ZF Steering Gear (India) MD, chairman, board of directors and AGM
NSE: ZFSTEERINGBSE: 505163Auto ComponentsSmall Cap
Last close ₹619.05down ₹27.30 (4.22%)BSE ₹616.80
Share price at the NSE close on 23 Oct 2026. Previous close ₹646.35.
52-week range of BSE trades to 23 Oct 2026
₹570.10Low, 30 Mar 2026₹1,022.00High, 4 Nov 2025
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹562 Cr1,710th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 24 Jul 2026
- 28.4
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 12 May 2026
- 1.2
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- Nonein the last 12 months
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 24 Jul 2026
- 4.2%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 24 Jul 2026
- 4.0%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 12 May 2026
- 0.21
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 3,21563.8% delivered
ZF Steering Gear (India) board of directors
At the end of the quarter to Sep 2026, as the company filed it; changes since are in its announcements.Their trades in its shares
- ChairpersonDinesh Hirachand Munot
- Managing directorUtkarsh Dinesh Munot
- Company Secretary and Compliance OfficerMr. Satish Mehta
7 directors4 independent2 executive1 non-executive
- Dinesh Hirachand Munot · ChairpersonExecutive · joined Nov 1986 · reappointed Jul 2026 · 2 listed boards · 1 as independent · 1 committee seat
- Utkarsh Dinesh Munot · Managing directorExecutive · joined Oct 2006 · reappointed May 2026 · 1 listed board · 2 committee seats
- Smita Amol LahotiIndependent · joined Jun 2020 · reappointed Jun 2025 · 75 months as independent · 2 listed boards · 2 as independent · 3 committee seats, 1 as chair
- Dinesh Keshari Chand BothraNon-executive · joined Feb 2024 · 1 listed board · 1 committee seat
- Rohit Kishor Rathi · Shareholder DirectorIndependent · joined Aug 2024 · reappointed Aug 2024 · 25 months as independent · 1 listed board · 1 as independent · 1 committee seat
- Shrenik Rasik GandhiIndependent · joined Apr 2025 · reappointed Apr 2025 · 18 months as independent · 1 listed board · 1 as independent · 2 committee seats, 2 as chair
- Bharat Bansilal AgarwalIndependent · joined Apr 2025 · reappointed Apr 2025 · 18 months as independent · 1 listed board · 1 as independent · 1 committee seat
An independent director has no business or family tie to the company, its promoters or its managers beyond the seat. Listed boards counts the boards of listed companies the director sits on, this one included, and "as independent" how many of those seats are independent ones. Committee seats are audit and stakeholder committee seats across those companies. Months as independent is filed for independent directors only, whose terms the rules cap. Disqualified is the company's own mark that a director may not serve under company law.
1 director who left
- Shridhar Kalmadi, left 1 Apr 2025: Tenure Completion
Committees and meetings
Who sits on each, and how often they met.Board meeting notices and outcomes
Board
- 24 Jul 20267 of 7 present4 independent · 72 days in between
- 12 May 20266 of 7 present3 independent
Audit Committee
Chair Shrenik Rasik Gandhi
Smita Amol Lahoti, Rohit Kishor Rathi, Bharat Bansilal Agarwal, Utkarsh Dinesh Munot
- 24 Jul 20265 of 5 present4 independent · 72 days in between
- 12 May 20264 of 5 present3 independent
Nomination and remuneration committee
Chair Bharat Bansilal Agarwal
Smita Amol Lahoti, Rohit Kishor Rathi, Dinesh Keshari Chand Bothra
- 4 May 20264 of 4 present3 independent
Stakeholders Relationship Committee
Chair Shrenik Rasik Gandhi
Utkarsh Dinesh Munot, Dinesh Keshari Chand Bothra
- 12 May 20263 of 3 present1 independent
Corporate Social Responsibility Committee
Chair Dinesh Hirachand Munot
Utkarsh Dinesh Munot, Bharat Bansilal Agarwal
No meeting listed in the filing.
Meetings in the quarter filed and the one before it. The days in between are as the company files them, neither meeting's day counted; the rules allow at most 120. A quorum is the least number of members who must attend for the meeting to decide anything.
Statutory auditor
Named in the results for the quarter to Mar 2026.
- JOSHI APTE & Co.Peer-review certificate valid to May 2027
A statutory auditor checks the company's accounts and signs its results. Peer review is the accountants' institute's check of an audit firm's own work, which a listed company's auditor must hold a valid certificate of.
Tax disputes and stakes in unlisted companies
Reported in the filing for the quarter to Sep 2026.
