# Gensets — company-by-company sector analysis > Gensets: Cummins India Ltd owns the largest revenue base; Kirloskar Oil Engines Ltd has the fastest current growth. Sector Alpha — machine-written from the numbers. Data as of 2026-08-20. Not investment advice. ## 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. ## Sector relative strength 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%. 13-week sector return versus NIFTY 500: 6.8% 52-week sector return versus NIFTY 500: 84% Stocks leading NIFTY: 2/2 Stocks leading sector: 1/2 Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change. Companies: 2 Combined market value: ₹1.8 L Cr ## 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. 1. Kirloskar Oil Engines Ltd (KIRLOSENG): 54/100 — Mixed-positive evidence; evidence 97% - Growth & earnings 17.2/35 | Capital efficiency 12.3/25 | Valuation 4.6/20 | Relative strength 19.5/20 - Price stage: LEADER — Ahead of the benchmark 13 weeks or more running, and ahead over the past year. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 12 of the last 12 weeks - 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. 2. Cummins India Ltd (CUMMINSIND): 41/100 — Mixed-negative evidence; evidence 97% - Growth & earnings 14.5/35 | Capital efficiency 19.5/25 | Valuation 1.9/20 | Relative strength 5.1/20 - Price stage: ASLEEP — Neither ahead of the benchmark nor yet turning up against it. - Led NIFTY 500 by 5%+ over the prior 13 weeks in 7 of the last 12 weeks - 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. ## 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. ### Strongest one-year price performers 1. Kirloskar Oil Engines Ltd (KIRLOSENG): 132% 2. Cummins India Ltd (CUMMINSIND): 42% ### Strongest relative strength versus NIFTY 500 1. Kirloskar Oil Engines Ltd (KIRLOSENG): 43% 2. Cummins India Ltd (CUMMINSIND): 12% ## 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. ### Live themes, worst first - HIGH | Geopolitical volatility and tariff-related equations are impacting export markets and overall demand cycles. | Managements are focusing on domestic consumption targets and pushing for specific product pickups in regions like the U.S. to offset external volatility. | quoted: "I think the biggest risk probably will be geopolitical at this point, given the volatility that we see." | named for CUMMINSIND, KIRLOSENG - MEDIUM | Rising raw material costs, specifically copper reaching INR 1,320 per kg, are pressuring gross margins. | Companies are attempting to pass costs down to the market with a delay and managing product mix to maintain margins. | quoted: "The alternator business does get hugely impacted by copper, and copper has been inching upwards. Recent numbers are around INR1,320 per kg." | named for CUMMINSIND, KIRLOSENG - LOW | Currency benefits are minimal, with margins primarily dependent on product mix. | Management focuses on product mix rather than relying on exchange rate movements. | quoted: "Currency benefit, not so much. Mix is largely dependent on our own product mix." | named for CUMMINSIND - LOW | Evaluating the impact of EU FDA regulations on direct exports to the European region. | Management currently views the potential impact as hypothetically positive. | quoted: "Mohit, EU FDA, we do have some business where we directly export to the EU region. So, we are evaluating the impact." | named for CUMMINSIND - LOW | Delayed monsoons in October slowed construction activity and excavator sales. | Management expects construction activity to improve following the announcement of a new incentive scheme. | quoted: "And then there was delayed monsoons in October. So, excavator sales did not pick up as much as they should have." | named for CUMMINSIND Sources: our Gensets sector brief, 17 Apr 2026 · company earnings-call transcripts. ## Revenue Scale & Growth Durability 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. 