Q1 2026 Cummins India Ltd Earnings Call Transcript
Key Points
- Cummins India Ltd (BOM:500480) reported a 26% increase in sales for Q1 FY25-'26 compared to the same quarter last year, with domestic sales up by 25% and exports by 34%.
- Profit before tax increased by 32% year-over-year, and profit before tax after exceptional items rose by 40%.
- The Powergen domestic sales saw a 31% increase over last year, indicating strong demand in this segment.
- The company has launched the Battery Energy Storage System (BESS) in India, which is expected to complement existing energy solutions without cannibalizing current offerings.
- Cummins India Ltd (BOM:500480) remains cautiously optimistic about achieving double-digit growth for the full year 2025-'26, supported by stable domestic economic conditions.
- Geopolitical uncertainties and global tax and trade policies pose potential risks to the company's export growth.
- Despite strong sales growth, the company faces intense competition across all segments, including high horsepower nodes.
- The company is cautious about export growth due to ongoing geopolitical issues, which could impact future performance.
- The introduction of CPCB IV+ products has increased competition, and maintaining pricing stability remains a challenge.
- The company's capacity utilization is currently at 65% to 70%, indicating potential underutilization of resources.
Good morning, ladies and gentlemen. Welcome to Cummins India Limited Q1 FY25-'26 earnings conference call. We hope you all are keeping safe and healthy. (Operator Instructions)
I will now hand the conference to Ms. Shveta Arya, Managing Director, Cummins India Limited. Thank you, and over to you, Ms. Arya.
Good morning, ladies and gentlemen. Hope you and your family are doing well and are staying healthy. Welcome to the Cummins India Limited quarter one 2025-'26 earnings conference call. I am Shveta Arya, Managing Director of Cummins India Limited. Joining me on the call today is Soma Ghosh, Chief Financial Officer of Cummins India Limited. Thank you all for joining us today on this call.
Now I would like to share the financial results of quarter one FY26. For the quarter ended June 30, 2025, with respect to the same quarter last year, our sales at INR2,859 crores were higher by 26% compared to INR2,262 crores recorded in the same quarter last year. Domestic sales at INR2,336 crores are
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