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Cummins India Ltd.

BSE: 500480 Sector: Engineering
NSE: CUMMINSIND ISIN Code: INE298A01020
BSE 16:01 | 22 Nov 768.10 -18.95
(-2.41%)
OPEN

788.55

HIGH

790.65

LOW

763.00

NSE 15:59 | 22 Nov 768.50 -17.75
(-2.26%)
OPEN

790.00

HIGH

796.10

LOW

766.05

OPEN 788.55
PREVIOUS CLOSE 787.05
VOLUME 23965
52-Week high 993.45
52-Week low 611.75
P/E 29.25
Mkt Cap.(Rs cr) 21,292
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 788.55
CLOSE 787.05
VOLUME 23965
52-Week high 993.45
52-Week low 611.75
P/E 29.25
Mkt Cap.(Rs cr) 21,292
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Cummins India Ltd. (CUMMINSIND) - Company History

Cummins India Ltd is a leading manufacturer of diesel and natural gas engines. The company operates in three business segments: Engine Power Systems and Distribution. 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. 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. The Distribution Business was acquired in 1967 with the objective of providing products packages services and solutions for uptime of Cummins equipments. Through its country-wide network of 31 authorized dealerships over 200 branch offices and 450 service touch points the business provides parts new and rebuilt engines batteries services and customer support solutions to products manufactured by Cummins. This network offers a strong team of more than 5000 company trained engineers and technicians who handle service events of 350000 engines on the field serving over 100000 customers across various markets in India Nepal and Bhutan.Cummins India Limited is a 51 percent subsidiary of Cummins Inc. USA. the world's largest independent designer and manufacturer of diesel engines above 200 HP. Cummins India Ltd was incorporated in the year 1962 with the name Kirloskar Cummins Ltd. Kirloskar Oil Engines Ltd and Cummins Company Inc. Columbus USA promoted the company. The company started their operations in Pune. The partnership continued to flourish till up till 1997 when the Kirloskar sold their ownership in the company. Also Cummins Inc. increased their stake to 51% and the rest being traded on the Bombay Stock Exchange. This led to the formation of Cummins India Ltd a consolidated subsidiary of Cummins Inc. In the year 1987 the joint venture Fleetguard Filters Pvt Ltd was formed between Cummins Filtration Inc. and Perfect Sealing Systems Pvt Ltd to manufacture air fuel oil and water filters for Cummins and other engine manufacturers. In the year 1989 the company started another joint venture with Crompton Greaves & Newage and formed CG Newage Ltd. Crompton sold its holding to Cummins in 2002. In 2006 Cummins took over completely and the entity began operating under the name of Cummins Generator Technologies India Limited. Three manufacturing facilities each in Pune Ahmednagar and Ranjangaon manufacture alternators ranging from 5 to 2000 kVA. Aligned with the Corporation's initiatives towards a cleaner and healthier environment the plant in Ranjangaon set up in 2007 is the first green plant in India.In the year 1993 Cummins Inc. and Tata Motors Ltd formed another joint venture Tata Cummins Ltd to produce mid-range engines for Tata Motors' commercial vehicles. With a manufacturing plant at Jamshedpur and a second plant at Phaltan in Maharashtra Tata Cummins Limited remains a significant contributor to Cummins' profitable growth in India. In the year 1998 Valvoline Cummins Ltd was started as a 50:50 joint venture between Cummins India Ltd and Ashland that manufactures automotive lubricants transmission fluids gear oils hydraulic lubricants automotive filters specialty products greases and cooling system products. The entity is headquartered in Delhi with a manufacturing facility at Panvel.In the year 2002 Cummins Infotech Ltd was merged into KPIT Infosystems Ltd to form KPIT Cummins Infosystems Ltd a global IT consulting and product engineering partner to manufacturing and financial services organizations. In the year 2003 Cummins Research Technology India Ltd was started in Pune as part of a global effort to perform low-cost high-quality engineering work. It was the first and so far the only Cummins research center to be built without physical laboratories. The facility uses the latest computer technology to support design and analysis for Cummins worldwide. In the year 2008 Cummins Technologies India Ltd was formed. During the year 2009-10 as per the scheme of amalgamation Cummins Sales & Services India Ltd (CSS) and Cummins Auto Services Ltd (CASL) were amalgamated with the company with effect from April 01 2008. The scheme became operative on April 1 2009. On 26 January 2011 Cummins Inc. announced that it has entered into an agreement to sell its exhaust business to Global Tube a portfolio company of Wind Point Partners a private equity firm headquartered in Chicago. Consequently the joint venture partners in India; Cummins India Limited and Cummins Filtration Inc. USA will be divesting their shares in Cummins Exhaust India Limited. In April 2011 the company divested their entire 2 million shares held in Cummins Exhaust India Ltd for a consideration of Rs 5344 lakh.On 4 August 2011 Cummins India announced that the company's Board of Directors has recommended issue of Bonus Shares in the proportion of 2:5 i.e. 2 (two) Bonus equity shares of Rs. 2/- each for every 5 (five) existing equity shares of Rs. 2/- each fully paid up by capitalization of reserves of the company.In 2011 Cummins SVAM Sales and Service Ltd. was incorporated as a 50:50 joint venture dealership between Cummins India Ltd. and SVAM.On 9 May 2012 the Power Generation Business of Cummins India announced a price increase of up to 3 percent for its diesel generator sets and generator set engines in the range of 7.5 kVA and 3000 kVA owing to the current industry dynamics and projected market conditions. The price increase will be effective from 1 June 2012.On 29 November 2012 the power generation business of Cummins India announced a price increase of up to 3 percent for its diesel generator sets and generator set engines in the range of 7.5 kVA and 3000 kVA. The price increase will be effective from 1 January 2013.On 18 December 2013 Cummins India announced the launch of its power generation product line compliant with the new environmental norms.On 11 August 2016 the Power Systems business of Cummins India announced the launch of the new 250 kVA generator set based on the L9 (8.9 litres) engine platform. With this launch the company adds another technologically advanced solution to its existing 7.5 kVA to 3750 kVA range of generator sets the widest range offered to the Indian market by a single manufacturer.