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Z F Steering Gear (India)
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Z F Steering Gear (India) Management and History
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Company History
ZF Steering Gear (India) Limited was incorporated in January 21, 1981. The Company is engaged in production & assembling of steering systems for vehicles, buses and tractors. The Company has plant at Vadu Budruk, Near Pune and at Pithampur (Madhya Pradesh).
The company's steering gears find application in buses and are supplied to various state transport undertakings and also to heavy vehicles like dumper and haulage trucks. Buses fitted with power steering gears reduce the drivers' effort and fatigue to steer the vehicle and adds to their safety.
The original collaborators of the company, ZF Friedrichshfan AG, Germany (ZFG) formed a joint venture with Robert Bosch, GmbH(Bosch) and have established a separate company - ZF LENKSYSTEME GmbH (ZFLS) - which is jointly managed by ZF and Bosch and in which both these partners hold 50% stake each. The steering gear business of the partner has been transferred to this new joint venture company. Consequently, the investment in the shares of ZFGIL, held by ZFG, has been transferred to ZF Beteiligungsholding GmbH (ZFBG) which will be fully controlled by ZFLS, the joint venture company. The shares were transferred to ZFBG after necessary government approvals. Similarly, all rights and obligations of ZFG under the technical collaboration agreement with ZF India have been transferred to ZFLS.
During 1998-99, Company was awarded renewal of ISO 9001 Certificate for further period of 3 years.
During the year 2001-02, Company installed two windmills (0.35 MW each) at Vankusavade in Satara District ancl one windmill (1 MW) at Supa in Ahmednagar District, which generated 25 lac units of Power.
In 2004, the Collaborators. ZF Lenksysteme, Germany (ZFLS) had a subsidiary, ZF Beteiligungsgesellschaft (ZFBTL) which was holding 1,170,000 shares of ZF India. As a part of restructuring, ZFBTL merged with the holding company, ZFLS, and consequently, ZFLS held shares of ZF India.
The Company allotted 4,536,650 Equity shares as fully paid-up Bonus Shares in the ratio of one share for every share held (1:1) on September 5,2005 and as a result, the said Shares were listed at Bombay Stock Exchange. It expanded the installed capacity of Power Steering Gears from 150,000 to 240,000 per annum and of Mechanical Steering Gears from 100,000 to 120,000 per annum, during 2006-07, at a capital expenditure of approx. Rs. 70 million.
The Company expanded its installed capacity of Power Steering Gears from 240,000 to 270,000 per annum and of Mechanical Steering Gears from 120,000 to 140,000 per annum, during 2007-08, at a capital expenditure of approx. Rs. 80 million. It commissioned 5 MW Wind Turbine Machines in March 2010. By end of financial year 2010-11, the Company expanded its installed capacity of Power Steering Gears to 3 lac units per annum and Mechanical Steering Gears to 2 lac units per annum at its existing factory at Vadu Budruk.
The Company made substantial investment in the JV Company, ZF Lenksysteme India Private Limited. In February, 2012, additional capital, was raised by the JV Company and consequently, the paid-up capital of the JV Company stood at Rs. 819 million and Company held 26% of the total paid up capital of the JV Company. The JV Company set up its manufacturing plant at Village Phulgaon, Pune, to establish its manufacturing operations in steering systems and as a result, the said plant was inaugurated on April 26, 2012. A 5 MW Solar Power Project was commissioned in Patan District of Gujarat, which became operational in 2012-13.
During the year 2014, there was a change in the Shareholding/ Ownership pattern of ZF Lenksysteme, GmbH' (ZFLS), the foreign-promoter of Company. Previously, entire share capital of ZFLS was held between ZF Friedrichshafen AG and Robert Bosch GmbH in the ratio of 50:50. In January 2015, Robert Bosch GmbH agreed to buy the shares held by ZF Friedrichshafen AG in ZFLS and became 100% owner of ZFLS. Consequent upon this change, name of ZFLS was changed to Robert Bosch Automotive Steering GmbH'.
During year 2017-18, the Company commissioned rooftop solar project situated at Vadu Budruk plant. In April, 2022, the Company had incorporated two Wholly-Owned Subsidiaries, DriveSys Systems Private Limited and NexSteer Systems Private Limited.
Z F Steering Gear (India) Share Price
Z F Steering Gear (India) share price reflects investor sentiment toward the company and is impacted by various factors such as financial performance, market trends, and economic conditions. Share price is an indicator which shows the current value of the company's shares at which buyers or sellers can transact.
Z F Steering Gear (India) Market Cap
Market capitalization of Z F Steering Gear (India) indicates the total value of its outstanding shares. Marketcap is calculated by multiplying share price and outstanding shares of the company. It is a helpful metric for assessing the company's size and market Valuation. It also helps investors understand how Z F Steering Gear (India) is valued compared to its competitors.
