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Demand triggers remain strong for Cummins India, Kirloskar Oil Engines

The share prices of both KKC and KOEL have more than doubled in the last 12 months but KOEL has gained 239% while KKC is up 121%, both are on the buy lists of brokerages

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Devangshu Datta

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Genset demand has been strong through Q1FY25. Inventory for CPCB 2 sets is exhausted and there are good sales for CPCB IV+ sets ahead of CPCB IV+ norm implementation in July. Companies like Cummins India (KKC) and Kirloskar Oil Engines (KOEL) are looking to market their CPCB 4+ portfolios.

The genset market is worth around Rs 10,000 crore, split into three roughly equal segments across Low horsepower or LHP, midrange, and High HP (HHP). Demand is stronger across low-to-mid ranges. Overall demand may moderate in July-Sep'24 due to pre-buying and seasonal factors.

KKC, KOEL, and Mahindra Powerol

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First Published: Jun 21 2024 | 8:13 PM IST

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