Strong outlook, robust domestic demand to support Cummins India stock

Riding on a 36 per cent growth y-o-y in the domestic market, the company posted an overall revenue growth of 16 per cent

Genset manufacturer Cummins India has seen its share price rise by 45 per cent in the past three months. The management has reaffirmed that growth would be in double digits over the coming two fiscal years.

Growth is expected to be driven by a pickup in domestic infrastructure spending. The Q3FY24 net revenue rose 16 per cent Y-o-Y to Rs 2,530 crore, well ahead of estimates, led by robust demand across sectors like data centres (DC), real estate, infrastructure, and manufacturing. The top line street-beat was partly due to the execution of a non-recurring large data centre order. However, exports