Gabriel posts muted numbers for Q4FY22GABRIEL - 419 Change: 2.30 (0.55 %)
News: At Gabriel, topline for the quarter came in at Rs 684 crore up 13% QoQ. EBITDA in Q4FY22 stood at Rs37.7 crore with corresponding EBITDA margins at 5.5% down ~140 bps QoQ. PAT for the quarter stood at Rs26.9 crore, up 5% QoQ (supported by higher other income).
Views: Subdued margin performance was the real disappointment from the quarterly results. However, the company surpassed our annual estimates on topline as well as PAT front. For Q4FY22 gross margin declined by ~110 bps QoQ amid limited operating leverage gains. The company, however, has a cash rich b/s and EV immune product profile with suspension solutions already being supplied to new age auto OEMs like Ola Electric.