Cummins India vs Kirloskar Oil Engines vs Elecon Engineering: Which Stock Should You Track

Cummins India vs Kirloskar Oil Engines vs Elecon Engineering starts with the core numbers most investors compare within the Industrial Machinery and Engines segment: market capitalisation, valuation multiples, profitability and dividend yield. Figures below are sourced as of September 2026 and will shift with daily price moves.

All three names sit in the Industrial Machinery and Engines bucket, which makes them a natural set to place side by side rather than a random trio of unrelated businesses.

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Cummins India, Kirloskar Oil Engines and Elecon Engineering: Company Overview

Cummins India is a listed Indian company in the Industrial Machinery and Engines space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.

Kirloskar Oil Engines is a listed Indian company in the Industrial Machinery and Engines space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.

Elecon Engineering is a listed Indian company in the Industrial Machinery and Engines space, tracked here on book value, return ratios and valuation alongside its peers in this comparison.

Cummins India vs Kirloskar Oil Engines vs Elecon Engineering: Valuation and Profitability Snapshot

Metric	Cummins India	Kirloskar Oil Engines	Elecon Engineering
Market Cap (approx.)	Rs 1,37,380 crore	Rs 31,090 crore	Rs 10,272 crore
PE Ratio (TTM)	58.03	58.15	43.51
PB Ratio	16.21	8.59	4.45
Return on Equity (ROE)	27.87%	15.86%	14.79%
EPS (TTM, Rs)	85.40	36.74	10.52
Dividend Yield	1.33%	0.33%	0.44%
Debt to Equity	0.00	1.48	0.12
Book Value per Share (Rs)	305.74	248.76	102.76

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On valuation, Cummins India trades at a PE of 58.03 and a PB of 16.21, Kirloskar Oil Engines at a PE of 58.15 and a PB of 8.59, while Elecon Engineering trades at a PE of 43.51 and a PB of 4.45. On return on equity, the three post 27.87%, 15.86% and 14.79% respectively, and on dividend yield they stand at 1.33%, 0.33% and 0.44%.

Cummins India vs Kirloskar Oil Engines vs Elecon Engineering: Latest Quarterly Results

Company	Latest Quarter Revenue	Latest Quarter Net Profit	YoY Change (Revenue)	QoQ Change (Revenue)
Cummins India	Rs 3,563.35 crore	Rs 609.30 crore	+17.2%	+12.9%
Kirloskar Oil Engines	Rs 2,014.74 crore	Rs 111.06 crore	+12.1%	-5.3%
Elecon Engineering	Rs 542.47 crore	Rs 70.35 crore	+4.9%	-28.9%

Quarterly figures above are the most recent reported quarter for each company (Q1 FY27, quarter ended June 2026), compared with the year-ago and preceding quarter.

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What Should Investors Look at Beyond These Numbers?

Beyond the metrics above, investors comparing these three industrial machinery and engines names should track quarter-on-quarter revenue and margin trends, management commentary on demand and cost drivers, and any sector-specific regulatory developments, since a single-quarter snapshot can shift quickly.

Conclusion

Cummins India vs Kirloskar Oil Engines vs Elecon Engineering highlights how differently three companies in the same industrial machinery and engines segment can score across valuation, profitability and dividend metrics, even when operating in a similar space. This comparison does not declare a winner; investors should weigh these figures against their own research and risk appetite. Please read the disclaimer below before making any investment decision.

FAQs on Cummins India vs Kirloskar Oil Engines vs Elecon Engineering

What is the market cap difference between Cummins India, Kirloskar Oil Engines and Elecon Engineering?

Ans. As of September 2026, Cummins India has a market cap of approximately Rs 1,37,380 crore, Kirloskar Oil Engines is at approximately Rs 31,090 crore, and Elecon Engineering is at approximately Rs 10,272 crore.

Which of the three has the highest PE ratio?

Ans. Among Cummins India, Kirloskar Oil Engines and Elecon Engineering, the PE ratios stand at 58.03, 58.15 and 43.51 respectively as of September 2026.

Which of the three has the highest ROE?

Ans. Cummins India, Kirloskar Oil Engines and Elecon Engineering post ROE of 27.87%, 15.86% and 14.79% respectively as of September 2026.

Which of these three stocks pays the highest dividend yield?

Ans. Cummins India, Kirloskar Oil Engines and Elecon Engineering carry dividend yields of 1.33%, 0.33% and 0.44% respectively.

What is the debt to equity ratio for Cummins India, Kirloskar Oil Engines and Elecon Engineering?

Ans. Cummins India carries a debt to equity of 0.00, Kirloskar Oil Engines of 1.48, and Elecon Engineering of 0.12.

Which of the three trades at the highest price to book value?

Ans. Cummins India, Kirloskar Oil Engines and Elecon Engineering trade at price to book ratios of 16.21, 8.59 and 4.45 respectively.

Is one of Cummins India, Kirloskar Oil Engines or Elecon Engineering better than the others?

Ans. This comparison does not declare one stock better than another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor's own criteria and research.