- 30 Jan 2025
- ICICIdirect Research
GABRIEL INDIA REPORTED A 14PERCENT YOY INCREASE IN NET SALES TO RS924 CRORE
GABRIEL - 628 Change: -10.65 (-1.67 %)News: The company reported a 14% year-on-year (YoY) increase in net sales to ₹924 crore. EBITDA for the quarter came in at ₹78.4 crore with corresponding margins at 8.5%, down 10bps QoQ. Profit after tax (PAT) surged by 26% YoY to ₹54.1 crore. PAT for the quarter was supported by organic EBITDA growth as well as higher other income. Its OEM sales mix broadly remained the same wherein it realised 64%/24%/10% of its sales from 2-W/PV/CV segments respectively.
View: Gabriel India is well-entrenched amongst all 2W/3W players. On the margins front flat sequential performance is satisfactory amidst its guidance of double-digit margins in the medium term. With a longer-term perspective, we remain positive on Gabriel amidst healthy B/S, EV agnostic product profile, foray into sunroof components and presence with prominent new age auto OEMs in the EV space. Company remains committed to be amongst the top 5 shock absorber manufactures globally.
Impact: Neutral