Cummins India Ltd Stock Analysis

Cummins India Limited is the country’s leading manufacturer of diesel and natural gas engines. One of the seven legal entities of the Cummins Group in India, Cummins India Limited comprises three business units - Engine, Power Systems, and Distribution.

Business area of the company

The company is engaged in the business of manufacturing, trading and selling of engines and allied activities.

Business units

• Engine: The Engine Business manufactures engines from 60 HP for low, medium and heavy-duty on-highway commercial vehicle markets and off-highway commercial equipment industry spanning construction and compressor.  
  
• Power Systems: The Power Systems Business designs and manufactures high horsepower engines from 700 HP to 4500 HP for marine, railways, defense and mining applications as well as power generation systems comprising of integrated generator sets in the range of 7.5 kVA to 3750 kVA including transfer switches, paralleling switchgear and controls for use in standby, prime and continuous rated systems.
  
• Distribution: The Distribution Business provides products, packages, services and solutions for uptime of Cummins equipment.

Products and Services

• Engines
  
• Generators & Power Systems
  
• Components
  
• Electrified Power

Awards

2011

• Won the BG Deshmukh Award from Mahratha Chamber of Commerce, Industries and Agriculture (MCCIA), Pune for its efforts towards Corporate Social Responsibility in 2011 and 2013
  
• Ranjangaon plant of Cummins Generator Technologies India received a Gold Rating from Indian Green Building Council (IGBC)
  
• Confederation of Indian Industry (CII) presented Cummins India with the 11th National Award for ‘Excellence in Energy Management 2010’ for the rural electrification project

2012

• Cummins India named Best Employer for Women in Corporate India by the WILL Forum
  
• Cummins received the Engineering Export Promotion Council’s National Award in the category of ‘Engines, Turbines and Parts: Large Enterprise’ for the 24th successive year

2013

• Tata Cummins - Jamshedpur named a Silver award winner for the automotive sector at the 14th Annual Greentech Awards

2014

• Cummins India ranked 29th on the list of ‘Best Companies for CSR in India’ by the Economic Times
  
• The ‘Water Neutrality’ and ‘Model Village’ programs by Cummins were presented the ‘Best Project Award’ under Lakshya’s Corporate Social Responsibility initiative - Sparsha

2015

• Cummins India ranked 16th on the list of ‘Best Companies for CSR in India’ by the Economic Times
  
• The ‘Water Neutrality’ and ‘Model Village’ programs by Cummins were presented the ‘Best Project Award’ under Lakshya’s Corporate Social Responsibility initiative - Sparsha

2016

• Three Six Sigma projects won accolades at the Lean and Six Sigma Excellence Awards (LSSEA)
  
• CII National Award for the categories of ‘Safety’ and ‘Energy and Cost’ to Cummins India Power Systems Exports Plant 
  
• Frost & Sullivan India Manufacturing Excellence Award (IMEA) for 'Reduction of testing KWh per engine by 20% with respect to 2015'

2017

• Cummins India wins ‘Significant Achievement in Corporate Responsibility’ award at the CII-ITC Sustainability Awards.

2018

• Cummins India wins ‘Significant Achievement in Corporate Responsibility’ award at the CII-ITC Sustainability Awards. 
  
• Cummins India wins Golden Peacock for Business Excellence 2019

2019

• Global Analytics Center (GAC) India center wins the NASSCOM Global Capability Center Award 2019 at GCC Conclave
  
• TATA Cummins Jamshedpur wins Kaizen National Award in the category of 'Innovations’
  
• Cummins India wins ‘Excellence in Quality’ and ‘Excellence in Human Resources’ awards by Manufacturing Today
  
• Cummins India wins Golden Peacock for Business Excellence 2019

Milestones

• 1962: Erstwhile Cummins Engine Company Inc. (CECO), U.S.A and Kirloskar Oil Engines Limited (KOEL) established a joint venture with 50% ownership by CECO, 25.50% by KOEL and 24.50% floated on the Bombay Stock Exchange
  
• 1987: Formed a 50:50 joint venture named Fleetguard Filters Private Limited between Cummins Filtration Inc. and Perfect Sealing Systems Private Limited
  
• 1989: Formed a 51:49 joint venture between Newage (now Cummins Generator Technologies) and Crompton Greaves to design and manufacture alternators for generators
  
• 1991: Cummins Diesel India Foundation collaborates with Maharshi Karve Stree Shikshan Samstha (MKSSS) to set up the first all women engineering college in India. The College is named Cummins College of Engineering for Women (CCEW).
  
• 1993: Formed Tata Cummins as a 50:50 joint venture between Cummins Engine Company Inc. and Tata Engineering and Locomotive Company (TELCO) to serve the medium and heavy commercial vehicle market.
  
• 1995: Tata Group and Holset (now Cummins Turbo Technologies) form Tata Holset, a 50:50 joint venture to design and manufacture turbochargers
  
• 1997: Cummins Inc. increases its stake in Kirloskar Cummins to 51%, Kirloskar Oil Engines largely divests its stake and Cummins India Ltd. is incorporated with the other 49% ownership floated on the Bombay Stock Exchange.
  
• 1998: Valvoline Cummins, a 50:50 joint venture between Ashland Inc. and Cummins India Limited is formed to manufacture lubricants
  
• 2003: Cummins Research and Technologies Incorporated is formed as a 50:50 joint venture between Cummins Inc. and Cummins India Ltd. to provide Analysis Led Design engineering services to all of Cummins globally
  
• 2011: Cummins Megasite is inaugurated. Three plants become operational - the second plant of Tata Cummins Limited, High Horsepower Rebuild Center and ReCon India. The fourth plant on the Megasite, India Parts Distribution Center becomes operational later in the year.
  
• 2011: Cummins SVAM Sales and Service Ltd., a 50:50 joint venture dealership between Cummins India Ltd. and SVAM is incorporated.
  
• 2014: Cummins India Office Campus, the first integrated ten acre office campus is inaugurated to accommodate office employees across all the group entities in India.
  
• 2014: Eighth project at the Megasite and the third facility of Tata Cummins Ltd., commences operations.
  
• 2018: Inaugurated Cummins Technical Center India (CTCI)
  
• 2018: Established Power Systems Plant at Pirangut
  
• 2019: Cummins Launches New Ignition Protected Marine Generator
  
• 2020: Cummins expands range of ignition-protected marine generators