026, vs Rs Nil in the quarter ended September 30, 2025 (no standalone exceptional item line amount is shown for these quarters in the statement of financial results).

• Profit before tax: Rs 600.82 cr, vs Rs 839.43 cr a year earlier.

• Tax expense – Current tax: Rs 134.72 cr, vs Rs 199.44 cr a year earlier.

• Tax expense – Deferred tax: Rs (0.79) cr, vs Rs 2.30 cr a year earlier.

• Total tax expenses: Rs 133.93 cr, vs Rs 201.74 cr a year earlier.

• Profit after tax (PAT): Rs 466.89 cr, vs Rs 637.69 cr in the corresponding quarter of the previous year.

• Earnings per share (basic and diluted, not annualised, on net profit): Rs 16.84, vs Rs 23.00 a year earlier.

In the unaudited standalone statement of financial results for the quarter ended September 30, 2026, Cummins India Limited reported higher total income and revenue from operations compared with the quarter ended September 30, 2025, while other income was lower. Total income rose to Rs 3,452.69 cr from Rs 3,366.64 cr, with Sales/Income from operations increasing to Rs 3,247.47 cr from Rs 3,121.58 cr and Other operating income moving to Rs 53.74 cr from Rs 48.69 cr. Other income declined to Rs 151.48 cr from Rs 196.37 cr.

On the cost side, total expenses increased to Rs 2,851.87 cr from Rs 2,527.21 cr in the corresponding quarter of the previous year. Cost of materials consumed, purchases of traded goods, employee benefits expense, finance cost, depreciation and amortisation expense, and other expenses were all higher year-on-year, while the change in inventories line moved to Rs (81.30) cr from Rs 11.06 cr. As a result, profit before exceptional items and tax decreased to Rs 600.82 cr from Rs 839.43 cr, and profit before tax was also Rs 600.82 cr versus Rs 839.43 cr a year earlier. After total tax expenses of Rs 133.93 cr, down from Rs 201.74 cr, profit after tax declined to Rs 466.89 cr from Rs 637.69 cr in the quarter ended September 30, 2025. Basic and diluted earnings per share (not annualised) on net profit were Rs 16.84, compared with Rs 23.00 in the corresponding quarter of the previous year.