20-quarter listed-company comparison

Gensets Stocks in India

Gensets: Cummins India Ltd owns the largest revenue base; Kirloskar Oil Engines Ltd has the fastest current growth.

01 · the index people search for

Nifty Gensets Index — Constituents & Performance

All 2 listed Indian Gensets companies are named here, largest first — the same constituent set people search for as the Nifty Gensets index. Every figure on this page is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

Cummins India Ltd₹1.5 L Cr
Kirloskar Oil Engines Ltd₹30.6K Cr

02 · sector relative strength, before individual stocks

Is Gensets outperforming NIFTY 500?

Gensets has outperformed NIFTY 500 by 83.6% over the last 52 weeks. Over 13 weeks the gap is a lead of 6.8%. 2 of 2 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Kirloskar Oil Engines Ltd is the strongest against the sector itself at +13.1%.

+6.8%Sector vs NIFTY 500 · 13 weeks

+83.6%Sector vs NIFTY 500 · 52 weeks

2/2Stocks leading NIFTY 500

1/2Stocks leading sector

Sector metric: — as of latest available · unclassified · direction unavailable.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

Gensets has outperformed NIFTY 500 by 83.6% over 52 weeks and 6.8% over 13 weeks. 2 of 2 covered companies beat NIFTY on Mansfield relative strength, while 1 of 2 beat the sector itself. Cummins India Ltd leads with revenue of ₹12,662 crore, based on 2 of 2 comparable companies through Jun 2026.

Companies

complete canonical membership

Combined market value

₹1.8 L Cr

Cummins India Ltd

Revenue growing

2/2

positive TTM year-on-year growth

Beating NIFTY 500

2/2

positive Mansfield relative strength

Comparing 2 of 2

03 · research priority, made explicit

Best Gensets Stocks in India (Aug 2026), Ranked by Data

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%

Kirloskar Oil Engines Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 97% evidence confidence.

Kirloskar Oil Engines Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.

How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

Top 10 Gensets Stocks in India

Company	Score	Price stage	Growth & earnings/35	Capital efficiency/25	Valuation/20	Relative strength/20
1Kirloskar Oil Engines LtdKIRLOSENG	53.6/100Mixed-positive evidence97% evidence	LEADER	17.2/35 Revenue 22.7% · PAT 16.3% · OPM change -4 pp 100% evidence	12.3/25 ROCE 14.6% · OPM 15% 100% evidence	4.6/20 P/E 53.6× · PEG 2.16 85% evidence	19.5/20 RS sector 13.1% · RS bench 42.8% · 1Y 132.1%12 of 12 weeks ahead 100% evidence
Exact sum: 17.2 + 12.3 + 4.6 + 19.5 = 53.6 · Decision use: Price leads the evidence: RS versus the benchmark is 42.8%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
2Cummins India LtdCUMMINSIND	41.0/100Mixed-negative evidence97% evidence	ASLEEP	14.5/35 Revenue 15.3% · PAT 10.5% · OPM change -3 pp 100% evidence	19.5/25 ROCE 39.5% · OPM 18% 100% evidence	1.9/20 P/E 61.4× · PEG 3.04 85% evidence	5.1/20 RS sector -15.2% · RS bench 11.7% · 1Y 41.8%7 of 12 weeks ahead 100% evidence
Exact sum: 14.5 + 19.5 + 1.9 + 5.1 = 41 · Decision use: Strong business, demanding price: keep it on the quality list, but require either earnings upgrades or valuation compression.

04 · what price has already done

Market action

Kirloskar Oil Engines Ltd has the strongest one-year price move in Gensets at +132.1%. It also leads on Mansfield relative strength against NIFTY at +42.8%. 2 of 2 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-08-14.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

05 · the story behind the numbers

Gensets — the story behind the numbers

This is the written read behind the Gensets figures above — what is actually happening in the sector, in words, with the evidence each claim rests on. It is dated 17 Apr 2026, so the words are older than the numbers. 5 themes are live here, 1 of them rated high severity.

The sector is navigating a complex environment characterized by geopolitical headwinds and commodity inflation, yet it is supported by a clear shift toward high-margin, advanced products.

