
Kirloskar Oil Engines vs Cummins India: Which Stock Should You Track
Kirloskar Oil Engines MCap Rs 32,211 Cr, PE 57.26x, ROE 15.86%, D/E 1.48. Cummins India MCap Rs 1,52,377 Cr, PE 64.52x, ROE 27.87%, zero debt.
Updated: 5 Aug 2026 • 10:08 am
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Kirloskar Oil Engines vs Cummins India is a comparison industrial engine investors look up when evaluating two leading Indian diesel and gas engine manufacturers. Kirloskar Oil Engines is an Indian promoter-managed engine maker serving power generation, agriculture, marine and industrial applications, while Cummins India is the Indian subsidiary of Cummins Inc. USA, making industrial, power generation and high-horsepower engines.
This Kirloskar Oil Engines vs Cummins India article covers reach and market position, key products, latest declared results and stock valuation. The Kirloskar Oil Engines vs Cummins India data below is sourced from Groww and public company filings and reflects the most recently available information at the time of writing.
Kirloskar Oil Engines vs Cummins India: Reach and Market Position
On the Kirloskar Oil Engines side of the Kirloskar Oil Engines vs Cummins India comparison, Kirloskar Oil Engines distributes engines and gensets through a dealer and OEM network across India and exports to global markets. The company serves agriculture, marine, construction and power generation segments. Market capitalisation is Rs 32,211 Cr.
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On the Cummins India side of the Kirloskar Oil Engines vs Cummins India comparison, Cummins India supplies high-horsepower diesel and gas engines to data centres, railways, defence, power generation and industrial applications. It exports significant volumes to Cummins Inc. globally. Market capitalisation is Rs 1,52,377 Cr.
Kirloskar Oil Engines vs Cummins India: Key Products and Business Mix
In the Kirloskar Oil Engines vs Cummins India product comparison, Kirloskar Oil Engines offers: Kirloskar Oil Engines makes diesel gensets, industrial engines, high horse power engines and pumps. P/E is 57.26x, ROE 15.86 percent, debt to equity 1.48.
For Cummins India in this Kirloskar Oil Engines vs Cummins India breakdown: Cummins India makes diesel and gas power systems for data centres, industrial applications, railways and defence. P/E is 64.52x, ROE 27.87 percent, zero debt.
Kirloskar Oil Engines vs Cummins India: Latest Results
The Kirloskar Oil Engines vs Cummins India results for Kirloskar Oil Engines: Kirloskar Oil Engines has a market cap of Rs 32,211 Cr and P/E of 57.26x. ROE is 15.86 percent. EPS is Rs 38.66.
The Kirloskar Oil Engines vs Cummins India results for Cummins India: Cummins India has a market cap of Rs 1,52,377 Cr and P/E of 64.52x. ROE is 27.87 percent with zero debt. Dividend yield is 1.20 percent. EPS is Rs 85.20.
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Kirloskar Oil Engines vs Cummins India: Stock and Valuation
The Kirloskar Oil Engines vs Cummins India stock comparison uses the latest available market data from Groww. Investors tracking Kirloskar Oil Engines vs Cummins India should verify current prices on NSE or BSE before trading.
Kirloskar Oil Engines trades at a market cap of Rs 32,211 Cr and P/E of 57.26x, with a moderate ROE of 15.86 percent. Cummins India trades at Rs 1,52,377 Cr market cap and P/E of 64.52x with a materially higher ROE of 27.87 percent and zero debt. Cummins India is nearly 5 times larger by market cap and delivers a significantly higher return on equity.
Kirloskar Oil Engines vs Cummins India: Quick Comparison Table
The Kirloskar Oil Engines vs Cummins India comparison table below summarises the key metrics covered in this article side by side.
| Parameter | Kirloskar Oil Engines | Cummins India |
|---|---|---|
| Sector | Industrial engines and gensets | Industrial engines: data centre, defence, railways |
| Market Cap | Rs 32,211 Cr | Rs 1,52,377 Cr |
| P/E Ratio | 57.26x | 64.52x |
| ROE | 15.86% | 27.87% |
| Debt to Equity | 1.48 | 0.00 |
| Parent | Indian promoter-managed (Kirloskar Group) | Cummins Inc. USA (subsidiary) |
| Key end markets | Agriculture, marine, industrial gensets | Data centres, railways, defence, industrial |
Conclusion
The Kirloskar Oil Engines vs Cummins India comparison above covers the key data points on reach, products, results and valuation. Kirloskar Oil Engines vs Cummins India are two diesel engine makers with different scale and return profiles. Cummins India is far larger, delivers a much higher ROE with zero debt and serves high-value end markets like data centres and railways, while Kirloskar Oil Engines is a broader market player at a cheaper valuation per rupee of earnings. Investors should review end market demand trends and consult a SEBI-registered advisor before investing.
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Disclaimer: Data and figures in this article are sourced from publicly available information, including company results filings and exchange data, and are current as of the time of writing. 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 main difference between Kirloskar Oil Engines and Cummins India?
Ans. Kirloskar Oil Engines is an Indian promoter-managed engine maker serving agriculture, marine and genset markets. Cummins India is a subsidiary of Cummins Inc. USA making high-value engines for data centres, railways and defence.
Which company has the higher ROE?
Ans. Cummins India has an ROE of 27.87 percent, significantly higher than Kirloskar Oil Engines at 15.86 percent.
Which stock trades at a lower P/E?
Ans. Kirloskar Oil Engines trades at 57.26x trailing earnings, lower than Cummins India at 64.52x.
Does Cummins India carry any debt?
Ans. No. Cummins India has zero financial debt, reflecting its highly profitable and capital-efficient operations.
Why does Cummins India have such a high ROE?
Ans. Cummins India benefits from its global parent's technology, brand and export relationships, serving premium end markets like data centre generators and railway engines that command high margins.
What risks apply to industrial engine companies?
Ans. Both companies face risk from commodity cost volatility, competition from imported engines, and any slowdown in power generation, infrastructure or data centre investments.
Should I invest in Kirloskar Oil Engines or Cummins India?
Ans. This depends on your preference between a smaller, cheaper stock and a high-quality subsidiary of a global engine maker. Review end market demand and consult a SEBI-registered advisor before investing.
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