Company Overview
ZF Steering Gear (India) Limited reported its financial results for FY 2025-26 and announced details for its 46th Annual General Meeting. The company operates in the auto components sector with significant renewable energy initiatives.
Financial Performance
Standalone Results:
- Revenue from Operations: ₹556.74 crore (FY 2024-25: ₹492.86 crore)
- Profit Before Tax: ₹52.56 crore (FY 2024-25: ₹50.44 crore)
- Net Profit: ₹31.78 crore (FY 2024-25: ₹33.89 crore)
- Earnings Per Share: ₹35.03 (FY 2024-25: ₹37.35)
- Total Equity: ₹521.74 crore (FY 2024-25: ₹489.86 crore)
Consolidated Performance:
- Revenue: ₹580.90 crore (FY 2024-25: ₹514.60 crore)
- Profit After Tax: ₹12.00 crore (FY 2024-25: ₹12.60 crore)
Key Financial Ratios:
- Current Ratio: 1.60
- Debt-Equity Ratio: 0.09
- Inventory Turnover Ratio: 9.12 times
- Net Profit Ratio: 5.7%
AGM Details and Corporate Actions
AGM Scheduled: July 27, 2026 at 10:00 AM via Video Conferencing
Special Business Items:
- Reappointment of Mr. Dinesh Munot as Chairman with proposed remuneration of ₹8.62 crore
- Reappointment of Mr. Utkarsh Munot as Managing Director with proposed remuneration of ₹5.90 crore
- Approval of material related party transactions up to ₹100 crore with Supreme Group entities
- Approval of transactions between subsidiaries DriveSys and Metacast up to ₹100 crore
Dividend: No dividend declared for FY 2025-26 to conserve resources for subsidiary expansion projects
Subsidiary Performance
DriveSys Systems Private Limited (Wholly-owned):
- Turnover: ₹88.88 crore
- Loss: ₹9.01 crore
- Investment: Equity ₹8 crore + Loans ₹167.36 crore
- Projects: Aluminum division (₹100 crore) and Electrical division (₹12 crore)
Metacast Auto Private Limited (51% Subsidiary):
- Turnover: ₹59.05 crore (all sales to DriveSys)
- Loss: ₹6.83 crore
- Casting Capacity: 10,000 metric tonnes p.a. (74% utilization)
Contingent Liabilities and Legal Matters
- Tax disputes: ₹41.68 crore
- Corporate guarantees for subsidiaries: ₹34.67 crore
- ZF Friedrichshafen AG trademark infringement suit: ₹200 crore damages claimed
- Pune Mathadi Board dispute: ₹57.60 lakhs directed payment
Shareholding and Corporate Structure
- Promoter Holding: 62.75% (56,93,679 shares)
- Key Promoters: Utkarsh Munot (28.56%), Dinesh Munot (20.82%)
- Credit Rating: ICRA [A+] for long-term with 'Stable' outlook
Renewable Energy Initiatives
- Solar Power: 5 MW plant generated 65 lakh units (₹4.4 crore revenue)
- Wind Energy: 8.10 MW capacity generated 94 lakh units (70% captively consumed)
The company maintains stable financial position while focusing on subsidiary expansion and managing ongoing legal disputes, with key shareholder approvals sought at the upcoming AGM for leadership reappointments and related party transactions.