The Gensets sector presents a divided performance landscape for Q3 FY26. KIRLOSENG delivered 29% year-on-year revenue growth to INR 1,873 crores and a 90% surge in PAT to INR 126 crores. Conversely, CUMMINSIND reported a 1% year-on-year revenue decline to INR 3,006 crores, weighed down by a 16% contraction in domestic Power Gen sales and a 14% drop in low horsepower exports.

How old this read is: STALE — this read comes from our Gensets sector brief dated 17 Apr 2026, about 4 months ago. The page says so rather than dressing it up, and a fresh sector dive replaces it the day it runs.

What is live in this sector right now

Live theme	Severity	Evidence on file
Geopolitical volatility and tariff-related equations are impacting export markets and overall demand cycles.Named for CUMMINSIND, KIRLOSENG	high	“I think the biggest risk probably will be geopolitical at this point, given the volatility that we see.” Managements are focusing on domestic consumption targets and pushing for specific product pickups in regions like the U.S. to offset external volatility.
Rising raw material costs, specifically copper reaching INR 1,320 per kg, are pressuring gross margins.Named for CUMMINSIND, KIRLOSENG	medium	“The alternator business does get hugely impacted by copper, and copper has been inching upwards. Recent numbers are around INR1,320 per kg.” Companies are attempting to pass costs down to the market with a delay and managing product mix to maintain margins.
Currency benefits are minimal, with margins primarily dependent on product mix.Named for CUMMINSIND	low	“Currency benefit, not so much. Mix is largely dependent on our own product mix.” Management focuses on product mix rather than relying on exchange rate movements.
Evaluating the impact of EU FDA regulations on direct exports to the European region.Named for CUMMINSIND	low	“Mohit, EU FDA, we do have some business where we directly export to the EU region. So, we are evaluating the impact.” Management currently views the potential impact as hypothetically positive.
Delayed monsoons in October slowed construction activity and excavator sales.Named for CUMMINSIND	low	“And then there was delayed monsoons in October. So, excavator sales did not pick up as much as they should have.” Management expects construction activity to improve following the announcement of a new incentive scheme.

Sources: our Gensets sector brief, 17 Apr 2026 · company earnings-call transcripts.

06 · compare level, then change

Revenue Scale & Growth Durability

Cummins India Ltd has the highest Revenue among the 2 Gensets companies compared here, at ₹12,662 crore. Kirloskar Oil Engines Ltd is next at ₹7,937 crore. Kirloskar Oil Engines Ltd has the highest Revenue growth at 22.7%, so level and change sit with different companies. 2 of 2 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Cummins India Ltd is the scale leader at ₹12,662 crore, 59.5% ahead of Kirloskar Oil Engines Ltd. Kirloskar Oil Engines Ltd's growth is 22.7% from a ₹7,937 crore base, with 20 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderCummins India Ltd · ₹12,662 crore

Gap59.5% versus #2 · Kirloskar Oil Engines Ltd

Persistence7/8 recent comparable periods

Coverage2/2 companies · 40 observations

Investor read: Cummins India Ltd is the scale benchmark; Kirloskar Oil Engines Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Cummins India Ltd's growth falls below Kirloskar Oil Engines Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenuelargest

1Cummins India Ltd CUMMINSIND₹12.7K Cr

2Kirloskar Oil Engines Ltd KIRLOSENG₹7.9K Cr

Revenue growthfastest growers

1Kirloskar Oil Engines Ltd KIRLOSENG23%

2Cummins India Ltd CUMMINSIND15%

Revenue · company comparison

2/2 level · 2/2 change

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
Cummins India Ltd CUMMINSIND	₹3.4K Cr	18%	Jun 2026
Kirloskar Oil Engines Ltd KIRLOSENG	₹2.0K Cr	14%	Jun 2026

Full 20-quarter history · every available company

Revenue · reported quarter history

Cummins India Ltd · CUMMINSIND

Sep 2021₹1.7K Cr

Dec 2021₹1.7K Cr

Mar 2022₹1.5K Cr

Jun 2022₹1.7K Cr

Sep 2022₹2.0K Cr

Dec 2022₹2.2K Cr

Mar 2023₹1.9K Cr

Jun 2023₹2.2K Cr

Sep 2023₹1.9K Cr

Dec 2023₹2.5K Cr

Mar 2024₹2.3K Cr

Jun 2024₹2.3K Cr

Sep 2024₹2.5K Cr

Dec 2024₹3.1K Cr

Mar 2025₹2.5K Cr

Jun 2025₹2.9K Cr

Sep 2025₹3.2K Cr

Dec 2025₹3.1K Cr

Mar 2026₹3.0K Cr

Jun 2026₹3.4K Cr

Kirloskar Oil Engines Ltd · KIRLOSENG

Sep 2021₹1.0K Cr

Dec 2021₹1.0K Cr

Mar 2022₹1.2K Cr

Jun 2022₹1.2K Cr

Sep 2022₹1.0K Cr

Dec 2022₹1.2K Cr

Mar 2023₹1.4K Cr

Jun 2023₹1.5K Cr

Sep 2023₹1.3K Cr

Dec 2023₹1.4K Cr

Mar 2024₹1.7K Cr

Jun 2024₹1.6K Cr

Sep 2024₹1.5K Cr

Dec 2024₹1.5K Cr

Mar 2025₹1.7K Cr

Jun 2025₹1.8K Cr

Sep 2025₹1.9K Cr

Dec 2025₹1.9K Cr

Mar 2026₹2.1K Cr

Jun 2026₹2.0K Cr

Revenue growth · reported quarter history

Cummins India Ltd · CUMMINSIND

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202242%

Sep 202213%

Dec 202225%

Mar 202329%

Jun 202331%

Sep 2023-1.8%

Dec 202316%

Mar 202420%

Jun 20244.4%

Sep 202431%

Dec 202422%

Mar 20256.5%

Jun 202526%

Sep 202526%

Dec 2025-1.3%

Mar 202622%

Jun 202618%

Kirloskar Oil Engines Ltd · KIRLOSENG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202245%

Sep 20220.9%

Dec 202220%

Mar 202317%

Jun 202330%

Sep 202329%

Dec 202314%

Mar 202420%

Jun 20245.8%

Sep 202415%

Dec 20244.5%

Mar 20255.4%

Jun 20258.0%

Sep 202529%

Dec 202529%

Mar 202621%

Jun 202614%

07 · compare level, then change

Operating Economics & Margin Trend

Cummins India Ltd has the highest OPM among the 2 Gensets companies compared here, at 18%. Kirloskar Oil Engines Ltd is next at 15%. The same company also holds the highest Margin change, at -3 percentage points. 2 of 2 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Cummins India Ltd leads both opm at 18% and margin change at -3 percentage points.

LeaderCummins India Ltd · 18%

Gap20% versus #2 · Kirloskar Oil Engines Ltd

Persistence4/8 recent comparable periods

Coverage2/2 companies · 40 observations

Investor read: Cummins India Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

OPMhighest

1Cummins India Ltd CUMMINSIND18%

2Kirloskar Oil Engines Ltd KIRLOSENG15%

Margin changefastest expanders

1Cummins India Ltd CUMMINSIND−3.0 pp

2Kirloskar Oil Engines Ltd KIRLOSENG−4.0 pp

Operating margin · company comparison

2/2 level · 2/2 change

All-company data · latest reported quarter

Company	OPM	Margin change	Reported
Cummins India Ltd CUMMINSIND	18%	−3.0 pp	Jun 2026
Kirloskar Oil Engines Ltd KIRLOSENG	15%	−4.0 pp	Jun 2026

