ZF Steering Gear (India) Limited ZFSTEERING NSE

Consumer Cyclical · Auto Parts · India

https://www.zfindia.com

ZF Steering Gear (India) Limited engages in the production and assembly of steering systems for vehicles, buses, and tractors in India and internationally. It operates in two segments, Auto Component and Renewable Energy. The company offers ball and nut integral hydraulic power steering gears for heavy commercial vehicles, integral hydraulic power steering gears for medium and light commercial vehicles, power steering gears for SUVs and off-road vehicles, cast iron and aluminum vane pumps, oil reservoirs, steering and pump mounting brackets, integrated oil tanks, steering columns, drop arms, intermediate shafts, universal joints, and bevel gear boxes. It also provides worm and roller mechanical steering systems for tractors and light commercial vehicles, as well as related accessories; power rack and pinion steering systems for passenger cars; mechanical rack and pinion steering systems for one-ton passenger and goods carriers; double barrel steering gears; and tractor hydraulic power-assisted steering gears. The company offers its products and services through dealers. In addition, it generates electricity through solar and windmill sources. The company was incorporated in 1981 and is based in Pune, India.

Market & Price

Market Cap

Current Price

₹685.45

High / Low (52W)

₹855.20 / ₹685.45

Beta

Valuation

Stock P/E

40.49

Industry PE

26.67

Forward P/E

PEG Ratio

Book Value

₹-

Price to Book

P/S

EV/EBITDA

7.25

Dividend Yield

Profitability & Returns

ROCE

7.05%

ROE

2.54%

ROA

3.58%

Profit Margin

2.65%

Op Margin

5.14%

EPS (Latest Qtr)

₹-0.04

EPS (TTM)

₹16.93

Balance Sheet & Liquidity

Debt/Equity

0.22

Quick Ratio

0.70

Current Ratio

1.25

Debt

₹106.43 Cr

Total Assets

₹672.56 Cr

Current Assets

₹187.96 Cr

Working Capital

₹37.24 Cr

Ownership

Promoter Holding

74.81%

Chg in Prom Hold

FII / Inst Holding

0.00%

Chg in FII Hold

Financial Snapshot

Enterprise Value

₹614.43 Cr

Total Revenue (TTM)

₹580.92 Cr

EBITDA

₹84.77 Cr

Free Cash Flow

₹-15.25 Cr

Operating Cash Flow

₹98.15 Cr

Shares Outstanding

Gross Margin

40.52%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

8.46%

Profit 5Y

-14.40%

Revenue (YoY)

28.10%

Earnings (YoY)

PROS

No notable strengths flagged.

CONS

Earnings shrank at -14.4% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

NSE TradingView Screener.in

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Consumer Cyclical).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	ZFSTEERING ZF Steering Gear (India) Limited NSE	685.45	40.49	-	-	7.05%	2.54%	8.46%	-14.40%
2	MARUTI Maruti Suzuki India Limited NIFTY50NSEAI	13,127.00	28.09	₹4.13 L Cr	1.07%	17.22%	14.43%	16.60%	21.11%
3	M&M Mahindra & Mahindra Limited NIFTY50NSEAI	3,045.60	20.00	₹3.66 L Cr	1.08%	17.26%	18.75%	18.44%	18.48%
4	TITAN Titan Company Limited NIFTY50NSE	4,074.90	71.43	₹3.61 L Cr	0.27%	38.43%	37.13%	23.83%	16.00%
5	ETERNAL Eternal Limited NSEAITECH	250.58	626.45	₹2.30 L Cr	-	2.87%	1.19%	97.70%	45.90%
6	EICHERMOT Eicher Motors Limited NIFTY50NSEAI	7,177.00	35.71	₹1.97 L Cr	0.98%	26.43%	23.77%	17.47%	23.70%
7	TVSMOTOR TVS Motor Company Limited NSE	3,355.70	52.91	₹1.59 L Cr	0.36%	28.86%	31.62%	26.91%	31.46%
8	HYUNDAI HYUNDAI MOTOR INDIA LTD NSE	1,924.00	28.82	₹1.56 L Cr	1.09%	32.62%	29.92%	5.50%	4.87%
9	MOTHERSON Samvardhana Motherson International Limited NSEAI	145.74	39.82	₹1.53 L Cr	0.41%	11.82%	10.11%	17.10%	37.17%

Quarterly Results

Figures in INR.