- Unlisted stake heldMetacast Auto Private LimitedSince 4 Aug 2026
0.00% bought in the quarter; holding 51.00%, from 51.00%
- Tax disputeIncome Tax DepartmentSince 3 Sep 2026
On 21.04.2026, the Company had filed an appeal before the Hon'ble Delhi Tribunal for all 10 years i.e. AY 1995–96 to AY 2004–05. On 03.09.2026, the Hon'ble Delhi Tribunal has passed an order for the AY 1995-96 to AY 2004-05 and allowed claim of deduction u/s 80-IA / 80-IB of the Income Tax Act, for all 10 years. On 28.09.2026, the Company has submitted an application with the Assessing Officer to pass an order giving effect to the Delhi Tribunal Order. The said application is pending for adjudication.MoreLess
At the filing before: The Income Tax Appellate Tribunal, Pune Bench, vide its earlier orders dated 04.08.2006, 27.11.2007 and 18.02.2008, had restored the matter to the file of the Commissioner of Income Tax (Appeals) (CIT(A)) for fresh adjudication in respect of the Company’s claim of deduction under Sections 80-IA and 80-IB of the Income-tax Act, 1961 for Assessment Years (AY) 1995–96 to AY 2004–05. CIT(A)-28, Delhi, has vide orders dated 27.03.2026, disposed of the aforesaid appeals and disallowed the Company’s claim for deduction under Sections 80-IA/80-IB for the said assessment years.MoreLess
- Tax disputeIncome Tax DepartmentSince 29 Sep 2021Necessary submission have been filed, now at hearing stage.
At the filing before: Appeals has been filed before Commissioner of Income Appeal - 28, Delhi, against the assessment orders passed u/s 153A of the Income Tax Act for the AY 2014-15 to AY 2019-20 and u/s 143(3) of the Income Tax Act for the AY 2020-21.MoreLess
- Tax disputeIncome Tax DepartmentSince 3 Nov 2017Necessary submission have been filed, now at hearing stage.At the filing before: Appeal has been filed before Commissioner of Income Appeal - 28, Delhi, against TDS order passed u/s 154 of the Income Tax Act for AY 2013-14
- Tax disputeIncome Tax DepartmentSince 24 Feb 2023At admission stageAt the filing before: The Income Tax Department has challenged the order passed by the Hon'ble Pune Tribunal's order dt. 08.02.2022 for AY 2013-14 before the Hon'ble Bombay High Court
- Tax disputeIncome Tax DepartmentSince 6 Jun 2023At admission stageAt the filing before: Appeal has been filed against the order passed by the Hon'ble Pune Tribunal's order dt. 07.02.2023 for AY 2014-15 before the Hon'ble Bombay High Court
- Tax disputeIncome Tax DepartmentSince 18 Jun 2024Ad-interim stay has been granted by the Hon'ble Bombay High Court vide order dt. 19.06.2024. Now under admission stage.
At the filing before: Writ Petition have been filed before Hon'ble Bombay High Court, against the notice issued by the Assessing Officer dt. 26.03.2012 u/s 148 of the Income Tax Act read with the reason disposal Order dt. 06.06.2024 and Show Cause Notice dt. 12.06.2024 for the AY 2005-06MoreLess
- Tax disputeIncome Tax DepartmentSince 5 Aug 2025
On 27.03.2026, the Hon'ble Income Tax Appellate Tribunal, Delhi has passed an order and quashed the penalty order. On 15.04.2026, the assessee has filed an application with the Assessing officer to pass the Order giving effect to the Tribunal's order.MoreLess
At the filing before: On 05.08.2025 Appeal has been filed before Income Tax Appellate Tribunal, Delhi, challeging the Penalty order passed by the Hon'ble APPEAL CIT (A), Delhi- 26 order dt. 30.06.2025 for AY 2014-15
11 more
- Tax disputeSales Tax DepartmentSince 11 Dec 2020Necessary submission have been filed, now at hearing stage.At the filing before: Appeal has been filed before Joint Commissioner Appeal, Sales Tax, against the Assessment Order u/s 23 of the Maharashtra Value Added Act, 2002 for the FY 2016-17
- Tax disputeCentral Excise DepartmentSince 9 Feb 2022At admission stageAt the filing before: Appeal has been filed before CESTAT, Mumbai, agaist the order passed by the Commissioner (Appeals-I), Central Tax, Pune order dt. 29.10.2021 Order-in-Appeal No. PUN-EXCUS-001-APP-81/2021-22
- Tax disputeGoods & Service Tax DepartmentSince 19 Mar 2026
On 17.09.2026, the Assistant Commissioner, Division: Pithampur-I, CGST & Central Excise Commissionerate, Ujjain has filed an appeal (in Form GST APL-03) challenging the earlier order passed by the Adjudication Officer dt. 19.03.2026. The Company is in the process of filing its reply. The case is not yet listed for hearing.MoreLess
