Z F Steering Gear (India) Ltd -BALANCE SHEET ANALYSIS . 2007
Z F Steering Gear (India) Ltd -BALANCE SHEET ANALYSIS . 2007
THIS COMPNAY LOOKS GOOD 2 ME.
COMPANY NAME : Z F Steering Gear (India) Ltd.
OWNERSHIP : Firodia Group
MAJOR STAKE HOLDER
Zf Lenksysteme Gmbh 23,40,000 25.79
Bajaj Tempo Ltd 9,39,000 10.35
ACTIVITY
Z F Steering Gear (India) Ltd. MANUCTURES 2 items
# Hydraulic Power Steering Gears
# Mechanical Steering Gears
as these 2 items are used IN commercial vehicle , which are growing at good rate. Main problem with oem manufactures are those who make things for 2 wheeler
he Company has recently entered Passenger-Car segment by supplying Rack & Pinion Power Steering Gears for Indica Car.
FINACIALS
SALES UP BY 13 % 216.58 CR PAT UP BY 22 % TO 27.56 CR
DIV 80%
MARKET CAP. OF COMPANY 18 5 CR . CMP 205
With many new models of commercial vehicles beingintroduced by the existing OEMs, and also some leading OEMs entering this segment and the Government’s focus on improving road-infrastructure and safety of people, the opportunities for growth are expected to be very good
The Company has expanded its installed capacity of Power Steering Gears from 150,000 to 240,000 per annum and of Mechanical Steering Gears from 100,000 to 120,000 per annum, during 2006-07, at a capital expenditure of approx. Rs. 70 million. The expansion has been funded from the internal accruals.
In 2007 e.p.s was 30 rs. With the current expansion we expect e.p.s of rs 35-40 for 2008. at rs 200 div yield is around 4%.
Cost increase in basic materials like steel/ pig-iron etc. has a major impact on the Company’s input costs.
EAGLES’S EYE