Z F Steering Gear (India) PE Ratio
Z F Steering Gear (India) PE ratio helps investors understand what is the market value of each stock compared to Z F Steering Gear (India) 's earnings. A PE ratio higher than the average industry PE could indicate an overvaluation of the stock, whereas a lower PE compared to the average industry PE could indicate an undervaluation.
Z F Steering Gear (India) PEG Ratio
The PEG ratio of Z F Steering Gear (India) evaluates its PE ratio in relation to its growth rate. A PEG ratio of 1 indicates a fair value, a PEG ratio of less than 1 indicates undervaluation, and a PEG ratio of more than 1 indicates overvaluation.
Z F Steering Gear (India) ROE (Return on Equity)
Return on Equity (ROE) measures how effectively Z F Steering Gear (India) generates profit from shareholders' equity. A higher ROE of more than 20% indicates better financial performance in terms of profitability.
Z F Steering Gear (India) ROCE (Return on Capital Employed)
Return on Capital Employed (ROCE) evaluates the profitability of Z F Steering Gear (India) in relation to its capital employed. In simple terms, ROCE provides insight to investors as to how well the company is utilizing the capital deployed. A high ROCE of more than 20% shows that the business is making profitable use of its capital.
Z F Steering Gear (India) Total Debt
Total debt of Z F Steering Gear (India) shows how much the company owes to either banks or individual creditors. In simple terms, this is the amount the company has to repay. Total debt can be a very useful metric to show the financial health of the company. Total debt more than equity is considered to be a bad sign.
Z F Steering Gear (India) Debt to Equity Ratio
The Debt-to-Equity (DE) ratio of Z F Steering Gear (India) compares its total debt to shareholders' equity. A higher Debt to Equity ratio could indicate higher financial risk, while a lower ratio suggests that the company is managing its debt efficiently.
Z F Steering Gear (India) CAGR (Compound Annual Growth Rate)
CAGR shows the consistent growth rate of Z F Steering Gear (India) over a specific period, whether it is over a month, a year, or 10 years. It is a key metric to evaluate the company’s long-term growth potential. Main metrics for which CAGR is calculated are net sales, net profit, operating profit, and stock returns.
Z F Steering Gear (India) Technical Analysis
Technical analysis of Z F Steering Gear (India) helps investors get an insight into when they can enter or exit the stock. Key components of Z F Steering Gear (India) Technical Analysis include:
Support Levels (S1, S2, S3)
There are usually multiple support levels, but the main support levels for a stock are S1, S2, S3. Support levels indicate price points where stock might get support from buyers, helping the stock stop falling and rise.
Resistance Levels (R1, R2, R3)
There are usually multiple resistance levels, but the main resistance levels for a stock are R1, R2, R3. Resistance levels represent price points where Z F Steering Gear (India) shares often struggle to rise above due to selling pressure.
Z F Steering Gear (India) Dividends
Dividends refer to the portion of the company’s profits distributed to its shareholders. Dividends are typically paid out in cash and reflect Z F Steering Gear (India) ’s financial health and profitability.
Z F Steering Gear (India) Bonus Shares
Bonus shares are usually given by companies to make the stock more affordable, increase liquidity, boost investor confidence, and more.
Z F Steering Gear (India) Stock Split
Stock split increases the number of its outstanding shares by dividing each existing share into multiple shares. When the company offers a stock split, the face value of the stock reduces in the same proportion as the split ratio.
Z F Steering Gear (India) Financials
The financials of Z F Steering Gear (India) provide a complete view to investors about its net sales, net profit, operating profits, expenses, and overall financial health. Investors can analyze financial data to assess the company’s stability and also understand how the company has been growing financially.
Z F Steering Gear (India) Profit and Loss Statements
The profit and loss statement of Z F Steering Gear (India) highlights its net sales, net profit, total expenditure, and operating profits in the current financial year. This Profit and Loss statement is crucial for evaluating the profitability and financial stability of Z F Steering Gear (India) .
Z F Steering Gear (India) Balance Sheet
The balance sheet presents a snapshot of Z F Steering Gear (India) ’s assets, liabilities, and equity of shareholders, providing insights into the financials of the company.
Z F Steering Gear (India) Cashflow Statements
Cashflow statements track the company's cash inflows and outflows over a period. It is an essential tool for understanding how well the company manages its liquidity and finances.
SEBI REGISTERED RESEARCH ANALYST REGISTRATION NUMBER: INH000015729Disclaimer: "Investments in securities are subject to market risks. Read all the related documents carefully before investing." Receiving registration from SEBI and certification from NISM does not assure the performance of the intermediary or guarantee returns to investors in any manner. Compliance/Complaints Email: [email protected]
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