ZF Commercial Vehicle Control Systems India Limited Share Price & Analysis
Price Chart
Fundamentals
Strengths
- Efficient capital deployment (ROCE 19.4%)
- Virtually debt-free
- Near 52-week low — potential value zone (₹2,050)
Concerns
Peer Comparison
| Company | CMP | Mkt Cap | P/E | P/B | ROE % | ROCE % | D/E |
|---|---|---|---|---|---|---|---|
| MARUTI Maruti Suzuki India Limited | ₹12,694 | ₹4.0L Cr | 27.8 | 3.72 | 14.3 | 18.9 | 0 |
| M&M Mahindra & Mahindra Limited | ₹3,170 | ₹3.9L Cr | 20.6 | 4.23 | 20.3 | 15.1 | 1.53 |
| BAJAJ-AUTO Bajaj Auto Limited | ₹11,919 | ₹3.3L Cr | 27.8 | 8.58 | 29.2 | 28.2 | 0.58 |
| EICHERMOT Eicher Motors Limited | ₹7,631 | ₹2.1L Cr | 36 | 8.34 | 24 | 30.5 | 0.02 |
| TVSMOTOR TVS Motor Company Limited | ₹4,133 | ₹2.0L Cr | 56.8 | 20.56 | 33.6 | 17.4 | 3.89 |
| HYUNDAI Hyundai Motor India Limited | ₹2,205 | ₹1.8L Cr | 36.2 | 8.96 | 29.9 | 38.4 | 0.05 |
| MOTHERSON Samvardhana Motherson International Limited | ₹161 | ₹1.7L Cr | 37.1 | 4.14 | 11.2 | 13.4 | 0.53 |
Showing 7 peers in the same sector · Sorted by market cap
Shareholding Pattern
ZFCVINDIA · as of Mar 2026
| Category | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Promoters | 75.00% | 75.00% | 67.49% | 67.49% | 63.16% | 63.16% |
| FII | 2.01% | 2.24% | 3.74% | 4.12% | 5.11% | 5.57% |
| DII | 15.78% | 15.77% | 21.20% | 21.03% | 23.85% | 23.32% |
| Public | 7.21% | 6.99% | 7.59% | 7.36% | 7.87% | 7.95% |
Corporate Events
To consider and approve the financial results for the period ended Jun 30, 2026
Dividend - Rs 4 Per Share
Bonus 5:1
Dividend - Rs 19 Per Share
Dividend - Rs 17 Per Share
Dividend - Rs 13 Per Share
Latest News
All newsZF CVCS India secures ESC business from three OEMs ahead of safety mandate
*ZF CVCS India secures ESC business from three OEMs ahead of safety mandate.* The company announced ESC business nominations from three major OEMs, ahead of India’s upcoming truck safety mandate effective October 2026. This positions ZF STEERS strongly in the expanding electronic safety systems market. The nominations are expected to drive future revenue growth as compliance deadlines near. 📊 *STOCKS:* $ZFSTEERS | 🏢 *SECTOR:* Auto | #MEDIUMIMPACT #Auto #Orders
ZF India gets ₹28 crore GST notice
*ZF India gets ₹28 crore GST notice* – The company received a show-cause notice from GST authorities over alleged tax dues of **₹28 crore**. The notice raises concerns about potential financial liability and future cash flow. ZF CV has initiated legal proceedings to contest the assessment. 📊 *STOCKS:* $ZFCV | 🏢 *SECTOR:* Auto | #MEDIUMIMPACT #GST