Full 20-quarter history · every available company

OPM · reported quarter history

Cummins India Ltd · CUMMINSIND

Sep 202115%

Dec 202116%

Mar 202214%

Jun 202213%

Sep 202215%

Dec 202219%

Mar 202317%

Jun 202315%

Sep 202318%

Dec 202321%

Mar 202423%

Jun 202420%

Sep 202419%

Dec 202419%

Mar 202521%

Jun 202521%

Sep 202522%

Dec 202521%

Mar 202621%

Jun 202618%

Kirloskar Oil Engines Ltd · KIRLOSENG

Sep 20219.7%

Dec 20218.6%

Mar 202212%

Jun 202215%

Sep 202211%

Dec 202216%

Mar 202314%

Jun 202317%

Sep 202315%

Dec 202319%

Mar 202418%

Jun 202420%

Sep 202420%

Dec 202418%

Mar 202518%

Jun 202519%

Sep 202520%

Dec 202518%

Mar 202618%

Jun 202615%

Margin change · reported quarter history

Cummins India Ltd · CUMMINSIND

Sep 2021+0.6 pp

Dec 2021−1.3 pp

Mar 2022+0.4 pp

Jun 2022+0.3 pp

Sep 2022−0.2 pp

Dec 2022+3.4 pp

Mar 2023+3.1 pp

Jun 2023+2.3 pp

Sep 2023+3.2 pp

Dec 2023+2.0 pp

Mar 2024+6.0 pp

Jun 2024+5.0 pp

Sep 2024+1.0 pp

Dec 2024−2.0 pp

Mar 2025−2.0 pp

Jun 2025+1.0 pp

Sep 2025+3.0 pp

Dec 2025+2.0 pp

Mar 20260.0 pp

Jun 2026−3.0 pp

Kirloskar Oil Engines Ltd · KIRLOSENG

Sep 2021−3.4 pp

Dec 2021−4.0 pp

Mar 2022−1.4 pp

Jun 2022+4.4 pp

Sep 2022+1.3 pp

Dec 2022+7.4 pp

Mar 2023+1.9 pp

Jun 2023+2.5 pp

Sep 2023+4.0 pp

Dec 2023+3.0 pp

Mar 2024+4.0 pp

Jun 2024+3.0 pp

Sep 2024+5.0 pp

Dec 2024−1.0 pp

Mar 20250.0 pp

Jun 2025−1.0 pp

Sep 20250.0 pp

Dec 20250.0 pp

Mar 20260.0 pp

Jun 2026−4.0 pp

08 · compare level, then change

Profit Scale & Acceleration

Cummins India Ltd has the highest Net profit among the 2 Gensets companies compared here, at ₹2,366 crore. Kirloskar Oil Engines Ltd is next at ₹534 crore. Kirloskar Oil Engines Ltd has the highest Profit growth at 16.3%, so level and change sit with different companies. 2 of 2 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Cummins India Ltd leads with ₹2,366 crore of TTM profit, 343.1% above Kirloskar Oil Engines Ltd. Kirloskar Oil Engines Ltd shows 16.3% growth from a ₹534 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderCummins India Ltd · ₹2,366 crore

Gap343.1% versus #2 · Kirloskar Oil Engines Ltd

Persistence6/8 recent comparable periods

Coverage2/2 companies · 40 observations

Investor read: Cummins India Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profitlargest

1Cummins India Ltd CUMMINSIND₹2.4K Cr

2Kirloskar Oil Engines Ltd KIRLOSENG₹534 Cr

Profit growthfastest growers

1Kirloskar Oil Engines Ltd KIRLOSENG16%

2Cummins India Ltd CUMMINSIND11%

Net profit · company comparison

2/2 level · 2/2 change

All-company data · latest reported quarter

Company	Net profit	Profit growth	Reported
Cummins India Ltd CUMMINSIND	₹609 Cr	0.8%	Jun 2026
Kirloskar Oil Engines Ltd KIRLOSENG	₹111 Cr	-20%	Jun 2026

