ZF Commercial Vehicle Control Systems India Limited — Investor Meet, 21-05-2026: Analysts/Institutional Investor Meet/Con. Call Updates

ZF Commercial Vehicle Control Systems India recorded its highest-ever Q4 revenue of INR 1,197 crores (+15.2% YoY) and full-year revenue of INR 4,302 crores (+9.2% YoY). PAT grew 15.5% in Q4 and 12.2% for FY26. A 5:1 bonus share issue and INR 4/share final dividend (post-bonus) were approved. Q4 margins were impacted by rising material costs (aluminum up ~18%) and salary hikes; FY27 margins are projected flattish. Domestic CV industry saw robust M&HCV growth (+16.5% FY26), with the company outperforming. Focus areas include ESC/ADAS penetration (full suite won from 2 OEMs), EV solutions, and managing geopolitical risks. Exports declined 11% in FY26, but the U.S. market shows early recovery signs. Company is confident in domestic growth drivers and product pipeline.