ZF Commercial Vehicle Control Systems India Ltd.
•₹ 2,6621.54%
2026-08-21
PROS
- Company has delivered good profit growth of 37.3% CAGR over last 5 years
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 20.5%
- Latest quarter profit grew 724.6% YoY, showing strong momentum
- Company has delivered good sales growth of 16.8% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.93x)
CONS
- Promoter holding has decreased over last 2 years: -7.5pp
- A large part of profit comes from other income (27.3% of PBT)
- Stock is trading at 7.2x its book value
- Though reporting repeated profits, the company pays out little dividend (1.5%)
- Growth is decelerating - 3Y profit CAGR (16.8%) trails the 5Y trend (37.3%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | MOTHERSON | 169.50 | 40.85 | 178897.80 | 0.35 | 1075.66 | 77.48 | 35243.77 | 17.70 | 13.63 | 8.86 |
| 2. | BOSCHLTD | 48580.00 | 60.63 | 143292.05 | 0.56 | 706.10 | -36.74 | 5841.90 | 22.00 | 25.60 | 14.08 |
| 3. | UNOMINDA | 1262.25 | 60.63 | 72890.80 | 0.21 | 315.51 | 2.10 | 5556.85 | 23.79 | 20.74 | 11.14 |
| 4. | TIINDIA | 2927.50 | 93.43 | 56668.30 | 0.12 | 293.96 | -3.04 | 6215.33 | 20.20 | 27.33 | 8.81 |
| 5. | SONACOMS | 823.35 | 73.81 | 51368.04 | 0.41 | 178.51 | 46.67 | 1301.20 | 52.38 | 14.75 | 22.55 |
| 6. | ENDURANCE | 3000.05 | 43.51 | 42199.56 | 0.38 | 244.52 | 8.03 | 4314.89 | 30.01 | 18.33 | 12.42 |
| 7. | ZFCVINDIA | 2620.95 | 59.75 | 29827.85 | 0.03 | 1044.78 | 753.75 | 10661.76 | 992.89 | 20.23 | 12.93 |
| 8. | CRAFTSMAN | 10681.30 | 60.09 | 27936.33 | 0.11 | 150.55 | 116.31 | 2431.58 | 36.30 | 14.65 | 15.81 |
| 9. | MSUMI | 39.18 | 0.00 | 25982.85 | 1.48 | 1453.20 | 915.51 | 34072.60 | 1273.43 | 43.72 | 7.58 |
| 10. | GABRIEL | 1436.35 | 85.52 | 25456.43 | 0.35 | 1081.26 | 925.35 | 14256.83 | 1055.00 | 26.37 | 11.71 |
| 11. | SANSERA | 3893.25 | 69.73 | 24295.27 | 0.10 | 87.36 | 38.71 | 1021.26 | 33.27 | 13.97 | 19.18 |
| 12. | TENNIND | 568.30 | 38.18 | 22936.83 | 4.52 | 1652.36 | 883.03 | 15447.53 | 1101.56 | 58.84 | 15.98 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 961 | 981 | 887 | 956 | 938 | 897 | 956 | 1,003 | 963 | 895 | 1,058 | 1,133 | 10,417 | |
| 819 | 837 | 756 | 809 | 800 | 767 | 781 | 831 | 835 | 770 | 863 | 950 | 9,442 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 21 | 24 | 30 | 20 | 26 | 40 | 17 | 27 | 67 | 45 | 32 | 42 | 360 |
| Interest | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 12 |
| Depreciation | 28 | 27 | 26 | 29 | 29 | 31 | 31 | 32 | 32 | 32 | 32 | 33 | 315 |
| 134 | 140 | 134 | 137 | 133 | 147 | 160 | 167 | 161 | 144 | 185 | 190 | 1,336 | |
| Tax % | 25.36% | 25.40% | 25.48% | 26.35% | 25.55% | 25.49% | 21.84% | 25.02% | 25.58% | 25.91% | 24.92% | 25.75% | 25.80% |
| Net Profit | 100 | 104 | 100 | 101 | 99 | 109 | 125 | 125 | 120 | 106 | 139 | 141 | 991 |
| 53 | 55 | 53 | 53 | 52 | 58 | 66 | 66 | 63 | 56 | 73 | 75 | 9 | |
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 569 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 569 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Jun 2023
- 961
- 819
- Operating Profit
- —
- OPM %
- —
- Other Income
- 21
- Interest
- 1
- Depreciation
- 28
- 134
- Tax %
- 25.36%
- Net Profit
- 100
- 53
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2023
- 981
- 837
- Operating Profit
- —
- OPM %
- —
- Other Income
- 24
- Interest
- 1
- Depreciation
- 27
- 140
- Tax %
- 25.40%
- Net Profit
- 104
- 55
