Cummins IndiaNSE:CUMMINSIND +0.06%84 Net Margin % is 21.92% as of Mar. 2026, which is 45% above its 10-year median of 15.12. GuruFocus rates NSE:CUMMINSIND with a GF Score™ of 84/100 and a GF Value™ of ₹4,348.30 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 3,032 Industrial Products companies, Cummins India ranks better than 94.16% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Cummins India's Net Income for the
three
months ended in Mar. 2026 was ₹6,495 Mil. Cummins India's Revenue for the
three
months ended in Mar. 2026 was ₹29,632 Mil. Therefore, Cummins India's net margin for the quarter that ended in Mar. 2026 was 21.92%.
The historical rank and industry rank for Cummins India's Net Margin % or its related term are showing as below:
NSE:CUMMINSIND'
s Net Margin % Range Over the Past 10 Years
Min: 13.35 Med: 15.12 Max: 19.76
Current: 19.76
NSE:CUMMINSIND's Net Margin % is ranked better than 94.16% of 3032
companies
in the Industrial Products industry
Industry Median: 4.53
vs NSE:CUMMINSIND: 19.76
Cummins India (NSE:CUMMINSIND) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
Cummins India Net Margin % Related Terms
Cummins India Net Margin % Historical Data
* Premium members only.
The historical data trend for Cummins India's Net Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:CUMMINSIND vs GEV, ETN, PH: Net Margin % Comparison
For the Specialty Industrial Machinery subindustry, Cummins India's Net Margin %, along with its competitors' market caps and Net Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Cummins India Net Margin % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Cummins India's Net Margin % distribution charts can be found below:
* The bar in red indicates where Cummins India's Net Margin % falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Cummins India (NSE:CUMMINSIND) has a Net Margin % of 21.92% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Cummins India and its competitors. This is 45% above median its historical median of 15.12. Over the past decade, Cummins India's Net Margin % has ranged from 13.35 to 19.76. According to the industry distribution chart, Cummins India ranks #177 out of 3032 companies in the Industrial Products industry, placing it in the top 5.8%.
Is Cummins India's Net Margin % too high?
Cummins India's current Net Margin % of 21.92% is 45% above median its 10-year median of 15.12. Over the past 10 years, this metric has ranged from a low of 13.35 to a high of 19.76. The Industrial Products industry median Net Margin % is 4.53. Cummins India's value of 21.92% is 383.9% above this industry median. Based on the distribution chart, Cummins India ranks #177 out of 3032 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Cummins India has a GF Score™ of 84/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cummins India's Net Margin % compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Cummins India ranks #177 out of 3032 companies for Net Margin %. This places Cummins India in the top 6% of its industry — outperforming the majority of peers. The industry median Net Margin % is 4.53. Cummins India's value of 21.92% is 383.9% above this benchmark. Historically, Cummins India's own Net Margin % has ranged from 13.35 to 19.76 over the past decade. While the company's 10-year median is 15.12 vs. the industry median of 4.53, Cummins India has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Margin % for an Industrial Products company?
The median Net Margin % among Industrial Products companies is 4.53, based on 3,032 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Cummins India's current Net Margin % of 21.92% is 383.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on Cummins India and its competitors. For the Industrial Products industry, the median Net Margin % is 4.53 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cummins India's current Net Margin % is 21.92%, which is 45% above median its own 10-year median of 15.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cummins India stock overvalued right now?
Based on GuruFocus' analysis, Cummins India (NSE:CUMMINSIND) is currently considered Modestly Overvalued. The stock's GF Value™ is ₹4,348.30, compared to a current price of ₹5,663.00 — trading 30.2% above its estimated fair value. The current Net Margin % is 21.92%, which is 45% above median its 10-year median of 15.12 and 383.9% above the Industrial Products industry median of 4.53. Cummins India's overall GF Score™ is 84/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For Cummins India (NSE:CUMMINSIND), the current Net Margin % is 21.92% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Cummins India (NSE:CUMMINSIND) Overvalued in 2026?
Based on GuruFocus' analysis, Cummins India stock appears to be overvalued.
The current stock price of ₹5,663.00 is trading 30.2% above its estimated GF Value™ of ₹4,348.30.
GuruFocus considers Cummins India to be Modestly Overvalued.
Key valuation signals for NSE:CUMMINSIND:
Net Margin %: 21.92% (45% above median its 10-year median of 15.12)
GF Value™: ₹4,348.30 vs. price of ₹5,663.00 (30.2% above fair value)
Industry Position: 383.9% above the Industrial Products median (#177 of 3032)
No single metric tells the full story. See the NSE:CUMMINSIND stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cummins India Ltd designs and manufactures service engines and engages in allied activities. The company produces fuel systems, air handling, filtration, emission solutions, and electrical power generation systems in facilities across India. The company's business units are; Engines, Power Systems, Components, and Distribution. Its operating segments are; Engines and Lubes. Maximum revenue is generated from its Engines segment which manufactures engines from 60 HP for low, medium, and heavy-duty on-highway commercial vehicle markets and off-highway commercial equipment industry spanning construction and compressor.
84GF Score
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Net Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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