ZF Steering Gear vs IP Rings vs Pavna Industries: Which Stock Should You Track
- October 12, 2026
- Posted by: Harsh Piplani
- Category: Market
ZF Steering Gear (India) PE 38.15, mkt cap Rs 622 crore. IP Rings PE 56.65, mkt cap Rs 175 crore. Pavna Industries PE 26.46, mkt cap Rs 210 crore.
Quick Answer
ZF Steering Gear (India) vs IP Rings vs Pavna Industries is a side-by-side comparison of three companies from the auto components space. On this comparison, ZF Steering Gear (India) carries a market capitalisation of about Rs 622 crore, against Rs 175 crore for IP Rings and Rs 210 crore for Pavna Industries, with return on equity of 3.20%, 2.48% and 3.09% respectively. Each company’s numbers are presented here without a declared preference, since the right stock depends on an investor’s own criteria.
ZF Steering Gear (India) vs IP Rings vs Pavna Industries starts with the core numbers most investors compare within the auto components segment: market capitalisation, valuation multiples, profitability, dividend yield and the latest quarterly results. Figures below are sourced as of October 2026 and will shift with daily price moves.
All three names sit in the auto components bucket, which makes them a natural set to place side by side rather than a random trio of unrelated businesses. The sections below cover the company profiles, a valuation table, the latest quarter and a five-quarter trend for revenue and net profit.
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ZF Steering Gear (India), IP Rings and Pavna Industries: Company Overview
ZF Steering Gear (India) is a listed Indian company in the auto components space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 622 crore, a return on equity of 3.20% and a book value of Rs 530.69 per share. Its quarterly revenue moved from Rs 138.33 crore in June 2025 to Rs 157.85 crore in June 2026, a change of +14.1%.
IP Rings is a listed Indian company in the auto components space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 175 crore, a return on equity of 2.48% and a book value of Rs 81.33 per share. Its quarterly revenue moved from Rs 81.95 crore in June 2025 to Rs 97.14 crore in June 2026, a change of +18.5%.
Pavna Industries is a listed Indian company in the auto components space, tracked here on book value, return ratios and valuation alongside its peers in this comparison. It has a market capitalisation of about Rs 210 crore, a return on equity of 3.09% and a book value of Rs 14.64 per share. Its quarterly revenue moved from Rs 60.57 crore in June 2025 to Rs 92.15 crore in June 2026, a change of +52.1%.
ZF Steering Gear (India) vs IP Rings vs Pavna Industries: Valuation and Profitability Snapshot
| Metric | ZF Steering Gear (India) | IP Rings | Pavna Industries |
|---|---|---|---|
| Market Cap (approx.) | Rs 622 crore | Rs 175 crore | Rs 210 crore |
| PE Ratio (TTM) | 38.15 | 56.65 | 26.46 |
| PB Ratio | 1.29 | 1.70 | 1.03 |
| Return on Equity (ROE) | 3.20% | 2.48% | 3.09% |
| EPS (TTM, Rs) | 17.98 | 2.44 | 0.57 |
| Dividend Yield | 0.00% | 0.00% | 0.00% |
| Debt to Equity | 0.22 | 1.19 | 0.51 |
| Book Value per Share (Rs) | 530.69 | 81.33 | 14.64 |
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On valuation, ZF Steering Gear (India) trades at a PE of 38.15 and a PB of 1.29, IP Rings at a PE of 56.65 and a PB of 1.70, while Pavna Industries trades at a PE of 26.46 and a PB of 1.03. On return on equity, the three post 3.20%, 2.48% and 3.09% respectively, and on dividend yield they stand at 0.00%, 0.00% and 0.00%. ZF Steering Gear (India) has the highest market capitalisation of the three at Rs 622 crore, while IP Rings has the lowest at Rs 175 crore. IP Rings has the highest PE ratio of the three at 56.65, while Pavna Industries has the lowest at 26.46. ZF Steering Gear (India) has the highest return on equity of the three at 3.20%, while IP Rings has the lowest at 2.48%. IP Rings has the highest debt to equity ratio of the three at 1.19, while ZF Steering Gear (India) has the lowest at 0.22. Debt to equity is 0.22, 1.19 and 0.51 for the three respectively.
ZF Steering Gear (India) vs IP Rings vs Pavna Industries: Latest Quarterly Results
| Company | Latest Quarter Revenue | Latest Quarter Net Profit | YoY Change (Revenue) | QoQ Change (Revenue) | YoY Change (Net Profit) |
|---|---|---|---|---|---|
| ZF Steering Gear (India) | Rs 157.85 crore | Rs 11.42 crore | +14.1% | -10.2% | +59.7% |
| IP Rings | Rs 97.14 crore | Rs 1.54 crore | +18.5% | +8.2% | +805.9% |
| Pavna Industries | Rs 92.15 crore | Rs 0.91 crore | +52.1% | +67.4% | NA |
Quarterly figures above are the most recent reported quarter for each company (Q1 FY27, quarter ended June 2026), compared with the year-ago and preceding quarter. A percentage change in net profit is shown as NA where the comparison quarter was a loss or the latest quarter is a loss, since the percentage is not meaningful in that case.
ZF Steering Gear (India) vs IP Rings vs Pavna Industries: Five-Quarter Revenue and Net Profit Trend
The five-quarter view below shows how revenue and net profit moved from June 2025 to June 2026 for each company in ZF Steering Gear (India) vs IP Rings vs Pavna Industries, which helps separate a one-quarter move from a steadier pattern.
