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BSE: 505163 | NSE: ZFSTEERING | Auto Ancillary | Small Cap
1. Is ZF Steering Gear (India) Ltd 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.
2. Is ZF Steering Gear (India) Ltd 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 Fair zone.
3. Is ZF Steering Gear (India) Ltd 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.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
Value Creation ⓘValue Creation Index Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | |||
| ROCE % ⓘ | 4.8% | 12.7% | 15.4% | 14.4% | 10.9% | 9.9% | 1% | -1.8% | 2% | 5.2% | - | ||
| Value Creation Index ⓘ | -0.7 | -0.1 | 0.1 | 0.0 | -0.2 | -0.3 | -0.9 | -1.1 | -0.9 | -0.6 | - | ||
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ |
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| Sales ⓘ | 291 | 330 | 381 | 399 | 425 | 439 | 287 | 201 | 313 | 450 | 461 | ||
| YoY Gr. Rt. % | - | 13.5% | 15.4% | 4.6% | 6.5% | 3.5% | -34.8% | -29.7% | 55.3% | 44% | - | ||
| Adj EPS ⓘ | 12.1 | 35 | 48.3 | 54.8 | 48.1 | 45.3 | 3.6 | -8 | 9.1 | 24.6 | 35.7 | ||
| YoY Gr. Rt. % | - | 190.1% | 38% | 13.4% | -12.2% | -5.8% | -92.1% | -321.7% | NA | 170.3% | - | ||
| BVPS (₹) ⓘ | 248.7 | 273.5 | 308.1 | 373.2 | 417.3 | 406 | 404.7 | 415.3 | 435.6 | 462.6 | 475.6 | ||
| Adj Net Profit ⓘ | 11 | 31.8 | 43.8 | 49.7 | 43.6 | 41.1 | 3.3 | -7.2 | 8.3 | 22.3 | 32 | ||
| Cash Flow from Ops. ⓘ | 25.8 | 48.2 | 66.7 | 62.6 | 67.5 | 72.7 | 74.9 | -26.3 | 15.2 | 50.5 | - | ||
| Debt/CF from Ops. ⓘ | 0.6 | 0.5 | 0.5 | 1 | 0.9 | 0.6 | 0 | -1.2 | 1.8 | 0.7 | - | ||
CAGR ⓘCAGR Colour Code Guide ⓘ |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 9 Years | 5 Years | 3 Years | 1 Years | |||||||||
| Sales ⓘ | 5% | 1.2% | 16.3% | 44% | ||||||||
| Adj EPS ⓘ | 8.2% | -12.5% | 89.8% | 170.3% | ||||||||
| BVPSⓘ | 7.1% | 2.1% | 4.6% | 6.2% | ||||||||
| Share Price | 13.3% | -3.9% | 34.5% | 36.9% | ||||||||
Key Financial Parameters ⓘPerformance Ratio Colour Code Guide ⓘ |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Mar'14 | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | TTM | ||
| Return on Equity % ⓘ | 4.9 | 13.4 | 16.6 | 16.1 | 12.2 | 11 | 0.9 | -2 | 2.1 | 5.5 | 7.6 | |
| Op. Profit Mgn % ⓘ | 20.2 | 17.5 | 20.7 | 20.6 | 20.9 | 17.7 | 13.7 | 9.2 | 13 | 12.6 | 12.2 | |
| Net Profit Mgn % ⓘ | 3.8 | 9.6 | 11.5 | 12.5 | 10.3 | 9.4 | 1.1 | -3.6 | 2.6 | 5 | 7 | |
| Debt to Equity ⓘ | 0.1 | 0.1 | 0.1 | 0.2 | 0.2 | 0.1 | 0 | 0.1 | 0.1 | 0.1 | - | |
| Working Cap Days ⓘ | 100 | 94 | 84 | 110 | 147 | 152 | 175 | 209 | 185 | 159 | 0 | |
| Cash Conv. Cycle ⓘ | 21 | 24 | 21 | 33 | 54 | 61 | 71 | 117 | 119 | 99 | 0 | |
Return on Equity has increased versus last 3 years average to 7.60%
Sales growth is growing at healthy rate in last 3 years 16.27%
Net Profit is growing at healthy rate in last 3 years 89.76%
Sales growth is good in last 4 quarters at 27.06%
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| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 35.7 | 34.6 |
| TTM Sales (₹ Cr.) | 461 | 461 |
| BVPS (₹.) ⓘ | 475.6 | 474.3 |
| Reserves (₹ Cr.) ⓘ | 422 | 421 |
| P/BV ⓘ | 1.58 | 1.58 |
| PE ⓘ | 21.03 | 21.67 |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 377.80 / 883.90 |
| All Time Low / High (₹) | 2.50 / 2118.00 |
| Market Cap (₹ Cr.) | 682 |
| Equity (₹ Cr.) | 9.1 |
| Face Value (₹) | 10 |
| Industry PE ⓘ | 44.9 |
| Pledged * | 13.89 | 13.89 | 6.54 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
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 :
Product range of the company includes:
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.
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MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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