Z F Steering Gear (India) Ltd

₹ 724 -4.66%

13 May - close price

About

Incorporated in 1981, ZF Steering Gear (India) Ltd is in the business of production & assembling of steering systems for vehicles, buses, and tractors^[1]

Key Points

Business Overview:^[1]^[2]^[3]
ZFSGL, promoted by the Munot family holding a 67.17% stake, is an IATF 16949:2016 certified manufacturer and supplier of Ball and Nut Integral Hydraulic Power and Worm and Roller Mechanical Steering Systems in India. The company operates as a tier-I supplier primarily serving the Commercial Vehicle segment, with minimal presence in the Personal Vehicle segment.

Website BSE NSE

Market Cap ₹ 654 Cr.
Current Price ₹ 724
High / Low ₹ 1,320 / 570
Stock P/E 42.0
Book Value ₹ 530
Dividend Yield 0.00 %
ROCE 6.48 %
ROE 3.29 %
Face Value ₹ 10.0

Add ratio to table

Edit ratios

Pros

Company's working capital requirements have reduced from 46.4 days to 20.6 days

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has a low return on equity of 5.21% over last 3 years.
Dividend payout has been low at 5.54% of profits over last 3 years
Promoter holding has decreased over last 3 years: -4.56%

* 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

Consumer Discretionary Automobile and Auto Components Auto Components Auto Components & Equipments

Part of BSE Consumer Discretionary

Edit Columns

Loading peers table ...

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	125.13	120.87	119.32	113.50	124.18	128.10	111.17	117.58	137.02	132.93	120.56	143.23	174.34
	109.28	102.48	106.00	103.49	113.60	111.84	99.79	107.06	122.06	114.79	108.20	119.67	153.49
Operating Profit	15.85	18.39	13.32	10.01	10.58	16.26	11.38	10.52	14.96	18.14	12.36	23.56	20.85
OPM %	12.67%	15.21%	11.16%	8.82%	8.52%	12.69%	10.24%	8.95%	10.92%	13.65%	10.25%	16.45%	11.96%
	7.95	6.81	5.89	12.51	9.08	8.13	5.40	1.20	5.99	5.40	0.95	1.50	1.34
Interest	0.25	0.16	0.17	0.14	0.54	1.29	1.16	1.65	2.46	2.07	1.73	1.92	2.32
Depreciation	9.09	7.76	8.13	8.49	9.33	8.88	9.69	11.37	12.84	10.71	11.48	11.93	13.19
Profit before tax	14.46	17.28	10.91	13.89	9.79	14.22	5.93	-1.30	5.65	10.76	0.10	11.21	6.68
Tax %	30.43%	32.47%	-14.76%	19.01%	15.83%	28.34%	70.99%	33.08%	57.35%	33.55%	1,600.00%	35.06%	113.32%
	10.06	11.67	12.52	11.25	8.24	10.19	1.72	-1.73	2.41	7.15	-1.50	7.28	-0.89
EPS in Rs	11.09	12.87	13.80	12.40	9.08	11.23	1.90	-0.95	4.27	8.78	-0.43	8.64	-0.03
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	351	423	399	436	439	313	450	478	494	571
	304	359	317	351	384	272	394	425	441	496
Operating Profit	46	64	82	84	56	41	57	52	53	75
OPM %	13%	15%	21%	19%	13%	13%	13%	11%	11%	13%
	10	6	-7	10	9	21	13	34	21	9
Interest	1	2	2	3	2	0	1	1	7	8
Depreciation	27	31	28	33	31	31	32	34	43	47
Profit before tax	28	38	45	58	31	30	36	52	24	29
Tax %	26%	33%	30%	25%	-39%	39%	32%	16%	49%	58%
	21	25	31	43	44	18	25	44	13	12
EPS in Rs	22.78	27.96	34.52	47.65	48.35	20.14	27.05	48.15	16.44	16.96
Dividend Payout %	44%	45%	23%	17%	0%	0%	18%	17%	0%	0%

