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ZF Commercial Vehicle Control Systems India Limited
(ZFCVINDIA)
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Rating:64Neutral
Price Target:
₹2,246.00
▼(-2.34% Downside)
Action:Downgraded
Date:09/24/26
The score is primarily supported by strong fundamentals—especially the very low-debt balance sheet and solid profitability/revenue growth—tempered by margin volatility and historically uneven free cash flow. Technicals materially reduce the score due to a clear downtrend and bearish momentum, and valuation also weighs on the result given the high P/E and very low dividend yield.
Positive Factors
Revenue and Profit Growth
Sustained revenue expansion alongside a materially higher net margin indicates stronger earnings capacity across the business cycle. This combination can support reinvestment, improve resilience, and provide a durable foundation for further growth over the next several quarters.
Negative Factors
Margin Compression
Margin contraction while revenue continues to rise suggests that cost pressure, product mix, or other operating headwinds are reducing incremental profitability. Persistent compression would limit earnings growth, weaken operating leverage, and make future performance more dependent on sales expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Profit Growth
Sustained revenue expansion alongside a materially higher net margin indicates stronger earnings capacity across the business cycle. This combination can support reinvestment, improve resilience, and provide a durable foundation for further growth over the next several quarters.
Read all positive factors
ZF Commercial Vehicle Control Systems India Limited (ZFCVINDIA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹238.92B
Dividend Yield0.19%
Average Volume (3M)48.23K
Price to Earnings (P/E)47.8
Beta (1Y)0.73
Revenue Growth9.03%
EPS Growth3.22%
CountryIN
Employees2,491
SectorGeneral
Sector StrengthN/A
IndustryAuto - Parts
Share Statistics
EPS (TTM)43.87
Shares Outstanding113,805,504
10 Day Avg. Volume65,303
30 Day Avg. Volume48,226
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)50.33
Revenue Forecast (FY)₹46.54B
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 ...
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 | 42.10B | 41.19B | 37.94B | 37.84B | 34.16B | 25.22B |
| Gross Profit | 13.92B | 10.08B | 14.32B | 12.90B | 10.78B | 7.74B |
| EBITDA | 8.06B | 8.30B | 7.39B | 6.61B | 5.37B | 2.90B |
| Net Income | 4.99B | 5.17B | 4.61B | 4.06B | 3.18B | 1.42B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 44.25B | 37.85B | 33.82B | 30.22B | 26.37B |
| Cash, Cash Equivalents and Short-Term Investments | 22.30B | 22.30B | 14.96B | 13.20B | 12.65B | 10.62B |
| Total Debt | 0.00 | 548.23M | 660.83M | 684.36M | 653.45M | 38.86M |
| Total Liabilities | -36.91B | 7.35B | 5.71B | 5.91B | 6.13B | 5.23B |
| Stockholders Equity | 36.91B | 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
Negative
2299.85
Price Trends
2383.95
Negative
2422.19
Negative
2421.46
Negative
Market Momentum
-69.68
Negative
37.21
Neutral
61.46
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 2299.85 is above the 20-day moving average (MA) of 2174.95, below the 50-day MA of 2383.95, and below the 200-day MA of 2421.46, indicating a bearish trend. The MACD of -69.68 indicates Negative momentum. The RSI at 37.21 is Neutral, neither overbought nor oversold. The STOCH value of 61.46 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 |
|---|---|---|---|---|---|---|---|
76 Outperform | ₹549.27B | 73.29 | ― | 0.39% | 42.13% | 21.66% | |
70 Outperform | ₹323.95B | 33.34 | ― | 0.50% | 29.35% | 12.93% | |
69 Neutral | ₹1.42T | 59.44 | ― | 0.56% | 13.63% | -11.32% | |
64 Neutral | ₹238.92B | 47.81 | ― | 0.19% | 9.03% | 3.22% | |
63 Neutral | ₹1.70T | 38.63 | ― | 0.37% | 14.02% | 32.06% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
50 Neutral | ₹31.00B | 42.77 | ― | 0.67% | 16.79% | -4.03% |
* General Sector Average
IN:ZFCVINDIA
ZF Commercial Vehicle Control Systems India Limited
2,099.35
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-3.16%
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ZF Commercial Vehicle Control Systems India Limited Corporate Events
ZF Commercial Vehicle Control Systems India Files SEBI Compliance Certificate for September Quarter
Oct 5, 2026
ZF Commercial Vehicle Control Systems India Limited has submitted a confirmation certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate, issued by ...
ZF Commercial Vehicle Systems Wins Appeal in GST Input Tax Credit Dispute
Oct 2, 2026
ZF Commercial Vehicle Control Systems India Limited has received a favourable appellate order from the Office of the Commissioner (Appeals) in relation to a previously raised indirect tax demand. The decision overturns an earlier order by the Comm...
ZF CVCS India Wins NABL Accreditation for Advanced Vehicle NVH Lab
Sep 30, 2026
ZF Commercial Vehicle Control Systems India Limited, part of the ZF Group, operates a major proving ground near Chennai that supports testing and validation for commercial vehicles and other automotive platforms. The company specializes in advance...
ZF Commercial Vehicle Control Systems India Shares Investor Presentation with Exchanges
Sep 21, 2026
ZF Commercial Vehicle Control Systems India Limited has released the investor and analyst conference presentation associated with its previously announced meeting held on September 21, 2026. The disclosure, made under Regulation 30 of SEBI’s...
ZF Commercial Vehicle Control Systems India Posts Q1 FY27 Earnings Call Transcript Online
Aug 3, 2026
ZF Commercial Vehicle Control Systems India Limited notified stock exchanges that the transcript of its Q1 FY 2027 earnings conference call has been made available on the company’s website. The announcement follows earlier intimations about ...
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.