| Quarterly Financials | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
Revenue  | 504 | 624 | 662 | 791 | 810 | 805 | 902 | 995 | 988 | 1,016 | 928 | 979 | 971 | 950 | 979 | 1,039 | 1,042 | 958 |
| Expenses | 450 | 554 | 594 | 693 | 700 | 685 | 756 | 833 | 826 | 846 | 765 | 813 | 807 | 771 | 785 | 837 | 844 | 779 |
| EBITDA | 54 | 70 | 68 | 98 | 110 | 120 | 146 | 162 | 163 | 170 | 163 | 166 | 164 | 179 | 194 | 202 | 198 | 179 |
| Operating Profit % | 9 % | 10 % | 9 % | 11 % | 12 % | 14 % | 14 % | 15 % | 15 % | 15 % | 15 % | 15 % | 15 % | 15 % | 18 % | 17 % | 13 % | 15 % |
| Depreciation | 23 | 25 | 24 | 21 | 23 | 27 | 28 | 27 | 28 | 27 | 26 | 29 | 29 | 31 | 32 | 32 | 33 | 32 |
| Interest | 1 | 0 | 0 | 1 | 1 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 1 |
| Profit Before Tax | 31 | 45 | 43 | 77 | 86 | 90 | 116 | 135 | 134 | 141 | 135 | 136 | 134 | 146 | 161 | 169 | 164 | 146 |
| Tax | 10 | 13 | 11 | 20 | 24 | 22 | 30 | 34 | 34 | 36 | 35 | 36 | 34 | 37 | 35 | 42 | 42 | 38 |
| Net Profit | 21 | 32 | 32 | 57 | 62 | 69 | 85 | 101 | 100 | 106 | 101 | 100 | 99 | 109 | 126 | 127 | 122 | 108 |
| EPS in ₹ | 11.27 | 17.00 | 16.78 | 29.84 | 32.90 | 36.19 | 45.04 | 53.36 | 52.58 | 55.72 | 53.16 | 52.83 | 52.42 | 57.53 | 66.15 | 66.81 | 64.52 | 57.08 |
ZF Commercial
ZF Commercial
12,852.00
+192.00
(1.52%)
Key Fundamentals
Market Cap
24,013.00 Cr
EPS
242.90
PE Ratio
50.37
Dividend Yield
0.15 %
Industry
Automobiles 52 Week High
15,290.00
52 Week Low
9,561.00
PB Ratio
7.13
Debt to Equity
0.00
Sector
Auto Components Analyst Rating and Forecast
- By Refinitiv from4 analysts
Actual
Company News
View All News
ZF Commercial Vehicle Control Systems India Limited has reconstituted five board committees effective November 5, 2025. The changes include leadership transitions across the Audit Committee, Nomination Remuneration Committee, Stakeholders Relationship Committee, Corporate Social Responsibility Committee, and Risk Management Committee. Key changes include Mr. Neeraj Sagar becoming Chairman of the Nomination Remuneration Committee, Ms. Amrita Verma Chowdhury taking over as Chairperson of the Stakeholders Relationship Committee, and Ms. Rashmi Urdhwareshe becoming Chairperson of the Risk Management Committee. Dr. Orlik Lars has been added to the Audit Committee replacing Mr. Christian Brenneke. The board meeting was held on November 4, 2025.
ZF Commercial Vehicle Control Systems India Limited announced changes to its board of directors. Dr. Christian Brenneke resigned as Non-Executive Non-Independent Director effective from the close of business hours on November 4, 2025, citing personal and professional commitments as Head of U-Division (Electronic and ADAS) at ZF Group. The Board appointed Mr. Ivan Brajdic as an Additional Director (Non-Executive Non-Independent) effective from November 5, 2025, based on the recommendation of the Nomination and Remuneration Committee. Mr. Brajdic brings over 25 years of experience in high-tech automotive products and has been Managing Director of ZF CVS Systems Global GmbH since October 2024. The company confirmed that Mr. Brajdic is not debarred from holding directorship by any regulatory authority.