Metric	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	137.02 Cr	132.93 Cr	120.56 Cr	143.23 Cr	174.34 Cr
Cost of Revenue	-	86.26 Cr	80.58 Cr	71.95 Cr	85.50 Cr	107.53 Cr
Gross Profit	-	50.76 Cr	52.35 Cr	48.61 Cr	57.73 Cr	66.81 Cr
Operating Expenses	-	48.64 Cr	44.92 Cr	47.73 Cr	46.10 Cr	59.15 Cr
Operating Income	-	2.12 Cr	7.43 Cr	88.00 L	11.63 Cr	7.66 Cr
EBITDA	-	20.95 Cr	23.54 Cr	13.31 Cr	25.06 Cr	22.19 Cr
Interest Expense	-	2.46 Cr	2.07 Cr	1.73 Cr	1.92 Cr	2.32 Cr
Pretax Income	-	5.65 Cr	10.76 Cr	10.00 L	11.21 Cr	6.68 Cr
Tax Provision	-	3.24 Cr	3.61 Cr	1.60 Cr	3.93 Cr	7.57 Cr
Net Income	-	3.87 Cr	7.97 Cr	-39.00 L	7.84 Cr	-3.00 L
Diluted EPS	-	4.27	7.88	-0.43	8.64	-0.04

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	447.53 Cr	476.21 Cr	493.87 Cr	571.06 Cr
Cost of Revenue	-	295.37 Cr	315.33 Cr	313.07 Cr	345.56 Cr
Gross Profit	-	152.16 Cr	160.88 Cr	180.80 Cr	225.50 Cr
Operating Expenses	-	121.20 Cr	136.65 Cr	170.46 Cr	197.90 Cr
Operating Income	-	30.96 Cr	24.23 Cr	10.34 Cr	27.60 Cr
EBITDA	-	69.10 Cr	86.49 Cr	73.84 Cr	84.10 Cr
Interest Expense	-	62.00 L	91.00 L	6.56 Cr	8.04 Cr
Pretax Income	-	36.30 Cr	51.87 Cr	24.50 Cr	28.75 Cr
Tax Provision	-	11.76 Cr	8.19 Cr	11.91 Cr	16.71 Cr
Net Income	-	24.54 Cr	43.69 Cr	14.92 Cr	15.39 Cr
Diluted EPS	-	27.05	48.15	16.44	16.96

Compounded Sales Growth

5 Years:	8.46%
1 Year:	28.10%

Compounded Profit Growth

5 Years:	-14.40%
1 Year:	-

Stock Price Performance

1 Year:	-18.37%
6 Months:	-
3 Months:	-
1 Month:	-15.15%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	511.74 Cr	594.06 Cr	635.99 Cr	672.56 Cr
Current Assets	-	172.36 Cr	193.45 Cr	194.54 Cr	187.96 Cr
Cash & Equivalents	-	22.00 L	11.45 Cr	95.00 L	4.98 Cr
Inventory	-	58.15 Cr	67.15 Cr	67.32 Cr	67.26 Cr
Receivables	-	106.85 Cr	97.70 Cr	110.64 Cr	100.74 Cr
Total Liabilities	-	93.06 Cr	135.84 Cr	167.73 Cr	192.22 Cr
Current Liabilities	-	83.90 Cr	95.03 Cr	122.76 Cr	150.72 Cr
Long Term Debt	-	2.10 Cr	35.63 Cr	41.47 Cr	35.44 Cr
Total Debt	-	43.32 Cr	76.77 Cr	100.33 Cr	106.43 Cr
Total Equity	-	418.68 Cr	458.21 Cr	465.91 Cr	481.34 Cr
Shares Outstanding	-	90.73 L	90.73 L	90.73 L	90.73 L

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	48.87 Cr	34.90 Cr	39.63 Cr	98.15 Cr
Investing Cash Flow	-	-62.59 Cr	-52.22 Cr	-64.43 Cr	-88.65 Cr
Financing Cash Flow	-	11.74 Cr	28.55 Cr	14.30 Cr	-5.47 Cr
Capital Expenditure	-	-39.66 Cr	-94.18 Cr	-59.03 Cr	-109.76 Cr
Free Cash Flow	-	9.21 Cr	-59.28 Cr	-19.40 Cr	-11.61 Cr
Net Change in Cash	-	-1.98 Cr	11.23 Cr	-10.50 Cr	4.03 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	34.0%	33.8%	36.6%	39.5%
Operating Margin %	-	6.9%	5.1%	2.1%	4.8%
Net Margin %	-	5.5%	9.2%	3.0%	2.7%
ROE %	-	5.9%	9.5%	3.2%	3.2%
ROCE %	-	7.2%	4.9%	2.0%	5.3%

Shareholding Pattern

Insiders

74.81%

Institutions

0.00%

Public Float

0.00%

Analyst View

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ZFSTEERING · Consumer Cyclical