ZF Commercial Vehicle Control Systems India Limited

BSE: ZFCVINDIA533023ISIN INE342J01019

Consumer Discretionary
Auto Components & Equipments
BSE 500

BSE listing

Share price

₹2,390.45-59.35 (-2.42%)

as of 18 Sep 2026

52W high: ₹16,592.85
52W low: ₹2,261.00
Off 52W high: -85.59%
1M return: -8.66%
3M return: -84.84%
6M return: -82.56%
1Y return: -82.22%
20D avg volume: 15,767
50 DMA: ₹2,496.28
200 DMA: ₹10,912.92

Key ratios Consolidated

Market cap: ₹27,205 Cr
Current price: ₹2,390.45
52W high / low: ₹16,592.85 / ₹2,261.00
Face value: ₹5.00
P/E: 54.49
P/B: —
EPS (TTM): ₹43.87
Book value / share: —
ROE: —
ROCE: 18.50%
Operating margin: —
Net margin: —
Debt / equity: 0.00
Net debt: ₹-191.73 Cr
Interest cover: 130.80
Dividend yield: 0.17%
Dividend / share (TTM): ₹4.00
Payout: 9.12%
Cash conversion cycle: 67.3 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	1,066	1,155	1,075	913.24	975.55	1,012	962.41	910.91	945.76	958.64	898.51	991.69
	35.63	41.58	30.05	44.97	66.60	27.12	16.52	39.27	25.30	19.89	29.46	24.14
	961.75	1,000	910.51	812.34	878.00	870.17	818.41	803.73	837.53	842.35	792.54	874.62
	638.08	686.40	595.82	520.15	556.06	606.84	542.19	530.75	549.73	596.26	544.40	612.71
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	170.20	169.83	145.78	144.26	150.31	129.46	140.45	133.10	136.52	117.75	116.22	116.57
	1.20	1.01	1.78	1.24	1.31	1.41	1.24	1.29	1.77	0.97	1.38	1.33
	32.28	33.94	32.91	32.23	32.71	32.00	31.84	31.44	28.97	28.82	26.23	27.07
	124.87	112.44	123.94	119.11	128.82	118.19	98.93	111.24	109.34	115.19	95.73	114.57
	140.05	196.58	194.45	145.87	164.15	168.83	160.52	146.45	133.53	136.18	135.42	141.21
	0.00	0.00	-7.94	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	140.05	196.58	186.52	145.87	164.15	168.83	160.52	146.45	133.53	136.18	135.42	141.21
	35.57	50.26	46.34	37.60	41.78	42.11	35.06	37.33	34.09	35.98	34.58	35.53
	104.48	146.32	140.17	108.28	122.38	126.72	125.46	109.12	99.43	100.20	100.84	105.68
	9.18	77.14	73.90	57.08	64.52	66.81	66.15	57.53	52.42	52.83	53.16	55.72
Key metrics
	173.53	231.53	221.21	179.34	198.17	202.24	193.60	179.18	164.27	165.97	163.03	169.61
	16.30%	20.00%	20.60%	19.60%	20.30%	20.00%	20.10%	19.70%	17.40%	17.30%	18.10%	17.10%
	9.80%	12.70%	13.00%	11.90%	12.50%	12.50%	13.00%	12.00%	10.50%	10.50%	11.20%	10.70%
	—	5.20%	—	4.20%	—	5.20%	—	—	—	—	—	—
	9.30%	14.20%	11.70%	0.30%	3.10%	5.60%	7.10%	-8.10%	—	—	—	—
	-14.60%	15.50%	11.70%	-0.80%	23.10%	26.50%	24.40%	3.30%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22
Income statement
	4,210	4,119	3,831	3,816	3,444	2,543
	152.23	183.19	108.20	94.82	66.98	37.53
	3,685	3,601	3,330	3,364	3,084	2,385
	2,440	2,358	2,230	2,350	2,197	1,649
	0.00	0.00	0.00	—	—	—
	630.07	610.18	539.53	465.14	376.72	328.69
	5.23	5.34	5.71	5.01	5.67	1.90
	131.36	131.80	124.25	109.80	104.78	92.43
	480.36	484.31	437.70	437.09	400.61	318.80
	676.95	701.05	609.32	546.43	426.90	195.74
	-7.94	-7.94	0.00	0.00	0.00	0.00
	669.02	693.12	609.32	546.43	426.90	195.74
	169.77	175.97	148.59	139.98	109.22	53.67
	499.25	517.15	460.73	406.45	317.67	142.07
	217.30	272.65	242.90	214.28	167.48	74.90
Key metrics
	805.61	830.26	739.28	661.24	537.35	290.07
	19.14%	20.20%	19.30%	17.30%	15.60%	11.40%
	11.86%	12.60%	12.00%	10.70%	9.20%	5.60%
	—	18.50%	18.70%	—	—	—
	—	7.50%	0.40%	10.80%	35.40%	—
	—	12.20%	13.40%	27.90%	123.60%	—
	—	664.23	118.61	—	—	—
	—	1.57	0.62	—	—	—
	—	0.00	0.00	—	—	—
	—	-191.73	-129.60	—	—	—
	—	67.3	91.4	—	—	—
Balance sheet
	—	4,426	3,785	—	—	—
	—	3,493	2,842	—	—	—
	—	191.73	129.60	—	—	—
	—	941.50	1,120	—	—	—
	—	281.50	190.57	—	—	—
	—	39.65	0.00	—	—	—
	—	720.44	722.57	—	—	—
	—	462.21	351.21	—	—	—
	—	658.89	490.03	—	—	—
	—	0.00	0.00	—	—	—
	—	0.00	0.00	—	—	—
	—	0.00	0.00	—	—	—
	—	3,691	3,215	—	—	—
Cash flow
	—	810.16	286.08	—	—	—
	—	-707.43	-227.74	—	—	—
	—	-52.09	-44.11	—	—	—
	—	145.93	167.47	—	—	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24
Income statement
	1,042	1,133	1,058	901.80	963.23	1,003	955.89	906.70	938.31	955.52	886.82	980.83
	36.03	42.39	31.88	44.52	67.05	27.41	17.18	39.65	25.52	19.99	30.15	24.22
	944.18	984.81	896.88	802.62	868.81	863.63	813.25	799.60	830.56	838.28	783.30	865.19
	626.54	669.81	584.31	512.46	549.61	600.73	538.31	528.09	544.73	592.40	535.87	604.29
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—	—
	169.90	169.68	145.54	144.00	150.07	129.22	140.22	132.84	136.26	117.52	115.83	116.16
	1.18	1.27	1.47	1.24	1.31	1.41	1.24	1.29	1.77	0.97	1.38	1.33
	31.53	33.34	32.38	31.71	32.19	31.52	31.42	31.09	28.66	28.68	26.15	27.02
	122.92	111.10	122.64	117.90	127.88	117.34	98.35	110.51	108.19	114.74	95.49	114.01
	133.57	190.38	192.65	143.70	161.48	166.97	159.82	146.75	133.26	137.24	133.67	139.86
	0.00	0.00	-7.94	0.00	0.00	0.00	—	—	—	—	—	—
	133.57	190.38	184.71	143.70	161.48	166.97	159.82	146.75	133.26	137.24	133.67	139.86
	34.46	49.03	46.03	37.23	41.30	41.77	34.91	37.41	34.05	36.16	34.05	35.53
	99.10	141.35	138.68	106.47	120.17	125.19	124.91	109.34	99.22	101.07	99.62	104.33
	8.71	74.52	73.12	56.13	63.36	66.00	65.85	57.65	52.31	53.29	52.52	55.01
Key metrics
	166.28	224.99	218.56	176.65	194.98	199.90	192.48	179.13	163.69	166.89	161.20	168.21
	16.00%	19.90%	20.70%	19.60%	20.20%	19.90%	20.10%	19.80%	17.40%	17.50%	18.20%	17.10%
	9.50%	12.50%	13.10%	11.80%	12.50%	12.50%	13.10%	12.10%	10.60%	10.60%	11.20%	10.60%
	—	5.10%	—	4.20%	—	5.10%	—	—	—	—	—	—
	8.10%	12.90%	10.60%	-0.50%	2.70%	5.00%	7.80%	-7.60%	—	—	—	—
	-17.50%	12.90%	11.00%	-2.60%	21.10%	23.90%	25.40%	4.80%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18
Income statement
	4,134	4,055	3,804	3,784	3,445	2,543	1,864	1,930	2,854	2,609
	154.82	185.83	109.75	95.77	67.01	37.53	38.89	63.88	72.47	50.96
	3,628	3,553	3,307	3,335	3,085	2,385	1,750	1,770	2,516	2,279
	2,393	2,316	2,212	2,324	2,197	1,649	1,136	1,126	1,835	1,577
	0.00	0.00	0.00	—	—	—	—	—	—	—
	629.12	609.29	538.54	463.97	376.71	328.69	290.44	265.69	253.64	229.10
	5.16	5.29	5.70	5.01	5.67	1.90	1.99	1.92	—	1.62
	128.96	129.61	122.70	109.49	104.76	92.43	90.40	90.11	71.44	61.74
	474.56	479.52	434.38	435.54	400.51	318.80	233.06	263.71	368.45	343.72
	660.30	688.20	606.80	544.42	426.89	195.74	152.26	223.34	410.91	381.78
	-7.94	-7.94	0.00	—	—	—	—	—	—	—
	652.36	680.27	606.80	544.42	426.89	195.74	152.26	223.34	410.91	381.78
	166.75	173.59	148.14	139.64	109.22	53.67	48.46	64.52	128.75	108.96
	485.60	506.68	458.66	404.78	317.67	142.07	103.81	158.81	282.17	272.83
	212.48	267.13	241.81	213.41	167.48	74.90	54.73	83.73	148.76	—
Key metrics
	786.48	815.17	735.20	658.92	537.32	290.07	244.65	315.37	482.35	445.14
	19.02%	20.10%	19.30%	17.40%	15.60%	11.40%	13.10%	16.30%	16.90%	17.10%
	11.75%	12.50%	12.10%	10.70%	9.20%	5.60%	5.60%	8.20%	9.90%	10.50%
	—	18.30%	18.60%	—	—	—	—	—	—	—
	—	6.60%	0.50%	9.80%	35.40%	36.50%	-3.40%	-32.40%	9.40%	—
	—	10.50%	13.30%	27.40%	123.60%	36.90%	-34.60%	-43.70%	3.40%	—
	—	666.62	116.12	—	—	—	—	—	—	—
	—	1.60	0.60	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—
	—	-187.07	-127.20	—	—	—	—	—	—	—
	—	68.2	92.7	—	—	—	—	—	—	—
Balance sheet
	—	4,368	3,760	—	—	—	—	—	—	—
	—	3,449	2,830	—	—	—	—	—	—	—
	—	187.07	127.20	—	—	—	—	—	—	—
	—	915.48	1,112	—	—	—	—	—	—	—
	—	263.62	186.45	—	—	—	—	—	—	—
	—	34.06	0.00	—	—	—	—	—	—	—
	—	693.53	698.80	—	—	—	—	—	—	—
	—	421.14	332.80	—	—	—	—	—	—	—
	—	615.77	469.31	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—
	—	0.00	0.00	—	—	—	—	—	—	—
	—	3,676	3,211	—	—	—	—	—	—	—
Cash flow
	—	809.35	273.65	—	—	—	—	—	—	—
	—	-708.88	-212.14	—	—	—	—	—	—	—
	—	-52.09	-44.12	—	—	—	—	—	—	—
	—	142.73	157.53	—	—	—	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +5.59%
Sales CAGR 5Y: +16.83%
Sales CAGR 10Y: —
Profit CAGR 3Y: +16.84%
Profit CAGR 5Y: +37.31%
Profit CAGR 10Y: —
Sales YoY (TTM): +7.96%
Profit YoY (TTM): +1.25%

Consolidated

Sales CAGR 3Y: +6.14%
Sales CAGR 5Y: —
Sales CAGR 10Y: —
Profit CAGR 3Y: +17.64%
Profit CAGR 5Y: —
Profit CAGR 10Y: —
Sales YoY (TTM): +9.03%
Profit YoY (TTM): +3.22%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Jun 2026

Promoter holding: 60.00%

Holder	Type	Holding	Previous	Change
Wabco Asia Private Limited	Promoter	60.00%	—	—
SBI NIFTY SMALLCAP 250 ETF	Public	6.82%	—	—
NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA NIFTY 500 EQUAL WEIGHT	Public	4.40%	—	—
KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK NIFTY SMALLCAP 250 INDEX FUND	Public	2.16%	—	—
ICICI PRUDENTIAL NIFTY SMALLCAP 250 ETF	Public	1.62%	—	—
Association of Persons	Public	0.00%	—	—

Public shareholders are disclosed individually only above 1%.

Filings & corporate actions

Recent announcements

Intimation under Reg. 30 of SEBI (LODR) - Favourable Order received from the Income Tax Appellate Tribunal18 Sep 2026 · Company Update / General
Resignation of Senior Managerial Personnel15 Sep 2026 · Company Update / Change in Management
Intimation of Institutional Investor Meeting15 Sep 2026 · Company Update / Analyst / Investor Meet
CFO Appointment1 Sep 2026 · Company Update / General
Receipt of show cause notice12 Aug 2026 · Company Update / General
Earnings Call Transcript - Q1 F.Y.2026-273 Aug 2026 · Company Update / Analyst / Investor Meet
Scrutinizers Report of 22nd AGM28 Jul 2026 · AGM/EGM / AGM
Q1 - Earnings Call Recording28 Jul 2026 · Company Update / Analyst / Investor Meet
Scrutinizers Report of 22nd AGM28 Jul 2026 · AGM/EGM / AGM
Press release on ESC Business nominations28 Jul 2026 · Company Update / Press Release / Media Release
Proceedings of 22nd AGM24 Jul 2026 · AGM/EGM / AGM
Appointment of KMPs24 Jul 2026 · Company Update / Change in Management
Q1 Financial results24 Jul 2026 · Result / Financial Results
Board meeting outcome for Q124 Jul 2026 · Board Meeting / Outcome of Board Meeting
Intimation of Schedule of Earnings Call for Q1 of F.Y. 2026-2721 Jul 2026 · Company Update / Analyst / Investor Meet
ZF Commercial Vehicle Control Systems India Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 24/07/2026 ,inter alia, to consider and approve ....15 Jul 2026 · Board Meeting / Board Meeting
Compliance certificate Q1 on SEBI (DP) Regulations, 20187 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Newspaper publication for 22nd AGM3 Jul 2026 · Company Update / Newspaper Publication
BRSR Report along with assurance statement for FY 2025-262 Jul 2026 · Others / Business Responsibility and Sustainability Reporting (BRSR)
22nd Annual General Meeting Notice2 Jul 2026 · AGM/EGM / AGM
Integrated Annual Report for the FY 2025-262 Jul 2026 · Others / Reg. 34 (1) Annual Report
Resignation of Ms. Sweta Agarwal, CFO30 Jun 2026 · Company Update / Resignation of Chief Financial Officer (CFO)
Pre-Dispatch Newspaper publication for the 22nd AGM25 Jun 2026 · Company Update / Newspaper Publication
Trading Window Closure25 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Intimation under Reg. 30 of SEBI LODR Regulations, 2015 - Allotment of 9,48,37,920 Bonus Equity Shares of Rs.5/- each in the ratio of 5:1 to the eligible shareholders who hold the Equity ....25 Jun 2026 · Company Update / Allotment of Equity Shares
Record date for issuance of Bonus shares17 Jun 2026 · Corp. Action / Record Date
Proceedings of 12th Postal ballot17 Jun 2026 · AGM/EGM / Postal Ballot
12th Postal Ballot - Voting results and Scrutinizer''s Report17 Jun 2026 · AGM/EGM / Postal Ballot
Outcome of Analyst / Institutional Investor Meeting under the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015.15 Jun 2026 · Company Update / Analyst / Investor Meet
Intimation of one-to-one Analyst / Institutional Investor Meeting10 Jun 2026 · Company Update / Analyst / Investor Meet
Newspaper publication on Transfer of shares to IEPF10 Jun 2026 · Company Update / Newspaper Publication
Outcome of Investor/Analyst Conference under the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015.27 May 2026 · Company Update / Analyst / Investor Meet
Investor / Analyst Conference Presentation26 May 2026 · Company Update / Analyst / Investor Meet
ASCR for FY 2025-2626 May 2026 · Company Update / Reg.24(A)-Annual Secretarial Compliance
Schedule of Investor/ Analyst Conference22 May 2026 · Company Update / Analyst / Investor Meet
Transcript of earnings call Q421 May 2026 · Company Update / Earnings Call Transcript
Postal Ballot notice18 May 2026 · AGM/EGM / Postal Ballot
Recording of Earnings Call15 May 2026 · Company Update / Analyst / Investor Meet
Alteration in MoA & AoA13 May 2026 · Company Update / Amendments to Memorandum & Articles of Association
Board approves issuance of bonus equity shares, subject to approval of shareholders13 May 2026 · Corp. Action / Bonus

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 4.0000	10 Jul 2026	10 Jul 2026	—
Bonus issue 5:1	24 Jun 2026	24 Jun 2026	—
Final Dividend - Rs. - 19.0000	8 Aug 2025	8 Aug 2025	—
Final Dividend - Rs. - 17.0000	15 Jul 2024	15 Jul 2024	—

Board meetings

24 Jul 2026 Board Meeting - Financial Results