1. Opening Hook
India’s data center boom is officially powering profits—literally. Cummins India, the country’s favorite engine whisperer, just delivered a 28% revenue jump and a 41% surge in pre-tax profit. Turns out, when you keep the lights on for hyperscalers like Microsoft and Amazon, you don’t need to chase small talk in “Make in India.”
While competitors are still adjusting their gears post-CPCB IV+, Cummins has already raced ahead—burning diesel, not dreams. But hold up—exports are wobbling, competition is heating up, and the monsoon just stole some industrial thunder. Stick around—this quarter’s got more torque than Tesla’s marketing. ⚡
2. At a Glance
- Revenue ₹3,122 Cr– Up 28% YoY; engines ran hotter than investors’ coffee.
- Domestic Sales ₹2,577 Cr– +28%; India loves its backup power almost as much as its cricket.
- Exports ₹545 Cr– +24%; Europe and the Middle East plugged in, U.S. tariffs stayed unplugged.
- PBT ₹839 Cr– +41%; margins humming like a freshly oiled generator.
- Power Gen Sales ₹1,340 Cr– +49%; 40% of it from data centers—thank you, cloud gods.
- Industrial Sales ₹387 Cr– -5%; monsoon drowned more than just roads.
- Stock Reaction– Traders briefly woke up, smiled, and went back to their AI charts.
3. Management’s Key Commentary
“Sales at ₹3,122 crore are up 28% YoY.”(Translation: The only thing rising faster than our engines is our Excel graph.)
“Power generation up 49%, driven by data centers.”(When cloud computing meets diesel combustion, you get profits that smell like success. ☁️🔥)
“40% of power gen sales came from data centers.”(Who knew hyperscalers would be Cummins’ biggest influencers?)
“Industrial sales dipped 5% due to extended monsoon.”(Rain gods clearly didn’t read the quarterly targets.) ☔
“Competition rising across all segments.”(Everyone’s now selling CPCB IV+—welcome to the hunger games of horsepower.)
“Expect double-digit revenue growth for FY26.”(Translation: We’ll grow faster than GDP and maybe, just maybe, beat PowerPoint projections.)
“Cost control and volume leverage to maintain margins.”(A.K.A. we’ll keep sweating the
small screws for big returns.)
4. Numbers Decoded
| Segment | Q2FY26 (₹ Cr) | YoY Growth (%) | QoQ Growth (%) |
|---|---|---|---|
| Total Sales | 3,122 | +28 | +9 |
| Domestic | 2,577 | +28 | +10 |
| Exports | 545 | +24 | +4 |
| Power Generation | 1,340 | +49 | +27 |
| Distribution | 796 | +21 | +2 |
| Industrial | 387 | -5 | -7 |
| PBT | 839 | +41 | +16 |
Comment:Cummins isn’t just firing on all cylinders—it’s running a power marathon. Data centers lit the fuse, while exports provided the spark plug.
5. Analyst Questions
- On Data Centers:“40% of power gen revenue came from data centers.”(Translation: AI is making our diesel sexy again.)
- On Exports:“Seeing some softness due to inventory corrections.”(Global partners ordered too much; now they’re Marie Kondo-ing warehouses.)
- On Competition:“Very broad-based, high across HP ranges.”(Everyone’s copying our homework—but using cheaper ink.)
- On Pricing:“Stabilized post-CPCB IV+, with competitive pressure.”(Translation: Discounts are the new diplomacy.)
- On Industrial Segment:“Construction hit by rain, mining hit by Coal India naps.”(If it’s not raining, it’s bureaucrats sleeping.) 😴
6. Guidance & Outlook
Cummins expectsdouble-digit revenue growthfor FY26 and stable margins. Data center demand will cool slightly after a blockbuster Q2, while exports