At the filing before: The GST Audit is completed in respect of Pithampur Plant (GSTN – 23AAACZ0549G1ZJ) for the financial year (FY) 2022-23. The Department has issued Show Cause Notice on 02.05.2025 in Form GST DRC-01, wherein the GST Department has sought in explanation on GST Input Credit, short / non payment of tax of Rs. 1,03,41,427/- and interest of Rs. 1,35,310/-. On 23.05.2025, we have filed detailed response before the Adjudication Officer, Pithampur, Madhya Pradesh. On 19.03.2026, the Adjudication Officer, Pithampur, Madhya Pradesh has passed an order and allowed input credit claimed by the assessee and also deleted the tax demand raised for the FY 2022-23, except interest liability of Rs. 1,35,310/-. In the said order, the Officer has levied Penalty of Rs. 71,439/- The assessee Company has paid the dues and close the proceeding.MoreLess
- Tax disputeGoods & Service Tax DepartmentSince 17 Oct 2023Hearing is under processAt the filing before: Appeal has been filed before GST Appellate Authority, Rudrapur, against the order passed u/s 129(3) of the CGST Act on 07.09.2023 for the FY 2023-24
- Tax disputeGoods & Service Tax DepartmentSince 21 Sep 2024Hearing is under process
At the filing before: Appeal has been filed before GST Appellate Authority, Madhya Pradesh, against the ORDER-IN-ORIGINAL issued on dated 25.06.2024 under section 73(1) of CGST Act, 2017 read with MPGST Act, 2017 and IGST Act, 2017 for the FY 2019-20MoreLess
- Tax disputeGoods & Service Tax DepartmentSince 18 Jan 2025Hearing is under process
At the filing before: Appeal has been filed before GST Appellate Authority, Karnatata against the order pssed by the the Deputy Commissioner – Commercial Tax, Vijayapura, Karnataka dt. 18.01.2025 under section 129(3) of the CGST Act and levied GST penalty of Rs. 4,59,608/- for mistake in preparation of E-way bill.MoreLess
- Tax disputeZF Steering Gear (I) Ltd v/s ZF Friedrichshafen AG and othersSince 30 Jun 2023Presently, the said 2 suits are pending for adjudication before the Hon’ble District Court, Pune.
At the filing before: The Company has filed 2 (two) commercial suits 22/2023 & 23/2023 against ZF Friedrichshafen AG and others, before the Hon’ble District Court, Pune claiming damages of Rs. 200 crore in each suit, for permanent injuction Section under section 142 of the Trade Marks Act, 1999 and for for passing off under section 134 of the Trade Marks Act, 1999MoreLess
- Tax disputeZF Friedrichshafen AG and others v/s ZF Steering Gear (I) LtdSince 10 Sep 2024Pending at interim application stage
At the filing before: ZF Friedrichshafen AG has filed Commercial IP Suit No. (L): 27382 of 2024 along with Interim Application No. (L): 28099 of 2024 before the Hon'ble Bombay High Court, inter-alia alleges an infringement and passing off, of the trademark/mark “ZF” and/or “ZF India” and a claim of Rs.100 Crores as damages. The case is now listed for hearing of interim application.MoreLess
- Tax disputePune Mathadi, Hamal and Other Manual Workers BoardSince 16 May 2025
The Hon’ble High Court vide interim order dt. 05.12.2025 stayed the order dt. 16.05.2025, subject to deposit of 50% of the assessed amount with Court, which the Company has deposited on 07.01.2026. Hearing is under process.MoreLess
At the filing before: The Pune Mathadi, Hamal and Other Manual Workers Board has passed the order 16.05.2025 and directed the Company to pay an amount of Rs 57.60 Lakhs to mathadi workers for the period from January 2024 to April 2025. On 20.06.2025, Writ Petition have been filed before Hon'ble Bombay High Court, against the notice passed the Mathadi Board dt. 16.05.2025.MoreLess
- Tax disputeMr. Sunil Baban ShitoleSince 27 May 2025We have filed our detailed written statement before the Ghodnadi Court, Shirur on 19.09.2025 for dismissal of suit filed by Mr. Shitole. Pending at hearing stageAt the filing before: The present civil suit has been filed by Mr. Shitole to claim right in the plot of land acquired by the Company in year 1995 at Vadu Budruk, Taluka Shirur, District Pune.
- Tax disputeMr. Pandharinath Sarjerao Khandagle & other 15 workersSince 8 Nov 2025The writ petitions are registered in the Court and pending at hearing stage. Affidavit of service is also filed with the Court.
At the filing before: The Company has filed writ petitions (total 16) before the Hon'ble Bombay High Court challenging the order dated 08.07.2025 passed by the Labour Court, Pune, wherein the Labour Court held that the enquiry conducted against the defendant is not proper, legal & fair.MoreLess
In the company's own words, from its latest governance filing.
Investor complaints and compliance
Quarter by quarter.
Investor complaints received and resolved, the company's own count
- Received
- Resolved
Open at the quarter's end
None open at any quarter's end.
- The board is made up as the listing rules require
- Yes
- The board has a regular chairperson
- Yes
- The company has a risk management committee
- No
- The chair is related to the managing director
- Yes
- The filing has a part on fines and penalties
- No
- The filing has a part on tax disputes
- Yes
- There was a cyber security incident in the quarter
- No
The company's own answers in its filing.