About
ZF Steering Gear (India) Limited engages in the production and assembly of steering systems for vehicles, buses, and tractors in India and internationally. It operates in two segments, Auto Component and Renewable Energy. The company offers ball and nut integral hydraulic power steering gears for heavy commercial vehicles, integral hydraulic power steering gears for medium and light commercial vehicles, power steering gears for SUVs and off-road vehicles, cast iron and aluminum vane pumps, oil reservoirs, steering and pump mounting brackets, integrated oil tanks, steering columns, drop arms, intermediate shafts, universal joints, and bevel gear boxes. It also provides worm and roller mechanical steering systems for tractors and light commercial vehicles, as well as related accessories; power rack and pinion steering systems for passenger cars; mechanical rack and pinion steering systems for one-ton passenger and goods carriers; double barrel steering gears; and tractor hydraulic power-assisted steering gears. The company offers its products and services through dealers. In addition, it generates electricity through solar and windmill sources. The company was incorporated in 1981 and is based in Pune, India.
Key Metrics
as of Sep 2026Market Cap608 Cr
P/E30.10
Div Yield0.00 %
Book Value₹530.00
52w High₹1,123.00
52w Low₹570.00
Face Value₹10.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 143.00 | 174.00 | 143.00 | 121.00 | 133.00 | 137.00 | 118.00 | 111.00 | 128.00 | 124.00 | 114.00 | 119.00 | 121.00 |
| Expenses | 130.00 | 153.00 | 120.00 | 108.00 | 115.00 | 122.00 | 107.00 | 100.00 | 112.00 | 114.00 | 103.00 | 106.00 | 102.00 |
| Operating Profit | 13.00 | 21.00 | 24.00 | 12.00 | 18.00 | 15.00 | 11.00 | 11.00 | 16.00 | 11.00 | 10.00 | 13.00 | 18.00 |
| OPM % | 9.00 | 12.00 | 16.00 | 10.00 | 14.00 | 11.00 | 9.00 | 10.00 | 13.00 | 9.00 | 9.00 | 11.00 | 15.00 |
| Other Income | 15.00 | 1.00 | 2.00 | 1.00 | 5.00 | 6.00 | 1.00 | 5.00 | 8.00 | 9.00 | 13.00 | 6.00 | 7.00 |
| Depreciation | 10.00 | 13.00 | 12.00 | 11.00 | 11.00 | 13.00 | 11.00 | 10.00 | 9.00 | 9.00 | 8.00 | 8.00 | 8.00 |
| Interest | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 2.00 | 1.00 | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 16.00 | 7.00 | 11.00 | 0.00 | 11.00 | 6.00 | -1.00 | 6.00 | 14.00 | 10.00 | 14.00 | 11.00 | 17.00 |
| Tax % | 27.00 | 113.00 | 35.00 | 1,600.00 | 34.00 | 57.00 | 33.00 | 71.00 | 28.00 | 16.00 | 19.00 | -15.00 | 32.00 |
| Net Profit | 11.00 | -1.00 | 7.00 | -2.00 | 7.00 | 2.00 | -2.00 | 2.00 | 10.00 | 8.00 | 11.00 | 13.00 | 12.00 |
| EPS in Rs | 13.63 | -0.03 | 8.64 | -0.43 | 8.78 | 4.27 | -0.95 | 1.90 | 11.23 | 9.08 | 12.40 | 13.80 | 12.87 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 571.00 | 494.00 | 478.00 | 450.00 | 313.00 | 439.00 | 436.00 | 399.00 | 423.00 | 351.00 |
| Expenses | 496.00 | 441.00 | 425.00 | 394.00 | 272.00 | 384.00 | 351.00 | 317.00 | 359.00 | 304.00 |
| Operating Profit | 75.00 | 53.00 | 52.00 | 57.00 | 41.00 | 56.00 | 84.00 | 82.00 | 64.00 | 46.00 |
| OPM % | 13.00 | 11.00 | 11.00 | 13.00 | 13.00 | 13.00 | 19.00 | 21.00 | 15.00 | 13.00 |
| Other Income | 9.00 | 21.00 | 34.00 | 13.00 | 21.00 | 9.00 | 10.00 | -7.00 | 6.00 | 10.00 |
| Interest | 8.00 | 7.00 | 1.00 | 1.00 | 0.00 | 2.00 | 3.00 | 2.00 | 2.00 | 1.00 |
| Depreciation | 47.00 | 43.00 | 34.00 | 32.00 | 31.00 | 31.00 | 33.00 | 28.00 | 31.00 | 27.00 |
| Profit before tax | 29.00 | 24.00 | 52.00 | 36.00 | 30.00 | 31.00 | 58.00 | 45.00 | 38.00 | 28.00 |
| Tax % | 58.00 | 49.00 | 16.00 | 32.00 | 39.00 | -39.00 | 25.00 | 30.00 | 33.00 | 26.00 |
| Net Profit | 12.00 | 13.00 | 44.00 | 25.00 | 18.00 | 44.00 | 43.00 | 31.00 | 25.00 | 21.00 |
| EPS in Rs | 16.96 | 16.44 | 48.15 | 27.05 | 20.14 | 48.35 | 47.65 | 34.52 | 27.96 | 22.78 |
| Dividend Payout % | 0.00 | 0.00 | 17.00 | 18.00 | 0.00 | 0.00 | 17.00 | 23.00 | 45.00 | 44.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 9.00 | 9.00 | 9.00 | 9.00 | 9.00 | 9.00 | 9.00 | 9.00 | 9.00 | 9.00 |