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2023
- 887
- 756
- Operating Profit
- —
- OPM %
- —
- Other Income
- 30
- Interest
- 1
- Depreciation
- 26
- 134
- Tax %
- 25.48%
- Net Profit
- 100
- 53
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2024
- 956
- 809
- Operating Profit
- —
- OPM %
- —
- Other Income
- 20
- Interest
- 1
- Depreciation
- 29
- 137
- Tax %
- 26.35%
- Net Profit
- 101
- 53
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2024
- 938
- 800
- Operating Profit
- —
- OPM %
- —
- Other Income
- 26
- Interest
- 2
- Depreciation
- 29
- 133
- Tax %
- 25.55%
- Net Profit
- 99
- 52
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2024
- 897
- 767
- Operating Profit
- —
- OPM %
- —
- Other Income
- 40
- Interest
- 1
- Depreciation
- 31
- 147
- Tax %
- 25.49%
- Net Profit
- 109
- 58
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2024
- 956
- 781
- Operating Profit
- —
- OPM %
- —
- Other Income
- 17
- Interest
- 1
- Depreciation
- 31
- 160
- Tax %
- 21.84%
- Net Profit
- 125
- 66
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 1,003
- 831
- Operating Profit
- —
- OPM %
- —
- Other Income
- 27
- Interest
- 1
- Depreciation
- 32
- 167
- Tax %
- 25.02%
- Net Profit
- 125
- 66
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 963
- 835
- Operating Profit
- —
- OPM %
- —
- Other Income
- 67
- Interest
- 1
- Depreciation
- 32
- 161
- Tax %
- 25.58%
- Net Profit
- 120
- 63
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Sep 2025
- 895
- 770
- Operating Profit
- —
- OPM %
- —
- Other Income
- 45
- Interest
- 1
- Depreciation
- 32
- 144
- Tax %
- 25.91%
- Net Profit
- 106
- 56
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 1,058
- 863
- Operating Profit
- —
- OPM %
- —
- Other Income
- 32
- Interest
- 1
- Depreciation
- 32
- 185
- Tax %
- 24.92%
- Net Profit
- 139
- 73
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 1,133
- 950
- Operating Profit
- —
- OPM %
- —
- Other Income
- 42
- Interest
- 1
- Depreciation
- 33
- 190
- Tax %
- 25.75%
- Net Profit
- 141
- 75
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 9
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 10,417
- 9,442
- Operating Profit
- —
- OPM %
- —
- Other Income
- 360
- Interest
- 12
- Depreciation
- 315
- 1,336
- Tax %
- 25.80%
- Net Profit
- 991
- 9
- Equity Capital
- 569
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 569
- Reserves
- 0
- Promoter Pledge %
- 0.00%
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,067 | 2,573 | 2,854 | 1,930 | 1,864 | 2,543 | 3,445 | 3,784 | 3,804 | 4,055 | 13,503 | |
| 1,741 | 2,175 | 2,444 | 1,678 | 1,658 | 2,291 | 2,974 | 3,221 | 3,179 | 3,418 | 12,025 | |
| Operating Profit | 363 | 445 | 482 | 315 | 245 | 290 | 537 | 659 | 735 | 823 | — |
| OPM % | 18 | 17 | 17 | 16 | 13 | 11 | 16 | 17 | 19 | 20 | — |
| Other Income | 36 | 47 | 72 | 64 | 39 | 38 | 67 | 96 | 110 | 186 | 479 |
| Interest | 0 | 2 | 0 | 2 | 2 | 2 | 6 | 5 | 6 | 5 | 16 |
| Depreciation | 62 | 62 | 71 | 90 | 90 | 92 | 105 | 109 | 123 | 130 | 413 |
| 300 | 382 | 411 | 223 | 152 | 196 | 427 | 544 | 607 | 680 | 1,854 | |
| Tax % | 29 | 29 | 31 | 29 | 32 | 27 | 26 | 26 | 24 | 26 | 26 |
| Net Profit | 213 | 273 | 282 | 159 | 104 | 142 | 318 | 405 | 459 | 507 | 1,378 |
| EPS | 113 | 144 | 149 | 84 | 55 | 75 | 167 | 213 | 242 | 267 | — |
| Dividend Payout % | 6 | 6 | 6 | 12 | 20 | 16 | 8 | 8 | 8 | 1 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 19 | 24 | 25 | 14 | 9 | 12 | 28 | 36 | 40 | 45 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 19 | 24 | 25 | 14 | 9 | 12 | 28 | 36 | 40 | 45 | — |
