Gabriel India - Topline Prospects Healthy; EV Opportunity Gets Bigger: ICICI Direct

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ICICI Direct Report

Gabriel India Ltd. reported a solid Q3 FY21 performance.

Net sales for the quarter were at Rs 536.5 crore, up 17.8% YoY, broadly following the underlying volume growth at key original equipment manufacturers.

Ebitda in Q3 FY21 was at Rs 39.1 crore with corresponding Ebitda margins at 7.3% (up 20 basis points YoY but down 60 basis points QoQ).

Profit after tax in Q3 FY21 was at Rs 24.5 crore, up 40% YoY.

The company is a leading player in the domestic suspension space with a presence across market segments (two-wheeler, passenger vehicle, commercial vehicle formed 67%, 20%, 12% of FY20 sales, respectively).

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