ZF Commercial Vehicle Control Systems India reported quarterly results showing a decline across key financial metrics. Net profit decreased to 1.06 billion rupees from 1.09 billion rupees year-over-year. Revenue fell to 9.02 billion rupees compared to 9.06 billion rupees in the same period last year. EBITDA dropped to 1.32 billion rupees from 1.39 billion rupees year-over-year. The company's EBITDA margin compressed to 14.65% from 15.38% in the previous year.
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Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
104.49 | #1 1,11,423.30 | #1 30.19 | #1 1,14,220.30 | 15.51 | #1 4,146 | -44.76 | 46.99 | |
37,850.00 | 1,09,200.20 | 41.90 | 18,901.30 | 8.32 | 2,013 | #1 139.35 | 44.06 | |
1,252.00 | 72,829.70 | 64.53 | 16,803.90 | #1 19.48 | 1,021 | 46.58 | 52.22 | |
4,137.80 | 66,877.70 | 60.76 | 6,961.65 | 13.22 | 828 | 22.38 | 56.34 | |
1,324.90 | 64,097.30 | 61.91 | 15,336.60 | -3.60 | 913 | 62.60 | 64.57 | |
2,992.50 | 58,949.10 | 55.61 | 19,835.70 | 15.71 | 1,054 | -4.29 | 37.26 | |
2,902.00 | 40,321.00 | 47.52 | 11,677.80 | 13.09 | 836 | 11.03 | 52.60 | |
379.70 | 32,580.50 | 37.77 | 17,350.60 | 2.91 | 801 | 24.37 | 36.43 | |
46.99 | 31,599.90 | 52.19 | 9,332.20 | 11.96 | 606 | -3.90 | 53.05 | |
483.80 | 29,920.30 | 49.55 | 3,681.50 | 14.73 | 600 | 18.73 | 66.58 |
Automatic Screeners on ScanX
Growth Rate
Revenue Growth
0.73 %
Net Income Growth
13.36 %
Cash Flow Change
48.34 %
ROE
-1.65 %
ROCE
-2.81 %
EBITDA Margin (Avg.)
11.00 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2022 | 2023 | 2024 | 2025 |
| Total Assets | 2,637 | 3,022 | 3,382 | 3,785 |
| Fixed Assets | 536 | 587 | 673 | 737 |
| Current Assets | 1,956 | 2,239 | 2,475 | 2,842 |
| Capital Work in Progress | 20 | 77 | 84 | 69 |
| Investments | 398 | 100 | 25 | 30 |
| Other Assets | 1,683 | 2,258 | 2,600 | 2,950 |
| Total Liabilities | 2,637 | 3,022 | 3,382 | 3,785 |
| Current Liabilities | 499 | 536 | 510 | 490 |
| Non Current Liabilities | 24 | 78 | 81 | 81 |
| Total Equity | 2,114 | 2,409 | 2,790 | 3,215 |
| Reserve & Surplus | 2,105 | 2,400 | 2,781 | 3,205 |
| Share Capital | 10 | 10 | 10 | 10 |
Cash Flow
| Cash Flow | 2022 | 2023 | 2024 | 2025 |
| Net Cash Flow | -68 | -3 | 28 | 15 |
| Investing Activities | -177 | -270 | -131 | -227 |
| Operating Activities | 138 | 299 | 193 | 286 |
| Financing Activities | -29 | -31 | -34 | -44 |
Share Holding
| % Holding | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
