ZF Commercial Vehicle Control Systems India (ZFCVINDIA) Q4 24/25 earnings summary

Executive summary

• Q4 FY2024-2025 revenues reached INR 1,039 crores, surpassing the 1,000 crore mark for the first time; full-year profit before tax hit an all-time high of INR 603.3 crores.

• Audited standalone and consolidated financial results for the quarter and year ended March 31, 2025, were approved, with unmodified audit opinions confirming compliance and accuracy.

• The company saw a strong Q4 recovery after subdued demand in the first three quarters, driven by infrastructure development and stable rural demand.

• Strategic exit from low-margin products and focus on advanced technologies and regulatory-driven opportunities are expected to drive future growth.

• Board recommended a final dividend of ₹19 per equity share for FY 2024-25, subject to shareholder approval at the AGM.

Financial highlights

• Standalone revenue from operations for FY 2024-25 was ₹3,80,409 lakh, up from ₹3,78,371 lakh year-over-year.

• Standalone net profit after tax for FY 2024-25 was ₹45,866 lakh, compared to ₹40,478 lakh in FY 2023-24.

• Q4 FY2024-2025 profit before tax was INR 168.8 crores; PBT margin for the year stood at 18.2% of product sales.

• EBITDA margin was 22.8% for Q4 and 21.1% for the full year.

• Service income grew 15% in Q4 and 17.4% year-on-year, reaching INR 443.4 crores for FY2024-2025.

Outlook and guidance

• Entering FY2025-2026 with strong momentum, supported by Q4 recovery and positive industry fundamentals.

• Focus on increasing penetration of advanced trailer technologies and readiness for upcoming ESC and ADAS regulations.

• Anticipates headwinds in exports due to emerging US tariffs but remains committed to navigating challenges.

• CapEx guidance for FY2025-2026 is INR 190 crores, mainly for plant expansion and new lines.

• The Board has recommended a final dividend of ₹19 per share, reflecting confidence in ongoing performance.