Full 20-quarter history · every available company

Net profit · reported quarter history

Cummins India Ltd · CUMMINSIND

Sep 2021₹221 Cr

Dec 2021₹250 Cr

Mar 2022₹216 Cr

Jun 2022₹198 Cr

Sep 2022₹267 Cr

Dec 2022₹414 Cr

Mar 2023₹349 Cr

Jun 2023₹354 Cr

Sep 2023₹329 Cr

Dec 2023₹499 Cr

Mar 2024₹539 Cr

Jun 2024₹463 Cr

Sep 2024₹449 Cr

Dec 2024₹558 Cr

Mar 2025₹530 Cr

Jun 2025₹604 Cr

Sep 2025₹622 Cr

Dec 2025₹486 Cr

Mar 2026₹649 Cr

Jun 2026₹609 Cr

Kirloskar Oil Engines Ltd · KIRLOSENG

Sep 2021₹42 Cr

Dec 2021₹29 Cr

Mar 2022₹68 Cr

Jun 2022₹82 Cr

Sep 2022₹73 Cr

Dec 2022₹88 Cr

Mar 2023₹79 Cr

Jun 2023₹126 Cr

Sep 2023₹78 Cr

Dec 2023₹89 Cr

Mar 2024₹147 Cr

Jun 2024₹156 Cr

Sep 2024₹125 Cr

Dec 2024₹68 Cr

Mar 2025₹127 Cr

Jun 2025₹139 Cr

Sep 2025₹159 Cr

Dec 2025₹109 Cr

Mar 2026₹155 Cr

Jun 2026₹111 Cr

Profit growth · reported quarter history

Cummins India Ltd · CUMMINSIND

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-20%

Sep 202221%

Dec 202266%

Mar 202362%

Jun 202379%

Sep 202323%

Dec 202321%

Mar 202454%

Jun 202431%

Sep 202436%

Dec 202412%

Mar 2025-1.7%

Jun 202530%

Sep 202539%

Dec 2025-13%

Mar 202622%

Jun 20260.8%

Kirloskar Oil Engines Ltd · KIRLOSENG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022156%

Sep 202274%

Dec 2022203%

Mar 202316%

Jun 202354%

Sep 20236.9%

Dec 20231.1%

Mar 202486%

Jun 202424%

Sep 202460%

Dec 2024-24%

Mar 2025-14%

Jun 2025-11%

Sep 202527%

Dec 202560%

Mar 202622%

Jun 2026-20%

09 · compare level, then change

Return On Capital Employed

Cummins India Ltd has the highest ROCE among the 2 Gensets companies compared here, at 39.5%. Kirloskar Oil Engines Ltd is next at 14.6%. The same company also holds the highest ROCE change, at -0.7 percentage points. 2 of 2 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Cummins India Ltd leads ROCE at 39.5%, 24.9 percentage points above Kirloskar Oil Engines Ltd. Cummins India Ltd has the strongest latest improvement at -0.7 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderCummins India Ltd · 39.5%

Gap170.5% versus #2 · Kirloskar Oil Engines Ltd

Persistence6/8 recent comparable periods

Coverage2/2 companies · 32 observations

Investor read: Cummins India Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

ROCEhighest

1Cummins India Ltd CUMMINSIND40%

2Kirloskar Oil Engines Ltd KIRLOSENG15%

ROCE changefastest improvers

1Cummins India Ltd CUMMINSIND−0.7 pp

2Kirloskar Oil Engines Ltd KIRLOSENG−1.2 pp

Return on capital · company comparison

2/2 level · 2/2 change

All-company data · latest reported quarter

Company	ROCE	ROCE change	Reported
Cummins India Ltd CUMMINSIND	37%	−0.7 pp	Jun 2026
Kirloskar Oil Engines Ltd KIRLOSENG	18%	−1.2 pp	Jun 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

Cummins India Ltd · CUMMINSIND

Sep 202117%

Dec 2021—

Mar 202217%

Jun 2022—

Sep 202218%

Dec 2022—

Mar 202321%

Jun 2023—

Sep 202324%

Dec 202333%

Mar 202426%

Jun 202437%

Sep 202428%

Dec 202438%

Mar 202526%

Jun 202538%

Sep 202530%

Dec 202538%

Mar 202629%

Jun 202637%

Kirloskar Oil Engines Ltd · KIRLOSENG

Sep 202113%

Dec 2021—

Mar 20229.6%

Jun 2022—

Sep 202213%

Dec 2022—

Mar 202315%

Jun 202319%

Sep 202317%

Dec 202320%

Mar 202419%

Jun 202422%

Sep 202417%

Dec 202421%

Mar 202519%

Jun 202520%

Sep 202512%

Dec 202519%

Mar 202618%

Jun 2026—

ROCE change · reported quarter history

Cummins India Ltd · CUMMINSIND

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+1.0 pp

Dec 2022—

Mar 2023+4.4 pp

Jun 2023—

Sep 2023+5.3 pp

Dec 2023—

Mar 2024+4.5 pp

Jun 2024—

Sep 2024+4.8 pp

Dec 2024+4.6 pp

Mar 2025+0.4 pp

Jun 2025+1.1 pp

Sep 2025+1.8 pp

Dec 20250.0 pp

Mar 2026+2.9 pp

Jun 2026−0.7 pp

Kirloskar Oil Engines Ltd · KIRLOSENG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+0.8 pp

Dec 2022—

Mar 2023+5.5 pp

Jun 2023—

Sep 2023+3.3 pp

Dec 2023—

Mar 2024+4.1 pp

Jun 2024+3.6 pp

Sep 2024+0.5 pp

Dec 2024+1.2 pp

Mar 2025+0.1 pp

Jun 2025−2.7 pp

Sep 2025−5.1 pp

Dec 2025−1.9 pp

Mar 2026−1.2 pp

Jun 2026—

10 · compare level, then change

Valuation Against Growth & Quality

Kirloskar Oil Engines Ltd has the lowest PEG among the 2 Gensets companies compared here, at 2.16×. Cummins India Ltd is next at 3.04×. The same company also holds the lowest P/E, at 53.6×. 2 of 2 companies report a comparable reading, the latest through Jun 2026. Its PEG series carries 10 reported observations across the 20-quarter window.

What the numbers say: Kirloskar Oil Engines Ltd has the lowest comparable PEG at 2.16×, 28.9% below Cummins India Ltd. Only 2 of 2 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderKirloskar Oil Engines Ltd · 2.16×

Gap28.9% versus #2 · Cummins India Ltd

Persistence0/8 recent comparable periods

Coverage2/2 companies · 28 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

PEGlowest PEG

1Kirloskar Oil Engines Ltd KIRLOSENG2.2

2Cummins India Ltd CUMMINSIND3.0

P/Elowest P/E

1Kirloskar Oil Engines Ltd KIRLOSENG53.6

2Cummins India Ltd CUMMINSIND61.4

Valuation · company comparison

2/2 level · 2/2 change

All-company data · latest reported quarter

Company	PEG	P/E	Reported
Cummins India Ltd CUMMINSIND	3.0	64.5	Jun 2026
Kirloskar Oil Engines Ltd KIRLOSENG	2.2	60.8	Jun 2026

Full 20-quarter history · every available company

PEG · reported quarter history

Cummins India Ltd · CUMMINSIND

Sep 20212.3

Dec 20211.3

Mar 20221.7

Jun 20221.1

Sep 20221.6

Dec 2022—

Mar 20231.0

Jun 20230.9

Sep 20230.6

Dec 2023—

Mar 20241.4

Jun 20241.6

Sep 20241.8

Dec 20241.3

Mar 20251.4

Jun 20252.9

Sep 20253.1

Dec 20252.9

Mar 20263.5

Jun 20263.0

Kirloskar Oil Engines Ltd · KIRLOSENG

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 20221.0

Mar 20231.4

Jun 20230.3

Sep 2023—

Dec 20230.7

Mar 2024—

Jun 20241.7

Sep 20241.4

Dec 20240.7

Mar 20251.0

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20262.9

Jun 20262.2

P/E · reported quarter history

Cummins India Ltd · CUMMINSIND

Sep 202138.0

Dec 202133.8

Mar 202238.5

Jun 202233.3

Sep 202237.0

Dec 202240.6

Mar 202340.8

Jun 202343.5

Sep 202334.0

Dec 202337.7

Mar 202454.4

Jun 202463.9

Sep 202458.5

Dec 202446.9

Mar 202542.1

Jun 202546.2

Sep 202551.3

Dec 202552.3

Mar 202655.1

Jun 202664.5

Kirloskar Oil Engines Ltd · KIRLOSENG

Sep 202112.7

Dec 202111.9

Mar 202210.5

Jun 202210.8

Sep 202215.7

Dec 202217.6

Mar 202317.8

Jun 202317.1

Sep 202320.8

Dec 202325.6

Mar 202431.6

Jun 202444.6

Sep 202437.2

Dec 202428.6

Mar 202521.6

Jun 202527.0

Sep 202529.8

Dec 202537.9

Mar 202636.0

Jun 202660.8

11 · before the conclusion, check the blind spots

What can make this comparison misleading?

This Gensets comparison names 4 specific ways its own evidence can mislead, all listed below. All 2 companies here report on comparable dates, so no rank carries a stale marker. A high growth rate can still be a low-base artefact.