Mar 2017
- 2,067
- 1,741
- Operating Profit
- 363
- OPM %
- 18
- Other Income
- 36
- Interest
- 0
- Depreciation
- 62
- 300
- Tax %
- 29
- Net Profit
- 213
- EPS
- 113
- Dividend Payout %
- 6
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 19
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 19
Mar 2018
- 2,573
- 2,175
- Operating Profit
- 445
- OPM %
- 17
- Other Income
- 47
- Interest
- 2
- Depreciation
- 62
- 382
- Tax %
- 29
- Net Profit
- 273
- EPS
- 144
- Dividend Payout %
- 6
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 24
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 24
Mar 2019
- 2,854
- 2,444
- Operating Profit
- 482
- OPM %
- 17
- Other Income
- 72
- Interest
- 0
- Depreciation
- 71
- 411
- Tax %
- 31
- Net Profit
- 282
- EPS
- 149
- Dividend Payout %
- 6
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 25
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 25
Mar 2020
- 1,930
- 1,678
- Operating Profit
- 315
- OPM %
- 16
- Other Income
- 64
- Interest
- 2
- Depreciation
- 90
- 223
- Tax %
- 29
- Net Profit
- 159
- EPS
- 84
- Dividend Payout %
- 12
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 14
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 14
Mar 2021
- 1,864
- 1,658
- Operating Profit
- 245
- OPM %
- 13
- Other Income
- 39
- Interest
- 2
- Depreciation
- 90
- 152
- Tax %
- 32
- Net Profit
- 104
- EPS
- 55
- Dividend Payout %
- 20
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 9
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 9
Mar 2022
- 2,543
- 2,291
- Operating Profit
- 290
- OPM %
- 11
- Other Income
- 38
- Interest
- 2
- Depreciation
- 92
- 196
- Tax %
- 27
- Net Profit
- 142
- EPS
- 75
- Dividend Payout %
- 16
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 12
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 12
Mar 2023
- 3,445
- 2,974
- Operating Profit
- 537
- OPM %
- 16
- Other Income
- 67
- Interest
- 6
- Depreciation
- 105
- 427
- Tax %
- 26
- Net Profit
- 318
- EPS
- 167
- Dividend Payout %
- 8
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 28
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 28
Mar 2024
- 3,784
- 3,221
- Operating Profit
- 659
- OPM %
- 17
- Other Income
- 96
- Interest
- 5
- Depreciation
- 109
- 544
- Tax %
- 26
- Net Profit
- 405
- EPS
- 213
- Dividend Payout %
- 8
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 36
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 36
Mar 2025
- 3,804
- 3,179
- Operating Profit
- 735
- OPM %
- 19
- Other Income
- 110
- Interest
- 6
- Depreciation
- 123
- 607
- Tax %
- 24
- Net Profit
- 459
- EPS
- 242
- Dividend Payout %
- 8
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 40
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 40
Mar 2026
- 4,055
- 3,418
- Operating Profit
- 823
- OPM %
- 20
- Other Income
- 186
- Interest
- 5
- Depreciation
- 130
- 680
- Tax %
- 26
- Net Profit
- 507
- EPS
- 267
- Dividend Payout %
- 1
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 45
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 45
TTM
- 13,503
- 12,025
- Operating Profit
- —
- OPM %
- —
- Other Income
- 479
- Interest
- 16
- Depreciation
- 413
- 1,854
- Tax %
- 26
- Net Profit
- 1,378
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 8%
- 5 Years:
- 17%
- 3 Years:
- 6%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 10%
- 5 Years:
- 37%
- 3 Years:
- 17%
STOCK PRICE CAGR
- 10 Years:
- 10%
- 5 Years:
- 18%
- 3 Years:
- 6%
- 1 Year:
- 9%
RETURN ON EQUITY
- 10 Years:
- 14%
- 5 Years:
- 13%
- 3 Years:
- 15%
- Last Year:
- 15%
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| 1,252 | 1,509 | 1,770 | 1,885 | 1,987 | 2,105 | 2,400 | 2,779 | 3,201 | 3,667 | |
| Trade Payables | 326 | 532 | 412 | 157 | 342 | 346 | 359 | 374 | 333 | 421 |
| 149 | 118 | 143 | 129 | 151 | 158 | 230 | 178 | 192 | 236 | |
| Total Liabilities | 1,737 | 2,169 | 2,336 | 2,180 | 2,490 | 2,618 | 2,998 | 3,340 | 3,736 | 4,333 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 318 | 359 | 440 | 471 | 432 | 536 | 586 | 654 | 709 | 699 | |
| Capital Work in Progress | 62 | 52 | 19 | 30 | 50 | 20 | 77 | 83 | 63 | 59 |
| 298 | 446 | 313 | 542 | 640 | 399 | 101 | 26 | 31 | 606 | |
| 145 | 132 | 151 | 113 | 114 | 145 | 155 | 167 | 186 | 264 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 935 | 1,112 | 915 | |
| Cash & Bank | 267 | 356 | 550 | 461 | 462 | 669 | 1,169 | 1,292 | 1,465 | 1,622 |
| 647 | 823 | 862 | 563 | 792 | 849 | 910 | 185 | 168 | 168 | |
| Total Assets | 1,737 | 2,169 | 2,336 | 2,180 | 2,490 | 2,618 | 2,998 | 3,340 | 3,736 | 4,333 |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Working Capital | 856 | 1,063 | 1,243 | 1,299 | 1,414 | 1,456 | 1,704 | 1,968 | 2,361 | 2,833 |
| Contingent Liabilities | 477 | 190 | 188 | 188 | 188 | 13 | 13 | 1 | 2 | 59 |
| Book Value per Share | 665.33 | 800.35 | 938.43 | 998.83 | 1052.53 | 1114.57 | 1270.12 | 1470.22 | 1692.78 | 1938.24 |
| Face Value | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 |
| Total Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Working Capital | 856 | 1,063 | 1,243 | 1,299 | 1,414 | 1,456 | 1,704 | 1,968 | 2,361 | 2,833 |
| Contingent Liabilities | 477 | 190 | 188 | 188 | 188 | 13 | 13 | 1 | 2 | 59 |
| Book Value per Share | 665.33 | 800.35 | 938.43 | 998.83 | 1052.53 | 1114.57 | 1270.12 | 1470.22 | 1692.78 | 1938.24 |
| Face Value | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 |
Mar 2017
- Equity Capital
- 9
- 1,252
- Trade Payables
- 326
- 149
- Total Liabilities
- 1,737
- 318
- Capital Work in Progress
- 62
- 298
- 145
- 0
- Cash & Bank
- 267
- 647
- Total Assets
- 1,737
- Total Debt
- 0
- Net Working Capital
- 856
- Contingent Liabilities
- 477
- Book Value per Share
- 665.33
- Face Value
- 5.00
- Total Debt
- 0
- Net Working Capital
- 856
- Contingent Liabilities
- 477
- Book Value per Share
- 665.33
- Face Value
- 5.00
Mar 2018
- Equity Capital
- 9
- 1,509
- Trade Payables
- 532
- 118
- Total Liabilities
- 2,169
- 359
- Capital Work in Progress
- 52
- 446
- 132
- 0
- Cash & Bank
- 356
- 823
- Total Assets
- 2,169
- Total Debt
- 0
- Net Working Capital
- 1,063
- Contingent Liabilities
- 190
- Book Value per Share
- 800.35
- Face Value
- 5.00
- Total Debt
- 0
- Net Working Capital
- 1,063
- Contingent Liabilities
- 190
- Book Value per Share
- 800.35
- Face Value
- 5.00
Mar 2019
- Equity Capital
- 9
- 1,770
- Trade Payables
- 412
- 143
- Total Liabilities
- 2,336
- 440
- Capital Work in Progress
- 19
- 313
- 151
- 0
- Cash & Bank
- 550
- 862
- Total Assets
- 2,336
- Total Debt
- 0
- Net Working Capital
- 1,243
- Contingent Liabilities
- 188
- Book Value per Share
- 938.43
- Face Value
- 5.00
- Total Debt
- 0
- Net Working Capital
- 1,243
- Contingent Liabilities
- 188
- Book Value per Share
