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ZF Commercial Vehicle Control Systems India (ZFCVINDIA)₹2,321+1.00%Auto Components & Equipments
In the Jun 2026 quarter (consolidated), ZF Commercial Vehicle Control Systems India reported sales of ₹1,069 Cr, up 9.1% from Jun 2025, and net profit of ₹104 Cr, down 14.8% year on year. For the year to Mar 2026, sales were ₹4,131 Cr and net profit ₹515 Cr.
Company filings, consolidated accounts; latest reported quarter Jun 2026
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 996 | 903 | 963 | 948 | 914 | 965 | 1,015 | 980 | 917 | 1,078 | 1,158 | 1,069 |
| Expenses | 849 | 768 | 815 | 810 | 773 | 788 | 841 | 847 | 781 | 880 | 969 | 931 |
| Operating Profit | 145 | 134 | 146 | 139 | 140 | 177 | 175 | 132 | 134 | 199 | 190 | 138 |
| OPM % | 14.9% | 14.9% | 15.0% | 15.0% | 14.9% | 18.0% | 17.0% | 13.0% | 15.0% | 18.9% | 15.9% | 12.9% |
| Other Income | 24.01 | 28.99 | 20.01 | 25.02 | 38.98 | 16.99 | 27.01 | 66.97 | 45.01 | 21.99 | 41.99 | 35.99 |
| Interest | 1.01 | 1.01 | 1.01 | 2.01 | 1.01 | 1.01 | 1.01 | 1.01 | 1.01 | 2.01 | 1.01 | 1.01 |
| Depreciation | 27.10 | 26.12 | 29.11 | 29.13 | 31.11 | 32.14 | 32.12 | 33.13 | 32.15 | 33.13 | 34.12 | 32.14 |
| Profit before tax | 141 | 135 | 136 | 134 | 146 | 161 | 169 | 164 | 146 | 187 | 197 | 140 |
| Tax % | 25.0% | 26.0% | 26.0% | 26.0% | 25.0% | 22.0% | 25.0% | 25.0% | 26.0% | 25.0% | 26.0% | 25.0% |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | −6.01 | 0.00 | 0.00 |
| Net Profit | 106 | 101 | 99.80 | 98.83 | 109 | 125 | 127 | 122 | 108 | 140 | 146 | 104 |
| EPS (Rs) | 9.31 | 8.89 | 8.82 | 8.76 | 9.61 | 11.04 | 11.16 | 10.78 | 9.53 | 12.35 | 12.88 | 9.20 |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|
| Sales | 2,552 | 3,456 | 3,830 | 3,841 | 4,131 | 4,222 |
| Expenses | 2,299 | 2,982 | 3,258 | 3,213 | 3,476 | 3,561 |
| Operating Profit | 253 | 471 | 569 | 633 | 658 | 662 |
| OPM % | 9.9% | 13.9% | 15.0% | 16.0% | 15.9% | 15.7% |
| Other Income | 37.99 | 66.99 | 95.05 | 108 | 173 | 145 |
| Interest | 2.01 | 6.01 | 5.01 | 6.01 | 5.01 | 5.04 |
| Depreciation | 92.37 | 105 | 110 | 124 | 132 | 132 |
| Profit before tax | 196 | 426 | 545 | 607 | 691 | 669 |
| Tax % | 27.0% | 26.0% | 26.0% | 24.0% | 25.0% | — |
| Exceptional items | 13.03 | 4.01 | 5.01 | 8.02 | 13.02 | −6.01 |
| Net Profit | 142 | 317 | 405 | 460 | 515 | 496 |
| EPS (Rs) | 12.51 | 27.99 | 35.81 | 40.57 | 45.51 | 43.96 |
| Dividend payout % | 16.0% | 8.0% | 8.0% | 8.0% | 1.0% | — |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 9.02 | 9.01 | 9.02 | 9.03 | 9.02 |
| Reserves | 2,107 | 2,401 | 2,785 | 3,211 | 3,684 |
| Borrowings | 0.00 | 0.00 | 0.00 | 66.13 | 55.05 |
| Other Liabilities | 526 | 616 | 594 | 507 | 683 |
| Total Liabilities | 2,641 | 3,026 | 3,388 | 3,794 | 4,433 |
| Fixed Assets | 536 | 587 | 672 | 736 | 732 |
| CWIP | 19.97 | 76.85 | 83.78 | 67.90 | 60.90 |
| Investments | 397 | 99.90 | 24.98 | 29.96 | 604 |
| Other Assets | 1,687 | 2,262 | 2,607 | 2,959 | 3,036 |
| Inventories | 145 | 157 | 175 | 191 | 282 |
| Trade receivables | 668 | 760 | 940 | 1,123 | 945 |
| Cash & equivalents | 670 | 1,168 | 1,295 | 1,467 | 1,627 |
| Total Assets | 2,641 | 3,026 | 3,388 | 3,794 | 4,433 |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Cash from operating activity | 138 | 299 | 193 | 287 | 813 |
| Cash from investing activity | −177 | −271 | −131 | −227 | −697 |
| Cash from financing activity | −27.94 | −30.93 | −33.93 | −43.89 | −51.89 |
| Net cash flow | −68.04 | −3.01 | 28.05 | 15.01 | 62.09 |
| Capex | 177 | 128 | 199 | 167 | 146 |
| Free cash flow | −37.88 | 170 | −4.98 | 120 | 664 |
| CFO / OP % | 82.1% | 87.1% | 66.1% | 67.1% | 144.0% |
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor days | 97 | 81 | 91 | 108 | 84 |
| Inventory days | 32 | 26 | 27 | 31 | 43 |
| Days payable | 78 | 59 | 59 | 57 | 70 |
| Cash conversion cycle | 49 | 47 | 57 | 80 | 56 |
| Working capital days | 57 | 47 | 63 | 83 | 55 |
| ROCE % | — | 18.9% | 20.9% | 20.0% | 19.0% |
For the Jun 2026 quarter, ZF Commercial Vehicle Control Systems India reported sales of ₹1,069 Cr, up 9.1% year on year and net profit of ₹104 Cr, down 14.8% year on year. The operating margin was 12.9%.
ZF Commercial Vehicle Control Systems India's sales for the year to Mar 2026 were ₹4,131 Cr; over the last twelve months they were ₹4,222 Cr.
Net profit for the year to Mar 2026 was ₹515 Cr, and ₹496 Cr over the last twelve months. Earnings per share over the same trailing period were ₹43.96.
ZF Commercial Vehicle Control Systems India reported borrowings of ₹55.05 Cr at Mar 2026, against cash and equivalents of ₹1,627 Cr.
Cash from operations was ₹813 Cr in the year to Mar 2026; after capital spending, free cash flow was ₹664 Cr.