ZF Commercial Vehicle Control Systems India Limited reported a marginal revenue increase of 0.8% year-on-year in Q2 FY26, reaching INR958.21 crores. Despite headwinds, aftermarket sales grew by 12.6%. The company focuses on ESC adoption, electric mobility, and sustainability. Net profit for H1 FY26 increased by 10.6% to INR230.65 crores. ZF remains committed to growth and innovation in a volatile global environment.
Financial Performance
In Q2 FY26, ZF Commercial Vehicle Control Systems India Limited reported total revenues of INR958.21 crores, a 0.8% increase compared to INR950.18 crores in the same quarter last year. For the first half of FY26, the company’s consolidated net profit reached INR230.65 crores, a 10.6% increase from INR208.55 crores in the corresponding period of FY25.
The company reported an EBITDA margin of 22.9%, with profit before tax at 18.6% of product sales, amounting to INR145.9 crores, and a profit after tax of INR108.3 crores for Q2 FY26.
Market and Strategy
Overall OE sales grew by 7.4% in Q2 FY26, aligning with commercial vehicle production growth. Key strategies include increasing penetration of trailer ABS and EBS, localization efforts for buses, and expansion in electric mobility solutions.
The aftermarket segment registered impressive growth of 12.6% in Q2 FY26, driven by increased retrofitment of trailer ABS and increased supply of door control systems.
Sustainability Initiatives
Sustainability remains a core priority. The Jamshedpur plant implemented rainwater harvesting, contributing to a 25% reduction in freshwater consumption. The company celebrated CVS Sustainability Week 2025 across all facilities.
Exports
Export performance in Q2 FY26 registered a 16% decline compared to the same period last year, primarily due to volume reduction in the U.S. market. This was partially offset by increased volume in Europe (EMEA), which saw sales increase by 9%. Export of services grew by 12.1%.
Electric Mobility
ZF is focused on electric mobility, with a portfolio including e-compressors, EBS, ESC, and ECAS. Electric bus market demonstrated a growth of 37% in H1 2025-26.
Source: BSE