| Promoter | 80.43 % | 77.01 % | 75.00 % | 75.00 % | 75.00 % | 75.00 % | 75.00 % | 75.00 % | 75.00 % | 75.00 % | 75.00 % | 75.00 % | 75.00 % | 67.49 % | 67.49 % | 63.16 % | 63.16 % | 60.00 % | 60.00 % |
| FIIs | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 1.79 % | 0.00 % | 2.24 % | 3.74 % | 4.13 % | 5.10 % | 5.57 % | 5.73 % | 5.79 % |
| DIIs | 11.22 % | 14.05 % | 15.82 % | 15.75 % | 15.85 % | 15.91 % | 15.74 % | 16.12 % | 16.04 % | 16.13 % | 15.90 % | 15.76 % | 15.77 % | 21.19 % | 21.03 % | 23.85 % | 23.33 % | 26.36 % | 26.25 % |
| Government | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % | 0.00 % |
| Public / Retail | 5.82 % | 6.23 % | 6.31 % | 6.49 % | 6.33 % | 6.38 % | 6.51 % | 6.23 % | 6.23 % | 6.19 % | 5.95 % | 5.86 % | 5.63 % | 5.99 % | 5.68 % | 5.97 % | 6.06 % | 5.95 % | 6.00 % |
| Others | 2.53 % | 2.72 % | 2.86 % | 2.77 % | 2.83 % | 2.70 % | 2.74 % | 2.66 % | 2.72 % | 2.67 % | 1.36 % | 3.38 % | 1.35 % | 1.59 % | 1.67 % | 1.92 % | 1.88 % | 1.96 % | 1.95 % |
| No of Share Holders | 0 | 22,843 | 23,577 | 22,700 | 22,499 | 22,114 | 22,392 | 27,560 | 25,387 | 24,395 | 24,375 | 25,289 | 24,094 | 29,457 | 28,862 | 34,269 | 33,904 | 33,640 | 32,238 |
Dividend History
| Annual Cash Flows | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 0.00 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 17 | 19 |
| Dividend Yield (%) | 0.00 | 0.09 | 0.12 | 0.15 | 0.15 | 0.14 | 0.12 | 0.09 | 0.13 | 0.15 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 04 Nov 2025 |  Quarterly Result Announcement | NA | 04 Nov 2025 | 13,076.55 | 12,648.80 |
| 17 Sept 2021 |  Dividend | ₹ 11.00 /share | 16 Sept 2021 | 6,732.50 | 7,322.70 |
| 08 Jul 2022 | Dividend | ₹ 12.00 /share | 07 Jul 2022 | 7,700.45 | 7,919.35 |
| 07 Jul 2023 | Dividend | ₹ 13.00 /share | 07 Jul 2023 | 10,496.00 | 12,144.35 |
| 15 Jul 2024 | Dividend | ₹ 17.00 /share | 15 Jul 2024 | 13,264.00 | 15,888.70 |
| 22 Jul 2024 |  Annual General Meeting | NA | 22 Jul 2024 | 13,264.00 | 15,171.50 |
| 08 Nov 2024 | Quarterly Result Announcement | NA | 08 Nov 2024 | 13,954.10 | 14,966.50 |
| 06 Feb 2025 | Quarterly Result Announcement | NA | 06 Feb 2025 | 10,696.35 | 10,788.25 |
| 15 May 2025 | Quarterly Result Announcement | NA | 15 May 2025 | 12,528.95 | 13,243.00 |
| 08 Aug 2025 | Dividend | ₹ 19.00 /share | 08 Aug 2025 | 13,243.00 | 13,372.15 |
| 12 Aug 2025 | Quarterly Result Announcement | NA | 12 Aug 2025 | 13,275.00 | 13,792.35 |
| 20 Aug 2025 | Annual General Meeting | NA | 20 Aug 2025 | 13,243.00 | 14,449.00 |
Announcements
Reconstitution Of Committees Of The Board.