ZF India hit with ₹279.9Cr tax notice
*ZF India hit with ₹279.9Cr tax notice*. ZF Commercial Vehicle Control Systems India has received a tax show-cause notice seeking payment of **₹279.9 million**. The company may face financial liability depending on the outcome of the dispute. This could impact near-term profitability and investor sentiment. 📊 *STOCKS:* $ZFCV | 🏢 *SECTOR:* Auto | #MEDIUMIMPACT #TaxNotice
ZF CVCS India issues general updates via NSE filing
ZF Commercial Vehicle Control Systems India Limited has made general corporate updates through an NSE filing. The announcement lacks specific financial or operational details. Such routine disclosures typically do not alter the company's business trajectory. Further clarity may emerge in subsequent filings. 📊 *STOCKS:* ZFCONTROLS | 🏢 *SECTOR:* Auto | #LOWIMPACT #CorporateUpdate
Financials
Quarterly Results
| Metric | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1.2K Cr 7.4% | ₹1.1K Cr 17.7% | ₹913 Cr 6.5% | ₹976 Cr 3.6% | ₹1.0K Cr 5.2% | ₹962 Cr 5.6% | ₹911 Cr 3.7% | ₹946 Cr |
| Op. Profit | ₹190 Cr 4.5% | ₹199 Cr 48.5% | ₹134 Cr 1.5% | ₹132 Cr 24.6% | ₹175 Cr 1.1% | ₹177 Cr 26.4% | ₹140 Cr 0.7% | ₹139 Cr |
| OPM | 16.0% 15.8% | 19.0% 26.7% | 15.0% 15.4% | 13.0% 23.5% | 17.0% 5.6% | 18.0% 20.0% | 15.0% 0.0% | 15.0% |
| Net Profit | ₹146 Cr 4.3% | ₹140 Cr 29.6% | ₹108 Cr 11.5% | ₹122 Cr 3.9% | ₹127 Cr 1.6% | ₹125 Cr 14.7% | ₹109 Cr 10.1% | ₹99 Cr |
| EPS (₹) | 12.86 4.4% | 12.32 29.5% | 9.51 11.5% | 10.75 3.5% | 11.14 1.1% | 11.02 14.9% | 9.59 9.7% | 8.74 |
Values in ₹ Cr · Source: Screener.in
Annual Profit & Loss
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
| Revenue | ₹4.1K Cr 7.5% | ₹3.8K Cr 0.4% | ₹3.8K Cr 10.8% | ₹3.4K Cr 35.4% | ₹2.5K Cr |
| Expenses | ₹3.5K Cr 8.2% | ₹3.2K Cr 1.5% | ₹3.2K Cr 9.2% | ₹3.0K Cr 29.8% | ₹2.3K Cr |
| Op. Profit | ₹657 Cr 4.0% | ₹632 Cr 11.5% | ₹567 Cr 20.6% | ₹470 Cr 85.8% | ₹253 Cr |
| OPM | 16.0% 0.0% | 16.0% 6.7% | 15.0% 7.1% | 14.0% 40.0% | 10.0% |
| Other Income | ₹173 Cr 60.2% | ₹108 Cr 13.7% | ₹95 Cr 41.8% | ₹67 Cr 76.3% | ₹38 Cr |
| Interest | ₹5 Cr 16.7% | ₹6 Cr 20.0% | ₹5 Cr 16.7% | ₹6 Cr 200.0% | ₹2 Cr |
| Depreciation | ₹132 Cr 6.5% | ₹124 Cr 12.7% | ₹110 Cr 4.8% | ₹105 Cr 14.1% | ₹92 Cr |
| PBT | ₹693 Cr 13.8% | ₹609 Cr 11.5% | ₹546 Cr 27.9% | ₹427 Cr 117.9% | ₹196 Cr |
| Tax % | 25.0% 4.2% | 24.0% 7.7% | 26.0% 0.0% | 26.0% 3.7% | 27.0% |
