ZF Steering Gear (India) Ltd.

•

zfindia.comBSE: 505163NSE: ZFSTEERING

Market Cap₹ 614 Cr.

Current Price

High / Low₹ 895 / 621

Stock P/E16.0

Book Value₹ 595

Price to Book1.01

Dividend Yield0.00 %

ROCE10.2 %

ROE6.3 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Auto Component: 95.1% • Unallocable: 2.6% • Renewable Energy: 2.2%

AI Sector View

AI GENERATED

Automobile and Auto Components

Buy

Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.

Confidence

74%

View full sector analysis →

PROS

Company has delivered good profit growth of 29.1% CAGR over last 5 years
Company is almost debt free
Latest quarter profit grew 55.0% YoY, showing strong momentum
Company has delivered good sales growth of 22.5% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.62x)

CONS

A large part of profit comes from other income (40.2% of PBT)
Promoter holding has decreased over last 2 years: -4.4pp
Company has a low return on equity of 8.1% over last 3 years
Company has a low return on capital employed of 10.9%
Operating margins have contracted to 11.2% from 15.6%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Automobile and Auto ComponentsAutomobile & AncillariesAuto Ancillary

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	MOTHERSON	163.80	39.47	172881.77	0.37	1075.66	77.48	35243.77	17.70	13.63	8.86
2.	BOSCHLTD	48900.00	61.03	144235.93	0.55	706.10	-36.74	5841.90	22.00	25.60	14.08
3.	UNOMINDA	1230.45	59.10	71054.45	0.22	315.51	2.10	5556.85	23.79	20.74	11.14
4.	TIINDIA	2685.25	85.70	51979.01	0.13	293.96	-3.04	6215.33	20.20	27.33	8.81
5.	SONACOMS	800.45	71.79	49958.36	0.42	178.51	46.67	1301.20	52.38	14.75	22.55
6.	ENDURANCE	2754.35	39.95	38743.47	0.42	244.52	8.03	4314.89	30.01	18.33	12.42
7.	CRAFTSMAN	11855.90	66.69	31008.43	0.09	150.55	116.31	2431.58	36.30	14.65	15.81
8.	ZFCVINDIA	2471.00	56.33	28121.34	0.03	1044.78	753.75	10661.76	992.89	20.23	12.93
9.	SANSERA	4133.05	74.02	25791.71	0.10	87.36	38.71	1021.26	33.27	14.29	19.18
10.	MSUMI	36.71	38.80	24344.83	1.58	1453.20	915.51	34072.60	1273.43	43.72	7.58
11.	GABRIEL	1361.00	81.04	24121.01	0.37	108.13	74.48	1425.68	29.80	26.37	11.71
12.	ZFSTEERING	676.45	31.00	613.76	0.00	11.42	59.72	143.06	7.62	6.42	9.32

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	121	119	114	124	128	111	117	137	131	116	140	169	138
	102	106	103	113	110	99	106	121	114	105	123	152	133
Operating Profit	18	13	10	11	18	12	11	15	17	11	18	17	5
OPM %	15.21%	11.16%	8.84%	8.72%	13.84%	11.10%	9.59%	11.15%	12.66%	9.68%	12.61%	10.07%	3.82%
	7	6	13	11	9	7	3	9	8	3	7	5	19
Interest	0	0	0	0	1	1	1	1	1	1	1	1	1
Depreciation	8	8	8	9	7	8	8	8	7	7	7	8	6
Profit before Tax	18	11	15	12	19	11	5	15	17	7	16	13	24
Tax %	31.91%	-14.11%	18.00%	13.57%	24.81%	45.67%	31.19%	34.45%	28.31%	41.11%	28.97%	66.93%	23.15%
Net Profit	12	13	12	11	15	6	4	10	12	4	12	4	19
	13.19	1435.00	13.26	11.79	16.01	6.51	4.02	10.82	13.17	4.56	12.68	4.62	20.41

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	399	425	439	287	201	313	450	478	493	557	564
	317	336	364	321	183	272	394	425	436	492	512
Operating Profit	82	88	75	-34	18	41	56	53	57	65	51
OPM %	20.54%	20.78%	17.11%	-11.84%	9.07%	12.99%	12.46%	11.00%	11.47%	11.64%	9.10%
	12	10	-56	70	26	21	14	38	28	20	34
Interest	2	3	2	1	0	0	1	1	3	3	3
Depreciation	28	33	31	32	38	31	32	33	31	29	29
Profit before Tax	63	61	-14	3	7	30	37	56	50	53	60
Tax %	21.32%	23.31%	90.46%	109.36%	-30.92%	38.90%	31.61%	14.85%	32.81%	39.54%	36.07%
Net Profit	50	47	-1	-0	9	18	25	48	34	32	38
EPS	0.00	0.00	0.00	0.00	9.75	20.14	28.04	52.61	37.36	35.04	—
Dividend Payout %	14.60%	15.42%	0.00%	0.00%	0.00%	0.00%	17.83%	15.21%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 4%
5 Years:: 23%
3 Years:: 7%

