138% return in 3 years, this share of auto sector made money, know how is the company’s business – zf commercial vehicle share surging 138 percent in 3 years
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WABCO INDIA LIMITED operates under the ZF WABCO brand and is a part of the Commercial Vehicle Control Systems Division of the ZF Group. It is the market leader in advanced braking systems and conventional braking products in India. The company also provides software development and various services. The headquarter of the company is in Chennai.
In the first quarter of the financial year 2023-24, there has been a significant growth in the sales of the company. 961 crore, up 20.42% over the corresponding quarter of the previous year. Also, there was a significant increase of 42.4% in operating profit, reaching Rs 141 crore in Q1 FY24. While it was Rs 99 crore in Q1 FY23. In addition, there has been a significant increase in net profit for Q1. It grew by 61.29% to Rs 100 crore.
Looking at the company’s revenue mix, air assist and full air actuation systems for automotive and non-automotive applications together account for 78.32 per cent of its revenue. Spare parts and accessories contribute 12.46 per cent. While 8.41 percent revenue comes from the sale/rendering of services. Less than 1 percent of the revenue comes from other categories. This stock has given decent returns to its investors. The stock has gained 138 per cent in the last 3 years.
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