- 938.43
- Face Value
- 5.00
Mar 2020
- Equity Capital
- 9
- 1,885
- Trade Payables
- 157
- 129
- Total Liabilities
- 2,180
- 471
- Capital Work in Progress
- 30
- 542
- 113
- 0
- Cash & Bank
- 461
- 563
- Total Assets
- 2,180
- Total Debt
- 0
- Net Working Capital
- 1,299
- Contingent Liabilities
- 188
- Book Value per Share
- 998.83
- Face Value
- 5.00
- Total Debt
- 0
- Net Working Capital
- 1,299
- Contingent Liabilities
- 188
- Book Value per Share
- 998.83
- Face Value
- 5.00
Mar 2021
- Equity Capital
- 9
- 1,987
- Trade Payables
- 342
- 151
- Total Liabilities
- 2,490
- 432
- Capital Work in Progress
- 50
- 640
- 114
- 0
- Cash & Bank
- 462
- 792
- Total Assets
- 2,490
- Total Debt
- 0
- Net Working Capital
- 1,414
- Contingent Liabilities
- 188
- Book Value per Share
- 1052.53
- Face Value
- 5.00
- Total Debt
- 0
- Net Working Capital
- 1,414
- Contingent Liabilities
- 188
- Book Value per Share
- 1052.53
- Face Value
- 5.00
Mar 2022
- Equity Capital
- 9
- 2,105
- Trade Payables
- 346
- 158
- Total Liabilities
- 2,618
- 536
- Capital Work in Progress
- 20
- 399
- 145
- 0
- Cash & Bank
- 669
- 849
- Total Assets
- 2,618
- Total Debt
- 0
- Net Working Capital
- 1,456
- Contingent Liabilities
- 13
- Book Value per Share
- 1114.57
- Face Value
- 5.00
- Total Debt
- 0
- Net Working Capital
- 1,456
- Contingent Liabilities
- 13
- Book Value per Share
- 1114.57
- Face Value
- 5.00
Mar 2023
- Equity Capital
- 9
- 2,400
- Trade Payables
- 359
- 230
- Total Liabilities
- 2,998
- 586
- Capital Work in Progress
- 77
- 101
- 155
- 0
- Cash & Bank
- 1,169
- 910
- Total Assets
- 2,998
- Total Debt
- 0
- Net Working Capital
- 1,704
- Contingent Liabilities
- 13
- Book Value per Share
- 1270.12
- Face Value
- 5.00
- Total Debt
- 0
- Net Working Capital
- 1,704
- Contingent Liabilities
- 13
- Book Value per Share
- 1270.12
- Face Value
- 5.00
Mar 2024
- Equity Capital
- 9
- 2,779
- Trade Payables
- 374
- 178
- Total Liabilities
- 3,340
- 654
- Capital Work in Progress
- 83
- 26
- 167
- 935
- Cash & Bank
- 1,292
- 185
- Total Assets
- 3,340
- Total Debt
- 0
- Net Working Capital
- 1,968
- Contingent Liabilities
- 1
- Book Value per Share
- 1470.22
- Face Value
- 5.00
- Total Debt
- 0
- Net Working Capital
- 1,968
- Contingent Liabilities
- 1
- Book Value per Share
- 1470.22
- Face Value
- 5.00
Mar 2025
- Equity Capital
- 9
- 3,201
- Trade Payables
- 333
- 192
- Total Liabilities
- 3,736
- 709
- Capital Work in Progress
- 63
- 31
- 186
- 1,112
- Cash & Bank
- 1,465
- 168
- Total Assets
- 3,736
- Total Debt
- 0
- Net Working Capital
- 2,361
- Contingent Liabilities
- 2
- Book Value per Share
- 1692.78
- Face Value
- 5.00
- Total Debt
- 0
- Net Working Capital
- 2,361
- Contingent Liabilities
- 2
- Book Value per Share
- 1692.78
- Face Value
- 5.00
Mar 2026
- Equity Capital
- 9
- 3,667
- Trade Payables
- 421
- 236
- Total Liabilities
- 4,333
- 699
- Capital Work in Progress
- 59
- 606
- 264
- 915
- Cash & Bank
- 1,622
- 168
- Total Assets
- 4,333
- Total Debt
- 0
- Net Working Capital
- 2,833
- Contingent Liabilities
- 59
- Book Value per Share
- 1938.24
- Face Value
- 5.00
- Total Debt
- 0
- Net Working Capital
- 2,833
- Contingent Liabilities
- 59
- Book Value per Share
- 1938.24
- Face Value
- 5.00
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 180 | 311 | 150 | 224 | 138 | 138 | 299 | 193 | 274 | 809 | |
| Cash from Investing | -120 | -205 | -429 | -165 | -24 | -178 | -271 | -136 | -212 | -709 |
