ZF Commercial Vehicle Control Systems India LimitedQ1 FY27 Results & Financial Update
ZF Commercial Vehicle Control Systems India Limited: Q1 FY27 consolidated results and company financials – revenue ₹1,066.18 Cr, PAT ₹104.48 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore ZF Commercial Vehicle Control Systems India Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
ZF Commercial Vehicle Control Systems India Limited announced its financial results for the first quarter of fiscal year 2027, covering the period ended June 30, 2026. The consolidated statements reflect total income of INR 1,101.80 crore and revenue from operations of INR 1,066.18 crore for the quarter.
Profit before tax for the quarter stood at INR 140.05 crore, while profit after tax was reported at INR 104.48 crore. Basic and diluted earnings per share for the quarter were recorded at INR 9.18, reflecting the expanded share capital base following recent corporate actions.
Total expenses for the quarter aggregated to INR 961.75 crore. The primary cost component remained the cost of materials consumed at INR 638.08 crore, alongside employee benefit expenses of INR 170.20 crore and other expenses of INR 124.87 crore.
Other income contributed INR 35.63 crore to the total income pool, supplementing core operational inflows during the period under review.
Depreciation and amortisation expenses for the quarter reached INR 32.28 crore, while finance costs stood at a modest INR 1.20 crore.
Tax expenses for the quarter were computed at INR 35.57 crore, comprising current tax of INR 36.94 crore offset by a deferred tax credit of INR 1.37 crore.
Profit before tax was ₹140.05 Cr for the reported quarter. EPS was ₹9.18 for the reported quarter.
01 · Business model
What does ZF Commercial Vehicle Control Systems India do?
ZF Commercial Vehicle Control Systems India Limited operates as a premier provider of advanced braking systems, safety technologies, and commercial vehicle control systems. The company serves major commercial vehicle manufacturers in the domestic market and handles various export engagements.
The operational footprint covers manufacturing plants including facilities located in Ambattur, Chennai, where the company builds sophisticated automotive components and allied sub-assemblies tailored for heavy commercial trucks and buses.
The consolidated operations comprise the parent company alongside its subsidiary, ZF CV Control Systems Manufacturing India Private Limited, functioning as an integrated manufacturing and distribution network.
02 · Historical context
What shaped the business before this quarter
Previously on May 13, 2026, the Board of Directors recommended issuing bonus shares in the ratio of 5:1 (five equity shares of Rs. 5 each for every one fully paid-up equity share), which was approved by shareholders via postal ballot on June 17, 2026, and allotted 9,48,37,920 equity shares on June 25, 2026.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹1,066.18 Cr |
| Total income | ₹1,101.80 Cr |
| Profit before tax | ₹140.05 Cr |
| Profit after tax | ₹104.48 Cr |
| EPS | ₹9.18 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 9.8% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 13.1% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹35.63 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
The group operates within a single primary segment, automotive components and allied services, generating consolidated revenue from operations of INR 1,066.18 crore during the quarter.
Sale of products accounted for INR 931.49 crore, while sale and rendering of services contributed INR 127.72 crore, with other operating revenue bringing in INR 6.96 crore.
What drove margins
Cost of materials consumed represented the largest expenditure item at INR 638.08 crore, with inventories of finished goods and work-in-progress showing a minor inventory draw of INR 4.88 crore.
Employee benefit expenses stood at INR 170.20 crore, reflecting workforce commitments, while other operating expenses were recorded at INR 124.87 crore.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company maintains a single reportable operating segment categorized as 'automotive components and allied services', capturing all segment revenues, results, and assets under this unified classification.
06 · Reported developments
What changed operationally
Independent auditors B S R & Co. LLP issued an unqualified limited review report on both standalone and consolidated financial results for the quarter.
07 · Beyond the numbers
What changed beyond the numbers
Reported update
CFO Appointment
The board appointed Mr. Rakesh Mishra as the Chief Financial Officer and Key Managerial Personnel of the company, effective September 1, 2026.
Reported update
Company Secretary and Compliance Officer Transition
Ms. C V Kavviya was appointed as the Whole-Time Company Secretary and Compliance Officer effective July 25, 2026, following her interim tenure.
08 · Key Q&A
The quarter, answered directly
What does ZF Commercial Vehicle Control Systems India do?
ZF Commercial Vehicle Control Systems India Limited operates as a premier provider of advanced braking systems, safety technologies, and commercial vehicle control systems. The company serves major commercial vehicle manufacturers in the domestic market and handles various export engagements.
What is the clearest takeaway from Q1 FY27?
ZF Commercial Vehicle Control Systems India Limited announced its financial results for the first quarter of fiscal year 2027, covering the period ended June 30, 2026. The consolidated statements reflect total income of INR 1,101.80 crore and revenue from operations of INR 1,066.18 crore for the quarter.
What drove revenue or demand?
The group operates within a single primary segment, automotive components and allied services, generating consolidated revenue from operations of INR 1,066.18 crore during the quarter.
What mattered most for margins or profitability?
Cost of materials consumed represented the largest expenditure item at INR 638.08 crore, with inventories of finished goods and work-in-progress showing a minor inventory draw of INR 4.88 crore.
What changed operationally beyond the headline numbers?
The board appointed Mr. Rakesh Mishra as the Chief Financial Officer and Key Managerial Personnel of the company, effective September 1, 2026.
What should the next disclosure help confirm?
Assume monitoring of executive leadership transition with Mr. Rakesh Mishra assuming office as Chief Financial Officer on September 1, 2026.
09 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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10 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
CFO Transition: Assume monitoring of executive leadership transition with Mr. Rakesh Mishra assuming office as Chief Financial Officer on September 1, 2026.
- 02
Regulatory and Labour Code Developments: Track further notifications, central rules, and administrative clarifications regarding the implementation of the four new labour codes.
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