ZF Steering Gear India surged 9.48% to Rs 810.5 after the company announced that its wholly owned subsidiary, Drivesys Systems, has secured a significant order worth Rs 151 crore for its renewable energy business.
In an exchange filing, the company said the order was received from a leading Indian business conglomerate. However, the name of the customer has not been disclosed to protect commercial confidentiality and avoid any potential impact on future business opportunities. ZF Steering Gear India confirmed that the counterparty is a credible and well-established entity.The order involves the manufacturing and supply of machined aluminium parts. Pricing for the order is on a CIF basis and is linked to base metal prices declared by NALCO.
The company stated that the order will be executed over a period of 15 months. It also clarified that none of its promoters or members of the promoter group have any interest in the awarding entity, and the transaction does not fall under related-party transactions under applicable regulatory norms.
ZF Steering Gear (India) is engaged in the business of production & assembling of steering systems for vehicles, buses and tractors.
On the financial front, the company reported a consolidated net loss of Rs 0.39 crore in Q2 FY26, compared with a net profit of Rs 1.72 crore in Q2 FY25. However, revenue from operations rose 8.4% year-on-year to Rs 120.56 crore in Q2 FY26.
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