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

ZF Steering Gear (India) Ltd share price has declined -7.8% annually (CAGR) over the past ten years.

What is the share price of ZF Steering Gear (India) Ltd (ZFSTEERING)?

Company share prices are keep on changing according to the market conditions. The current trading price of ZF Steering Gear (India) Ltd (ZFSTEERING) on 04-Jun-2026 16:59:59 at 16:59 is 646.00.

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

The latest standalone P/E ratio of ZF Steering Gear (India) as of 04-Jun-2026 is 18.44.

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

The latest standalone P/B ratio of ZF Steering Gear (India) Ltd (ZFSTEERING) as of 04-Jun-2026 is 1.12.

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

The 52-week high of ZF Steering Gear (India) Ltd (ZFSTEERING) is Rs. 1319.85 and the 52-week low is Rs. 570.10.

ZF Steering Gear (India) Ltd (ZFSTEERING) Share Analysis – Cycle Position, Quality & Valuation Zone & DeciZen Rating

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

Key Metrics

Valuation Multiples

Market Cap

₹586 Cr.

Current Price

₹646

52-Week Low / High

₹570 / 1,320

TTM EPS

₹35

TTM Sales

₹557 Cr.

Book Value per Share

₹575

P/E Ratio

18.44

Lower than its 5-year historical median

Industry PE

42.9

Price to Book (P/B)

1.12

Lower than its 5-year historical median

Price to Sales (P/S)

1.05

Lower than its 5-year historical median

EV/EBITDA

7.27

Lower than its 5-year historical median

Dividend Yield

0.00%

Profitability Efficiency

Return on Equity (ROE)

7.11%

Underperforms industry median

Return on Capital Employed (ROCE)

10.45%

Underperforms industry median

Return on Assets (ROA)

5.96%

Operating Profit Margin

11.5%

Net Profit Margin

6.88%

Gross Profit Margin

16.6%

Growth Momentum
1-yr vs 3-yr growth

Sales Growth (1 Year)

Slowing versus 3-year growth rate

3.14%

Operating Profit Growth (1 Year)

Slowing versus 3-year growth rate

7.49%

Net Profit Growth (1 Year)

Slowing versus 3-year growth rate

-28.98%

Asset Quality

Promoter Holding

62.75%

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

0.00%

Reserves

₹513 Cr.

Equity

₹9.1 Cr.

Face Value

₹10

All Time Low / High

₹2.50 / 2118.00

ZF Steering Gear (India) stock performance

Key Ratios

Check Before You Invest

Quality

Locked

Valuation

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Price Trend

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Q.1 Is ZF Steering Gear (India) Ltd a good quality company?

ZF Steering Gear (India) Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.

How does ZF Steering Gear (India) Ltd performance compare with that of its Peers?

Q.1 Revenue growth of ZF Steering Gear (India) Ltd vs industry peers?

ZF Steering Gear (India) Ltd revenue CAGR is 11.45%, compared to the industry median CAGR of 11.89%, indicating stable growth and maintaining its market share.

Q.1 Promoter shareholding and pledge status of ZF Steering Gear (India) Ltd?

Promoters hold 62.75% of the ZF Steering Gear (India) Ltd, with 0.00% of their stake pledged, indicating no pledge risk.

Q.1 Stock return of ZF Steering Gear (India) Ltd over the last decade?

Over the last 9 year(s), the stock has delivered a CAGR of -6.7% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

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

Value Creation ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	20.5%	18.4%	15.3%	-2.8%	1%	1.8%	7.3%	8.6%	12%	10.5%	-
Value Creation Index ⓘ	0.5	0.3	0.1	-1.2	-0.9	-0.9	-0.5	-0.4	-0.1	-0.3	-
Growth Parameters ⓘ
Sales ⓘ	381	399	425	439	287	201	313	450	478	493	557
Sales YoY Gr.	-	4.6%	6.5%	3.5%	-34.8%	-29.7%	55.3%	44%	6.1%	3.1%	-
Adj EPS ⓘ	48.3	54.8	48.1	45.3	3.6	-8	9.1	24.6	32.4	27.3	35
YoY Gr.	-	13.4%	-12.2%	-5.8%	-92.1%	-321.7%	NA	170.3%	31.7%	-15.7%	-
BVPS (₹) ⓘ	308.1	373.2	417.3	406	404.7	415.3	435.6	462.6	510.6	540.1	575
Adj Net Profit ⓘ	43.8	49.7	43.6	41.1	3.3	-7.2	8.3	22.3	29.4	24.8	32
Cash Flow from Ops. ⓘ	66.7	62.6	67.5	72.7	74.9	-26.3	15.2	50.5	42.7	58.9	-
Debt/CF from Ops. ⓘ	0.5	1	0.9	0.6	0	-1.2	1.8	0.7	0.7	0.6	-

