Motilal Oswal's research report on Cummins India
Cummins India (KKC) reported a strong set of results with a beat on all parameters. Revenue growth was fueled by sharp growth in powergen and exports, followed by distribution. KKC seems to have gained market share during the quarter, with a sharp growth seen in the powergen segment revenues as compared to the nearest peer. We expect KKC to benefit from 1) demand improvement in the powergen segment as prices have largely stabilized, 2) customized product offerings in the industrial segment and improved penetration for the distribution segment, and 3) recovery in exports. We broadly maintain our estimates and roll forward our valuations to 41x Sep’27E earnings. We reiterate our BUY rating with a revised TP of INR4,350.
Outlook
The stock is currently trading at 45.6x/38.7x/33.3x on FY26/27/28E EPS. We reiterate our BUY rating on the stock with a revised TP of INR4,350 (based on 41x Sep’27E earnings).
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