COMPOUNDED PROFIT GROWTH

10 Years:: -3%
5 Years:: 29%
3 Years:: 8%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 7%
5 Years:: 7%
3 Years:: 8%
Last Year:: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	9	9	9	9	9	9	9	9	9	9
	329	370	359	358	368	386	411	454	481	513
	57	57	34	6	35	36	42	33	40	44
Trade Payables	45	51	38	34	30	28	35	32	43	46
	39	41	35	6	1	6	4	10	27	41
Total Liabilities	479	527	475	413	443	465	501	538	599	652
	120	105	111	199	175	159	144	135	132	118
Capital Work in Progress	0	1	26	7	2	2	1	4	2	2
	191	232	152	107	120	119	155	142	169	148
	39	40	40	23	38	58	58	66	62	59
	0	0	0	0	0	0	0	98	112	96
Cash & Bank	2	5	6	6	10	4	1	13	1	4
	127	146	140	72	98	123	141	80	122	225
Total Assets	479	527	475	413	443	465	501	538	599	652

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	78	83	85	79	-26	20	57	43	59	83
Cash from Investing	-47	-55	-43	-29	1	-16	-62	-17	-68	-80
Cash from Financing	-16	-10	-28	-44	26	-3	10	-13	-3	1
	-0	2	2	2	1	-4	-2	13	-12	3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	67.17	67.17	67.01	67.00	66.93	66.93	62.79	62.75	62.75
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.01	0.03	0.03	0.03	0.01	0.01	0.01	0.01	0.01
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	32.82	32.81	32.97	32.97	33.06	33.06	37.20	37.24	37.24

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for ZFSTEERING

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ZF Steering Gear (India) Ltd.

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Name

MOTHERSON

163.80

39.47

172881.77

0.37

1075.66

77.48

35243.77

17.70

13.63

8.86

BOSCHLTD

48900.00

61.03

144235.93

0.55

706.10

-36.74

5841.90

22.00

25.60

14.08

UNOMINDA

1230.45

59.10

71054.45

0.22

315.51

2.10

5556.85

23.79

20.74

11.14

TIINDIA

2685.25

85.70

51979.01

0.13

293.96

-3.04

6215.33

20.20

27.33

8.81

SONACOMS

800.45

71.79

49958.36

0.42

178.51

46.67

1301.20

52.38

14.75

22.55

ENDURANCE

2754.35

39.95

38743.47

0.42

244.52

8.03

4314.89

30.01

18.33

12.42

CRAFTSMAN

11855.90

66.69

31008.43

0.09

150.55

116.31

2431.58

36.30

14.65

15.81

ZFCVINDIA

2471.00

56.33

28121.34

0.03

1044.78

753.75

10661.76

992.89

20.23

12.93

SANSERA

4133.05

74.02

25791.71

0.10

87.36

38.71

1021.26

33.27

14.29

19.18

MSUMI

36.71

38.80

24344.83

1.58

1453.20

915.51

34072.60

1273.43

43.72

7.58

GABRIEL

1361.00

81.04

24121.01

0.37

108.13

74.48

1425.68

29.80

26.37

11.71

ZFSTEERING

676.45

31.00

613.76

0.00

11.42

59.72

143.06

7.62

6.42

9.32

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

121

119

114

124

128

111

117

137

131

116

140

169

138

102

106

103

113

110

106

121

114

105

123

152

133

Operating Profit

OPM %

15.21%

11.16%

8.84%

8.72%

13.84%

11.10%

9.59%

11.15%

12.66%

9.68%

12.61%

10.07%

3.82%

Interest

Depreciation

Profit before Tax

Tax %

31.91%

-14.11%

18.00%

13.57%

24.81%

45.67%

31.19%

34.45%

28.31%

41.11%

28.97%

66.93%

23.15%

Net Profit

13.19

1435.00

13.26

11.79

16.01

6.51

4.02

10.82

13.17

4.56

12.68

4.62

20.41

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

399

425

439

287

201

313

450

478

493

557

564

317

336

364

321

183

272

394

425

436

492

512

Operating Profit

-34

OPM %

20.54%

20.78%

17.11%

-11.84%

9.07%

12.99%

12.46%

11.00%

11.47%

11.64%

9.10%

-56

Interest

Depreciation

Profit before Tax

-14

Tax %

21.32%

23.31%

90.46%

109.36%

-30.92%

38.90%

31.61%

14.85%

32.81%

39.54%

36.07%

Net Profit

-1

-0

EPS

0.00

9.75

20.14

28.04

52.61

37.36

35.04

—

Dividend Payout %

14.60%

15.42%

0.00%

17.83%

15.21%

0.00%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

329

370

359

358

368

386

411

454

481

513

Trade Payables

Total Liabilities

479

527

475

413

443

465

501

538

599

652

120

105

111

199

175

159

144

135

132

118

Capital Work in Progress

191

232

152

107

120

119

155

142

169

148

112

Cash & Bank

127

146

140

123

141

122

225

Total Assets

479

527

475

413

443

465

501

538

599

652

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-26

Cash from Investing

-47

-55

-43

-29

-16

-62

-17

-68

-80

Cash from Financing

-16

-10

-28

-44

-3

-13

-3

-0

-4

-2

-12

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

67.17

67.01

67.00

66.93

62.79

62.75

FIIs

0.00

0.01

0.03

0.01

Government

0.00

32.82

32.81

32.97

33.06

37.20

37.24

ZF Steering Gear (India) Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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ZF Steering Gear (India) Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI