Is ZF Steering Gear (India) a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that ZF Steering Gear (India) Ltd is a average quality company .

Is ZF Steering Gear (India) undervalued or overvalued?

The key valuation ratios of ZF Steering Gear (India) Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone .

What is ZF Steering Gear (India) share price return in the past 10 years?

ZF Steering Gear (India) Ltd share price has appreciated 6.9% annually (CAGR) over the past ten years.

Is ZF Steering Gear (India) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of ZF Steering Gear (India) Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

What is the P/E ratio of ZF Steering Gear (India)?

The latest standalone P/E ratio of ZF Steering Gear (India) as of 21-Nov-2024 is 32.23.

What is the P/B ratio of ZF Steering Gear (India)?

The latest standalone P/B ratio of ZF Steering Gear (India) as of 21-Nov-2024 is 2.92.

What is the 52-week high and low of ZF Steering Gear (India)?

The 52-week high of ZF Steering Gear (India) is Rs. 1947.00 and the 52-week low is Rs. 760.00.

ZF Steering Gear (India) Ltd - Stock Valuation and Financial Performance

Name: ZF Steering Gear (India)
Brand: ZF Steering Gear (India)

BSE: 505163 | NSE: ZFSTEERING | Auto Ancillary | Small Cap

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ZF Steering Gear (I) Share Price

₹1,512.70 -20.25 -1.32%
as on 21-Nov'24 16:59

10 Year X-Ray of ZF Steering Gear (I):

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	17.1%	20.5%	18.4%	15.3%	-2.8%	1%	1.8%	7.3%	8.6%	12%	-
Value Creation Index ⓘ	0.2	0.5	0.3	0.1	-1.2	-0.9	-0.9	-0.5	-0.4	-0.1	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	330	381	399	425	439	287	201	313	450	478	476
Sales YoY Gr.	-	15.4%	4.6%	6.5%	3.5%	-34.8%	-29.7%	55.3%	44%	6.1%	-
Adj EPS ⓘ	35	48.3	54.8	48.1	45.3	3.6	-8	9.1	24.6	32.4	47.6
YoY Gr.	-	38%	13.4%	-12.2%	-5.8%	-92.1%	-321.7%	NA	170.3%	31.7%	-
BVPS (₹) ⓘ	273.5	308.1	373.2	417.3	406	404.7	415.3	435.6	462.6	510.6	524.7
Adj Net Profit ⓘ	31.8	43.8	49.7	43.6	41.1	3.3	-7.2	8.3	22.3	29.4	43
Cash Flow from Ops. ⓘ	48.2	66.7	62.6	67.5	72.7	74.9	-26.3	15.2	50.5	42.7	-
Debt/CF from Ops. ⓘ	0.5	0.5	1	0.9	0.6	0	-1.2	1.8	0.7	0.7	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	4.2%	1.7%	33.4%	6.1%
Adj EPS ⓘ	-0.9%	-6.5%	NA	31.7%
BVPSⓘ	7.2%	4.7%	7.1%	10.4%
Share Price	6.9%	32.9%	49.5%	87.8%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	13.4	16.6	16.1	12.2	11	0.9	-2	2.1	5.5	6.7	9.2
Op. Profit Mgn % ⓘ	17.5	20.7	20.6	20.9	17.7	13.7	9.2	13	12.6	11.1	10.7
Net Profit Mgn % ⓘ	9.6	11.5	12.5	10.3	9.4	1.1	-3.6	2.6	5	6.2	9.1
Debt to Equity ⓘ	0.1	0.1	0.2	0.2	0.1	0	0.1	0.1	0.1	0.1	0
Working Cap Days ⓘ	94	84	110	147	152	175	209	185	154	169	69
Cash Conv. Cycle ⓘ	24	21	33	54	61	71	117	119	99	99	39

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 9.20%

Sales growth is growing at healthy rate in last 3 years 33.36%

Net Profit has been subdued in last 3 years 0.00%

Sales growth is not so good in last 4 quarters at 0.47%

Latest Financials - ZF Steering Gear (India) Ltd.

	Standalone	Consolidated
TTM EPS (₹)	47.6	34.6
TTM Sales (₹ Cr.)	476	477
BVPS (₹.) ⓘ	524.7	509.9
Reserves (₹ Cr.) ⓘ	467	454
P/BV ⓘ	2.92	3.01
PE ⓘ	32.23	44.30

From the Market
52 Week Low / High (₹)	760.00 / 1947.00
All Time Low / High (₹)	2.50 / 2118.00
Market Cap (₹ Cr.)	1,391
Equity (₹ Cr.)	9.1
Face Value (₹)	10
Industry PE ⓘ	51.1

Management X-Ray of ZF Steering Gear (I):

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of ZF Steering Gear (I)

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of ZF Steering Gear (I)

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	330	381	399	425	439	287	201	313	450	478
Operating Expenses ⓘ	272	303	317	336	364	321	183	272	394	425
Manufacturing Costs	20	24	24	24	25	18	16	21	29	32
Material Costs	205	222	231	246	269	172	117	188	289	306
Employee Cost	36	43	45	49	51	44	40	47	56	64
Other Costs ⓘ	11	14	17	17	19	87	10	16	21	23
Operating Profit ⓘ	58	78	82	88	75	-34	18	41	56	53
Operating Profit Margin (%)	17.5%	20.6%	20.5%	20.8%	17.1%	-11.8%	9.1%	13.0%	12.5%	11.0%
Other Income ⓘ	9	6	12	10	11	4	26	21	14	38
Interest ⓘ	1	2	2	3	2	1	0	0	1	1
Depreciation ⓘ	23	25	28	33	31	32	38	31	32	33
Exceptional Items ⓘ	0	0	0	0	-67	67	0	0	0	0
Profit Before Tax ⓘ	43	58	63	61	-14	3	7	30	37	56
Tax ⓘ	7	13	13	14	-12	3	-2	12	12	8
Profit After Tax	36	45	50	47	-1	0	9	18	25	48
PAT Margin (%)	10.8%	11.8%	12.5%	11.1%	-0.3%	-0.1%	4.4%	5.8%	5.6%	10.0%
Adjusted EPS (₹)	39.2	49.7	54.8	51.9	-1.4	-0.3	9.8	20.1	28.1	52.6
Dividend Payout Ratio (%)	26%	25%	15%	15%	0%	0%	0%	0%	18%	15%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	248	280	339	379	368	367	377	395	420	463
Share Capital ⓘ	9	9	9	9	9	9	9	9	9	9
Reserves ⓘ	239	270	329	370	359	358	368	386	411	454
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	20	33	57	57	34	1	31	27	36	29
Long Term Debt	10	8	16	15	21	1	0	0	0	0
Short Term Debt	10	25	41	42	13	0	30	27	36	29
Trade Payables	39	40	45	51	38	34	30	28	35	32
Others Liabilities ⓘ	29	23	39	41	35	11	5	15	10	14
Total Liabilities ⓘ	336	375	479	527	475	413	443	465	501	538
Fixed Assets
Gross Block	271	298	148	166	202	321	334	344	352	369
Accumulated Depreciation	170	192	28	61	91	122	159	185	208	233
Net Fixed Assetsⓘ	101	106	120	105	111	199	175	159	144	135
CWIP ⓘ	1	1	0	1	26	7	2	2	2	4
Investmentsⓘ	137	165	191	232	152	107	120	119	155	142
Inventories	25	23	39	40	40	23	38	58	58	66
Trade Receivables	52	55	76	92	77	49	78	90	107	98
Cash Equivalents	3	2	2	5	6	6	10	5	1	13
Others Assetsⓘ	18	24	51	53	63	23	20	33	34	80
Total Assets ⓘ	336	375	479	527	475	413	443	465	501	538

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	48	67	63	68	73	75	-26	15	51	43
PBT ⓘ	43	58	63	61	53	-64	7	30	37	56
Adjustment ⓘ	18	23	21	28	26	104	14	17	27	4
Changes in Working Capital ⓘ	-3	1	-6	-6	6	38	-46	-27	-7	-8
Tax Paid ⓘ	-9	-15	-16	-16	-13	-4	0	-5	-7	-10
Cash Flow From Investing Activity ⓘ	-57	-54	-47	-55	-43	-29	1	-16	-62	-17
Capex	-25	-30	-42	-22	-62	-69	-10	-33	-19	-22
Net Investments	-33	-25	-6	-35	19	40	10	16	-24	36
Others ⓘ	2	1	1	3	1	1	1	1	-19	-32
Cash Flow From Financing Activityⓘ	-2	-14	-16	-10	-28	-44	26	-3	10	-13
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	0	0	0	0	0	0	0	0	0	0
Interest Paid ⓘ	-1	-2	-2	-3	-2	-3	0	0	-1	-1
Dividend Paid ⓘ	-7	-24	0	-9	-9	0	0	0	0	-5
Others ⓘ	6	12	-13	1	-17	-41	27	-3	10	-7
Net Cash Flow ⓘ	-11	-1	0	2	2	2	1	-4	-2	13

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	15.01	17.08	16.09	13.13	-0.35	-0.08	2.38	4.73	6.25	10.81
ROCE (%)	17.07	20.52	18.36	15.32	-2.75	1.04	1.81	7.27	8.63	12.02
Asset Turnover Ratio	1.15	1.2	1.05	0.87	0.88	0.64	0.47	0.69	0.93	0.92
PAT to CFO Conversion(x)	1.33	1.49	1.26	1.45	N/A	N/A	-2.89	0.83	2.04	0.9
Working Capital Days
Receivable Days	49	46	54	71	70	80	115	98	80	78
Inventory Days	25	20	25	33	33	40	55	55	47	48
Payable Days	70	65	67	71	61	77	100	56	40	40

ZF Steering Gear (India) Ltd Stock News

ZF Steering Gear (India) Ltd FAQs

What is the share price of ZF Steering Gear (I)?

