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    Consumer Cyclical

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    Auto - Parts
ZF Steering Gear (India) Limited

ZF Steering Gear (India) Limited

ZFSTEERING.BO
ZF Steering Gear (India) LimitedIN flagBombay Stock Exchange
655.25
INR
-27.15
- -
5.95BMarket Cap
ZF Steering Gear (India) Limited
ZFSTEERING.BO
(Bombay Stock Exchange)

Recent

price

655.25

P/E

ratio

- -

div

yld

- -

ROIC.AI

2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
328.69
388.19
345.02
320.83
387.15
467.28
437.85
466.22
482.36
314.99
221.19
344.82
493.24
524.85
544.18
629.32
638.8
Revenue per Share
45.09
51.2
28.25
15.54
22.78
27.96
34.51
47.65
-1.44
-0.31
9.75
20.14
27.05
48.15
16.44
16.96
17.22
Basic EPS, GAAP
-9.2
-34.28
31.64
-1.22
-7.14
14.54
22.17
50.38
11.86
5.46
-40.21
-19.95
10.15
-65.33
-21.38
-12.79
- -
Free Cash Flow per Basic Share
11.56
11.57
5.88
9.29
8.15
26.97
0.03
9.62
9.67
0.06
0.09
0.09
- -
5.24
7.97
0.09
- -
Dividend per Share
10
11.39
12.44
12.07
-28.25
-4.29
29.37
69.29
143.87
142.59
153.16
173.55
199.5
243.06
9.99
10
10.15
Book Value per Share
182.86
222.25
240.18
246.18
231.74
255.52
289.56
328.25
404.02
402.8
413.88
434.65
460.37
503.79
515.01
528.59
536.56
Tangible Book Value per Share
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
9
Basic Weighted Avg Shares
2,982
3,522
3,129
2,911
3,513
4,240
3,973
4,230
4,377
2,858
2,007
3,128
4,475
4,762
4,939
5,711
5,711
Sales/Revenue/Turnover
19.61
14.77
13.19
14.78
5.42
8.25
13.66
13.15
10.84
2.58
-8.92
2.95
6.92
3.9
2.09
4.83
4.83
Operating Margin (%)
149
169
231
210
274
306
279
333
310
325
376
314
322
337
428
473
473
Depreciation Expense
409
465
256
141
207
254
313
432
-13
-3
88
183
245
437
149
154
154
Net Income, GAAP
29.75
31.78
47.72
68.57
26
32.98
30.08
24.87
- -
109.36
- -
38.9
32.4
15.79
48.61
58.12
58.12
Effective Tax Rate (%)
13.72
13.19
8.19
4.85
5.88
5.98
7.88
10.22
-0.3
-0.1
4.41
5.84
5.48
9.17
3.02
2.69
2.69
Profit Margin (%)
368
218
423
309
360
72
285
382
406
304
524
931
885
984
718
372
372
Working Capital
176
476
146
124
101
79
158
146
210
20
14
51
63
388
434
396
396
LT Debt
1,659
2,018
2,190
2,256
2,120
2,338
2,643
3,005
3,682
3,670
3,766
3,951
4,187
4,582
4,683
4,803
4,803
Total Equity
23.65
15.77
8.59
5.7
5.98
9.36
12.75
12.1
- -
-0.18
- -
1.35
4.7
3.14
0.96
2
2
Return on Invested Capital (%)
128.02
93
49.63
54.7
228.69
203.38
53.12
40.97
- -
-0.22
- -
10.19
12.02
17.05
10.08
19.54
9.93
Return on Capital (%)
450.89
478.79
237.07
126.88
- -
- -
- -
96.58
-1.35
-0.22
6.6
12.33
14.5
21.76
13
169.68
12.97
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
670
- -
668
LT Borrowings
404
- -
354
LT Finance Leases
12
- -
42
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
9
- -
9
Market Capitalization
9,483
7,478
5,193

Working Capital

FRC

•

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
2,071
- -
1,880
Cash, Cash Equivalents & STI
80
- -
95
Accounts Receivable, Net
967
- -
1,007
Inventories
716
- -
673
Total Current Liabilities
1,258
- -
1,507
Payables & Accruals
- -
- -
- -
ST Debt
670
- -
668
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
7.66%
5.02%
2.58%
Free Cash Flow
-184.01%
-210.47%
-40.15%
Net Income, GAAP
-322.48%
31.22%
3.15%
Sales/Revenue/Turnover
6.38%
24.94%
15.63%
Total Cash Common Dividend
- -
- -
-98.89%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,209
1,193
1,135
1,225
4,762
2025
1,281
1,112
1,176
1,370
4,939
2026
1,329
1,206
1,432
1,743
5,711

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
12.87
13.8
12.4
- -
48.15
2025
11.23
1.9
-0.95
4.27
16.44
2026
7.88
-0.43
8.64
-0.04
16.96

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
5.24
2025
- -
- -
- -
- -
7.97
2026
- -
- -
- -
- -
0.09
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Business
ZF Steering Gear (India) Limited manufactures and supplies steering systems for commercial vehicles, buses, tractors, and light vehicles in India and select export markets including Nepal, Middle East, South Africa, and Bangladesh. The company produces ball and nut integral hydraulic power steering gears with an installed capacity of 375,000 units annually; worm and roller mechanical steering gears with a capacity of 200,000 units; vane pumps, pump pulleys, oil reservoirs, steering and pump mounting brackets, steering columns, and intermediate shafts. Incorporated in 1981 as a joint venture with ZF Friedrichshafen AG and headquartered at Gat No. 1242/44, Village Vadu Bk., Tal. Shirur, Dist. Pune, India, it operates manufacturing facilities in Pune, Maharashtra, and Pithampur, Madhya Pradesh, serving tier-I OEMs such as Tata Motors, Mahindra Trucks & Bus, Force Motors, and state transport undertakings with IATF 16949:2016 certified processes. The Munot family holds a 67.17% stake as promoter. Recent developments include the incorporation of two wholly-owned subsidiaries, DriveSys Systems Private Limited and NexSteer Systems Private Limited, to expand its business portfolio; maintenance of a 26% stake in joint venture ZF Lenksysteme India Private Limited in Pune following ownership changes involving Robert Bosch GmbH; and investments in renewable energy projects including wind and solar power.