ZF Commercial Vehicle Control Systems India cash flow

Latest FY26

Cash from operations: ₹810cr+183.2% on FY25
Capital spending: ₹146cr−12.9% on FY25
Free cash flow: ₹664cr+460.0% on FY25
Cash from financing: −₹52.1cr−₹44.1 cr in FY25

₹ crore except per share

Tap a line for its trend	Last 12Mto Jun 2026	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus

Changes in working capital
Adjustments to reconcile profit — non-cash items						FY22 and earlierEvery year the company has filed comes with Alpha Plus.
	—	132	124	110	105
	—	5.3	5.7	5.0	5.7
	—	−84.3	−99.6	−86.6	−52.5
	—	−7.4	−8.0	−1.0	−0.4
	—	−7.9	0.0	0.0	0.0
	—	−26.9	0.0	0.0	0.0
	—	−90.9	−15.2	−18.4	−12.2
	—	186	−185	3.0	6.9
	—	0.0	0.0	−180	−101
	—	0.9	0.0	−6.5	−5.5
	—	0.0	−0.6	1.4	−4.3
	—	−7.8	6.1	7.0	22.4
	—	0.0	0.6	0.2	−0.2
	—	0.0	−25.5	−9.4	14.1
	—	0.0	0.0	0.0	15.7
	—	157	0.0	0.0	0.0
	—	0.0	9.5	0.0	−11.1
Cash from operating activities
	669	693	609	546	427
	—	256	−188	−175	−17.3
	—	949	422	371	410
	—	139	0.0	0.0	0.0
	—	0.0	135	178	111
	—	810	286	193	298
Cash from investing activities
	—	146	167	195	128
	—	0.2	0.9	0.3	0.3
	—	2.4	350	623	430
	—	0.0	353	701	733
	—	−2.2	150	95.2	483
	—	738	0.0	0.0	0.0
	—	190	0.0	0.0	0.0
	—	0.0	0.0	0.0	1.8
	—	94.4	85.3	81.3	38.1
	—	−108	0.0	0.0	0.0
	—	−707	−228	−131	−271
Cash from financing activities
	—	11.5	11.9	9.5	8.3
	—	36.0	32.2	24.7	22.8
	—	−4.6	0.0	0.0	0.0
	—	−52.1	−44.1	−34.1	−31.1
	—	50.6	14.2	27.8	−3.7
	—	11.5	0.9	0.2	0.9
	—	62.1	15.1	28.0	−2.8
	—	—	—	114	86.5
Reference items
	661	655	631	566	470
	15.7%	15.9%	16.5%	14.8%	13.7%
	664	664	119	−2.4	171
	—	664	—	—	—
	₹350.19	₹350.19	₹62.54	−₹1.26	₹89.96
	6.01×	—	—	—	—
	—	1.57×	0.62×	0.47×	0.94×
	—	0.0	135	178	111
	—	139	—	—	—

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

ZFCVINDIA₹2,103.40

ZF Commercial Vehicle Control Systems India Ltd.

