ZF Steering Gear Publishes FY26 Results; Expands Capacity
ZF Steering Gear (India) Limited published its audited financial results for FY26, reporting a standalone net profit of ₹31.78 crore on revenue of ₹556.74 crore. Consolidated net profit was ₹12.04 crore. The Board approved a capacity expansion at Metacast Auto Private Limited to 25,000 MT p.a. with an investment of ₹25 crore and re-appointed Mr. Dinesh Munot and Mr. Utkarsh Munot as directors.
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ZF Steering Gear (India) Limited has published the extracts of the newspaper publication of its audited financial results for the quarter and financial year ended March 31, 2026, in Business Standard and Loksatta. The results were approved by the Board of Directors at its meeting held on May 12, 2026.
Standalone Financial Performance
On a standalone basis, the company reported revenue from operations of ₹556.74 crores for the full year, compared to ₹492.86 crores in the previous year. Net profit after tax for the year stood at ₹31.78 crores, compared to ₹33.89 crores in the previous year. For the quarter ended March 31, 2026, revenue from operations was ₹168.91 crores and net profit after tax was ₹4.19 crores.
| Metric: | Q4 FY26 | FY26 | FY25 |
|---|---|---|---|
| Revenue from Operations (₹ Cr): | 168.91 | 556.74 | 492.86 |
| Net Profit After Tax (₹ Cr): | 4.19 | 31.78 | 33.89 |
| Basic EPS (₹): | 4.62 | 35.03 | 37.35 |
The company reported exceptional items of ₹0.67 crores for the full year, representing the statutory impact of new Labour Codes notified by the Government of India. Reserves excluding revaluation reserve were ₹512.67 crores as at March 31, 2026.
Consolidated Financial Performance
On a consolidated basis, which includes subsidiaries DriveSys Systems Private Limited, Metacast Auto Private Limited, and Nexsteer Systems Private Limited, revenue from operations stood at ₹571.06 crores against ₹493.87 crores previously. Consolidated net profit after tax for the year was ₹12.04 crores, compared to ₹12.59 crores in the prior year.
| Metric: | Q4 FY26 | FY26 | FY25 |
|---|---|---|---|
| Revenue from Operations (₹ Cr): | 174.34 | 571.06 | 493.87 |
| Net Profit After Tax (₹ Cr): | (0.89) | 12.04 | 12.59 |
| Basic EPS (₹): | (0.04) | 16.96 | 16.44 |
Capacity Expansion and Director Re-appointments
The Board approved the expansion of installed casting capacity at Metacast Auto Private Limited from 10,000 metric tonnes per annum to 25,000 metric tonnes per annum. The expansion requires an investment of ₹25 crore and is expected to be completed within the next 12–15 months.
Additionally, the Board approved the re-appointment of Mr. Dinesh Munot as Chairman and Whole-Time Director for a term of five consecutive years effective from July 28, 2026, and Mr. Utkarsh Munot as Managing Director for a term of five consecutive years effective from May 19, 2026.
Historical Stock Returns for ZF Steering Gear
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.95% | -5.59% | -21.18% | -20.79% | -20.79% | -20.79% |
How will the 150% capacity expansion at Metacast Auto impact ZF Steering Gear's consolidated margins and revenue mix over the next 2-3 years, given the debt-funded nature of the ₹25 crore investment?
With consolidated net profit declining despite strong revenue growth, which subsidiaries among DriveSys Systems, Metacast Auto, and Nexsteer Systems are dragging profitability, and what turnaround strategies are being considered?
How might the implementation of India's consolidated Labour Codes affect ZF Steering Gear's workforce costs and operational flexibility beyond the ₹0.67 crore exceptional item already recognized?
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