Quarterly revenue (Rs crore)
| Quarter | ZF Steering Gear (India) | IP Rings | Pavna Industries |
|---|---|---|---|
| June 2025 | Rs 138.33 crore | Rs 81.95 crore | Rs 60.57 crore |
| September 2025 | Rs 121.51 crore | Rs 84.91 crore | Rs 75.02 crore |
| December 2025 | Rs 145.37 crore | Rs 86.53 crore | Rs 108.92 crore |
| March 2026 | Rs 175.71 crore | Rs 89.81 crore | Rs 55.04 crore |
| June 2026 | Rs 157.85 crore | Rs 97.14 crore | Rs 92.15 crore |
Quarterly net profit (Rs crore)
| Quarter | ZF Steering Gear (India) | IP Rings | Pavna Industries |
|---|---|---|---|
| June 2025 | Rs 7.15 crore | Rs 0.17 crore | -Rs 1.72 crore |
| September 2025 | -Rs 1.50 crore | Rs 0.31 crore | Rs 1.68 crore |
| December 2025 | Rs 7.28 crore | Rs 0.11 crore | Rs 3.02 crore |
| March 2026 | -Rs 0.89 crore | Rs 1.13 crore | Rs 2.41 crore |
| June 2026 | Rs 11.42 crore | Rs 1.54 crore | Rs 0.91 crore |
ZF Steering Gear (India) reported revenue of Rs 138.33 crore in June 2025 and Rs 157.85 crore in June 2026, a change of +14.1% across the period. Its highest quarterly revenue in this window was Rs 175.71 crore in March 2026. Net profit stood at Rs 11.42 crore in June 2026, which is a net profit margin of 7.23%. ZF Steering Gear (India) reported a net loss in September 2025 and March 2026.
IP Rings reported revenue of Rs 81.95 crore in June 2025 and Rs 97.14 crore in June 2026, a change of +18.5% across the period. Its highest quarterly revenue in this window was Rs 97.14 crore in June 2026. Net profit stood at Rs 1.54 crore in June 2026, which is a net profit margin of 1.59%.
Pavna Industries reported revenue of Rs 60.57 crore in June 2025 and Rs 92.15 crore in June 2026, a change of +52.1% across the period. Its highest quarterly revenue in this window was Rs 108.92 crore in December 2025. Net profit stood at Rs 0.91 crore in June 2026, which is a net profit margin of 0.99%. Pavna Industries reported a net loss in June 2025.
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What Should Investors Look at Beyond These Numbers?
Beyond the metrics above, investors comparing these three auto components names should track quarter-on-quarter revenue and margin trends, management commentary on demand and cost drivers, and factors specific to the segment such as vehicle production volumes, customer concentration, commodity costs and the small revenue base. A single-quarter snapshot can shift quickly, and smaller companies in particular can show wide swings from one quarter to the next.
It also helps to read the latest quarterly filings and investor presentations of ZF Steering Gear (India), IP Rings and Pavna Industries directly, since the figures here come from standardised data and do not capture company-specific context such as one-time items, order timing or promoter actions.
Conclusion
ZF Steering Gear (India) vs IP Rings vs Pavna Industries highlights how differently three companies in the same auto components segment can look across valuation, profitability and dividend metrics, even when operating in a similar space. This comparison does not declare a winner; investors should weigh these figures against their own research and risk appetite. Please read the disclaimer below before making any investment decision.
Disclaimer: Data and figures in this article are sourced from publicly available information as of October 2026 and may not reflect real-time prices. Please verify all data independently before making any investment decision. This comparison does not recommend or endorse any single stock over another; investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs on ZF Steering Gear (India) vs IP Rings vs Pavna Industries
What is the market cap difference between ZF Steering Gear (India), IP Rings and Pavna Industries?
Ans. As of October 2026, ZF Steering Gear (India) has a market cap of approximately Rs 622 crore, IP Rings is at approximately Rs 175 crore, and Pavna Industries is at approximately Rs 210 crore.
What are the PE and PB ratios of ZF Steering Gear (India), IP Rings and Pavna Industries?
Ans. As of October 2026, the PE ratios stand at 38.15, 56.65 and 26.46 respectively, and the price to book ratios stand at 1.29, 1.70 and 1.03 respectively.
Which of the three has the highest ROE?
Ans. ZF Steering Gear (India), IP Rings and Pavna Industries post ROE of 3.20%, 2.48% and 3.09% respectively as of October 2026. ZF Steering Gear (India) has the highest return on equity of the three at 3.20%, while IP Rings has the lowest at 2.48%.
Which of these three stocks pays the highest dividend yield?
Ans. ZF Steering Gear (India), IP Rings and Pavna Industries carry dividend yields of 0.00%, 0.00% and 0.00% respectively.
What is the debt to equity ratio for ZF Steering Gear (India), IP Rings and Pavna Industries?
Ans. ZF Steering Gear (India) carries a debt to equity of 0.22, IP Rings of 1.19, and Pavna Industries of 0.51.
What were the latest quarterly revenue and net profit of ZF Steering Gear (India), IP Rings and Pavna Industries?
Ans. For Q1 FY27 (quarter ended June 2026), ZF Steering Gear (India) reported revenue of Rs 157.85 crore and net profit of Rs 11.42 crore, IP Rings reported revenue of Rs 97.14 crore and net profit of Rs 1.54 crore, and Pavna Industries reported revenue of Rs 92.15 crore and net profit of Rs 0.91 crore.
Does this comparison recommend one of ZF Steering Gear (India), IP Rings and Pavna Industries?
Ans. This comparison does not declare one stock ahead of another; each company scores differently across valuation, profitability and dividend metrics, and the right fit depends on an individual investor’s own criteria and research.
