ZF Commercial Vehicle Control Systems India Limited — PPTs, 26-05-2025: Investor Presentation

1. Financial Highlights:

ZF Commercial Vehicle Control Systems India posted FY25 revenues of ₹3,939 Cr, up 0.8% YoY. EBITDA grew 11.8% to ₹739 Cr, while PAT increased 11.5% to ₹609 Cr, with a PAT margin of 18.2%. Q4 revenues stood at ₹1,516 Cr, maintaining EBITDA margins near 19%. The balance sheet supports ongoing investments in technology and capacity expansion.

2. Strategic Initiatives & Growth Drivers:

Capacity expansion continues with new plants and technology centers in Oragadam and Lucknow. Focus is on electrification (eCompressor Gen 2), ADAS, and digital fleet connectivity (SCALAR platform), targeting EV adoption exceeding 30% in buses by 2030. Technology upgrades also target light commercial vehicles, aligning with evolving market dynamics.

3. Business Developments:

New product launches include Pneumatic & Hydraulic ESC for buses and digital fleet orchestration tools. The company’s extensive aftermarket network (~12,000 outlets, 200+ service centers) supports retrofit safety and efficiency solutions. Investor visits highlighted lean manufacturing and sustainability initiatives at Oragadam.

4. Market Position & Competitive Advantage:

ZF CVCS is a trusted OEM partner with leadership in safety and electrification tech adapted for Indian conditions. It leverages strong cost competitiveness, a broad technology suite, and a vast service network, reinforcing its market scale and differentiation.

5. Investor Implications:

Robust margin expansion, solid cash flow, and sustained R&D investments underpin positive growth potential linked to EV and ADAS market growth. The light commercial vehicle segment expansion and new tech rollouts carry execution risk to monitor. The strong aftermarket business ensures stable recurring revenues.