Cummins India Share Price Target 2027: Base and Bull Targets Built on FY26 Earnings

Investors weighing a Cummins India target price for 2027 should start with where the stock sits today. At Rs 4,837.90 on 9 October 2026, it is 20.7% below its 52-week high of Rs 6,100.00 and 24.6% above its 52-week low of Rs 3,882.50. That range spans 57% from low to high, so the entry point matters as much as the Cummins India price forecast itself.

This article builds the Cummins India share price target from reported numbers only: five years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario shows its assumptions, so you can see exactly how the Rs 5,576 base case and the Rs 6,741 bull case were reached, along with a downside risk level of Rs 3,807.

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Cummins India Stock Analysis: Company Overview and Key Stats

Cummins India (NSE: CUMMINSIND) has a market capitalisation of Rs 1,31,931 crore. In FY26 it reported revenue of Rs 12,661 crore and net profit of Rs 2,362 crore. The table collects the figures the Cummins India share price target is built on.

Metric	Value
Company	Cummins India
NSE Ticker	CUMMINSIND
CMP (9 October 2026)	Rs 4,837.90
52-Week High	Rs 6,100.00
52-Week Low	Rs 3,882.50
Market Cap	Rs 1,31,931 crore
PE Ratio (TTM)	55.73
Industry PE	47.18
Price to Book	15.57
Return on Equity	27.87%
Debt to Equity	0.00
EPS (TTM)	Rs 85.40
Dividend Yield	1.39%
12-Month Base Target	Rs 5,576
Bull Case	Rs 6,741
Downside Risk Level (not a target)	Rs 3,807

Why Is Cummins India Share Price Target Set at Rs 5,576 for 2027?

The base-case Cummins India stock target of Rs 5,576 applies a PE multiple of 55.73 to a forward EPS estimate of Rs 100.05. That EPS assumes 17.2% yearly growth, the pace from FY24 to FY26, and puts the target 15.3% above the current price. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.

Earnings Growth Behind the Cummins India Target Price: Five Years of Results

Cummins India grew revenue from Rs 6,414 crore in FY22 to Rs 12,661 crore in FY26, a compound annual growth rate of 18.5%. Net profit grew faster, from Rs 933.74 crore to Rs 2,362 crore (26.1% a year), which shows margin gains did part of the work and not just higher sales.

Financial Year	Revenue (Rs Cr)	Net Profit (Rs Cr)	EPS (Rs)	Dividend per Share (Rs)
FY22	6,414.11	933.74	33.68	18.50
FY23	8,080.24	1,228.15	44.31	25.00
FY24	9,378.27	1,720.58	62.07	38.00
FY25	10,837.61	1,999.94	72.15	51.50
FY26	12,660.53	2,361.75	85.20	66.00

FY26 revenue growth was 16.8%, close to the four-year average of 18.5%, and net profit moved up 18.1%. EPS rose from Rs 62.07 in FY24 to Rs 85.20 in FY26. The FY27 outlook depends on whether that EPS estimate keeps compounding.

Margins and the Latest Quarter

Cummins India converted 18.7% of FY26 revenue into net profit, against 18.5% in FY25, within a five-year range of 14.6% to 18.7%. EBITDA margin was 26.0% in FY26 versus 25.8% in FY25.

In the June 2026 quarter, revenue was Rs 3,563 crore, up 17.2% from the same quarter a year earlier, while net profit of Rs 609.30 crore was up 0.9%. EBITDA came in at Rs 753.50 crore, down 0.5% year on year. The next quarterly result is the first test of whether the earnings assumption holds.

Balance Sheet and Cash Flow

Debt to equity stands at 0.00, and shareholders' equity grew from Rs 5,145 crore in FY22 to Rs 8,475 crore in FY26. Operating cash flow in FY26 was Rs 1,734 crore against capital expenditure of Rs 251.71 crore, leaving free cash flow of Rs 1,483 crore, or 1.1% of the current market capitalisation. In FY25 free cash flow was Rs 1,457 crore.

Valuation Check for the Cummins India Stock Target: PE, Price to Book and ROE

At a PE of 55.73 against an industry PE of 47.18, Cummins India trades at a premium to its industry. Price to book is 15.57 on a book value of Rs 305.74 per share, and return on equity is 27.87%. A PE of 55.73 equals an earnings yield of 1.8%, and the FY26 dividend of Rs 66.00 per share gives a yield of 1.39%.

Shareholding Pattern and Institutional Holding

Promoters held 51.00% of Cummins India in June 2026, and promoter holding has stayed near 51.00% since June 2025. Foreign institutional investors (FII) held 21.19% and domestic institutions (DII) held 19.16%, which puts total institutional holding at 40.35%. FII holding rose from 17.50% in June 2025 to 21.19% in June 2026. Public shareholders own the remaining 8.66%. A meaningful institutional holding adds a layer of research coverage and trading depth.

Cummins India Share Price Targets for the Short Term and 12 Months

Short Term Cummins India Stock Target Levels: Technical Setup

At Rs 4,837.90 on 9 October 2026, Cummins India trades below its 50-day simple moving average of Rs 5,135.50 and below its 200-day exponential moving average of Rs 4,966.42. The 14-day RSI reads 36.0, which is neutral territory, and the MACD line sits above its signal line. The nearest resistance level is Rs 4,966.42 (200-day exponential moving average) and the nearest support is Rs 3,882.50 (52-week low). A sustained move above Rs 4,966.42 would improve the short-term setup, while a close below Rs 3,882.50 would shift attention to the next support.

12 Month Cummins India Target Price for 2027

The 12-month target for Cummins India is Rs 5,576: forward EPS of Rs 100.05 at a PE of 55.73. That is 15.3% above Rs 4,837.90. It would still leave the stock 8.6% below its 52-week high of Rs 6,100.00.

