Cummins India share price falls 7% after parent company withdraws full-year guidance

Cummins India share price fell over 7 per cent on Tuesday, May 6, to ₹2,774 apiece on the National Stock Exchange (NSE) after its parent company withdrew its full-year guidance owing to tariff measures imposed by US President Donald Trump and posted its March 2025 quarter earnings.

Cummins CEO Jennifer Rumsey announced that the company is withdrawing its full-year forecast because of increasing economic uncertainty caused by tariffs.

“While the outlook for the remainder of the year remains unclear, we remain confident in our position and that our Destination Zero strategy is the right one. Cummins is in a strong position to navigate through economic uncertainty, and we look forward to reinstating our forecast when conditions allow,” said CEO Rumsey.

Cummins Inc Q4 results 2025

Cummins Inc. had previously projected overall revenue growth to range from a 2% decline to a 3% increase. At the parent company level, PowerGen revenues were expected to rise between 5% and 15%.

For the Indian market, the company anticipated a 10% revenue growth, which also accounted for its unlisted joint venture entities.

All previous guidance has now been withdrawn due to the uncertainty created by US President Donald Trump’s tariff war.

In the March quarter, total revenue from Cummins' operations in India—including its joint ventures—fell by 14% compared to the same period last year. Among these joint ventures, Cummins India is the only publicly listed company.

The PowerGen segment in India experienced an 11% revenue decline year-over-year, primarily because the prior year's figures were boosted by advance purchases ahead of upcoming emission regulation changes.

Since Cummins India’s performance is closely tied to the PowerGen segment, this revenue drop negatively impacts the outlook for the listed Indian entity.

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