āagman

Not investment advice. Data and computed figures, for information only.

ZF Commercial Vehicle Control System India Ltd

NSE: ZFCVINDIA
₹2,158.90
−₹14.10 (−0.65%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹23,697 Cr
CMP
₹2,158.90
52-wk High / Low
₹16,665 / 2,075
P/E
46.9
P/B
6.4
Book Value
₹324.0
Div Yield
0.19%
ROCE
19.0%
ROE
14.6%
Face Value
₹5
D/E
0.01

Price−83.8% over 1Y

āagman read

Computed by āagman
Derived from 5 years and 14 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
5
/ 9
5 of 9 F-score tests passed
Graham Number
₹576
√(22.5 × EPS × book value per share)
ROIC
10.5%
vs 11.5% sector median
Cash flow to profit
1.57
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−58
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
13.3%
ROE × earnings retention ratio
ROE stability
3.0
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII +0.14DII −0.76
Latest quarter vs the previous one
Cash-accrual divergence
−7.1%
of assets
Low = accruals track cash flow
Strengths
+FII holding rose by 4.6pp over the last year
Watch-outs
−Price trades below its 200-day moving average (0.2x)
−Price is 87.0% below its 52-week high
−Annualised volatility of 182.0% is in the high band (≥45%)
−Promoter holding fell by 15pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales9679928999599469119621,0129769131,0751,1551,066
Expenses826846765813807771785837844779876965928
Operating Profit141145134146139140177175132134199190138
OPM %14.6%14.6%14.9%15.2%14.7%15.4%18.4%17.3%13.5%14.7%18.5%16.5%12.9%
Other Income21242920253917276745224236
Interest1111211111211
Depreciation28272629293132323332333432
Profit before tax134141135136134146161169164146187197140
Net Profit10010610110099109125127122108140146104
EPS (₹)8.769.298.868.808.749.5911.0211.1410.759.5112.3212.869.18

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 5 years + TTM
Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales2,5433,4443,8163,8314,1194,210
Expenses2,2912,9743,2493,1993,4623,548
Operating Profit253470567632657661
OPM %9.9%13.6%14.9%16.5%16.0%15.7%
Other Income386795108173144
Interest265655
Depreciation92105110124132131
Profit before tax196427546609693669
Net Profit142318406461517499
EPS (₹)12.4827.9135.7240.4945.4443.87

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital99999—
Reserves2,1052,4002,7813,2053,681—
Borrowings0006655—
Other Liabilities523613591505680—
Total Liabilities2,6373,0223,3823,7854,426—
Fixed Assets536587673736732—
CWIP2077846861—
Investments3981002530605—
Other Assets1,6832,2582,6002,9503,028—
Total Assets2,6373,0223,3823,7854,426—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity138298193286810
Cash from Investing Activity−177−270−131−227−696
Cash from Financing Activity−28−31−34−44−52
Net Cash Flow−68−3281562

Ratios

As of 31 Mar 2026
5 periods
Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %—19.021.020.019.0
ROE %————14.6
EPS (₹)12.4827.9135.7240.4945.44
Book Value (₹)————324.0
Face Value (₹)————5
P/E————46.9
Div Yield %————0.19
NPM %5.59.110.411.712.0
OPM %10.014.015.016.016.0
D/E0.000.000.000.020.01
P/B————6.4

Growth

As of 11 Oct 2026
Compounded sales growth
3 years+6.0%
TTM+9.0%
Compounded profit growth
3 years+17.0%
TTM+4.0%
Stock price CAGR
10 years+8.0%
5 years+12.0%
3 years−7.0%
Last year−6.0%
Return on equity
5 years13.0%
3 years15.0%
Last year15.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters75.00%75.00%75.00%75.00%75.00%80.43%75.00%75.00%75.00%63.16%60.00%60.00%
FIIs2.22%2.22%2.37%2.66%2.66%0.35%0.71%1.32%2.24%5.57%5.79%5.93%
DIIs9.00%9.00%9.33%9.54%8.84%11.22%16.45%16.05%15.77%23.32%26.21%25.45%
Government————————————
Public13.78%13.78%13.30%12.80%13.50%7.99%7.84%7.63%6.99%7.95%8.00%8.62%
No. of shareholders27,08827,08825,98926,82323,76222,84322,11425,38724,09433,90431,65741,406
Change since Jun 2023 (pp)
Promoters −15.00FIIs +3.71DIIs +16.45Public −5.16

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_OrderAnnouncement under Regulation 30 (LODR)-Press Release / Media ReleaseClosure of Trading WindowAnnouncement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating update
Concalls
Sep 2026PPTAug 2026TranscriptMay 2026TranscriptMay 2026PPTMay 2026RecordingFeb 2026TranscriptNov 2025TranscriptNov 2025Recording

Corporate actions

As of 10 Jul 2026
10 Jul 2026DIVIDENDDividend - Rs 4 Per Share—
24 Jun 2026BONUSBonus 5:1—
8 Aug 2025DIVIDENDDividend - Rs 19 Per Share—
15 Jul 2024DIVIDENDDividend - Rs 17 Per Share—
7 Jul 2023DIVIDENDDividend - Rs 13 Per Share—
7 Jul 2022DIVIDENDAnnual General Meeting/Dividend - Rs 12 Per Share—
16 Sep 2021DIVIDEND Dividend - Rs 11 Per Share—
26 Mar 2020DIVIDEND Interim Dividend- Rs 10 Per Share—
6 Aug 2019DIVIDEND Dividend - Rs 9 Per Share—
19 Jul 2018DIVIDEND Dividend- Rs 8 Per Share—
14 Sep 2017DIVIDEND Dividend - Rs 7/- Per Share—
25 Jul 2016DIVIDEND Dividend Rs.6/- Per Share—
27 Jul 2015DIVIDENDAnnual General Meeting / Dividend - Rs. 5/- Per Share—
17 Jul 2014DIVIDENDAnnual General Meeting And Dividend Rs.5/- Per Share—
17 Jul 2013DIVIDENDAnnual General Meeting And Dividend Rs.5/- Per Share—
18 Jul 2012DIVIDENDAnnual General Meeting And Dividend - Rs.5/- Per Share—
20 Jul 2011DIVIDENDAnnual General Meeting And Dividend Rs.5/- Per Share—
18 Aug 2010DIVIDENDDividend-Rs.2.50 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman