Sale/ Transfer/ Assignment of Factory land and appurtenant building by NexSteer Systems Private Limited, Wholly Owned Subsidiary (WOS) of the Company to DriveSys Systems Private Limited, ....
ZFSTEERING · price
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ZF Steering Gear (India) Limited's board approved unaudited Q1 FY26 results (quarter ended June 30, 2025). Standalone revenue from operations rose to Rs. 136.63 Cr from Rs. 127.89 Cr YoY, but standalone profit after tax dipped to Rs. 9.82 Cr from Rs. 11.52 Cr YoY. Consolidated revenue grew to Rs. 140.01 Cr with PAT attributable to shareholders at Rs. 7.91 Cr vs Rs. 10.19 Cr YoY; three subsidiaries together reported a net loss of Rs. 4.31 Cr in the quarter. The 45th AGM is scheduled for September 8, 2025, with book closure from September 2 to September 8. The board also approved in-principle the transfer of leasehold rights in a factory land (~20,234 sq mtrs) and building (~13,281 sq mtrs built-up area) at MIDC Supa Parner, Ahmednagar, from its wholly-owned subsidiary NexSteer Systems to another wholly-owned subsidiary DriveSys Systems, to support DriveSys's new Aluminium Extrusion and Melting business. The transaction is at arm's length price, expected to complete by end of September 2025, subject to MIDC's Building Completion Certificate and other approvals.
This is essentially an internal restructuring between two wholly-owned subsidiaries, so it has limited direct impact on shareholders of ZF Steering Gear. However, the slight dip in profitability at both standalone and consolidated levels in Q1 FY26 — while revenue grew — is worth noting for investors tracking margins. The aluminium extrusion foray is a new diversification step but at an early stage with no revenue contribution yet.