| Net Profit | ₹517 Cr 12.1% | ₹461 Cr 13.5% | ₹406 Cr 27.7% | ₹318 Cr 123.9% | ₹142 Cr |
| EPS (₹) | 45.44 12.2% | 40.49 13.4% | 35.72 28.0% | 27.91 123.6% | 12.48 |
| Div Payout | 1.0% 87.5% | 8.0% 0.0% | 8.0% 0.0% | 8.0% 50.0% | 16.0% |
Values in ₹ Cr · Source: Screener.in
Balance Sheet
| Item | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Liabilities | |||||
| Equity Capital | ₹9 Cr 0.0% | ₹9 Cr 0.0% | ₹9 Cr 0.0% | ₹9 Cr 0.0% | ₹9 Cr |
| Reserves | ₹3.7K Cr 14.9% | ₹3.2K Cr 15.2% | ₹2.8K Cr 15.9% | ₹2.4K Cr 14.0% | ₹2.1K Cr |
| Borrowings | ₹55 Cr 16.7% | ₹66 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other Liabilities | ₹680 Cr 34.7% | ₹505 Cr 14.6% | ₹591 Cr 3.6% | ₹613 Cr 17.2% | ₹523 Cr |
| Total Liabilities | ₹4.4K Cr 16.9% | ₹3.8K Cr 11.9% | ₹3.4K Cr 11.9% | ₹3.0K Cr 14.6% | ₹2.6K Cr |
Assets | |||||
| Fixed Assets | ₹732 Cr 0.5% | ₹736 Cr 9.4% | ₹673 Cr 14.7% | ₹587 Cr 9.5% | ₹536 Cr |
| CWIP | ₹61 Cr 10.3% | ₹68 Cr 19.0% | ₹84 Cr 9.1% | ₹77 Cr 285.0% | ₹20 Cr |
| Investments | ₹605 Cr 1916.7% | ₹30 Cr 20.0% | ₹25 Cr 75.0% | ₹100 Cr 74.9% | ₹398 Cr |
| Other Assets | ₹3.0K Cr 2.6% | ₹3.0K Cr 13.5% | ₹2.6K Cr 15.1% | ₹2.3K Cr 34.2% | ₹1.7K Cr |
| Total Assets | ₹4.4K Cr 16.9% | ₹3.8K Cr 11.9% | ₹3.4K Cr 11.9% | ₹3.0K Cr 14.6% | ₹2.6K Cr |
Values in ₹ Cr · Source: Screener.in
Cash Flow Statement
| Item | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
| Operating CF | ₹810 Cr 183.2% | ₹286 Cr 48.2% | ₹193 Cr 35.2% | ₹298 Cr 115.9% | ₹138 Cr |
| Investing CF | ₹-696 Cr 206.6% | ₹-227 Cr 73.3% | ₹-131 Cr 51.5% | ₹-270 Cr 52.5% | ₹-177 Cr |
| Financing CF | ₹-52 Cr 18.2% | ₹-44 Cr 29.4% | ₹-34 Cr 9.7% | ₹-31 Cr 10.7% | ₹-28 Cr |
| Net Cash Flow | ₹62 Cr 313.3% | ₹15 Cr 46.4% | ₹28 Cr 1033.3% | ₹-3 Cr 95.6% | ₹-68 Cr |
| Free Cash Flow | ₹667 Cr 451.2% | ₹121 Cr 2520.0% | ₹-5 Cr 102.9% | ₹171 Cr 550.0% | ₹-38 Cr |
Values in ₹ Cr · Source: Screener.in
Key Ratios History
| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
| Debtor Days | 83d 22.4% | 107d 18.9% | 90d 12.5% | 80d 16.7% | 96d |
| Inventory Days | 43d 38.7% | 31d 14.8% | 27d 3.8% | 26d 18.8% | 32d |
| Days Payable | 71d 22.4% | 58d 3.3% | 60d 0.0% | 60d 24.1% | 79d |
| Cash Conv. Cycle | 56d 30.0% | 80d 40.4% | 57d 21.3% | 47d 4.1% | 49d |
| Working Capital Days | 54d 34.1% | 82d 32.3% | 62d 34.8% | 46d 17.9% | 56d |
| ROCE | 19.0% 5.0% | 20.0% 4.8% | 21.0% 10.5% | 19.0% | — |
Source: Screener.in · Lower days = better efficiency