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. Evidence: Cummins India Ltd · ₹12,662 crore | 59.5% versus #2 · Kirloskar Oil Engines Ltd | 7/8 recent comparable periods | 2/2 companies · 40 observations Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress. ### Revenue — largest 1. Cummins India Ltd (CUMMINSIND): ₹12.7K Cr 2. Kirloskar Oil Engines Ltd (KIRLOSENG): ₹7.9K Cr ### Revenue growth — fastest growers 1. Kirloskar Oil Engines Ltd (KIRLOSENG): 23% 2. Cummins India Ltd (CUMMINSIND): 15% ### 20-quarter Revenue history - 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 - 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 ### 20-quarter Revenue growth history - CUMMINSIND: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 42% | Sep 2022 13% | Dec 2022 25% | Mar 2023 29% | Jun 2023 31% | Sep 2023 -1.8% | Dec 2023 16% | Mar 2024 20% | Jun 2024 4.4% | Sep 2024 31% | Dec 2024 22% | Mar 2025 6.5% | Jun 2025 26% | Sep 2025 26% | Dec 2025 -1.3% | Mar 2026 22% | Jun 2026 18% - KIRLOSENG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 45% | Sep 2022 0.9% | Dec 2022 20% | Mar 2023 17% | Jun 2023 30% | Sep 2023 29% | Dec 2023 14% | Mar 2024 20% | Jun 2024 5.8% | Sep 2024 15% | Dec 2024 4.5% | Mar 2025 5.4% | Jun 2025 8.0% | Sep 2025 29% | Dec 2025 29% | Mar 2026 21% | Jun 2026 14% ## Operating Economics & Margin Trend What the numbers say: Cummins India Ltd leads both opm at 18% and margin change at -3 percentage points. 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. Evidence: Cummins India Ltd · 18% | 20% versus #2 · Kirloskar Oil Engines Ltd | 4/8 recent comparable periods | 2/2 companies · 40 observations Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth. ### OPM — highest 1. Cummins India Ltd (CUMMINSIND): 18% 2. Kirloskar Oil Engines Ltd (KIRLOSENG): 15% ### Margin change — fastest expanders 1. Cummins India Ltd (CUMMINSIND): −3.0 pp 2. Kirloskar Oil Engines Ltd (KIRLOSENG): −4.0 pp ### 20-quarter OPM history - CUMMINSIND: Sep 2021 15% | Dec 2021 16% | Mar 2022 14% | Jun 2022 13% | Sep 2022 15% | Dec 2022 19% | Mar 2023 17% | Jun 2023 15% | Sep 2023 18% | Dec 2023 21% | Mar 2024 23% | Jun 2024 20% | Sep 2024 19% | Dec 2024 19% | Mar 2025 21% | Jun 2025 21% | Sep 2025 22% | Dec 2025 21% | Mar 2026 21% | Jun 2026 18% - KIRLOSENG: Sep 2021 9.7% | Dec 2021 8.6% | Mar 2022 12% | Jun 2022 15% | Sep 2022 11% | Dec 2022 16% | Mar 2023 14% | Jun 2023 17% | Sep 2023 15% | Dec 2023 19% | Mar 2024 18% | Jun 2024 20% | Sep 2024 20% | Dec 2024 18% | Mar 2025 18% | Jun 2025 19% | Sep 2025 20% | Dec 2025 18% | Mar 2026 18% | Jun 2026 15% ### 20-quarter Margin change history - 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 2026 0.0 pp | Jun 2026 −3.0 pp - 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 2025 0.0 pp | Jun 2025 −1.0 pp | Sep 2025 0.0 pp | Dec 2025 0.0 pp | Mar 2026 0.0 pp | Jun 2026 −4.0 pp ## Profit Scale & Acceleration 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. 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. Evidence: Cummins India Ltd · ₹2,366 crore | 343.1% versus #2 · Kirloskar Oil Engines Ltd | 6/8 recent comparable periods | 2/2 companies · 40 observations Definition: 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 profit — largest 1. Cummins India Ltd (CUMMINSIND): ₹2.4K Cr 2. Kirloskar Oil Engines Ltd (KIRLOSENG): ₹534 Cr ### Profit growth — fastest growers 1. Kirloskar Oil Engines Ltd (KIRLOSENG): 16% 2. Cummins India Ltd (CUMMINSIND): 11% ### 20-quarter Net profit history - 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 - 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 ### 20-quarter Profit growth history - CUMMINSIND: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -20% | Sep 2022 21% | Dec 2022 66% | Mar 2023 62% | Jun 2023 79% | Sep 2023 23% | Dec 2023 21% | Mar 2024 54% | Jun 2024 31% | Sep 2024 36% | Dec 2024 12% | Mar 2025 -1.7% | Jun 2025 30% | Sep 2025 39% | Dec 2025 -13% | Mar 2026 22% | Jun 2026 0.8% - KIRLOSENG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 156% | Sep 2022 74% | Dec 2022 203% | Mar 2023 16% | Jun 2023 54% | Sep 2023 6.9% | Dec 2023 1.1% | Mar 2024 86% | Jun 2024 24% | Sep 2024 60% | Dec 2024 -24% | Mar 2025 -14% | Jun 2025 -11% | Sep 2025 27% | Dec 2025 60% | Mar 2026 22% | Jun 2026 -20% ## Return On Capital Employed 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. 