ZFSTEERING

ZF Steering Gear (India) Limited

ZF Steering Gear (India) Limited (ZFSTEERING) financial statements and selected valuation metrics through 30 June 2026.

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

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Key metrics

Price as of 2026-10-16

Stock price
₹686.00
Market cap
623 Cr
Stock P/E
31.5
P/B
1.30
Dividend yield
0.0%
ROE (FY26)
3.2%
ROCE (FY26)
6.3%
Operating margin (FY26)
4.8%
Debt / equity (FY26)
0.21
OCF / EBITDA (FY26)
131.0%
OCF / EBITDA (3Y)
95.5%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Maharashtra-based maker of steering gear systems for buses, trucks and tractors, sold mainly to vehicle makers and also as replacement parts.

Company snapshot

80thBy market cap

Ranked among 94 companies in Auto Components & Equipments.

What we see

Positives
  • ✓96% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Net margin is very thin at 2.1% — little room for error if costs rise.
1 more signal from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales119 Cr114 Cr124 Cr128 Cr111 Cr118 Cr137 Cr133 Cr121 Cr143 Cr174 Cr143 Cr
Operating expenses (approx.)106 Cr103 Cr114 Cr112 Cr100 Cr107 Cr122 Cr115 Cr108 Cr120 Cr153 Cr130 Cr
EBITDA13 Cr10 Cr11 Cr16 Cr11 Cr11 Cr15 Cr18 Cr12 Cr24 Cr21 Cr13 Cr
OPM %11.2%8.8%8.5%12.7%10.2%8.9%10.9%13.6%10.3%16.4%12.0%9.3%
Other income6 Cr13 Cr9 Cr8 Cr5 Cr1 Cr6 Cr5 Cr0.95 Cr2 Cr1 Cr15 Cr
Interest0.17 Cr0.14 Cr0.54 Cr1 Cr1 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr2 Cr
Depreciation8 Cr8 Cr9 Cr9 Cr10 Cr11 Cr13 Cr11 Cr11 Cr12 Cr13 Cr10 Cr
Profit before tax11 Cr14 Cr10 Cr14 Cr6 Cr-1 Cr6 Cr11 Cr0.10 Cr11 Cr7 Cr16 Cr
Tax %-14.8%19.0%15.8%28.3%71.0%-33.1%57.3%33.6%1600.0%35.1%113.3%27.2%
Net profit13 Cr11 Cr8 Cr10 Cr2 Cr-2 Cr2 Cr7 Cr-1 Cr7 Cr-0.89 Cr11 Cr
EPS (₹)₹13.80₹12.40₹9.08₹11.23₹1.90₹-1.91₹2.66₹7.88₹-0.43₹8.64₹-0.04₹13.63

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales399 Cr425 Cr439 Cr450 Cr478 Cr494 Cr571 CrSign in free for the trailing twelve months
Operating expenses (approx.)317 Cr338 Cr362 Cr395 Cr426 Cr441 Cr496 CrSign in free for the trailing twelve months
EBITDA82 Cr87 Cr77 Cr56 Cr52 Cr53 Cr75 CrSign in free for the trailing twelve months
OPM %20.5%20.4%17.6%12.4%10.9%10.8%13.1%Sign in free for the trailing twelve months
Other income12 Cr11 Cr9 Cr13 Cr34 Cr21 Cr10 CrSign in free for the trailing twelve months
Interest2 Cr3 Cr2 Cr0.72 Cr1 Cr7 Cr8 CrSign in free for the trailing twelve months
Depreciation28 Cr33 Cr31 Cr32 Cr34 Cr43 Cr47 CrSign in free for the trailing twelve months
Profit before tax45 Cr58 Cr31 Cr36 Cr52 Cr25 Cr29 CrSign in free for the trailing twelve months
Tax %30.1%24.9%-39.5%32.4%15.8%48.6%58.1%Sign in free for the trailing twelve months
Net profit31 Cr43 Cr44 Cr25 Cr44 Cr13 Cr12 CrSign in free for the trailing twelve months
EPS (₹)₹34.51₹47.65₹48.35₹27.05₹48.14₹13.88₹16.96Sign in free for the trailing twelve months
Dividend payout %———0.0%10.9%57.4%0.7%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital9 Cr9 Cr9 Cr9 Cr9 Cr9 Cr9 Cr
Reserves255 Cr291 Cr326 Cr410 Cr449 Cr457 Cr472 Cr
Borrowings57 Cr57 Cr34 Cr38 Cr73 Cr97 Cr101 Cr
Other liabilities69 Cr75 Cr85 Cr55 Cr63 Cr71 Cr91 Cr
Total liabilities391 Cr432 Cr454 Cr512 Cr594 Cr636 Cr673 Cr
Fixed assets (net)118 Cr102 Cr109 Cr131 Cr171 Cr213 Cr196 Cr
CWIP0.32 Cr0.70 Cr26 Cr7 Cr29 Cr15 Cr68 Cr
Investments115 Cr153 Cr119 Cr148 Cr135 Cr156 Cr136 Cr
Loans & advances——0.07 Cr0.05 Cr0.06 Cr0.08 Cr0.08 Cr
Inventories39 Cr40 Cr40 Cr58 Cr67 Cr67 Cr67 Cr
Trade receivables76 Cr92 Cr77 Cr107 Cr98 Cr111 Cr101 Cr
Cash & bank2 Cr4 Cr6 Cr0.22 Cr11 Cr0.95 Cr5 Cr
Other assets39 Cr40 Cr77 Cr60 Cr83 Cr73 Cr99 Cr
Total assets391 Cr432 Cr454 Cr512 Cr594 Cr636 Cr673 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity63 Cr68 Cr72 Cr49 Cr35 Cr39 Cr98 Cr
Cash from investing-47 Cr-55 Cr-42 Cr-63 Cr-52 Cr-65 Cr-89 Cr
Cash from financing-16 Cr-10 Cr-29 Cr12 Cr29 Cr16 Cr-5 Cr
Net cash flow-0.06 Cr2 Cr1 Cr-2 Cr11 Cr-10 Cr4 Cr
Free cash flow (OCF − Capex)20 Cr46 Cr11 Cr9 Cr-59 Cr-20 Cr-12 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %14.7%17.0%9.0%8.1%10.0%5.5%6.3%
ROE %11.8%14.4%13.1%5.9%9.5%3.2%3.2%
Debtor days70796486758264
Inventory days59575372767871
Days payable67745344384759
Cash conversion cycle61636411411311376
OCF / EBITDA %76.4%78.1%93.5%87.4%66.7%73.9%131.0%
OCF / EBITDA % (3 years)——82.3%——76.2%95.5%
Debt / equity0.210.190.100.090.160.210.21
Current ratio1.271.341.422.052.041.611.27
Net debt / EBITDA0.670.610.370.681.171.811.28