ZF Commercial Vehicle Control System to give a Dividend of Rs 17
ZF Commercial Vehicle has declared a dividend of Rs 17 per share, with each share valuing Rs 5, with a Payout ratio of 7.97% of the company's standalone profits.
by Damodharan N
Updated Jul 01, 2024
ZF Commercial Vehicle Control System has announced that it will hold its 20th Annual General Meeting (AGM) on Monday, 22nd July 2024 at 15.00 Hours (IST) via Video Conferencing (VC) and Other Audio-Visual Means (OAVM). During the AGM, shareholders will be asked to consider and vote on an ordinary resolution to approve a dividend of Rs 17 per share for the financial year ending 31st March 2024.
The proposed dividend will be distributed on 1,89,67,584 fully paid-up equity shares of Rs 5 each, amounting to a total payout of Rs 3,224.49 lakhs. This distribution represents a dividend payout ratio of 7.97% of the standalone profits of the company.
The dividend will be paid to shareholders whose names appear in the register of members or the register of beneficial owners as of 15th July 2024, which is the record date set for this purpose. Additionally, the AGM will seek approval for the adoption of the audited standalone and consolidated financial statements for the financial year ended 31st March 2024.
This includes the balance sheet, statement of profit and loss, statement of cash flow, statement of changes in equity, and the accompanying explanatory notes, along with the reports from the auditors and the Board of Directors.
ZF Commercial Vehicle Annual Report
The ZF Commercial Vehicle Control Systems India Limited's Annual Report for 2023-24 provides a comprehensive overview of the company's financial performance, management analysis, innovation initiatives, and future outlook.
This report offers insights into both consolidated and standalone financial statements, management's discussion on threats and opportunities, and advancements in ACE (Autonomous, Connected, and Electric) products.
Key Financial Data
The company's standalone and consolidated finance statements are given below from the annual report’s board highlights
|
Particulars |
Standalone 2023-24 (Lakhs) |
Standalone 2022-23 (Lakhs) |
Consolidated 2023-24 (Lakhs) |
Consolidated 2022-23 (Lakhs) |
|
Revenue from Operations |
3,78,370.85 |
3,44,458.60 |
3,81,564.74 |
3,44,424.53 |
|
Other Income |
9,577.37 |
6,701.31 |
9,481.61 |
6,698.21 |
|
Total Income |
3,87,948.22 |
3,51,159.91 |
3,91,046.35 |
3,51,122.74 |
|
Profit before Interest, Depreciation, and Tax |
65,891.45 |
53,731.74 |
66,123.85 |
53,733.88 |
|
Finance Costs |
500.91 |
566.54 |
500.91 |
566.54 |
|
Depreciation |
10,948.78 |
10,476.38 |
10,979.88 |
10,477.68 |
|
Profit before Tax |
54,441.76 |
42,688.82 |
54,643.06 |
42,689.66 |
|
Provision for Taxation |
13,963.82 |
10,921.48 |
13,998.41 |
10,922.48 |
|
Profit after Tax |
40,477.94 |
31,767.34 |
40,644.65 |
31,767.18 |
|
Other Comprehensive Income |
(58.63) |
12.69 |
(58.63) |
12.69 |
|
Total Comprehensive Income |
40,419.31 |
31,780.03 |
40,586.02 |
31,779.87 |
Revenue and Profit:
The Overall revenue and profit for the company in the FY23-24
- Revenue: Increased from INR 3,444.59 crores to INR 3,783.71 crores, marking a YoY growth of 9.85%.
- EBITDA: Grew by 11.54% from the previous fiscal year to 17.4%.
- Profit After Tax (PAT): Reached INR 404.78 crores, a YoY increase of 27.42%.
- CAPEX: Increased from INR 88.9 crores in the last fiscal year to INR 185.31 crores, a YoY growth of 108.45%.
Management Analysis
The annual Report also discusses the company's current position and where it stands in terms of material and financial capability and also assesses the
Opportunities
The company in its report highlights key opportunities like govt policies and infrastructure development.
- Government Initiatives: The introduction of Phase 2 of BS VI RDE norms aligns with European and American standards, offering the company a chance to collaborate with OEMs and penetrate the Indian market with advanced technologies.
- Electric Vehicles (EVs): The Indian government's push towards EV adoption in the commercial vehicle sector presents significant opportunities for growth. ZF has launched several e-mobility products such as electric compressors and electronic braking systems.
- Infrastructure Development: Improvement in infrastructure and express highways increases the demand for higher capacity engines and automated manual transmission controls in heavy-duty segments.
Threats
The threats include the major political tension that will affect the company with the tariff problem and supply chain risks that associate with.
- Geopolitical Risks: Escalating geopolitical tensions and volatile global financial markets pose risks to the company’s operations and profitability.
- Commodity Prices: Fluctuations in international crude oil and other commodity prices could impact the company’s cost structure and margins.
- Supply Chain Disruptions: Persistent supply-side disruptions could affect the timely delivery of products and services, impacting overall performance.
Innovation in ACE Products
ZF has made significant strides in advancing Autonomous, Connected, and Electric (ACE) vehicle solutions. Key innovations include:
- Electronic Stability Control (ESC): Development and implementation of ESC systems to enhance vehicle safety.
- Electronic Braking System (EBS): Introduction of EBS with regenerative braking capabilities for electric buses, improving energy efficiency and reducing operating costs.