13 hours ago
13 hours agoAnnouncement under Regulation 30 (LODR)-Change in Directorate14 hours ago
14 hours agoFinancial Results For Q214 hours ago
14 hours agoBoard Meeting Outcome for Outcome Of Board Meeting15 hours ago
15 hours agoAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation4 days ago
4 days agoAnnouncement under Regulation 30 (LODR)-Change in Management4 days ago
4 days agoBoard Meeting Intimation for Board Meeting To Consider Unaudited Financial Results (Standalone & Consolidated) For The Quarter And Half-Year Ended 30Th September 2025
Oct 22, 2025
Oct 22, 2025Re-Lodgment Of Transfer Requests Of Physical SharesOct 09, 2025
Oct 09, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 06, 2025
Oct 06, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeSep 26, 2025
Sep 26, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationSep 23, 2025
Sep 23, 2025Closure of Trading WindowSep 22, 2025
Sep 22, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeSep 03, 2025
Sep 03, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 29, 2025
Aug 29, 2025Re-Lodgment Of Transfer Requests Of Physical SharesAug 25, 2025
Aug 25, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeAug 25, 2025
Aug 25, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportAug 22, 2025
Aug 22, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationAug 20, 2025
Aug 20, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMAug 20, 2025
Aug 20, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeAug 20, 2025
Aug 20, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeAug 14, 2025
Aug 14, 2025Financial Results For The Q1 FY 2025-26Aug 12, 2025
Aug 12, 2025Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderAug 01, 2025
Aug 01, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJul 31, 2025
Jul 31, 2025Announcement under Regulation 30 (LODR)-Change in ManagementJul 31, 2025
Jul 31, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 30, 2025
Jul 30, 2025Business Responsibility and Sustainability Reporting (BRSR)Jul 29, 2025
Jul 29, 2025Notice Convening The 21St Annual General Meeting
Jul 29, 2025
Jul 29, 2025Reg. 34 (1) Annual Report.Jul 29, 2025
Jul 29, 2025Board Meeting Intimation for Intimation Of Board MeetingJul 18, 2025
Jul 18, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jul 07, 2025
Jul 07, 2025Authorization Under Regulation 30(5) Of SEBI (LODR) Regulations 2015 - Determining Materiality Of An Event / Information And Making Disclosures To Stock Exchange(S)Jul 01, 2025
Jul 01, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJul 01, 2025
Jul 01, 2025Joining Of Managing DirectorJul 01, 2025
Jul 01, 2025Announcement under Regulation 30 (LODR)-CessationJun 30, 2025
Jun 30, 2025Closure of Trading WindowJun 24, 2025
Jun 24, 2025Shareholder Meeting / Postal Ballot-Outcome of Postal_BallotJun 24, 2025
Jun 24, 2025 Shareholder Meeting / Postal Ballot-Scrutinizer"s ReportJun 24, 2025
Jun 24, 2025Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011Jun 06, 2025
Jun 06, 2025Disclosures Under Reg. 29(2) Of SEBI (SAST) Regulations 2011Jun 06, 2025
Jun 06, 2025Announcement under Regulation 30 (LODR)-Meeting UpdatesJun 04, 2025
Jun 04, 2025Announcement under Regulation 30 (LODR)-Meeting UpdatesJun 03, 2025
Jun 03, 2025Intimation Of Outcome Of Analyst / Investor MeetingsMay 30, 2025
May 30, 2025Compliances-Reg.24(A)-Annual Secretarial ComplianceMay 27, 2025
May 27, 2025Announcement under Regulation 30 (LODR)-Investor PresentationMay 26, 2025
May 26, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptMay 23, 2025
May 23, 2025Intimation Of One-To-One And Group Of Analysts / Institutional Investors MeetingsMay 23, 2025
May 23, 2025Shareholder Meeting / Postal Ballot-Notice of Postal BallotMay 22, 2025
May 22, 2025Disclosure Under Regulation 30 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations 2015 ("SEBI Listing Regulations")May 20, 2025
May 20, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeMay 16, 2025
May 16, 2025Mutual Fund Holdings
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RSI(14)
Neutral 39.30
ATR(14)
Less Volatile 302.03
STOCH(9,6)
Neutral 30.79
STOCH RSI(14)
Oversold 19.43
MACD(12,26)
Bearish -32.89
ADX(14)
Weak Trend 18.52
UO(9)
Bearish 40.19
ROC(12)
Downtrend And Accelerating -2.85
WillR(14)
Neutral -61.80
About ZF Commercial
ZF Commercial Vehicle Control Systems India Limited is a subsidiary of ZF Friedrichshafen AG, specializing in the design, manufacture, and marketing of braking products and systems for commercial vehicles. The company operates five manufacturing facilities in India, along with an advanced technology development center and a vehicle testing facility. It primarily produces air brake actuation systems and also provides software development services. The company has introduced new products including electric compressors for EVs and expanded its manufacturing capacities for various components. It has a wholly owned subsidiary, ZF CV Control Systems Manufacturing India Private Limited, established in 2022.
Website
Chairperson NameAkash Passey
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