| Cash from Financing | -14 | -18 | -18 | -48 | -19 | -28 | -31 | -34 | -44 | -52 |
| 46 | 88 | -297 | 11 | 96 | -69 | -3 | 23 | 17 | 48 | |
| Free Cash Flow | 112 | 221 | 32 | 110 | 60 | -28 | 109 | 19 | 131 | 788 |
| OCF / Net Profit | 0.84 | 1.14 | 0.53 | 1.41 | 1.33 | 0.97 | 0.94 | 0.48 | 0.60 | 1.60 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 534 | 394 | 282 | 269 | 290 | 1,019 |
| OCF / Net Profit | 0.84 | 1.14 | 0.53 | 1.41 | 1.33 | 0.97 | 0.94 | 0.48 | 0.60 | 1.60 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 534 | 394 | 282 | 269 | 290 | 1,019 |
Mar 2017
- 180
- Cash from Investing
- -120
- Cash from Financing
- -14
- 46
- Free Cash Flow
- 112
- OCF / Net Profit
- 0.84
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.84
- Cumulative 5-Year FCF
- 0
Mar 2018
- 311
- Cash from Investing
- -205
- Cash from Financing
- -18
- 88
- Free Cash Flow
- 221
- OCF / Net Profit
- 1.14
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.14
- Cumulative 5-Year FCF
- 0
Mar 2019
- 150
- Cash from Investing
- -429
- Cash from Financing
- -18
- -297
- Free Cash Flow
- 32
- OCF / Net Profit
- 0.53
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 0.53
- Cumulative 5-Year FCF
- 0
Mar 2020
- 224
- Cash from Investing
- -165
- Cash from Financing
- -48
- 11
- Free Cash Flow
- 110
- OCF / Net Profit
- 1.41
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 1.41
- Cumulative 5-Year FCF
- 0
Mar 2021
- 138
- Cash from Investing
- -24
- Cash from Financing
- -19
- 96
- Free Cash Flow
- 60
- OCF / Net Profit
- 1.33
- Cumulative 5-Year FCF
- 534
- OCF / Net Profit
- 1.33
- Cumulative 5-Year FCF
- 534
Mar 2022
- 138
- Cash from Investing
- -178
- Cash from Financing
- -28
- -69
- Free Cash Flow
- -28
- OCF / Net Profit
- 0.97
- Cumulative 5-Year FCF
- 394
- OCF / Net Profit
- 0.97
- Cumulative 5-Year FCF
- 394
Mar 2023
- 299
- Cash from Investing
- -271
- Cash from Financing
- -31
- -3
- Free Cash Flow
- 109
- OCF / Net Profit
- 0.94
- Cumulative 5-Year FCF
- 282
- OCF / Net Profit
- 0.94
- Cumulative 5-Year FCF
- 282
Mar 2024
- 193
- Cash from Investing
- -136
- Cash from Financing
- -34
- 23
- Free Cash Flow
- 19
- OCF / Net Profit
- 0.48
- Cumulative 5-Year FCF
- 269
- OCF / Net Profit
- 0.48
- Cumulative 5-Year FCF
- 269
Mar 2025
- 274
- Cash from Investing
- -212
- Cash from Financing
- -44
- 17
- Free Cash Flow
- 131
- OCF / Net Profit
- 0.60
- Cumulative 5-Year FCF
- 290
- OCF / Net Profit
- 0.60
- Cumulative 5-Year FCF
- 290
Mar 2026
- 809
- Cash from Investing
- -709
- Cash from Financing
- -52
- 48
- Free Cash Flow
- 788
- OCF / Net Profit
- 1.60
- Cumulative 5-Year FCF
- 1,019
- OCF / Net Profit
- 1.60
- Cumulative 5-Year FCF
- 1,019
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 112.55 | 143.84 | 148.76 | 83.73 | 54.73 | 74.90 | 167.48 | 213.41 | 241.81 | 267.13 |
| Book Value (₹) | 665.33 | 800.35 | 938.43 | 998.83 | 1052.53 | 1114.57 | 1270.12 | 1470.22 | 1692.78 | 1938.24 |
| Dividend per Share (₹) | 7.00 | 8.00 | 9.00 | 10.00 | 11.00 | 12.00 | 13.00 | 17.00 | 19.00 | 4.00 |
| Cash EPS (₹) | 24.17 | 29.40 | 31.07 | 21.87 | 17.06 | 20.61 | 37.12 | 45.19 | 51.08 | 55.91 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 16.04% | 17.03% | 16.90% | 16.34% | 12.91% | 11.24% | 15.37% | 14.81% | 16.19% | 15.40% |
| Net Margin % | 9.44% | 10.44% | 9.89% | 8.23% | 5.48% | 5.51% | 9.09% | 10.65% | 11.87% | 12.24% |
| ROE % | 18.33% | 19.63% | 17.11% | 8.64% | 5.34% | 6.91% | 14.05% | 15.58% | 15.29% | 14.71% |