How EPS Growth and PE Multiple Change the Cummins India Target Price

EPS Growth	PE 44.58	PE 55.73	PE 64.09
0.0% (EPS Rs 85.40)	Rs 3,807	Rs 4,759	Rs 5,473
17.2% (EPS Rs 100.05)	Rs 4,460	Rs 5,576	Rs 6,412
23.2% (EPS Rs 105.18)	Rs 4,689	Rs 5,862	Rs 6,741

Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the Cummins India price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.

Bull Case and Downside Risk for Cummins India Stock Target in 2027

Bull Case Rs 6,741

The bull case Cummins India price target needs EPS growth of 23.2%, which lifts forward EPS to Rs 105.18, and a PE multiple that rises 15% to 64.09. That gives Rs 6,741, 39.3% above the current price and above the 52-week high of Rs 6,100.00, so the stock would have to set a fresh 52-week high.

Downside Risk Level Rs 3,807

The downside risk level is not a target. It assumes EPS stays flat at Rs 85.40 and the PE falls 20% to 44.58. That gives Rs 3,807, 21.3% below the current price and below the 52-week low of Rs 3,882.50.

Scenario	EPS Growth	PE Multiple	Price (Rs)	Change vs CMP
Bull Case	23.2%	64.09	Rs 6,741	+39.3%
Base Case	17.2%	55.73	Rs 5,576	+15.3%
Downside Risk	0.0%	44.58	Rs 3,807	-21.3%

Key Risks to the Cummins India Target Price for 2027

Growth Slowdown Risk for the Cummins India Price Target

Revenue in the June 2026 quarter was up 17.2% year on year, and FY26 revenue growth was 16.8%. If growth slows from here, the EPS estimate behind the Cummins India stock target will need revising.

Liquidity and Size Risk

Cummins India has a market capitalisation of Rs 1,31,931 crore. Institutional holding is 40.35%, and promoters hold 51.00%. A company of this size trades with deep liquidity, so entry and exit are rarely a problem, and the larger risk is paying too much for slow earnings growth.

Valuation and Margin Risk

Net margin was 18.7% in FY26, and a squeeze from higher costs or weaker pricing would hit earnings first. At a PE of 55.73 versus an industry PE of 47.18, a de-rating toward the downside-risk PE of 44.58 would cut the price even if earnings hold.

Market and Technical Risk

The stock trades 20.7% below its 52-week high, with an RSI of 36.0 and a MACD reading above its signal line. Broader market weakness can override company fundamentals in the short term.

How to Invest in Cummins India

Start with the live price and volume. Any Cummins India share price target is only as current as the data behind it, and the data here is as of 9 October 2026, so refresh the Rs 4,837.90 price before acting on any level.

Next, review the fundamentals yourself. The Univest Screener lets you check Cummins India's PE, ROE, debt and shareholding in one place.

Check Cummins India fundamentals on the Univest Screener

Then compare the three Cummins India target price scenarios with your own view. If you expect EPS growth below 17.2%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.

Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.

Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.

Download the Univest iOS App or Univest Android App to track Cummins India live price and get daily stock recommendations.

Conclusion

The Cummins India share price target for 2027 is Rs 5,576 in the base case, with Rs 6,741 as the bull case. The support for that view is arithmetic you can check: EPS grew 17.2% a year over FY24 to FY26, and the stock trades at a PE of 55.73. The risks are equally concrete, including a stock that sits 20.7% below its 52-week high and a downside scenario that cuts the price 21% if earnings stall. Use these numbers as a framework, check them against the latest filings, and size any position to your own risk appetite.

FAQs on Cummins India Share Price Target 2027

What is the Cummins India share price target for 2027?

Ans. The base-case Cummins India share price target for 2027 is Rs 5,576, with Rs 6,741 as the bull case. The downside risk level, which is not a target, is Rs 3,807. These are model estimates from reported earnings and the current PE, not guaranteed outcomes.

What is the Cummins India share price today?

Ans. As of 9 October 2026, 12:52 PM IST, Cummins India trades at Rs 4,837.90, up 2.05% on the day. The 52-week range is Rs 3,882.50 to Rs 6,100.00.

Is Cummins India a buy or sell at the current price?

Ans. The data is mixed rather than one-sided: EPS has grown 17.2% a year over FY24 to FY26, but the stock is 20.7% below its 52-week high. Whether Cummins India fits your portfolio depends on your time horizon and risk appetite, so consult a SEBI-registered advisor before investing. This article is not investment advice.

What are the bull case target and downside risk level for Cummins India shares?

Ans. The bull case target is Rs 6,741, which assumes 23.2% EPS growth and a PE of 64.09. The downside risk level is Rs 3,807, which assumes flat EPS and a PE of 44.58. It marks a risk, not a target.

What are the main risks to the Cummins India price target?

Ans. The main risks are slower revenue growth, a small market capitalisation of Rs 1,31,931 crore, a PE de-rating and short-term weakness in the broader market. Each is covered in the risk section above.

What is the PE ratio of Cummins India and how does it compare with the industry?

Ans. The PE ratio of Cummins India is 55.73 against an industry PE of 47.18. Price to book is 15.57 and return on equity is 27.87%. The base case in the Cummins India price target holds this PE constant.

Who owns Cummins India, and what is the promoter holding?

Ans. Promoters held 51.00% of Cummins India in June 2026. FII held 21.19%, DII held 19.16% and the public held 8.66%.

What were Cummins India's latest quarterly results?

Ans. In the June 2026 quarter, Cummins India reported revenue of Rs 3,563 crore (up 17.2% year on year) and net profit of Rs 609.30 crore (up 0.9%).