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ZF Commercial Vehicle Control Systems India Limited
(ZFCVINDIA)
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Rating:75Outperform
Price Target:
₹2,628.00
▼(-82.29% Downside)
Action:Upgraded
Date:06/24/26
The score is driven primarily by strong fundamentals, led by a very low-debt balance sheet, improved profitability, and solid multi-year growth, with some caution due to margin compression and historically uneven free cash flow. Technicals are supportive with an established uptrend, though near-overbought signals add modest risk. Valuation is the main constraint, with a high P/E and a low dividend yield.
Positive Factors
Conservative balance sheet
Extremely low leverage provides durable financial flexibility to fund capex, absorb OEM payment cycles, and pursue strategic investments without reliance on costly debt. This resilience supports long-term contract negotiations and downside protection in the cyclic commercial-vehicle market.
Negative Factors
Margin compression
Peak margins in 2025 followed by compression in 2026 indicate exposure to commodity cost inflation, adverse product mix, or pricing pressure from OEMs. If persistent, margin erosion would limit operating leverage, constrain ROE upside, and reduce cash available for reinvestment or shareholder distributions.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Extremely low leverage provides durable financial flexibility to fund capex, absorb OEM payment cycles, and pursue strategic investments without reliance on costly debt. This resilience supports long-term contract negotiations and downside protection in the cyclic commercial-vehicle market.
Read all positive factors
ZF Commercial Vehicle Control Systems India Limited (ZFCVINDIA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹265.57B
Dividend Yield0.13%
Average Volume (3M)367.00
Price to Earnings (P/E)53.0
Beta (1Y)0.73
Revenue Growth7.52%
EPS Growth12.25%
CountryIN
Employees2,350
SectorGeneral
Sector StrengthN/A
IndustryAuto - Parts
Share Statistics
EPS (TTM)45.44
Shares Outstanding113,805,504
10 Day Avg. Volume237
30 Day Avg. Volume367
Financial Highlights & Ratios
PEG Ratio4.12
Price to Book (P/B)7.08
Price to Sales (P/S)6.34
P/FCF Ratio34.42
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)54.05
Revenue Forecast (FY)₹47.14B
ZF Commercial Vehicle Control Systems India Limited Business Overview & Revenue Model
Company Description
ZF Commercial Vehicle Control Systems India Limited (ZFCVCSIL) operates as a comprehensive provider of automotive solutions, spanning design, development, production, and global distribution from its base in India. The company's extensive product ...
How the Company Makes Money
ZFCVINDIA primarily makes money by manufacturing and selling commercial-vehicle control-system components and related solutions to vehicle manufacturers and other automotive customers. Revenue is typically earned through (1) direct sales of compon...
ZF Commercial Vehicle Control Systems India Limited Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
76
Positive
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 41.19B | 37.94B | 37.84B | 34.16B | 25.22B |
| Gross Profit | 10.08B | 14.32B | 12.90B | 10.78B | 7.74B |
| EBITDA | 8.30B | 7.39B | 6.61B | 5.37B | 2.90B |
| Net Income | 5.17B | 4.61B | 4.06B | 3.18B | 1.42B |
Balance Sheet | |||||
| Total Assets | 44.25B | 37.85B | 33.82B | 30.22B | 26.37B |
| Cash, Cash Equivalents and Short-Term Investments | 22.30B | 14.96B | 13.20B | 12.65B | 10.62B |
| Total Debt | 548.23M | 660.83M | 684.36M | 653.45M | 38.86M |
| Total Liabilities | 7.35B | 5.71B | 5.91B | 6.13B | 5.23B |
| Stockholders Equity | 36.91B | 32.15B | 27.90B | 24.09B | 21.14B |
Cash Flow | |||||
| Free Cash Flow | 7.59B | 1.20B | -54.62M | 1.71B | -382.34M |
| Operating Cash Flow | 9.05B | 2.86B | 1.93B | 2.98B | 1.38B |
| Investing Cash Flow | -8.02B | -2.28B | -1.31B | -2.71B | -1.77B |
| Financing Cash Flow | -520.89M | -441.14M | -341.16M | -310.70M | -284.50M |
ZF Commercial Vehicle Control Systems India Limited Technical Analysis
Negative
14838.20
Price Trends
2442.90
Negative
2421.73
Negative
2368.86
Negative
Market Momentum
-44.30
Positive
40.10
Neutral
25.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ZFCVINDIA, the sentiment is Negative. The current price of 14838.2 is above the 20-day moving average (MA) of 2456.56, above the 50-day MA of 2442.90, and above the 200-day MA of 2368.86, indicating a bearish trend. The MACD of -44.30 indicates Positive momentum. The RSI at 40.10 is Neutral, neither overbought nor oversold. The STOCH value of 25.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ZFCVINDIA.
ZF Commercial Vehicle Control Systems India Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | ₹265.57B | 53.04 | ― | 0.13% | 7.52% | 12.25% | |
75 Outperform | ₹424.29B | 68.37 | ― | 0.65% | 25.80% | 3.86% | |
70 Outperform | ₹1.21T | 43.45 | ― | 1.42% | 10.77% | 37.61% | |
66 Neutral | ₹1.52T | 39.50 | ― | 0.47% | 10.95% | -11.42% | |
64 Neutral | ₹388.40B | 40.39 | ― | 0.38% | 26.25% | 13.79% | |
59 Neutral | ₹38.59B | 48.32 | ― | 0.49% | 11.10% | -2.62% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:ZFCVINDIA
ZF Commercial Vehicle Control Systems India Limited
2,332.45
147.26
6.74%
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ZF Commercial Vehicle Control Systems India Limited Corporate Events
ZF Commercial Vehicle Control Systems India Announces 22nd AGM via Virtual Platform
Jul 3, 2026
ZF Commercial Vehicle Control Systems India Limited has announced that it has published newspaper advertisements in Business Standard and Makkal Kural regarding its 22nd Annual General Meeting, to be held on July 24, 2026 at 15:00 IST via video co...
ZF Commercial Vehicle Control Systems India Boosts Capital with 5:1 Bonus Share Issue
Jun 25, 2026
ZF Commercial Vehicle Control Systems India Limited has approved the allotment of 94,837,920 fully paid bonus equity shares of Rs 5 each, issued in a 5:1 ratio to shareholders on record as of June 24, 2026. This corporate action follows shareholde...
ZF Commercial Vehicle Control Systems India Secures Shareholder Nod via Postal Ballot for Capital Expansion and Bonus Issue
Jun 17, 2026
ZF Commercial Vehicle Control Systems India Limited has reported to the Indian stock exchanges the proceedings of its 12th postal ballot, conducted entirely through remote e-voting in line with the Companies Act, SEBI listing regulations, MCA circ...
ZF Commercial Vehicle Control Systems India Sets Record Date for 5-for-1 Bonus Share Issue
Jun 17, 2026
ZF Commercial Vehicle Control Systems India Limited has set June 24, 2026 as the record date to determine shareholder eligibility for a bonus issue of equity shares in a 5:1 ratio, meaning investors will receive five new shares for every one share...
ZF Commercial Vehicle Control Systems India Reshuffles Board and Audit Committee
Apr 27, 2026
ZF Commercial Vehicle Control Systems India Limited has announced changes to its board, with Non-Executive Non-Independent Director Dr. Lars Orlik resigning effective 30 April 2026 due to personal and professional commitments, which also ends his ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.