| ROCE % | 25.78% | 27.46% | 24.86% | 12.26% | 7.93% | 9.62% | 19.13% | 21.14% | 20.42% | 19.91% |
| 13.10% | 13.97% | 12.53% | 7.03% | 4.45% | 5.56% | 11.31% | 12.77% | 12.96% | 12.56% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 77 | 81 | 82 | 94 | 91 | 89 | 74 | 81 | 97 | 89 |
| Inventory Days | 26 | 19 | 18 | 25 | 22 | 18 | 16 | 15 | 17 | 20 |
| Payable Days | 99 | 98 | 95 | 90 | 80 | 76 | 59 | 58 | 58 | 59 |
| 4 | 3 | 6 | 29 | 33 | 30 | 31 | 39 | 55 | 50 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x |
| Interest Coverage (x) | 647.97x | 237.05x | 0.00x | 117.36x | 77.44x | 103.93x | 76.35x | 109.69x | 107.37x | 129.65x |
| 2.92x | 2.74x | 3.39x | 5.93x | 3.92x | 3.92x | 4.19x | 4.94x | 6.03x | 5.60x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | 12.83% | 24.47% | 10.91% | -32.39% | -3.42% | 36.48% | 35.43% | 9.85% | 0.54% | 6.61% |
| Operating Profit Growth % | 10.97% | 22.78% | 8.36% | -34.62% | -22.42% | 18.56% | 85.23% | 22.63% | 11.58% | 11.96% |
| Net Profit Growth % | 4.97% | 27.80% | 3.42% | -43.72% | -34.64% | 36.87% | 123.60% | 27.42% | 13.31% | 10.47% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 27.42% | 13.31% | 10.47% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 70.94x | 8.95x | 8.68x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 10.30x | 7.68x | 7.18x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.11% | 0.15% | 0.03% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 41.62x | 31.53x | 30.09x |
Mar 2017
- EPS (₹)
- 112.55
- Book Value (₹)
- 665.33
- Dividend per Share (₹)
- 7.00
- Cash EPS (₹)
- 24.17
- Operating Margin %
- 16.04%
- Net Margin %
- 9.44%
- ROE %
- 18.33%
- ROCE %
- 25.78%
- 13.10%
- Debtor Days
- 77
- Inventory Days
- 26
- Payable Days
- 99
- 4
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 647.97x
- 2.92x
- Revenue Growth %
- 12.83%
- Operating Profit Growth %
- 10.97%
- Net Profit Growth %
- 4.97%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2018
- EPS (₹)
- 143.84
- Book Value (₹)
- 800.35
- Dividend per Share (₹)
- 8.00
- Cash EPS (₹)
- 29.40
- Operating Margin %
- 17.03%
- Net Margin %
- 10.44%
- ROE %
- 19.63%
- ROCE %
- 27.46%
- 13.97%
- Debtor Days
- 81
- Inventory Days
- 19
- Payable Days
- 98
- 3
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 237.05x
- 2.74x
- Revenue Growth %
- 24.47%
- Operating Profit Growth %
- 22.78%
- Net Profit Growth %
- 27.80%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2019
- EPS (₹)
- 148.76
- Book Value (₹)
- 938.43
- Dividend per Share (₹)
- 9.00
- Cash EPS (₹)
- 31.07
- Operating Margin %
- 16.90%
- Net Margin %
- 9.89%
- ROE %
- 17.11%
- ROCE %
- 24.86%
- 12.53%
- Debtor Days
- 82
- Inventory Days
- 18
- Payable Days
- 95
- 6
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 0.00x
- 3.39x
- Revenue Growth %
- 10.91%
- Operating Profit Growth %
- 8.36%
- Net Profit Growth %
- 3.42%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2020
- EPS (₹)
- 83.73
- Book Value (₹)
- 998.83
- Dividend per Share (₹)
- 10.00
- Cash EPS (₹)
- 21.87
- Operating Margin %
- 16.34%
- Net Margin %
- 8.23%
- ROE %
- 8.64%
- ROCE %
- 12.26%
- 7.03%
- Debtor Days
- 94
- Inventory Days
- 25
- Payable Days
- 90
- 29
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 117.36x
- 5.93x
- Revenue Growth %
- -32.39%
- Operating Profit Growth %
- -34.62%
- Net Profit Growth %
- -43.72%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2021
