Z F Steering Gear (India) Ltd

Z F Steering Gear (India) Ltd

ZF Steering Gear (India) Limited was incorporated in January 21 1981. The Company is engaged in production & assembling of steering systems for vehicles buses and tractors. The Company has plant at Vadu Budruk Near Pune and at Pithampur (Madhya Pradesh). The company's steering gears find application in buses and are supplied to various state transport undertakings and also to heavy vehicles like dumper and haulage trucks. Buses fitted with power steering gears reduce the drivers' effort and fatigue to steer the vehicle and adds to their safety. The original collaborators of the company ZF Friedrichshfan AG Germany (ZFG) formed a joint venture with Robert Bosch GmbH(Bosch) and have established a separate company - ZF LENKSYSTEME GmbH (ZFLS) - which is jointly managed by ZF and Bosch and in which both these partners hold 50% stake each. The steering gear business of the partner has been transferred to this new joint venture company. Consequently the investment in the shares of ZFGIL held by ZFG has been transferred to ZF Beteiligungsholding GmbH (ZFBG) which will be fully controlled by ZFLS the joint venture company. The shares were transferred to ZFBG after necessary government approvals. Similarly all rights and obligations of ZFG under the technical collaboration agreement with ZF India have been transferred to ZFLS.During 1998-99 Company was awarded renewal of ISO 9001 Certificate for further period of 3 years.During the year 2001-02 Company installed two windmills (0.35 MW each) at Vankusavade in Satara District ancl one windmill (1 MW) at Supa in Ahmednagar District which generated 25 lac units of Power.In 2004 the Collaborators. ZF Lenksysteme Germany (ZFLS) had a subsidiary ZF Beteiligungsgesellschaft (ZFBTL) which was holding 1170000 shares of ZF India. As a part of restructuring ZFBTL merged with the holding company ZFLS and consequently ZFLS held shares of ZF India.The Company allotted 4536650 Equity shares as fully paid-up Bonus Shares in the ratio of one share for every share held (1:1) on September 52005 and as a result the said Shares were listed at Bombay Stock Exchange. It expanded the installed capacity ofPower Steering Gears from 150000 to 240000 per annum and of Mechanical Steering Gears from 100000 to 120000 per annum during 2006-07 at a capital expenditure of approx. Rs. 70 million. The Company expanded its installed capacity of Power Steering Gears from 240000 to 270000 per annum and of Mechanical Steering Gears from 120000 to 140000 per annum during 2007-08 at a capital expenditure of approx. Rs. 80 million. It commissioned 5 MW Wind Turbine Machines in March 2010. By end of financial year 2010-11 the Company expanded its installed capacity of Power Steering Gears to 3 lac units per annum and Mechanical Steering Gears to 2 lac units per annum at its existing factory at Vadu Budruk.The Company made substantial investment in the JV Company ZF Lenksysteme India Private Limited. In February 2012 additional capital was raised by the JV Company and consequently the paid-up capital of the JV Company stood at Rs. 819 million and Company held 26% of the total paid up capital of the JV Company. The JV Company set up its manufacturing plant at Village Phulgaon Pune to establish its manufacturing operations in steering systems and as a result the said plant was inaugurated on April 26 2012. A 5 MW Solar Power Project was commissioned in Patan District of Gujarat which became operational in 2012-13.During the year 2014 there was a change in the Shareholding/ Ownership pattern of `ZF Lenksysteme GmbH' (ZFLS) the foreign-promoter of Company. Previously entire share capital of ZFLS was held between ZF Friedrichshafen AG and Robert Bosch GmbH in the ratio of 50:50. In January 2015 Robert Bosch GmbH agreed to buy the shares held by ZF Friedrichshafen AG in ZFLS and became 100% owner of ZFLS. Consequent upon this change name of ZFLS was changed to `Robert Bosch Automotive Steering GmbH'.During year 2017-18 the Company commissioned rooftop solar project situated at Vadu Budruk plant. In April 2022 the Company had incorporated two Wholly-Owned Subsidiaries DriveSys Systems Private Limited and NexSteer Systems Private Limited.