Compounded Sales Growth
10 Years:	3%
5 Years:	%
3 Years:	8%
TTM:	16%

Compounded Profit Growth
10 Years:	-4%
5 Years:	%
3 Years:	-14%
TTM:	5%

Stock Price CAGR
10 Years:	-7%
5 Years:	11%
3 Years:	4%
1 Year:	-31%

Return on Equity
10 Years:	%
5 Years:	5%
3 Years:	5%
Last Year:	3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	9	9	9	9	9	9	9	9	9	9
Reserves	203	215	255	291	326	386	410	449	457	472
	23	35	62	64	46	34	43	77	100	106
	83	79	64	68	73	43	50	59	70	85
Total Liabilities	317	337	391	432	454	472	512	594	636	673
	125	131	121	106	111	159	158	205	245	230
CWIP	4	7	0	1	26	2	7	30	15	68
Investments	50	59	115	153	119	119	147	134	156	135
	138	140	154	173	198	192	199	226	220	239
Total Assets	317	337	391	432	454	472	512	594	636	673

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	48	51	63	68	72	15	49	35	39	98
	-37	-43	-47	-55	-42	-16	-63	-52	-65	-89
	-2	-14	-16	-10	-29	-3	12	29	16	-6
Net Cash Flow	9	-6	-0	2	1	-4	-2	11	-10	4
Free Cash Flow	11	13	20	46	11	-18	9	-55	-19	-11
CFO/OP	125%	103%	96%	99%	152%	49%	98%	85%	88%	145%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	62	56	70	77	64	105	87	75	82	64
Inventory Days	53	39	60	58	54	110	73	79	79	71
Days Payable	75	71	69	74	54	53	44	40	47	59
Cash Conversion Cycle	40	25	61	61	64	162	115	114	113	76
Working Capital Days	23	10	25	28	29	103	71	66	52	21
ROCE %		15%	16%	18%	9%		8%	10%	6%	6%

Insights

In beta

Mar 2014

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Installed Capacity - Renewable Energy (Wind)
MW ・Standalone data

	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx
xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
	xx.xx	xx.xx	xx.xx	x.xx	xx.xx	xx.xx		xx.xx	xx.xx	xx.xx	x.xx
	x	x	x	x	x	x			x	x	x
	xxx,xxx	xxx,xxx

Please log in to see hidden values.

Mechanical Steering Sales Volume
Units ・Standalone data

Power Steering Sales Volume
Units ・Standalone data

Renewable Energy Generation - Total
Million Units ・Standalone data

Installed Capacity - Renewable Energy (Solar)
MW ・Standalone data

Installed Capacity - Power Steering
Units per annum ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

1 Recently

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	67.18%	67.18%	67.18%	67.17%	67.17%	67.17%	67.01%	67.00%	66.93%	66.93%	62.79%	62.75%
	0.01%	0.01%	0.02%	0.02%	0.01%	0.03%	0.04%	0.03%	0.01%	0.01%	0.01%	0.01%
	32.83%	32.82%	32.80%	32.83%	32.82%	32.80%	32.96%	32.98%	33.06%	33.04%	37.20%	37.22%
No. of Shareholders	9,566	9,554	9,511	9,816	9,766	9,921	9,860	9,811	9,667	9,629	9,654	9,663

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	73.66%	73.66%	67.40%	67.45%	67.45%	67.43%	67.31%	67.17%	67.00%	62.75%
	0.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	1.27%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.03%	0.01%
	24.89%	26.33%	32.59%	32.54%	32.54%	32.56%	32.68%	32.83%	32.98%	37.22%
No. of Shareholders	10,588	11,691	11,651	11,092	10,343	9,689	9,789	9,816	9,811	9,663

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Z F Steering Gear (India) Ltd

Z F Steering Gear (India) Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

Annual reports

Credit ratings

Concalls