ZF Commercial Vehicle Control Systems India Limited (IN:ZFCVINDIA)
:ZFCVINDIA
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ZF Commercial Vehicle Control Systems India Limited
(ZFCVINDIA)
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Rating:67Neutral
Price Target:
₹15,336.00
▲(3.35% Upside)
Action:Reiterated
Date:05/15/26
The score is driven primarily by strong financial quality (notably very low leverage, solid profitability, and improved cash generation in 2026). Offsetting this are weak near-term technicals (price below key moving averages with subdued momentum) and a demanding valuation (high P/E with a very low dividend yield).
Positive Factors
Low leverage / strong balance sheet
Exceptionally low debt provides durable financial flexibility: the company can fund capex, absorb cyclicality in commercial vehicles, and pursue selective R&D or supply agreements without levering up. This underpins long-term resilience and options for strategic investments.
Negative Factors
Margin compression in 2026
Recent margin compression suggests structural cost or mix pressures that could persist. If input costs, pricing dynamics with OEMs, or product mix trends continue to depress gross and operating margins, sustaining higher ROE and funding growth without margin recovery will be challenging over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage / strong balance sheet
Exceptionally low debt provides durable financial flexibility: the company can fund capex, absorb cyclicality in commercial vehicles, and pursue selective R&D or supply agreements without levering up. This underpins long-term resilience and options for strategic investments.
Read all positive factors
ZF Commercial Vehicle Control Systems India Limited (ZFCVINDIA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹273.13B
Dividend Yield0.13%
Average Volume (3M)367.00
Price to Earnings (P/E)50.5
Beta (1Y)0.46
Revenue Growth7.52%
EPS Growth12.24%
CountryIN
Employees2,350
SectorIndustrials
Sector Strength72
IndustryAuto - Parts
Share Statistics
EPS (TTM)254.56
Shares Outstanding18,967,585
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 Target
₹19,000.00Price Target Upside28.05% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)324.28
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 designs, develops, manufactures, and sells automotive products in India and internationally. The company offers active and passive safety systems, steering systems, clutch systems, axle systems, ...
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 | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 38.61B | 41.19B | 37.94B | 37.84B | 34.16B | 25.22B |
| Gross Profit | 13.30B | 10.08B | 14.32B | 12.90B | 10.78B | 7.74B |
| EBITDA | 7.73B | 6.55B | 7.39B | 6.61B | 5.37B | 2.90B |
| Net Income | 4.83B | 5.17B | 4.61B | 4.06B | 3.18B | 1.42B |
Balance Sheet | ||||||
| Total Assets | 40.13B | 44.25B | 37.85B | 33.82B | 30.22B | 26.37B |
| Cash, Cash Equivalents and Short-Term Investments | 18.98B | 22.30B | 14.96B | 13.20B | 12.65B | 10.62B |
| Total Debt | 616.01M | 548.23M | 660.83M | 684.36M | 653.45M | 38.86M |
| Total Liabilities | 6.01B | 7.35B | 5.71B | 5.91B | 6.13B | 5.23B |
| Stockholders Equity | 34.11B | 36.91B | 32.15B | 27.90B | 24.09B | 21.14B |
Cash Flow | ||||||
| Free Cash Flow | 3.87B | 7.59B | 1.20B | -54.62M | 1.71B | -382.34M |
| Operating Cash Flow | 4.46B | 9.05B | 2.86B | 1.93B | 2.98B | 1.38B |
| Investing Cash Flow | -3.74B | -8.02B | -2.28B | -1.31B | -2.71B | -1.77B |
| Financing Cash Flow | -430.61M | -520.89M | -441.14M | -341.16M | -310.70M | -284.50M |
ZF Commercial Vehicle Control Systems India Limited Technical Analysis
Neutral
14838.20
Price Trends
14269.21
Positive
14574.73
Negative
14037.14
Positive
Market Momentum
-26.97
Positive
47.82
Neutral
34.51
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ZFCVINDIA, the sentiment is Neutral. The current price of 14838.2 is above the 20-day moving average (MA) of 14645.35, above the 50-day MA of 14269.21, and above the 200-day MA of 14037.14, indicating a neutral trend. The MACD of -26.97 indicates Positive momentum. The RSI at 47.82 is Neutral, neither overbought nor oversold. The STOCH value of 34.51 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:ZFCVINDIA.
ZF Commercial Vehicle Control Systems India Limited Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹275.05B | 58.47 | ― | 1.18% | 9.64% | -9.12% | |
70 Outperform | ₹175.63B | 24.38 | ― | 0.84% | 5.60% | 9.66% | |
69 Neutral | ₹109.06B | 353.10 | ― | 0.41% | 3.97% | -17.80% | |
68 Neutral | ₹81.81B | 26.28 | ― | 0.39% | -23.51% | -53.01% | |
67 Neutral | ₹273.13B | 50.50 | ― | 0.13% | 7.52% | 12.24% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
56 Neutral | ₹204.36B | 42.48 | ― | 0.07% | 41.80% | 91.43% |
* Industrials Sector Average
IN:ZFCVINDIA
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ZF Commercial Vehicle Control Systems India Limited Corporate Events
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 ...
ZF Commercial Vehicle Control Systems India to Shut Trading Window Ahead of FY26 Results
Mar 25, 2026
ZF Commercial Vehicle Control Systems India Limited has notified the stock exchanges that its board and audit committee will meet in May 2026 to consider the audited financial results for the quarter and financial year ending 31 March 2026. In lin...
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.