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. Evidence: Cummins India Ltd · 39.5% | 170.5% versus #2 · Kirloskar Oil Engines Ltd | 6/8 recent comparable periods | 2/2 companies · 32 observations Definition: 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. ### ROCE — highest 1. Cummins India Ltd (CUMMINSIND): 40% 2. Kirloskar Oil Engines Ltd (KIRLOSENG): 15% ### ROCE change — fastest improvers 1. Cummins India Ltd (CUMMINSIND): −0.7 pp 2. Kirloskar Oil Engines Ltd (KIRLOSENG): −1.2 pp ### 20-quarter ROCE history - CUMMINSIND: Sep 2021 17% | Dec 2021 — | Mar 2022 17% | Jun 2022 — | Sep 2022 18% | Dec 2022 — | Mar 2023 21% | Jun 2023 — | Sep 2023 24% | Dec 2023 33% | Mar 2024 26% | Jun 2024 37% | Sep 2024 28% | Dec 2024 38% | Mar 2025 26% | Jun 2025 38% | Sep 2025 30% | Dec 2025 38% | Mar 2026 29% | Jun 2026 37% - KIRLOSENG: Sep 2021 13% | Dec 2021 — | Mar 2022 9.6% | Jun 2022 — | Sep 2022 13% | Dec 2022 — | Mar 2023 15% | Jun 2023 19% | Sep 2023 17% | Dec 2023 20% | Mar 2024 19% | Jun 2024 22% | Sep 2024 17% | Dec 2024 21% | Mar 2025 19% | Jun 2025 20% | Sep 2025 12% | Dec 2025 19% | Mar 2026 18% | Jun 2026 — ### 20-quarter ROCE change history - 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 2025 0.0 pp | Mar 2026 +2.9 pp | Jun 2026 −0.7 pp - 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 — ## Valuation Against Growth & Quality 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. 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. Evidence: Kirloskar Oil Engines Ltd · 2.16× | 28.9% versus #2 · Cummins India Ltd | 0/8 recent comparable periods | 2/2 companies · 28 observations Definition: 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. ### PEG — lowest PEG 1. Kirloskar Oil Engines Ltd (KIRLOSENG): 2.2 2. Cummins India Ltd (CUMMINSIND): 3.0 ### P/E — lowest P/E 1. Kirloskar Oil Engines Ltd (KIRLOSENG): 53.6 2. Cummins India Ltd (CUMMINSIND): 61.4 ### 20-quarter PEG history - CUMMINSIND: Sep 2021 2.3 | Dec 2021 1.3 | Mar 2022 1.7 | Jun 2022 1.1 | Sep 2022 1.6 | Dec 2022 — | Mar 2023 1.0 | Jun 2023 0.9 | Sep 2023 0.6 | Dec 2023 — | Mar 2024 1.4 | Jun 2024 1.6 | Sep 2024 1.8 | Dec 2024 1.3 | Mar 2025 1.4 | Jun 2025 2.9 | Sep 2025 3.1 | Dec 2025 2.9 | Mar 2026 3.5 | Jun 2026 3.0 - KIRLOSENG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 1.0 | Mar 2023 1.4 | Jun 2023 0.3 | Sep 2023 — | Dec 2023 0.7 | Mar 2024 — | Jun 2024 1.7 | Sep 2024 1.4 | Dec 2024 0.7 | Mar 2025 1.0 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 2.9 | Jun 2026 2.2 ### 20-quarter P/E history - CUMMINSIND: Sep 2021 38.0 | Dec 2021 33.8 | Mar 2022 38.5 | Jun 2022 33.3 | Sep 2022 37.0 | Dec 2022 40.6 | Mar 2023 40.8 | Jun 2023 43.5 | Sep 2023 34.0 | Dec 2023 37.7 | Mar 2024 54.4 | Jun 2024 63.9 | Sep 2024 58.5 | Dec 2024 46.9 | Mar 2025 42.1 | Jun 2025 46.2 | Sep 2025 51.3 | Dec 2025 52.3 | Mar 2026 55.1 | Jun 2026 64.5 - KIRLOSENG: Sep 2021 12.7 | Dec 2021 11.9 | Mar 2022 10.5 | Jun 2022 10.8 | Sep 2022 15.7 | Dec 2022 17.6 | Mar 2023 17.8 | Jun 2023 17.1 | Sep 2023 20.8 | Dec 2023 25.6 | Mar 2024 31.6 | Jun 2024 44.6 | Sep 2024 37.2 | Dec 2024 28.6 | Mar 2025 21.6 | Jun 2025 27.0 | Sep 2025 29.8 | Dec 2025 37.9 | Mar 2026 36.0 | Jun 2026 60.8 ## What can make this comparison misleading? - 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. ## Every company - Cummins India Ltd (CUMMINSIND) — market value ₹1.5 L Cr; latest fundamentals Jun 2026 - Kirloskar Oil Engines Ltd (KIRLOSENG) — market value ₹30.6K Cr; latest fundamentals Jun 2026 ## Source standing of each company Cross-checked: 2. Unverified: 0. Withheld: 0. Graded companies: 2. Every company's second-feed figures reconcile against the primary source on overlapping reported periods, so nothing here is unverified or withheld. ## Methodology and freshness Fundamentals through Jun 2026; prices through 2026-08-14. Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable. ## Frequently asked questions ### 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.