| Reserves | 472.00 | 457.00 | 449.00 | 410.00 | 386.00 | 326.00 | 291.00 | 255.00 | 215.00 | 203.00 |
| Borrowings | 106.00 | 100.00 | 77.00 | 43.00 | 34.00 | 46.00 | 64.00 | 62.00 | 35.00 | 23.00 |
| Other Liabilities | 85.00 | 70.00 | 59.00 | 50.00 | 43.00 | 73.00 | 68.00 | 64.00 | 79.00 | 83.00 |
| Total Liabilities | 673.00 | 636.00 | 594.00 | 512.00 | 472.00 | 454.00 | 432.00 | 391.00 | 337.00 | 317.00 |
| Fixed Assets | 230.00 | 245.00 | 205.00 | 158.00 | 159.00 | 111.00 | 106.00 | 121.00 | 131.00 | 125.00 |
| CWIP | 68.00 | 15.00 | 30.00 | 7.00 | 2.00 | 26.00 | 1.00 | 0.00 | 7.00 | 4.00 |
| Investments | 135.00 | 156.00 | 134.00 | 147.00 | 119.00 | 119.00 | 153.00 | 115.00 | 59.00 | 50.00 |
| Other Assets | 239.00 | 220.00 | 226.00 | 199.00 | 192.00 | 198.00 | 173.00 | 154.00 | 140.00 | 138.00 |
| Total Assets | 673.00 | 636.00 | 594.00 | 512.00 | 472.00 | 454.00 | 432.00 | 391.00 | 337.00 | 317.00 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 98.00 | 40.00 | 35.00 | 49.00 | 15.00 | 72.00 | 68.00 | 63.00 | 51.00 | 48.00 |
| Cash from Investing Activity | -89.00 | -64.00 | -52.00 | -63.00 | -16.00 | -42.00 | -55.00 | -47.00 | -43.00 | -37.00 |
| Cash from Financing Activity | -5.00 | 14.00 | 29.00 | 12.00 | -3.00 | -29.00 | -10.00 | -16.00 | -14.00 | -2.00 |
| Net Cash Flow | 4.00 | -10.00 | 11.00 | -2.00 | -4.00 | 1.00 | 2.00 | 0.00 | -6.00 | 9.00 |
| Free Cash Flow | -11.00 | -19.00 | -55.00 | 9.00 | -18.00 | 11.00 | 46.00 | 20.00 | 13.00 | 11.00 |
| CFO/OP % | 145.00 | 89.00 | 85.00 | 98.00 | 49.00 | 152.00 | 99.00 | 96.00 | 103.00 | 125.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 64.00 | 82.00 | 75.00 | 87.00 | 105.00 | 64.00 | 77.00 | 70.00 | 56.00 | 62.00 |
| Inventory Days | 73.00 | 80.00 | 79.00 | 73.00 | 110.00 | 54.00 | 58.00 | 60.00 | 39.00 | 53.00 |
| Days Payable | 61.00 | 48.00 | 40.00 | 44.00 | 53.00 | 54.00 | 74.00 | 69.00 | 71.00 | 75.00 |
| Cash Conversion Cycle | 77.00 | 114.00 | 114.00 | 115.00 | 162.00 | 64.00 | 61.00 | 61.00 | 25.00 | 40.00 |
| Working Capital Days | 21.00 | 51.00 | 66.00 | 71.00 | 103.00 | 29.00 | 28.00 | 25.00 | 10.00 | 23.00 |
| ROCE % | 6.00 | 6.00 | 10.00 | 8.00 | — | 9.00 | 18.00 | 16.00 | 15.00 | — |
Corporate Actions
19 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Dividend | 03 Sep 2024 | — | — | 8.00 | |
| Dividend | 08 Sep 2023 | — | — | 5.00 | |
| Dividend | 16 Aug 2018 | — | — | 8.00 | |
| Dividend | 26 Jul 2017 | — | — | 8.00 | |
| Dividend | 17 Mar 2016 | 18 Mar 2016 | — | 12.50 | |
| Dividend | 15 Sep 2015 | — | — | 10.00 | |
| Dividend | 21 Jul 2014 | — | — | 7.00 | |
| Dividend | 19 Jul 2013 | — | — | 8.00 | |
| Dividend | 19 Jul 2012 | — | — | 5.00 | |
| Dividend | 17 Nov 2011 | 18 Nov 2011 | — | 5.00 | |
| Dividend | 18 Jul 2011 | — | — | 5.00 | |
| Dividend | 02 Nov 2010 | 03 Nov 2010 | — | 5.00 | |
| Dividend | 05 Jul 2010 | — | — | 5.00 | |
| Dividend | 13 Nov 2009 | 16 Nov 2009 | — | 3.50 | |
| Dividend | 20 Jul 2009 | — | — | 7.00 | |
| Dividend | 22 Jul 2008 | — | — | 8.00 | |
| Dividend | 13 Jul 2001 | — | — | 3.50 | |
| Dividend | 12 Apr 2000 | — | — | 2.50 | |
| Dividend | 21 Jul 1999 | — | — | 1.50 |
Announcements
5 filingsShareholding Pattern
Open on BSEFinancial Results — Filings
Open on BSEBoard Filings
Open on BSEAnnual Reports
Credit Ratings
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Rating update4 Aug from icra
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Rating update26 Jun 2025 from icra
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Rating update20 May 2024 from icra
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Rating update21 Mar 2023 from icra
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Rating update29 Nov 2022 from icra
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Rating update28 Mar 2022 from icra