Keep these limits visible

A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.

12 · evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 2 Gensets companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-08-14. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company

Market dataThrough 2026-08-14 · weekly price and relative-strength history

Derived metricsGrowth, changes and PEG are calculated only when their inputs are comparable.

Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.

Source standing2 cross-checked · 0 unverified · 0 withheld, of 2 graded companies.

How a second data feed is admitted, and what happens when it disagrees

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from.

13 · questions investors ask, short speakable answers

Gensets company comparison FAQs

These 23 answers restate the Gensets comparison above in question form. Every one is computed from the same 2 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-08-14. Nothing here is estimated, and none of it is a recommendation.

Is the Gensets sector outperforming NIFTY 500?

Gensets has outperformed NIFTY 500 by 83.6% over 52 weeks and 6.8% over 13 weeks. 2 of 2 covered companies beat NIFTY on Mansfield relative strength, while 1 of 2 beat the sector itself.

Which Gensets company is largest by revenue?

Cummins India Ltd leads with revenue of ₹12,662 crore, based on 2 of 2 comparable companies through Jun 2026.

Which Gensets company is growing fastest?

Kirloskar Oil Engines Ltd has the fastest current revenue growth at 22.7%, across 2 of 2 comparable companies.

Which Gensets company has the strongest 4-Factor Sector Score?

Kirloskar Oil Engines Ltd ranks first at 53.6/100 with 97% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Gensets company has the lowest comparable PEG?

Kirloskar Oil Engines Ltd has the lowest comparable PEG at 2.16, among 2 of 2 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Gensets comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Is there a Nifty Gensets index?

NSE India maintains Nifty indices for several broad sector categories — Nifty Bank, Nifty IT, Nifty Pharma and others — but not for every sub-sector grouping on this site. Whether or not an official Nifty index covers Gensets, this page builds its own equal-weight basket of 2 listed Gensets companies — one company, one vote, regardless of market value — so no single large company dominates the reading. Figures are as of Jun 2026.

Which are the best Gensets stocks in India?

Ranked by this page's four-factor score, Kirloskar Oil Engines Ltd places first among 2 listed Gensets companies, followed by Cummins India Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Gensets stocks are listed in India?

This comparison covers 2 listed Gensets companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which Gensets company is the biggest?

Cummins India Ltd is the largest, with trailing-twelve-month revenue of ₹12,662 crore, ahead of Kirloskar Oil Engines Ltd at ₹7,937 crore. That covers 2 of 2 companies with comparable reporting through Jun 2026.

Which Gensets company has the best profit margins?

Cummins India Ltd has the highest operating margin at 18%, from 2 of 2 comparable companies. Cummins India Ltd shows the biggest recent improvement, at -3 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Gensets company makes the most profit?

Cummins India Ltd earns the most, at ₹2,366 crore of trailing-twelve-month net profit, from 2 of 2 comparable companies. Kirloskar Oil Engines Ltd has the fastest profit growth at 16.3%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Gensets company earns the highest return on capital?

Cummins India Ltd leads on return on capital employed at 39.5%, across 2 of 2 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Gensets stock is the cheapest?

On PEG — where a LOWER number is cheaper — Kirloskar Oil Engines Ltd screens cheapest at 2.16×. All 2 companies qualify for the ratio comparison. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Is the Gensets sector beating the market?

Gensets has outperformed NIFTY 500 by 83.6% over the last 52 weeks and 6.8% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 2 of 2 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

Which Gensets stock has the strongest price momentum?

Kirloskar Oil Engines Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Gensets company scores highest for research priority?

Kirloskar Oil Engines Ltd scores 53.6 out of 100 with 97% evidence confidence, from 17.2 points on growth and earnings, 12.3 on capital efficiency, 4.6 on valuation and 19.5 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Gensets companies does this comparison cover, and over what period?

It compares 2 listed companies over up to 20 reported quarters of fundamentals, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Gensets sector?

The 2 Gensets companies on this page carry ₹1,80,249 crore of combined market value. Cummins India Ltd is the largest at ₹1,49,688 crore, about 83% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-20.

How is the Gensets sector performing?

2 of the 2 covered Gensets companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 83.6% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-20.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.