Gabriel India posts muted profitability for quarter ended December 2021GABRIEL - 108 Change: -0.90 (-0.83 %)
News: At Gabriel, topline for the quarter came in at Rs.606 crore, up 3% QoQ. EBITDA in Q3FY22 was at Rs.42 crore with corresponding EBITDA margins at 6.9%, down ~40 bps QoQ. PAT for the quarter was at Rs.25.7 crore, up 3% QoQ.
Views:The quarterly performance remain subdued due to muted demand prospects in the 2-W space (derives ~67% of sales from this segment). Gross margin declined ~80 bps QoQ, which adversely impacted the overall profitability. The company, however, has a cash rich b/s, an EV immune product profile and counts Ola Electric as its client on the EV OEM front.