· Auto & Mobility

₹ CrorePeersBOSCHLTD RKFORGE OLECTRA MSUMI MINDACORP JKTYRE GABRIEL CRAFTSMANMcap ₹3,990 Cr

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In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Last 12M 30/06/2026
Adjustments to Reconcile Profit — Non-cash Items
+ Depreciation & Amortisation	104.8	109.8	124.3	131.8	—
+ Finance Costs	5.7	5.0	5.7	5.3	—
+ Interest Income	-52.5	-86.6	-99.6	-84.3	—
+ Unrealised FX (Gain) / Loss	-0.4	-1.0	-8.0	-7.4	—
+ Other Non-cash Items	0.0	0.0	0.0	-7.9	—
+ Other — Cash Effects are Investing / Financing	0.0	0.0	0.0	-26.9	—
Changes in Working Capital
+ Inventories	-12.2	-18.4	-15.2	-90.9	—
+ Trade Receivables — Current	6.9	3.0	-185.0	186.4	—
+ Trade Receivables — Non-current	-100.6	-179.7	0.0	0.0	—
+ Other Financial Assets — Current	-5.5	-6.5	0.0	0.9	—
+ Other Financial Assets — Non-current	-4.3	1.4	-0.6	0.0	—
+ Other Current Assets	22.4	7.0	6.1	-7.8	—
+ Other Non-current Assets	-0.2	0.2	0.6	0.0	—
+ Trade Payables — Current	14.1	-9.4	-25.5	0.0	—
+ Other Financial Liabilities — Current	15.7	0.0	0.0	0.0	—
+ Other Current Liabilities	0.0	0.0	0.0	157.1	—
+ Provisions — Current	-11.1	0.0	9.5	0.0	—
Cash from Operating Activities
Profit Before Tax (per I/S)	426.9	546.4	609.3	693.1	669.0
+ Total Adjustments (incl. Working Capital)	-17.3	-175.1	-187.8	256.3	—
Cash from Operations (pre-tax)	409.6	371.3	421.5	949.4	—
+ Interest Paid — Operating	0.0	0.0	0.0	139.2	—
+ Income Taxes Paid	111.2	178.4	135.5	0.0	—
Cash from Operating Activities	298.5	192.9	286.1	810.2	—
Cash from Investing Activities
+ Acq of Fixed Assets (Capex)	127.8	195.2	167.5	145.9	—
+ Disp of Fixed Assets	0.3	0.3	0.9	0.2	—
+ Acq of Investment Property	430.0	623.0	350.0	2.4	—
+ Disp of Investment Property	733.4	701.0	353.4	0.0	—
+ Acq of Other Long-term Assets	483.3	95.2	149.9	-2.2	—
+ Purchase of Investments (Equity / Debt)	0.0	0.0	0.0	738.0	—
+ Sale of Investments (Equity / Debt)	0.0	0.0	0.0	190.0	—
+ Acq of Subsidiaries / Businesses (net)	1.8	0.0	0.0	0.0	—
+ Interest Received — Investing	38.1	81.3	85.3	94.4	—
+ Other Inflows / (Outflows) — Investing	0.0	0.0	0.0	-107.9	—
Cash from Investing Activities	-271.0	-130.9	-227.7	-707.4	—
Cash from Financing Activities
+ Payment of Lease Liabilities	8.3	9.5	11.9	11.5	—
+ Dividends Paid	22.8	24.7	32.2	36.0	—
+ Other Inflows / (Outflows) — Financing	0.0	0.0	0.0	-4.6	—
Cash from Financing Activities	-31.1	-34.1	-44.1	-52.1	—
Net Changes in Cash (pre-FX)	-3.7	27.8	14.2	50.6	—
+ Effect of FX Rate Changes on Cash	0.9	0.2	0.9	11.5	—
Net Changes in Cash	-2.8	28.0	15.1	62.1	—
Closing Cash	86.5	114.5	—	—	—
Reference Items
EBITDA	470.4	566.4	631.1	655.0	661.3
EBITDA Margin %	13.66	14.84	16.47	15.90	15.71
Free Cash Flow (CFO − Capex)	170.6	-2.4	118.6	664.2	664.2
Free Cash Flow to Equity	—	—	—	664.2	—
Free Cash Flow per Basic Share	89.96	-1.26	62.54	350.19	350.19
Price to Free Cash Flow	—	—	—	—	6.01
Cash Flow to Net Income	0.94	0.47	0.62	1.57	—
Cash Paid for Taxes	111.2	178.4	135.5	0.0	—
Cash Paid for Interest	—	—	—	139.2	—

As filed, sign as filed: a payment tagged as a positive magnitude in the filing stays positive here, so read the label, not the sign. A line appears only when the company tagged that concept in at least one period shown — depth follows the filer, so a thin statement means a thin filing. Total Adjustments is the filer's own grand total of the reconciliation and spans BOTH the non-cash items and the working-capital block; Profit Before Tax plus it equals Cash from Operations (pre-tax). It can be reported when its components are not, so it is never a sum of the rows above it. No consensus estimates → no Est columns. Click any row to chart it.

« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave

Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.