Z F Steering Gear (India) Ltd
ZF Steering Gear (India) Ltd. was incorporated in 1981 as a joint venture ZF Friedrichshafen AG. The Company is primarily engaged in the business of production & assembling of steering systems for vehicles, buses and tractors.
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- Market Cap ₹ 898 Cr.
- Current Price ₹ 990
- High / Low ₹ 1,027 / 525
- Stock P/E 18.9
- Book Value ₹ 485
- Dividend Yield 0.50 %
- ROCE 8.66 %
- ROE 6.32 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Debtor days have improved from 111 to 86.8 days.
Cons
- Company has a low return on equity of 4.53% over last 3 years.
- Earnings include an other income of Rs.35.1 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Auto Ancillaries Industry: Auto Ancillaries
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
352 | 313 | 291 | 330 | 381 | 399 | 436 | 439 | 287 | 201 | 313 | 450 | 479 | |
294 | 248 | 232 | 272 | 302 | 317 | 347 | 364 | 254 | 183 | 272 | 394 | 421 | |
Operating Profit | 58 | 65 | 59 | 58 | 79 | 82 | 88 | 76 | 33 | 18 | 41 | 57 | 58 |
OPM % | 16% | 21% | 20% | 18% | 21% | 21% | 20% | 17% | 12% | 9% | 13% | 13% | 12% |
28 | 11 | 7 | 9 | 6 | 12 | 10 | -56 | 4 | 26 | 21 | 13 | 35 | |
Interest | 1 | 4 | 1 | 1 | 2 | 2 | 3 | 2 | 1 | 0 | 0 | 1 | 1 |
Depreciation | 17 | 23 | 21 | 23 | 25 | 28 | 33 | 31 | 32 | 38 | 31 | 32 | 33 |
Profit before tax | 68 | 49 | 45 | 43 | 58 | 63 | 61 | -14 | 3 | 7 | 30 | 37 | 59 |
Tax % | 32% | 48% | 69% | 17% | 23% | 21% | 23% | 90% | 109% | -31% | 39% | 32% | |
46 | 26 | 14 | 36 | 45 | 50 | 47 | -1 | -0 | 9 | 18 | 25 | 48 | |
EPS in Rs | 51.21 | 28.24 | 15.54 | 39.19 | 49.66 | 54.80 | 51.88 | -1.44 | -0.31 | 9.75 | 20.14 | 28.04 | 52.36 |
Dividend Payout % | 20% | 28% | 45% | 26% | 25% | 15% | 15% | 0% | 0% | 0% | 0% | 18% |
Compounded Sales Growth | |
---|---|
10 Years: | 4% |
5 Years: | 1% |
3 Years: | 16% |
TTM: | 11% |
Compounded Profit Growth | |
---|---|
10 Years: | 3% |
5 Years: | -11% |
3 Years: | 355% |
TTM: | 165% |
Stock Price CAGR | |
---|---|
10 Years: | 12% |
5 Years: | 6% |
3 Years: | 40% |
1 Year: | 84% |
Return on Equity | |
---|---|
10 Years: | 9% |
5 Years: | 6% |
3 Years: | 5% |
Last Year: | 6% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
Reserves | 193 | 210 | 217 | 239 | 270 | 329 | 370 | 359 | 358 | 368 | 386 | 411 | 431 |
66 | 19 | 15 | 23 | 35 | 62 | 64 | 46 | 3 | 32 | 34 | 41 | 39 | |
62 | 70 | 69 | 65 | 61 | 61 | 68 | 73 | 66 | 57 | 44 | 50 | 62 | |
Total Liabilities | 330 | 308 | 310 | 336 | 375 | 462 | 510 | 487 | 436 | 466 | 473 | 510 | 541 |
121 | 99 | 96 | 101 | 106 | 121 | 106 | 111 | 199 | 175 | 159 | 145 | 136 | |
CWIP | 0 | 6 | 4 | 1 | 1 | 0 | 1 | 26 | 7 | 2 | 2 | 2 | 10 |
Investments | 108 | 91 | 99 | 137 | 165 | 190 | 231 | 152 | 107 | 120 | 119 | 155 | 165 |
101 | 112 | 110 | 98 | 104 | 151 | 173 | 198 | 124 | 168 | 192 | 208 | 230 | |
Total Assets | 330 | 308 | 310 | 336 | 375 | 462 | 510 | 487 | 436 | 466 | 473 | 510 | 541 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
58 | 48 | 26 | 48 | 67 | 63 | 68 | 73 | 75 | -26 | 15 | 51 | |
-72 | 17 | -28 | -57 | -54 | -47 | -55 | -43 | -29 | 1 | -16 | -62 | |
23 | -57 | -13 | -2 | -14 | -16 | -10 | -28 | -44 | 26 | -3 | 10 | |
Net Cash Flow | 10 | 8 | -16 | -11 | -1 | -0 | 2 | 2 | 2 | 1 | -4 | -2 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 37 | 44 | 59 | 58 | 53 | 70 | 77 | 64 | 62 | 142 | 105 | 87 |
Inventory Days | 44 | 50 | 53 | 44 | 37 | 60 | 58 | 54 | 49 | 116 | 111 | 73 |
Days Payable | 41 | 70 | 82 | 70 | 64 | 69 | 74 | 51 | 71 | 94 | 53 | 44 |
Cash Conversion Cycle | 40 | 25 | 31 | 32 | 26 | 61 | 61 | 67 | 41 | 164 | 163 | 115 |
Working Capital Days | 18 | 12 | 22 | 27 | 29 | 62 | 63 | 40 | 31 | 134 | 137 | 100 |
ROCE % | 25% | 17% | 17% | 15% | 20% | 18% | 15% | 13% | 1% | 2% | 7% | 9% |
Documents
Announcements
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Certificate For Transfer/ Transmission/ Transposition
12 Apr - Certificate of Transfer/ Transmission/ Transposition and issue of letter of confirmation for the year ended on March 31, 2024
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
8 Apr - Certificate of RTA for the Quarter ended on March 31, 2024
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Disclosure Under Regulation 30
5 Apr - Update on Subsidiaries of the Company
- Compliance Certificate As On March 31, 2024, Pursuant To Regulation 7(3) Of The SEBI (LODR) Regulations, 2015. 4 Apr
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Announcement under Regulation 30 (LODR)-Change in Directorate
26 Mar - Completion of second term of five consecutive years of Mr. Manish Motwani, Non-Executive, Independent Director of the Company.
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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Financial Year 2009
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Concalls
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Apr 2023TranscriptNotesPPT
Product Portfolio
Auto component (92%):
The product range includes: Steering systems, vane pump, pump pulleys, oil reservoirs, steering columns, Universal joints, bevel gear boxes, etc. [1] [2]
~57% of revenue came from three major customers of the Company. [3]