- EPS (₹)
- 54.73
- Book Value (₹)
- 1052.53
- Dividend per Share (₹)
- 11.00
- Cash EPS (₹)
- 17.06
- Operating Margin %
- 12.91%
- Net Margin %
- 5.48%
- ROE %
- 5.34%
- ROCE %
- 7.93%
- 4.45%
- Debtor Days
- 91
- Inventory Days
- 22
- Payable Days
- 80
- 33
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 77.44x
- 3.92x
- Revenue Growth %
- -3.42%
- Operating Profit Growth %
- -22.42%
- Net Profit Growth %
- -34.64%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2022
- EPS (₹)
- 74.90
- Book Value (₹)
- 1114.57
- Dividend per Share (₹)
- 12.00
- Cash EPS (₹)
- 20.61
- Operating Margin %
- 11.24%
- Net Margin %
- 5.51%
- ROE %
- 6.91%
- ROCE %
- 9.62%
- 5.56%
- Debtor Days
- 89
- Inventory Days
- 18
- Payable Days
- 76
- 30
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 103.93x
- 3.92x
- Revenue Growth %
- 36.48%
- Operating Profit Growth %
- 18.56%
- Net Profit Growth %
- 36.87%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2023
- EPS (₹)
- 167.48
- Book Value (₹)
- 1270.12
- Dividend per Share (₹)
- 13.00
- Cash EPS (₹)
- 37.12
- Operating Margin %
- 15.37%
- Net Margin %
- 9.09%
- ROE %
- 14.05%
- ROCE %
- 19.13%
- 11.31%
- Debtor Days
- 74
- Inventory Days
- 16
- Payable Days
- 59
- 31
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 76.35x
- 4.19x
- Revenue Growth %
- 35.43%
- Operating Profit Growth %
- 85.23%
- Net Profit Growth %
- 123.60%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 213.41
- Book Value (₹)
- 1470.22
- Dividend per Share (₹)
- 17.00
- Cash EPS (₹)
- 45.19
- Operating Margin %
- 14.81%
- Net Margin %
- 10.65%
- ROE %
- 15.58%
- ROCE %
- 21.14%
- 12.77%
- Debtor Days
- 81
- Inventory Days
- 15
- Payable Days
- 58
- 39
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 109.69x
- 4.94x
- Revenue Growth %
- 9.85%
- Operating Profit Growth %
- 22.63%
- Net Profit Growth %
- 27.42%
- 27.42%
- P/E (x)
- 70.94x
- P/B (x)
- 10.30x
- Dividend Yield %
- 0.11%
- 41.62x
Mar 2025
- EPS (₹)
- 241.81
- Book Value (₹)
- 1692.78
- Dividend per Share (₹)
- 19.00
- Cash EPS (₹)
- 51.08
- Operating Margin %
- 16.19%
- Net Margin %
- 11.87%
- ROE %
- 15.29%
- ROCE %
- 20.42%
- 12.96%
- Debtor Days
- 97
- Inventory Days
- 17
- Payable Days
- 58
- 55
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 107.37x
- 6.03x
- Revenue Growth %
- 0.54%
- Operating Profit Growth %
- 11.58%
- Net Profit Growth %
- 13.31%
- 13.31%
- P/E (x)
- 8.95x
- P/B (x)
- 7.68x
- Dividend Yield %
- 0.15%
- 31.53x
Mar 2026
- EPS (₹)
- 267.13
- Book Value (₹)
- 1938.24
- Dividend per Share (₹)
- 4.00
- Cash EPS (₹)
- 55.91
- Operating Margin %
- 15.40%
- Net Margin %
- 12.24%
- ROE %
- 14.71%
- ROCE %
- 19.91%
- 12.56%
- Debtor Days
- 89
- Inventory Days
- 20
- Payable Days
- 59
- 50
- Debt to Equity (x)
- 0.00x
- Interest Coverage (x)
- 129.65x
- 5.60x
- Revenue Growth %
- 6.61%
- Operating Profit Growth %
- 11.96%
- Net Profit Growth %
- 10.47%
- 10.47%
- P/E (x)
- 8.68x
- P/B (x)
- 7.18x
- Dividend Yield %
- 0.03%
- 30.09x
Documents
Announcements
- Action(s) initiated or orders passed
2026-08-12 - ZF Commercial Vehicle Control Systems India Limited has informed the Exchange about receipt of show cause notice
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-03 - ZF Commercial Vehicle Control Systems India Limited has informed the Exchange about Transcript
Annual Reports
Credit Ratings
Nothing filed yet.
Concalls
Aug 2026
May 2026
Feb 2026