CAGR ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	2.9%	11.5%	16.4%	3.1%
Adj EPS ⓘ	-6.1%	50%	44.2%	-15.7%
BVPSⓘ	6.4%	5.9%	7.4%	5.8%
Share Price	-7.8%	4.6%	2.2%	-44.6%

Key Financial Parameters ⓘ

	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	16.6	16.1	12.2	11	0.9	-2	2.1	5.5	6.7	5.2	6.3
Op. Profit Mgn % ⓘ	20.7	20.6	20.9	17.7	13.7	9.2	13	12.6	11.1	11.5	11.2
Net Profit Mgn % ⓘ	11.5	12.5	10.3	9.4	1.1	-3.6	2.6	5	6.2	5	5.7
Debt to Equity ⓘ	0.1	0.2	0.2	0.1	0	0.1	0.1	0.1	0.1	0.1	0
Working Cap Days ⓘ	84	110	147	152	175	209	185	154	169	199	56
Cash Conv. Cycle ⓘ	21	33	54	61	71	117	119	99	99	95	24

Profit And Loss

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Sales	381	399	425	439	287	201	313	450	478	493
Operating Expenses ⓘ +	303	317	336	364	321	183	272	394	425	436
Manufacturing Costs	24	24	24	25	18	16	21	29	32	32
Material Costs	222	231	246	269	172	117	188	289	306	314
Employee Cost	43	45	49	51	44	40	47	56	64	66
Other Costs ⓘ	14	17	17	19	87	10	16	21	23	25
Operating Profit ⓘ	78	82	88	75	-34	18	41	56	53	57
Operating Profit Margin (%)	20.6%	20.5%	20.8%	17.1%	-11.8%	9.1%	13.0%	12.5%	11.0%	11.5%
Other Income ⓘ +	6	12	10	11	4	26	21	14	38	28
Exceptional Items ⓘ	0	0	0	-67	67	0	0	0	0	0
Interest ⓘ	2	2	3	2	1	0	0	1	1	3
Depreciation ⓘ	25	28	33	31	32	38	31	32	33	31
Profit Before Tax ⓘ	58	63	61	-14	3	7	30	37	56	50
Tax ⓘ	13	13	14	-12	3	-2	12	12	8	17
Profit After Tax	45	50	47	-1	-0	9	18	25	48	34
PAT Margin (%)	11.8%	12.5%	11.1%	-0.3%	-0.1%	4.4%	5.8%	5.7%	10.0%	6.9%
Adjusted EPS (₹)	49.7	54.8	51.9	-1.4	-0.3	9.8	20.1	28.1	52.6	37.4
Dividend Payout Ratio (%)	25.20%	14.60%	15.40%	0%	0%	0%	0%	17.80%	15.20%	0%

Valuation of ZF Steering Gear (I) - Standalone

YTD 1Y 3Y 5Y 10Y Max

Analyst's Notes

No data found!

Balance Sheet

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	280	339	379	368	367	377	395	420	463	490
Share Capital ⓘ	9	9	9	9	9	9	9	9	9	9
Reserves ⓘ	270	329	370	359	358	368	386	411	454	481
Debt +	33	57	57	34	1	31	27	36	29	38
Long Term Debt	8	16	15	21	1	0	0	0	0	0
Short Term Debt	25	41	42	13	0	30	27	36	29	38
Minority Interest	0	0	0	0	0	0	0	0	0	0
Trade Payables	40	45	51	38	34	30	28	35	32	43
Others Liabilities ⓘ	23	39	41	35	11	5	15	10	14	29
Total Liabilities ⓘ	375	479	527	475	413	443	465	501	538	599
Fixed Assets
Net Fixed Assets ⓘ +	106	120	105	111	199	175	159	144	135	132
Gross Block	298	148	166	202	321	334	344	352	369	373
Accumulated Depreciation	192	28	61	91	122	159	185	208	233	242
CWIP ⓘ	1	0	1	26	7	2	2	2	4	2
Investments ⓘ	165	191	232	152	107	120	119	155	142	169
Inventories	23	39	40	40	23	38	58	58	66	62
Trade Receivables	55	76	92	77	49	78	90	107	98	112
Cash Equivalents	2	2	5	6	6	10	5	1	13	1
Others Assets ⓘ	24	51	53	63	23	20	33	34	80	122
Total Assets ⓘ	375	479	527	475	413	443	465	501	538	599

Cash Flow

(All Figures are in Crores.)