Company share prices are keep on changing according to the market conditions. The closing price of ZF Steering Gear (I) on 21-Nov-2024 16:59 is ₹1,512.7.

What is the market cap of ZF Steering Gear (I)?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Nov-2024 16:59 the market cap of ZF Steering Gear (I) stood at ₹1,390.9.

What is the P/E ratio of ZF Steering Gear (I)?

The latest P/E ratio of ZF Steering Gear (I) as of 21-Nov-2024 16:59 is 32.23.

What is the P/B ratio of ZF Steering Gear (I)?

The latest P/B ratio of ZF Steering Gear (I) as of 21-Nov-2024 16:59 is 2.92.

What is the 52-week high and low of ZF Steering Gear (I)?

The 52-week high of ZF Steering Gear (I) is ₹1,947 and the 52-week low is ₹760.0.

What is the TTM revenue of ZF Steering Gear (I)?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of ZF Steering Gear (I) is ₹476.5 ( Cr.) .

About ZF Steering Gear (India) Ltd

ZF Steering Gear started in 1981 to manufacture Mechanical - worm & roller and integral hydraulic power steering gears in financial and technical collaboration with ZF Friedrichafen AG Germany, the world's largest independent steering gears manufacturer.

The factory of the company has workforce of 700 persons out of which more than 500 are qualified and experienced engineers working in various departments such as production, quality control, product development, design, heat treatment, marketing, etc for meeting the quality standard of manufacturing.

The factory is equipped with advanced specially designed machinery from ZF Germany for manufacturing critical components and includes systematic cluster of wide range of CNC machines and special purpose machines.

The factory has its own in-house heat treatment facility consisting of Sealed Quench Furnaces,Pit Carburised Furnaces for case Carburising, nitriding etc. The Heat Treatment department also has well equipped metallurgical laboratory for material testing. Present installed capacity is 1,40,000 units of mechanical steering gears and 2,70,000 units of power steering gears per annum, and the sales-turnover of ZF India for the year 2007-2008 was Rs. 258 crore.

In view of the encouraging response from the automobile manufacturers of repute, expansion plans are in progress, for expanding the production capacity well in advance of mechanical steering gears to the level of 1,50,000 units and power steering gears 3,00,000 units.

Milestones :

1983 Started commercial production of worm and roller steering gears for Bajaj Tempo Ltd. And Premier Auto Ltd.
1986 Started supplies of HCV Power Steering to Ashok Leyland Ltd. Started supplies of HCV Power Steering to Tata Motors Ltd. Developed Nissan Carrier & Nissan Patrol Steering Gears. Developed & started production of steering gears for Punjab Tractors Ltd.
1993 Developed and started supplies to Eicher Tractors Developed all types of Power Steering for RH & LH versions for Bus/ Truck applicationsDeveloped and started production of LCV Power Steering
1998 Designed and developed Power Steering Gears for Sumo, Safari and 207 range of Tata vehicles Developed steering gears for Mahindra & Mahindra Tractors Designed and developed LCV Power Steering Gear for Tempo TravellerDesigned and developed Power Steering for Canter Range of vehicles of Eicher Motors
2003 Developed LCV Power Steering Gears for trucks & buses of Swaraj Mazda Ltd. Started supplies of Servocom Steering Gears to Volvo, India. Developed Single drop arm worm & roller steering gears for Escorts Ltd. Developed Single drop arm worm & roller steering gears for New Holland Tractors (I) Pvt. Ltd. Started supplies for Ashok Leyland Ltd new developing models
2005 Started supplies to L& T John Deere Pvt. Ltd.
2006 Servocom Steering Gear for HCV, MAV, Busses. Rack & Pinion Power Steering Gear for Passenger Cars
2009 -8046 Power Steering Gear Launched.
Rack & Pinion Mech. Steering Launched.
2012 - ZF steering Gear(India) successfully commisions 5MW solar power project.
ZF Lenksysteme India Private Limited, Joint Venture Company in which the Company holds 26% paid-up capital of the Company, inauguratED their factory on April 26, 2012 at Pune.

Product range of the company includes:

Ball and Nut Power Steering Gear
Worm and Roller Manual Steering Gears
Rack and Pinion Power Steering Gears
Vane Pumps
Steering Columns
Bevel Gear Box
Universal Joints

The company is also engaged in new product developments

Different divisions of the company are : Research & Development Production Engineering Heat Treatment

Achievements/ recognition :1. Quality Certification - - ISO/ TS 16949 : 2002 TUV : Rheinland - DIN EN ISO - 14001:1996 TUV : Rheinland2. Awarded ISO 9001 Certification by BVQI.