ZF Commercial Vehicle Control Systems India Ltd (ZF Commercial Vehicle), a subsidiary of ZF Friedrichshafen AG, is a manufacturer of air-assisted and air brake systems for commercial vehicles. ZF COMMERCIAL VEHICLE CONTROL SYSTEMS INDIA is a 21-year-old company with a registered office in Chennai, Tamil Nadu. The company was originally incorporated on November 18, 2004, as a Public Limited Company with the name 'Auto (India) Engineering Limited'. Thereafter, the name of the Company was changed to Wabco India Limited on August 2, 2011. Effective from March 7, 2022, the name of the Company was further changed from Wabco India Limited to its current name.
Headquartered in Chennai, Tamil Nadu, ZF Commercial Vehicle Control Systems India Ltd has five manufacturing facilities, an advanced technology development center, a vehicle testing facility, and a nationwide aftermarket distribution and services network. The company operates as part of ZF Group's Commercial Vehicle Control Systems division and serves as a key player in India's commercial vehicle safety and technology market.
Operating under the ZF WABCO brand and part of ZF Group Commercial Vehicle Control Systems Division, WABCO INDIA Limited is India's market leader for advanced braking systems, conventional braking products, and related air assisted technologies and systems in India. The Company manufactures and markets braking products and systems for Trucks, Buses, Off-Highway, Defense, Cars, and Fleets.
The company's comprehensive product range includes e-mobility technologies like e-compressors, Electronic Braking Systems, Electronic Stability Control, and Electronically Controlled Air Suspension. Additionally, it provides spare parts, after-sale services, digital services, retrofit solutions, workshop solutions, and professional training and consulting. The company has introduced new products such as doors with door control systems, air suspension systems, and air disc brakes.
The company has five manufacturing facilities located in Ambattur, Chennai; Kharsawan, Jharkhand; Kancheepuram, Tamil Nadu; Lucknow, Uttar Pradesh; and Pantnagar, Uttarakhand, India. These strategically located facilities enable the company to serve customers across India efficiently while maintaining high-quality production standards.
Net profit of ZF Commercial Vehicle Control System India rose 26.47% to ₹126.72 Crore in the quarter ended March 2025, as against ₹100.20 Crore during the previous quarter ended March 2024. Sales rose 5.55% to ₹1,011.88 Crore in the quarter ended March 2025, as against ₹958.64 Crore during the previous quarter ended March 2024.
For the full year performance:
* Net profit rose 13.35% to ₹460.73 Crore in the year ended March 2025, as against ₹406.45 Crore during the previous year ended March 2024.
* Sales rose 0.40% to ₹3,830.96 Crore in the year ended March 2025, as against ₹3,815.65 Crore during the previous year ended March 2024.
* Revenue: ₹1,011.88 Crore as on March 2025 (Q1 2025)
* Net Profit: ₹126.72 Crore as on March 2025 (Q1 2025)
* Market Cap: ₹25,042 Crore (down -16.4% in 1 year)
* P/E Ratio: 57.4 as on May 13, 2025
* P/B Ratio: 8.4 as on May 13, 2025
Promoter holding in ZF Commercial Vehicle Control System India Ltd has gone down to 63.16% as of March 2025 from 67.49% as of June 2024. The company maintains strong corporate governance practices with regular stakeholder engagement and transparent reporting.
In Q4 FY 2024-25, the company achieved record revenues of ₹1,039 Crore, driven by strong domestic sales and a notable 15% year-on-year growth in service income, reflecting robust demand for engineering solutions. The company is strategically enhancing its market position through innovative initiatives in e-mobility and advanced driver assistance systems, aligning with upcoming regulatory changes.
Anand Rathi maintains a 'Buy' rating on ZF Commercial Vehicles with a target price of ₹16,000. The company expects strong growth driven by government regulations and a healthy CAGR in India's CV sector.
A commitment to sustainability is evident in significant CO2 reductions and energy efficiency improvements, positioning the company favorably for future growth amidst evolving market dynamics. Corporate Social Responsibility is at the heart of the ZF Commercial Vehicle Control Systems India's commitment to positively engage with its stakeholders and to operate in a socially and environmentally sustainable manner. At ZF Commercial Vehicle Control Systems India, CSR is viewed as a powerful opportunity to help create a positive impact for the future by working together with communities, Governments and local bodies to deliver qualitative social improvement.
While the Indian economy is projected to grow at 6.5%, challenges such as global trade uncertainties and a decline in the Commercial Vehicle segment due to production issues persist. However, the company's focus on innovation and strategic positioning in emerging technologies provides a strong foundation for future growth in India's evolving commercial vehicle market.