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	67	63	68	73	75	-26	15	51	43	59
PBT ⓘ	58	63	61	53	-64	7	30	37	56	50
Adjustment ⓘ	23	21	28	26	104	14	17	27	4	14
Changes in Working Capital ⓘ	1	-6	-6	6	38	-46	-27	-7	-8	2
Tax Paid ⓘ	-15	-16	-16	-13	-4	-0	-5	-7	-10	-7
Cash Flow From Investing Activity ⓘ +	-54	-47	-55	-43	-29	1	-16	-62	-17	-70
Capex	-30	-42	-22	-62	-69	-10	-33	-19	-22	-22
Net Investments	-25	-6	-35	19	40	10	16	-24	36	-8
Others ⓘ	1	1	3	1	1	1	1	-19	-32	-39
Cash Flow From Financing Activity ⓘ +	-14	-16	-10	-28	-44	26	-3	10	-13	-1
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 ⓘ	-2	-2	-3	-2	-3	-0	-0	-1	-1	-3
Dividend Paid ⓘ	-24	-0	-9	-9	-0	-0	-0	0	-5	-7
Others ⓘ	12	-13	1	-17	-41	27	-3	10	-7	9
Net Cash Flow ⓘ	-1	-0	2	2	2	1	-4	-2	13	-12

Financial Ratio

PARTICULARS	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	17.08	16.09	13.13	-0.35	-0.08	2.38	4.73	6.25	10.81	7.11
ROCE (%)	20.52	18.36	15.32	-2.75	1.04	1.81	7.27	8.63	12.02	10.45
Asset Turnover Ratio	1.2	1.05	0.87	0.88	0.64	0.47	0.69	0.93	0.92	0.87
PAT to CFO Conversion(x)	1.49	1.26	1.45	N/A	N/A	-2.89	0.83	2.04	0.9	1.74
Working Capital Days
Receivable Days	46	53.80	70.60	70.40	80.40	115.50	98.40	80	78.20	77.60
Inventory Days	20.50	25.40	33	33.20	40.50	55.10	55.50	46.90	47.60	47.60
Payable Days	65	66.50	70.80	60.80	76.70	99.70	56.40	40	40.10	43.30

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

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

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

ZF Steering Gear (India) Ltd FAQs

The current trading price of ZF Steering Gear (I) on 04-Jun-2026 16:59 is ₹646.0.

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 03-Jun-2026 the market cap of ZF Steering Gear (I) stood at ₹586.1 Cr

The latest P/E ratio of ZF Steering Gear (I) as of 03-Jun-2026 is 18.44.

The latest P/B ratio of ZF Steering Gear (I) as of 03-Jun-2026 is 1.12.

The 52-week high of ZF Steering Gear (I) is ₹1,319.9 and the 52-week low is ₹570.1.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of ZF Steering Gear (I) is ₹557 ( Cr.) .

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

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 Undervalued zone.

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.

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.

ZF Steering Gear (India) Ltd (ZFSTEERING)

ZF Steering Gear (India) Ltd (ZFSTEERING)

ZF Steering Gear (India) stock performance

Check Before You Invest

Quality

Valuation

Price Trend

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Value Creation ⓘ

Growth Parameters ⓘ

CAGR ⓘ

Key Financial Parameters ⓘ

Profit And Loss

Valuation of ZF Steering Gear (I) - Standalone

Price Calculator

Price Chart

Price to Earnings

Price to Sales

Price to Book

EV to EBITDA

Dividend History

Analyst's Notes

Balance Sheet

Equity and Liabilities

Fixed Assets

Cash Flow

Financial Ratio

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

ZF Steering Gear (India) Ltd FAQs

About ZF Steering Gear (India) Ltd

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ZF Steering Gear (India) Ltd (ZFSTEERING)

ZF Steering Gear (India) Ltd (ZFSTEERING)

ZF Steering Gear (India) stock performance

Check Before You Invest

Quality

Valuation

Price Trend

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Value Creation ⓘ

Growth Parameters ⓘ

CAGR ⓘ

Key Financial Parameters ⓘ

Profit And Loss

Valuation of ZF Steering Gear (I) - Standalone

Price Calculator

Price Chart

Price to Earnings

Price to Sales

Price to Book

EV to EBITDA

Dividend History

Price Calculator

Price Chart

Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

Balance Sheet

Equity and Liabilities

Fixed Assets

Cash Flow

Financial Ratio

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

ZF Steering Gear (India) Ltd FAQs

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

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

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

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

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

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

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

Is ZF Steering Gear (India) Ltd undervalued or overvalued?

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

About ZF Steering Gear (India) Ltd

About MoneyWorks4Me

Our Vision

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.