Cummins India Share Price: 33.2% CAGR in 3 Years as the Engine Maker Leads ABB India and Kirloskar Pneumatic
- November 10, 2026
- Posted by: Kunal Singla
- Category: Best Stocks
Cummins India Share Price: 33.2% CAGR in 3 Years as the Engine Maker Leads ABB India and Kirloskar Pneumatic
Cummins India previous close Rs 4,135.20. 3-year CAGR 33.2%. Up 2.4x since 9 Nov 2023. ROE 27.13%. Market cap Rs 1,14,320 crore.
Quick Answer
The Cummins India share price closed at Rs 4,135.20 on 9 November 2026, a compounded annual return of 33.2% over three years. That compares with ABB India at 17.1% and Kirloskar Pneumatic Company at 31.5%. The company has a market cap of Rs 1,14,320 crore and a P/E of 50.76 against an industry P/E of 42.98.
The Cummins India share price has more than doubled in three years, which makes Cummins India one of the strongest companies in the Indian capital goods space. The Pune-based company makes engines, generator sets and related products used across industry and infrastructure.
This article compares that run with ABB India and Kirloskar Pneumatic Company. We calculate the three-year CAGR for all three and set the results beside market cap, valuation, return on equity and debt, using prices adjusted for corporate actions.
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How Much Has the Cummins India Share Price Returned in 3 Years?
The Cummins India stock closed at Rs 1,750.50 on 9 November 2023 and at Rs 4,135.20 on 9 November 2026. Rs 1 lakh invested three years ago would have grown to about Rs 2.36 lakh, which is a CAGR of 33.2%. This is a price return and leaves out dividends.
CAGR condenses a bumpy three-year ride into one yearly number, which is why it is the fairest way to compare companies of different sizes. A stock such as Cummins India can look spectacular on a chart and still have earned a modest yearly return, so the compounded figure keeps the comparison honest.
The Cummins India share price has also been supported by demand for backup power from data centres, real estate and commercial buildings, together with a growing export business.
Cummins India vs ABB India and Kirloskar Pneumatic Company: 3-Year CAGR Compared
The table ranks the companies by three-year CAGR. Prices on 9 November 2023 are adjusted for splits and bonuses, and the latest figures are the previous close on 9 November 2026.
| Company | Close on 9 Nov 2023 | Previous close (9 Nov 2026) | Price multiple | 3-year CAGR |
|---|---|---|---|---|
| Cummins India | Rs 1,750.50 | Rs 4,135.20 | 2.4x | 33.2% |
| Kirloskar Pneumatic Company | Rs 277.10 | Rs 630.30 | 2.3x | 31.5% |
| ABB India | Rs 4,310.50 | Rs 6,915.00 | 1.6x | 17.1% |
The Cummins India stock leads the group at 33.2%, followed by Kirloskar Pneumatic Company at 31.5% and ABB India at 17.1%. Cummins India leads the group, with Kirloskar Pneumatic close behind and ABB India in third place. ABB India is the largest of the three by market cap.
Look at the Cummins India share price alongside the peers as a snapshot of the last three years. It describes what happened, and valuation and earnings will decide what happens next.
Valuation and Quality Compared
| Company | Market cap | P/E | Industry P/E | ROE | Debt to equity |
|---|---|---|---|---|---|
| ABB India | Rs 1,46,993 crore | 49.20 | 42.52 | 16.50% | 0.02 |
| Cummins India | Rs 1,14,320 crore | 50.76 | 42.98 | 27.13% | 0.00 |
| Kirloskar Pneumatic Company | Rs 8,195 crore | 31.72 | 42.98 | 20.13% | 0.00 |
By market cap, ABB India is the largest of the group at Rs 1,46,993 crore, while the Cummins India stock stands at Rs 1,14,320 crore, about 78% of that size. On earnings, Cummins India shares trade at a P/E of 50.76 against an industry P/E of 42.98, a premium of about 18%, which signals that the market expects faster earnings growth. Peer multiples are ABB India at 49.20 and Kirloskar Pneumatic Company at 31.72.
Return on equity is 27.13% for the Cummins India stock, which ranks first among the three, and debt to equity stands at 0.00. Trailing EPS is Rs 81.24. Capital goods companies are valued on order inflow and execution, so the multiple should be read next to return on equity and the strength of the balance sheet.
