Cummins India Limited has been penalized by both BSE and NSE for regulatory non-compliance, with each exchange imposing fines of ₹2,000 plus applicable taxes. The penalties relate to violations of Regulation 18(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, concerning audit committee constitution requirements for the quarter ended December 31, 2025.

Regulatory Non-Compliance Details

Both stock exchanges communicated their penalty decisions to Cummins India on February 27, 2026, citing non-compliance with audit committee constitution requirements. The violations were identified under SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, which outlines standard operating procedures for imposing fines on listed entities.

Board Response and Corrective Measures

The company's Board of Directors addressed the non-compliance issue during their meeting held on March 11, 2026. After reviewing the circumstances, the Board determined that the violation was inadvertent and unintentional, emphasizing the company's commitment to maintaining adherence to all applicable regulatory frameworks.

Key actions taken by the company include:

• Reconstitution of the Audit and Compliance Committee, effective November 11, 2025
• Payment of fines within prescribed timelines
• Filing of waiver applications with both exchanges
• Implementation of measures to ensure future compliance

Compliance Status and Future Measures

Cummins India has confirmed that both fines have been paid within the prescribed 15-day timeline as mandated by the exchanges. The company has also submitted waiver applications to both BSE and NSE, with outcomes pending review by the respective exchange committees.

The Board reiterated the company's commitment to aligning its practices with the latest regulatory guidance and confirmed that corrective steps have been implemented to ensure compliance going forward. The company emphasized its steadfast commitment to maintaining adherence to all applicable regulatory frameworks.

Exchange Warning and Consequences

Both exchanges warned that failure to pay fines within the stipulated timeframe could result in severe consequences, including freezing of promoter shareholdings and potential shifting of the company's securities to the Z category for trade-for-trade basis trading in case of consecutive defaults.

The exchanges also mandated that the non-compliance matter be placed before the Board of Directors in their next meeting, with board comments to be communicated to the exchanges for dissemination, which Cummins India has duly completed.

Source: None/Company/INE298A01020/5edb2fcf-8426-4f79-bf7a-627e329ab34f.pdf

Cummins India delivered strong export performance in February 2026, demonstrating robust growth across international markets. The company reported significant expansion in its overseas business operations during the month.

Export Performance Highlights

The company's export metrics for February 2026 showed impressive growth across multiple timeframes:

Key Export Markets

Cummins India's export portfolio demonstrated strong geographical diversification with three major markets leading the company's international sales:

• China: Top export destination
• United States: Second-largest export market
• United Kingdom: Third-largest export market

The strong performance across these diverse markets reflects the company's ability to cater to varying regional demands and maintain competitive positioning in different geographical segments. The substantial month-over-month growth of 80% indicates significant momentum in the company's export operations, while the 21% year-over-year increase demonstrates sustained growth trajectory in international markets.

This export performance underscores Cummins India's expanding global footprint and the increasing international demand for its products across key markets in Asia, North America, and Europe.