- Automated Manual Transmission (AMT): AMT systems to optimize gear shifts and enhance fuel efficiency without compromising performance.
Future Outlook
The company is optimistic about the future, driven by several strategic initiatives:
- Expansion in EV Market: Continued focus on developing and launching new e-mobility products to cater to the growing EV market.
- Technological Advancements: Investment in R&D to innovate and bring new technologies to market, ensuring compliance with evolving regulations and customer needs.
- Market Penetration: Leveraging manufacturing footprint to enhance customer-centric solutions and expand market share in the commercial vehicle segment.
In summary, ZF Commercial Vehicle Control Systems India Limited is well-positioned to capitalize on emerging opportunities in the commercial vehicle market, driven by government policies, technological advancements, and strategic initiatives aimed at innovation and growth.
Read the Full Annual Report
ZF Commercial Vehicle Control System India Ltd
ZF Commercial Vehicle Control Systems India Ltd. leads the market in advanced braking systems, conventional braking products, and air-assisted technologies and systems. The company is dedicated to accident-free driving and sustainable transportation, providing top-notch solutions in the Autonomous, Connected, and Electric (ACE) domains for India's commercial vehicle industry.
Headquartered in Chennai, Tamil Nadu, ZF operates six manufacturing facilities, a technology development support center, a vehicle testing facility, and a nationwide aftermarket distribution and services network.
ZF's manufacturing facilities are located in Chennai, Jharkhand, Mahindra World City, Pantnagar, Lucknow, and Oragadam. Additional facilities include the ZF IT Centre India in Porur, Chennai, and the ZF Technology Centre India in Ramapuram, Chennai.
ZF Commercial Vehicle Control System to give a Dividend of Rs 17 - FAQs
1. What was the revenue from operations for FY 23-24?
The revenue from operations for FY 23-24 is INR 3,78,370.85 lakhs.
2. How much did revenue increase from FY 22-23 to FY 23-24?
The revenue Increased by 9.85% for FY 23-24
3. What was the other income in FY 23-24?
The other income in FY 23-24 is INR 9,577.37 lakhs.
4. How does other income compare to FY 22-23?
The other income Increased by 42.90%. Compared with previous FY 22-23
5. What was the total income for FY 23-24?
The total income for FY 23-24 is INR 3,87,948.22 lakhs.
6. What was the profit before tax (PBT) in FY 23-24?
The profit before tax (PBT) in FY 23-24 is INR 54,643.06 lakhs.
7. How much did PBT increase from FY 22-23?
The PBT Increased by 28.00% compared with previous FY 22-23
8. What was the profit after tax (PAT) in FY 23-24?
The profit after tax (PAT) in FY 23-24 is INR 40,477.94 lakhs.
9. What was the comprehensive income in FY 23-24?
The comprehensive income in FY 23-24 is INR 40,586.02 lakhs.
10. What were the finance costs in FY 23-24?
The finance costs in FY 23-24 is INR 500.91 lakhs.
11. How much did finance costs decrease by from FY 22-23?
The finance costs decrease Decreased by 11.57%. Compared with previous FY
12. What was the depreciation expense in FY 23-24?
The depreciation expense in FY 23-24 is INR 10,948.78 lakhs.
13. What was the capital expenditure (CAPEX) in FY 23-24?
The capital expenditure (CAPEX) in FY 23-24 is INR 185.31 crores.
14. How much did CAPEX increase from FY 22-23?
CAPEX from FY 22-23 Increased by 108.45%.
15. What was the provision for taxation in FY 23-24?
The provision for taxation in FY 23-24 is INR 13,998.41 lakhs.
16. What was the percentage increase in revenue from operations compared to FY 22-23?
The percentage increase in revenue from operations is 9.85%.
17. What was the percentage increase in other income compared to FY 22-23?
The percentage increase in other income compared to FY 22-23 is 42.90%.
18. How much did total income grow by from FY 22-23?
The total income for FY 22-23 Grew by 10.47%.
19. What percentage increase did PBT see from FY 22-23?
The percentage increase for PBT from FY 22-23 is 28.00%.
20. What percentage increase did PAT see from FY 22-23?
Thepercentage increase for PAT from FY 22-23 is 27.42%.
21. What was the percentage change in comprehensive income compared to FY 22-23?
The percentage change in comprehensive income compared to FY 22-23 is 27.73%.
22. What percentage decrease did finance costs experience from FY 22-23?
The percentage decrease did finance costs experience from FY 22-23 is -11.57%.
23. What percentage increase did depreciation expenses show from FY 22-23?
The percentage increase for depreciation expenses show from FY 22-23 is 4.50%.
24. What percentage increase did CAPEX see from FY 22-23?
The percentage increase for CAPEX is from FY 22-23 108.45%.
25. How much did profit before interest, depreciation, and tax (EBITDA) increase by in FY 23-24?
The profit before interest, depreciation, and tax (EBITDA) Increased by 11.54%in the FY 23-24.
26. How much did CAPEX increase in FY 23-24?
The CAPEX Increased by 108.45% in FY 23-24
27. What was the percentage increase in depreciation for FY 23-24?
The depreciation for FY 23-24 is Increased by 4.50%.
28. How much did finance costs decrease in FY 23-24?
The finance costs in FY 23-24 Decreased by 11.57%.