What Is Driving the Cummins India Stock?
Cummins India makes diesel and gas engines, generator sets, filtration products and power systems. Its products serve data centres, infrastructure projects, industry, railways and commercial buildings.
The company also exports to many markets, and it supplies engines for use in trucks, buses and other equipment. A strong service and spare parts network adds recurring revenue to the sale of new equipment.
Followers of the Cummins India share price usually track demand for generator sets, data centre related orders, export growth and operating margins.
How the Established Players Stack Up
ABB India is a Bengaluru-based technology company in electrification, motion and automation, and it serves industry, utilities and buildings. It compounded at 17.1% a year, on a market cap of Rs 1,46,993 crore and an ROE of 16.50%.
Kirloskar Pneumatic Company is a Pune-based maker of compressors, heat exchangers and related equipment for industrial customers. It compounded at 31.5% a year, on a market cap of Rs 8,195 crore and an ROE of 20.13%.
What Should Investors Track Next?
Three things are worth watching on the Cummins India share price. First, data centre and infrastructure driven demand. Second, the pace of exports. Third, input costs and their effect on margins.
At a P/E of 51, expectations are meaningful, but the company has almost no debt, with a debt to equity of 0.00, and an ROE of 27.13%.
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How to Compare Capital Goods Stocks Yourself
You can repeat this exercise for any pair of stocks, including the Cummins India stock against its peers. Note the adjusted closing price on the base date, take the latest close, divide one by the other, raise the result to the power of one third and subtract one. Then place the CAGR next to market cap, P/E against the industry P/E, ROE and debt to equity. Benchmark the result against the Nifty 50 as well, so you know whether the stock beat the broader market.
A stock that scores well on growth but weakly on quality, or the reverse, deserves closer study before it enters a portfolio. When tracking the Cummins India share price, the same four checks give a more complete picture than price alone.
Download the Univest iOS App or Univest Android App to track the Cummins India share price and compare capital goods stocks live.
A Debt Free Engine Maker With a Strong ROE
The Cummins India share price compounded at 33.2% a year over three years, ahead of Kirloskar Pneumatic at 31.5% and ABB India at 17.1%. Its ROE of 27.13% is the highest of the three.
ABB India brings automation and electrification scale, while Kirloskar Pneumatic offers a smaller industrial niche. The choice depends on which part of the capital goods cycle you want to follow.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions
What is the Cummins India share price today?
Ans. Cummins India closed at Rs 4,135.20 on 9 November 2026, according to NSE data. It has a market cap of Rs 1,14,320 crore and a P/E of 50.76. Check live quotes before acting, as prices change every trading day.
What is the 3-year CAGR of the Cummins India stock?
Ans. Cummins India delivered a price CAGR of 33.2% over three years, moving from Rs 1,750.50 on 9 November 2023 to Rs 4,135.20 on 9 November 2026. The figure excludes dividends and uses adjusted closing prices.
Is Cummins India better than ABB India?
Ans. Cummins India delivered a higher three-year CAGR at 33.2% than ABB India at 17.1%. ABB India is larger by market cap at Rs 1,46,993 crore against Rs 1,14,320 crore, while Cummins India has a higher ROE at 27.13% against 16.50%. The better choice depends on your view of each business.
What does Cummins India do?
Ans. Cummins India is a Pune-based maker of diesel and gas engines, generator sets and power systems for industry, infrastructure and export markets.
Is the Cummins India stock debt free?
Ans. The debt to equity ratio of the Cummins India stock is 0.00 and its return on equity is 27.13%. Always check the latest balance sheet for current figures, as debt levels change with expansion plans.
Is Cummins India expensive compared with the industry?
Ans. Cummins India trades at a P/E of 50.76 against an industry P/E of 42.98. A higher multiple reflects expectations of faster growth, which the company must deliver through earnings.
Which capital goods stock gave the highest return in 3 years?
Ans. Among the companies compared here, Cummins India delivered the highest three-year CAGR at 33.2%, followed by Kirloskar Pneumatic Company at 31.5%. Past returns do not guarantee future performance.
How do I calculate CAGR for a stock?
Ans. Divide the latest price by the starting price, raise the result to the power of one divided by the number of years, and subtract one. Multiply by 100 for a percentage. Use split and bonus adjusted prices for accurate results.
