ZF Steering Gear India505163Quarterly results
Board approves unaudited Q2 and H1 results; auditors' review conclusion unmodified
Board of ZF Steering Gear (India) met on November 3, 2026 and approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 184.49 | 120.56 | +53% | 143.06 | +29% |
| Total income | 189.18 | 121.51 | +55.7% | 157.85 | +19.8% |
| Profit before tax | 17.55 | 0.10 | — | 15.69 | +11.9% |
| Profit after tax | 11.74 | (1.50) | — | 11.42 | +2.8% |
| Total comprehensive income | 11.89 | (1.28) | — | 11.43 | +4% |
| Basic EPS | 12.74 | (0.43) | — | 13.63 | −6.5% |
- Total income
- Latest 189.18; Year ago 121.51 (+55.7%); Prev qtr 157.85 (+19.8%)
- Profit after tax
- Latest 11.74; Year ago (1.50); Prev qtr 11.42 (+2.8%)
- Period
- 30-Sep-26
Auditor's review
Conclusion: Unmodified
Notes to the results
- Delhi Income Tax Tribunal order dated 03.09.2026 allowed the Company's 80-IA/80-IB deduction claims for AY 1995-96 to AY 2004-05; Company entitled to tax refund of Rs. 8.20 crores plus applicable interest (standalone note).
What the board approved
- The board, at its meeting on November 3, 2026, considered and approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026.
- The statutory auditors, Joshi Apte & Co., issued Limited Review Reports on these results. For the standalone results the auditors stated that nothing came to their attention causing them to believe the statement contains any material misstatement; the conclusion is described as unmodified. A limited review gives less assurance than a full audit.
Results snapshot (standalone, Rs. in crore)
- 'Revenue from operations' for the quarter ended 30-Sep-26 was Rs. 175.47 crore, against Rs. 116.41 crore in the quarter ended 30-Sep-25.
- 'Total Income' for the quarter was Rs. 184.25 crore, which includes other income of Rs. 8.78 crore.
- 'Total Expenses' for the quarter were Rs. 161.48 crore, of which cost of materials consumed was Rs. 116.89 crore and employee benefit expenses Rs. 18.71 crore.
- 'Profit before tax' was Rs. 22.77 crore and 'Net Profit after tax' was Rs. 16.88 crore, against Rs. 4.14 crore in the same quarter a year earlier.
- For the half year, 'Revenue from operations' was Rs. 313.25 crore and 'Net Profit after tax' was Rs. 35.40 crore, against Rs. 247.34 crore and Rs. 16.09 crore respectively in the same half of the previous year.
- Basic and diluted 'Earnings per share' (face value Rs. 10 each) was Rs. 18.61 for the quarter and Rs. 39.02 for the half year.
Segment view (standalone)
- The company reports two segments, Automotive Components and Renewable Energy.
- For the quarter, Auto Components segment revenue was Rs. 174.56 crore and Renewable Energy Rs. 4.44 crore; unallocable revenue was Rs. 8.63 crore.
- Segment results for the quarter: Auto Components Rs. 16.32 crore, Renewable Energy Rs. 3.40 crore.
Tax refund note in the results
- The Delhi Income Tax Tribunal, by order dated 03.09.2026, disposed of the appeals and allowed the company's claim for deduction under Sections 80-IA and 80-IB of the Income-tax Act, 1961 for assessment years 1995-96 to 2004-05, a period of 10 years.
- The company has applied to the Assessing Officer for consequential orders for each assessment year. It states it would be entitled to a tax refund of Rs. 8.20 crores plus applicable interest, as the tax demand had already been discharged earlier.
Balance sheet and cash (standalone)
- Total assets were Rs. 711.43 crore as at 30 September 2026, against Rs. 631.40 crore as at 31 March 2026.
- Total equity was Rs. 557.27 crore; total liabilities Rs. 154.16 crore, including current borrowings of Rs. 84.17 crore.
- Cash and cash equivalents were Rs. 8.64 crore as at 30 September 2026.
- Net cash generated from operating activities for the half year was Rs. 6.01 crore.
How to read this
- The update is a routine quarterly disclosure: results plus the auditors' limited review. The review conclusion is unmodified, which means the auditors did not flag a qualification.
- The results present the quarter and half year alongside the same periods a year earlier, so year-on-year comparison is possible for revenue, expenses, profit and earnings per share.
- The tax refund note describes an entitlement the company says arises from a tribunal order; the company has applied for consequential orders giving effect to it.
184.49 (Rs. In Crores)Revenue from operations, latest quarter
Revenue from operations, quarter143.06 (Rs. In Crores)
Profit before tax, latest quarter17.55 (Rs. In Crores)
Total comprehensive income, latest quarter11.89 (Rs. In Crores)
Profit after tax, latest quarter11.74 (Rs. In Crores)
Also from ZF Steering Gear India
Board meeting on November 3, 2026 to approve unaudited results for September quarter and half year
27 Oct 2026
More numbers
- Revenue from operations, standalone, quarter ended 30-Sep-26175.47
- Total Income, standalone, quarter ended 30-Sep-26184.25
- Profit before tax, standalone, quarter ended 30-Sep-2622.77
- Net Profit after tax, standalone, quarter ended 30-Sep-2616.88
- Net Profit after tax, standalone, half year ended 30-Sep-2635.40
- Revenue from operations, standalone, half year ended 30-Sep-26313.25
- Tax refund entitled plus applicable interestRs. 8.20 crores
- Basic earnings per share, standalone, quarter18.61
- Total income, latest quarter189.18 (Rs. In Crores)
- Total income, year-ago quarter121.51 (Rs. In Crores)
- Total income, previous quarter157.85 (Rs. In Crores)
- Total comprehensive income, latest quarter11.89 (Rs. In Crores)
- Total comprehensive income, year-ago quarter(1.28) (Rs. In Crores)
- Total comprehensive income, previous quarter11.43 (Rs. In Crores)
- Profit after tax, latest quarter11.74 (Rs. In Crores)
- Profit after tax, year-ago quarter(1.50) (Rs. In Crores)
- Profit after tax, previous quarter11.42 (Rs. In Crores)
- Revenue from operations, latest quarter184.49 (Rs. In Crores)
- Revenue from operations, year-ago quarter120.56 (Rs. In Crores)
- Revenue from operations, previous quarter143.06 (Rs. In Crores)
- Profit before tax, latest quarter17.55 (Rs. In Crores)
- Profit before tax, year-ago quarter0.10 (Rs. In Crores)
- Profit before tax, previous quarter15.69 (Rs. In Crores)
Source: BSE · 3 Nov 2026
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